Economy

UBS analysts have reiterated their confidence in a soft landing for the US economy, highlighting the downward trend in inflation and the Federal Reserve’s readiness to cut rates. They emphasize that consumer spending is playing a crucial role in bringing down inflation, despite some positive surprises in recent economic data. The Institute for Supply Management’s

The Chinese electric truck startup, Windrose, is planning to establish a U.S. assembly plant for its semi-trucks starting in 2025. This bold move by founder and Chief Executive Han Wen directly challenges Tesla in its home market, signaling a potential return of Chinese electric vehicle companies to the world’s second-largest auto market. The decision to

Ukraine recently made headlines with the announcement of a preliminary deal with a bondholder group to restructure a staggering $19.7 billion in debt. The ad hoc group, holding 22% of the bonds, has shown support for the restructuring plan, with an additional 3% of bondholders also indicating their approval. However, the key aspects of this

China made a surprising move by lowering a key short-term policy rate and benchmark lending rates in an effort to boost growth in its economy. This decision comes after the country reported weaker-than-expected second-quarter economic data and amid concerns about deflation, a property crisis, surging debt, and weak consumer and business sentiment. According to Larry

China’s recent decision to cut both short and long-term rates by 10 basis points is a significant move aimed at supporting economic growth. The People’s Bank of China (PBOC) took this step following the release of a policy document outlining the country’s economic goals. This decision is likely to have a direct impact on various

Britain’s new finance minister Rachel Reeves is currently contemplating the possibility of granting inflation-busting pay increases for nearly 2 million government employees to prevent potential public sector strikes. Pay review bodies have recommended a 5.5% wage hike for 460,000 teachers and 1.4 million staff within the National Health Service. Reeves emphasized the significance of valuing

The second-quarter results of U.S. banks have revealed a concerning trend of boosted provisions for credit losses. This increase is primarily due to deteriorating commercial real estate (CRE) loans and the impact of high interest rates, which have sparked fears of potential defaults. Among the banks affected, M&T Bank is taking steps to reduce its

In a recent development, two European Central Bank policymakers have stepped forward to advocate for additional interest rate cuts, citing growing confidence in the trajectory of inflation towards the ECB’s target for next year. This comes in the wake of the ECB’s decision to maintain interest rates at their current levels, with President Christine Lagarde

India’s central bank recently announced that the country’s natural rate of interest has been on the rise since the onset of the pandemic. This trend is expected to continue, driven by the growth of potential output. Analysts have pointed out that this increase in the natural rate of interest may constrain the central bank’s ability

Citizens Financial (NYSE:CFG) has exceeded expectations for its second-quarter profit, despite facing challenges with weaker lending. The bank’s performance was buoyed by the strength of capital markets, which helped mitigate the impact of the decline in lending activity. As the U.S. economy remains resilient, corporate executives have been taking advantage of favorable market conditions to

The ongoing disputes over the contested Second Thomas Shoal in the South China Sea have escalated tensions between the Philippines and China. The Philippines has maintained a grounded warship on the shoal since 1999, sending regular supply missions to the troops stationed there. Recent clashes, including a June 17 incident where a Filipino sailor lost

Argentina’s dollar-denominated bonds experienced a significant drop in price this week, with all restructured bonds falling by over 1 cent. The 2035 maturity bond saw the most significant decline, dropping by 1.7 cents, while the 2041 bond fell by 1.5 cents. This decline in bond prices comes as investor concern continues to mount over the