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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
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Economy

1240 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 7/29/2026

US Trade Deficit Shrinks in June, But Still a Drag on Second-Quarter Economic Growth

The United States saw its goods trade deficit shrink by a notable 4.2% in June, settling at $101.5 billion, a wider-than-expected improvement from May's higher figure. While this sounds like good news, economists widely expect this deficit to again pull down America's overall economic growth for the second quarter of 2026, marking two straight quarters where trade has acted as a brake on the economy. The official government estimate for Q2 GDP growth is coming out on Thursday, and everyone is watching closely.

Editorial Team1 min
US Trade Deficit Shrinks in June, But Still a Drag on Second-Quarter Economic Growth
Economy 7/29/2026

State Street Expands Latin America Foothold with Major Santander CACEIS Joint Venture Acquisition

Global financial giant State Street Corporation has made a bold move into the Latin American market, signing an initial agreement to acquire the Santander CACEIS Latam Securities Services joint venture. This strategic play will significantly boost State Street's presence in key regional markets like Brazil, Mexico, and Colombia, adding approximately $470 billion in assets under custody and $225 billion in assets under administration to its portfolio. The acquisition aims to establish State Street as a dominant provider of custody, foreign exchange, and other vital back-office services for institutional investors across these fast-growing economies.

Editorial Team1 min
State Street Expands Latin America Foothold with Major Santander CACEIS Joint Venture Acquisition
Economy 7/29/2026

India-Nepal Trade Gets Direct Rail Boost: First Container Freight Arrives in Biratnagar

In a game-changing move for regional commerce, India has successfully operated its first-ever direct commercial container freight train to Biratnagar, Nepal, from Kolkata Port. This landmark journey, carrying 40 wagons of canola, marks a new era in cross-border trade, dramatically cutting transit times and logistics costs for businesses in eastern Nepal. The direct service sidesteps the need for transshipment at the border, promising a smoother, faster flow of goods between the two nations.

Editorial Team1 min
India-Nepal Trade Gets Direct Rail Boost: First Container Freight Arrives in Biratnagar
Economy 7/28/2026

Barclays' Soaring Bonuses Ignite UK Tax Firestorm as Burnham Weighs Levy

Barclays has dramatically increased its half-year bonus pool by nearly 30% to £1.3 billion, following a surge in second-quarter profits to £3.3 billion, an impressive 31% jump from last year. This 'bonanza' of banker payouts has immediately triggered strong calls from the Trades Union Congress (TUC) for Prime Minister Andy Burnham to impose a heavier tax on UK banks, arguing they can easily afford to contribute more amid a widespread cost-of-living crisis across the country.

Editorial Team1 min
Barclays' Soaring Bonuses Ignite UK Tax Firestorm as Burnham Weighs Levy
Economy 7/28/2026

Italy Slashes Diesel Prices Amid Escalating Mideast Conflict and US-Iran Tensions

Italy's Prime Minister Giorgia Meloni has swiftly moved to ease the burden of soaring fuel costs, reintroducing a temporary cut in diesel excise duties. This decisive action, effective immediately and reducing prices by 17 euro cents per liter until August 6, comes as Europe grapples with persistent inflation, fueled directly by escalating tensions in the Middle East and renewed conflict involving the US and Iran.

Editorial Team1 min
Italy Slashes Diesel Prices Amid Escalating Mideast Conflict and US-Iran Tensions
Economy 7/28/2026

North Sea Oil Firms Face Job Cuts, UK Government Pressured for Urgent Drilling Approval

A joint venture firm behind two major North Sea oil and gas projects, Adura, has initiated a voluntary redundancy program at its Aberdeen headquarters, putting jobs at risk as it awaits urgent government approval for the stalled Rosebank and Jackdaw fields. This move intensifies pressure on UK Prime Minister Andy Burnham's new administration to fast-track decisions on these controversial projects, which are seen as vital for domestic energy supply and job creation amidst rising energy costs.

Editorial Team1 min
North Sea Oil Firms Face Job Cuts, UK Government Pressured for Urgent Drilling Approval
Economy 7/28/2026

Small Businesses Launch New Legal Fight Against Trump's Latest Global Tariffs

Small businesses, veterans of past legal battles against the Trump administration's trade policies, are once again challenging a new wave of global tariffs. Just days after the White House's temporary Section 122 levies expired, companies like Burlap & Barrel, Collective Horology, and Learning Resources filed fresh lawsuits in the U.S. Court of International Trade, aiming to block new Section 301 tariffs that impose duties of 10% to 12.5% on imports from over 60 economies. These businesses argue the administration has overstepped its authority yet again, treating Section 301 as a blank check for broad tariffs rather than a targeted trade remedy.

Editorial Team1 min
Small Businesses Launch New Legal Fight Against Trump's Latest Global Tariffs
Economy 7/27/2026

Oil Plunge Ignites Global Market Relief as Mideast Tensions Ease

Global markets are breathing a collective sigh of relief today as oil prices experience a dramatic slump, falling significantly below the $90-$92 per barrel mark after weeks of trading above $100. This sharp decline in Brent crude and West Texas Intermediate (WTI) is a direct response to a surprise pause in hostilities between the United States and Iran, which has significantly cooled fears of a broader conflict in the Middle East and critical disruptions to oil supply routes like the Strait of Hormuz. The de-escalation has immediately translated into positive sentiment across major currency pairs, offering some fresh air to investors worldwide.

Editorial Team1 min
Oil Plunge Ignites Global Market Relief as Mideast Tensions Ease
Economy 7/27/2026

Fed Chair Warsh Ramps Up Bid to Overhaul Outdated Economic Models Amid Global Shocks

Wall Street might be fixated on this week's interest rate decision, but the real story brewing at the Federal Reserve is a foundational shift in how the central bank understands the economy itself. Under new Chair Kevin Warsh, the Fed is pushing to overhaul its outdated economic models, recognizing they no longer fully capture today's complex landscape, rather than just tweaking borrowing costs. This significant move signals a long-overdue reckoning with the analytical tools guiding monetary policy, aiming to strengthen the Fed's understanding before making critical decisions impacting every household and business.

Editorial Team1 min
Fed Chair Warsh Ramps Up Bid to Overhaul Outdated Economic Models Amid Global Shocks
Economy 7/27/2026

Indian IT Stocks Soar as Geopolitical Calm, Falling Oil Prices Fuel Market Optimism

Indian IT stocks are on a tear today, with the Nifty IT index surging over 2.45% to hit 29,471.35, signaling a strong rebound for the sector. Heavyweights like Infosys, TCS, and Tech Mahindra are leading the charge, driven by a trifecta of easing geopolitical concerns in West Asia, a significant drop in crude oil prices, and overall positive global market sentiment. This rally marks a substantial shift from recent cautious investor behavior, positioning the sector for potentially its best monthly performance in two years.

Editorial Team1 min
Indian IT Stocks Soar as Geopolitical Calm, Falling Oil Prices Fuel Market Optimism
Economy 7/27/2026

Oil Plunges 5% as US Pauses Iran Strikes, But Diplomatic Path Remains Murky

Oil prices took a sharp dive on Monday, with Brent crude dropping over 5% below $95, while US West Texas Intermediate crude also saw significant losses. This sudden dip comes after the US, under President Donald Trump, reportedly paused its recent strikes on Iran, sparking hopes that tensions in the volatile Middle East might finally ease after weeks of escalating conflict.

Editorial Team1 min
Oil Plunges 5% as US Pauses Iran Strikes, But Diplomatic Path Remains Murky
Economy 7/27/2026

Global Currencies React to Iran War Pause; Lingering Tensions Cloud Oil's Dip

Global foreign exchange (FX) markets kicked off the week with a modest firming in several major currencies, notably the Euro, Australian Dollar, and New Zealand Dollar, as a temporary pause in US-Iran hostilities over the weekend spurred a cautiously 'risk-on' sentiment. This diplomatic respite also saw crude oil prices decline by approximately 3% in early trading, easing immediate inflation concerns. However, analysts warn this newfound calm is fragile, with the US Dollar softening only slightly as Washington and Tehran remain far from a lasting peace agreement.

Editorial Team1 min
Global Currencies React to Iran War Pause; Lingering Tensions Cloud Oil's Dip
Economy 7/27/2026

Fujitsu Secures UK Government Contracts Amidst Unresolved Post Office Horizon Scandal

In a shocking twist, Japanese tech giant Fujitsu has secured a spot on a massive £14.9 billion UK public-sector technology procurement framework, even while maintaining a 'self-imposed' pause on bidding for new government contracts. This development comes as the firm, central to the devastating Post Office Horizon scandal, continues to face intense scrutiny and has yet to contribute a single penny to the victims' compensation, leaving taxpayers to foot a bill now exceeding £1.44 billion.

Editorial Team1 min
Fujitsu Secures UK Government Contracts Amidst Unresolved Post Office Horizon Scandal
Economy 7/27/2026

Oil Markets Jitter as Red Sea Attacks and Kazakhstan Outage Squeeze Global Supply

Global oil markets are on high alert as a fresh wave of Houthi attacks on Saudi oil facilities in the Red Sea, coupled with a significant production drop from Kazakhstan due to drone strikes, threaten an already fragile supply chain. Brent crude prices, though recently falling below $90 a barrel after nearing $100 just days ago, remain highly volatile, reflecting deep anxiety over energy security amid ongoing geopolitical turmoil. This dual blow further intensifies the challenges for major oil importers, especially in Asia, which rely heavily on these disrupted routes.

Editorial Team1 min
Oil Markets Jitter as Red Sea Attacks and Kazakhstan Outage Squeeze Global Supply
Economy 7/26/2026

India's Forex Reserves Rebound: Policy Moves Avert Gold Pledge Crisis

India's foreign exchange reserves have staged a remarkable recovery, climbing to over $676 billion by mid-July 2026, a sharp contrast to earlier concerns of plummeting levels. This significant rebound comes after a period of intense forex stress and a persistent Balance of Payments deficit had policymakers exploring various options to secure foreign currency, including discussions around potentially leveraging gold assets. The current robust figures underscore the effectiveness of recent strategic interventions by the Reserve Bank of India and the government.

Editorial Team1 min
India's Forex Reserves Rebound: Policy Moves Avert Gold Pledge Crisis
Economy 7/26/2026

US Hits India with New Tariffs Amid Forced Labor Probe; Trade Deal Hangs in Balance

The United States has slapped India with a new 10 percent additional tariff under its Section 301 measures, citing concerns over alleged forced labor practices, effective July 24, 2026. This move, while placing India in a lower tariff bracket than initially proposed, casts a new shadow over the ongoing negotiations for a crucial Bilateral Trade Agreement (BTA) between the two economic giants. Despite the tariffs, New Delhi has swiftly reaffirmed its commitment to finalizing the BTA, signaling a desire to navigate this trade friction.

Editorial Team1 min
US Hits India with New Tariffs Amid Forced Labor Probe; Trade Deal Hangs in Balance
Economy 7/26/2026

Oil Surge, Middle East Tensions Send Indian Markets Tumbling Amid Global Inflation Fears

Indian stock markets faced a challenging week, with benchmarks Nifty and Sensex both dropping over 2.3% as global inflation worries intensified and crude oil prices surged. The Nifty fell 2.33% for the week, closing Friday at 23,767, while the Sensex shed 2.68%, ending at 76,059, marking a significant setback for investors. This sharp dip comes as fresh geopolitical tensions in the Middle East drive up energy costs worldwide.

Editorial Team1 min
Oil Surge, Middle East Tensions Send Indian Markets Tumbling Amid Global Inflation Fears
Economy 7/26/2026

China's Gold Fever: June Imports Soar to Two-Year High Amid Price Dip

China's gold imports in June skyrocketed to 173 tonnes, hitting their highest level since March 2024 and marking the third consecutive month of increased purchases. This surge highlights a dual dynamic: Chinese investors are seizing the chance to 'buy the dip' on recently softer gold prices, while commercial banks are aggressively replenishing their stocks to keep up with booming domestic retail demand.

Editorial Team1 min
China's Gold Fever: June Imports Soar to Two-Year High Amid Price Dip
Economy 7/26/2026

Small Businesses Strike Back: New Lawsuits Challenge Trump's Sweeping Tariffs

Just hours after President Donald Trump's new, sweeping tariffs on nearly all U.S. imports kicked in, small businesses across the country are fighting back, filing multiple lawsuits to challenge the legality of these fresh levies. These double-digit duties, impacting 60 trading partners, went live on Friday, July 25, 2026, replacing temporary tariffs that had just expired. Critics are quick to point out that these new tariffs seem like a quick workaround after the Supreme Court struck down Trump's previous global import taxes just five months ago.

Editorial Team1 min
Small Businesses Strike Back: New Lawsuits Challenge Trump's Sweeping Tariffs
Economy 7/26/2026

Faraday Future Nears Bankruptcy as Cash Drains, Stock Plunges 99%

Faraday Future Intelligent Electric Inc. (FFIE), once a high-flying electric vehicle (EV) startup, is teetering on the brink of bankruptcy after its stock plummeted by a staggering 99% from its peak, now trading at just $0.19. The company, which recently disclosed a critical lack of sufficient share capital and warned of potential bankruptcy protection, has been grappling with severe cash burn and a heavy debt load, despite efforts in July 2026 to restructure its financing and cancel warrants.

Editorial Team1 min
Faraday Future Nears Bankruptcy as Cash Drains, Stock Plunges 99%
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