World
Food price inflation rocks the Middle East’s economies, pushing up risk of social unrest
Local government officials and a Ukrainian soldier inspect a grain warehouse earlier shelled by Russian forces on May 06, 2022 near the frontlines of Kherson Oblast in Novovorontsovka, Ukraine. John Moore | Getty Images Rising prices of food and energy are reverberating through Middle Eastern and North African economies, a new S&P Global Ratings report […]
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Two notable Wall Street strategists say this is just a bear market bounce
Two widely followed strategists on Wall Street — Bank of America’s Michael Hartnett and Morgan Stanley’s Mike Wilson — see more trouble ahead in the stock market and are urging investors to not breathe a sigh of relief just because of the latest rally. “Is there a bull case? We find it difficult to construct […]
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Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had […]
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OPEC+ has ‘kind of broken down’ as Russia loses relevance and group faces tight spare capacity
OPEC+ has “kind of broken down,” the lead analyst of an oil research firm said after oil prices rose despite the alliance announcing that it would increase supply more quickly. OPEC and its allies decided to take nearly 10 million barrels off the oil market in 2020 when Covid first hit and demand evaporated. The […]
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Oil slips after OPEC+ hike, tight supply limits loss
An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Oil slipped on Friday after OPEC+ decided to increase production targets by slightly more than planned, although tight global supply and rising demand as China eases Covid restrictions […]
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Turkey’s inflation soars to 73%, a 23-year high, as food and energy costs skyrocket
A man sells slippers in Eminonu on May 5, 2022, in Istanbul, Turkey. The country has enjoyed rapid growth for years, but President Erdogan has for years refused to meaningfully raise rates to cool the resulting inflation. The result has been a plummeting Turkish lira and far less spending power for the average Turk. Burak […]
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‘Third parties’ should not interfere in Taiwan’s dealings with the EU, Taiwan minister says
China should not interfere with commercial dealings between Taiwan and the European Union especially when increased economic resilience between the two sides contribute to the benefit of the global economy, a senior Taiwan minister told CNBC. Taiwan would pursue a new free trade agreement with the EU should high-level talks with the bloc over the […]
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Russia-Ukraine war hits 100th day; Moscow starts military drills in the Pacific. Follow our live updates
Russia controls over 90% of Luhansk, but no original goals have been achieved: UK MoD On the 100th day of Russia’s war in Ukraine, which the Kremlin still terms its “special military operation,” Russian forces made significant territorial gains in the country’s eastern Donbas, now controlling more than 90% of Luhansk. “Russia is now achieving […]
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Hedge fund manager Dan Niles explains why we are still in a bear market rally
Hedge fund manager Dan Niles believes U.S stocks are in a bear market and could still see further volatility ahead — despite some brief rallies. Here’s how he’s trading the bear market. U.S. stocks have endured a torrid sell-off this year amid a troubling macro backdrop and an increasingly negative corporate outlook. Trading in U.S. […]
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Crypto firms say thousands of digital currencies will collapse, compare market to early dotcom days
With more than 19,000 virtual currencies in existence, the cryptocurrency industry has likened the current state of the market to the early years of the internet. Industry players said however that most of these coins will collapse. Nurphoto | Getty Images Several cryptocurrency industry players have told CNBC that thousands of digital tokens are likely […]
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