United States

Leading Chinese chipmaker SMIC revenues rise 21.8 percent to $1.9 billion in Q2 2024

The company's capital expenditure reached $2.25 billion in the second quarter

Meta raises $10.5 billion in debt offering to supercharge AI investments, outpace competition

Analysts projected Meta's 2024 capex at $35-40 billion, but the company raised the minimum to $37 million

U.S. unemployment claims see biggest 11-month drop, easing recession fears with 233,000 filings

Government data last week showed the layoffs rate in June was the lowest in more than two years

China’s foreign trade hits $3.46 trillion in Jan-Jul 2024, defying economic headwinds

The country's exports rose 6.7 percent year-on-year to 14.26 trillion yuan during the period

Stock markets tumble on U.S. recession fears: Nikkei falls 12.4 percent, European shares near six-month low

Goldman Sachs analysts have increased their 12-month U.S. recession odds by 10 percentage points to 25 percent

U.S. unemployment rate rises to 4.3 percent in July on slower job growth

Nonfarm payrolls increased by 114,000 jobs last month, significantly below the 215,000 jobs per month added in the last 12 months

Spain fines Booking.com over $446 million for alleged anti-competitive practices

Booking.com will appeal the "unprecedented" decision, arguing it offers valuable programs to support accommodation partners

Optimism grows for U.K. markets as Bank of England slashes rates, boosts growth outlook

The BoE cut rates by 0.25 percent to 5.0 percent, a decision viewed as a close call

Easing inflation, weaker consumer spending signal two potential Fed rate cuts in 2024: Report

The report projected 2.1 percent U.S. economic growth in 2024, down from 2.5 percent in 2023

Key economic data releases and decisions this week: GDP, inflation, PMI and interest rates

This week, the U.S. Federal Reserve, the Bank of Japan and the Bank of England are holding monetary policy meetings

U.S. fortifies strategic crude oil stockpile with new 4.65 million barrel purchase

This procurement is part of a series of contracts aimed at refilling the nation's emergency oil stockpile

Global transition to low-carbon economy needs $3 trillion each year until 2050: Yellen

In 2022, wealthier economies provided an all-time high of $116 billion for climate finance for developing countries

Will faster than expected Q2 U.S. economic growth set stage for potential Fed rate cut?

The solid growth is driven by resilient consumer spending and business investment

U.S. election to drive gold’s safe-haven demand, impact broader macro variables: Report

Rising geopolitical threats and political uncertainty will likely impact financial markets around U.S. election

Global gas demand forecast to grow 2.5 percent in 2024, driven by Asia: IEA

However, global demand growth is expected to fall below 2 percent year-over-year in the second half of 2024

U.S. retail sales rise 2.3 percent in June, May data revised up 0.3 percent

Core U.S. retail sales rose 0.9 percent in June after a 0.4 percent unrevised gain in May

China sees surge in foreign tourism with visa-free policies, diverse payment options

14.64 million foreign nationals entered China through various ports during the first six months of the year

U.S. Fed could start cutting rates this year but should remain cautious: IMF

IMF urges the U.S. government to reduce its high fiscal deficit and put debt on a downward trajectory

World’s population to reach 10.3 billion by 2080 with uneven demographic shifts across regions: Report

Rapid population doubling projected in 9 developing countries by 2054 due to very high growth rates

Global oil demand growth slows in Q2 as EVs, economic headwinds impact consumption

The IEA has forecast an oil demand growth of 970,000 barrels per day (bpd) in 2024

U.S. inflation plunges to 3 percent, fueling bets on imminent Fed rate cuts

The BLS data also showed that consumer prices fell by 0.1 percent on a monthly basis

Global wealth poised for continued growth, $83 trillion intergenerational transfer by 2040: Report

In 2023, wealth growth across the world has recovered from its 3 percent contraction the previous year

Fed will take interest rate decisions ‘when and as they need to be made’: Powell

Reducing policy restraint too late or too little could unduly weaken economic activity and employment, Powell stated