Economic events
China’s $89 billion e-commerce big JD.com posts slowest quarterly expansion on record
Chinese technological know-how companies including JD.com are dealing with headwinds from China’s Covid lockdowns and subsequent economic affect as very well as the country’s tighter regulatory natural environment for technologies companies. Qilai Shen | Bloomberg | Getty Photos JD.com defeat top and base line expectations in the next quarter, but posted its slowest 12 months-on-yr […]
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Gas prices are falling — Here’s why it’s happening and whether it can continue
A customer pumps gas at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images Gas prices are below $4 for the first time since March, but the market remains precarious and experts said it’s too early to know if the move lower will hold. The national average for […]
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India’s currency is under pressure — and analysts say the rupee could test new lows
Two thousand rupee notes on display with an Indian flag in the background. Manish Rajput | SOPA Images | LightRocket via Getty Images The Indian rupee has come under intense selling pressure due to a perfect storm of global headwinds which analysts say will continue to pummel the currency in the months ahead. In recent […]
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Watch live: U.S. Attorney General Merrick Garland briefs press on DOJ lawsuit challenging Idaho abortion law
(Attorney General Merrick Garland is scheduled to begin speaking at 1:30 p.m. ET. Please refresh the page if the video above doesn’t play at that time.) The U.S. Justice Department filed a lawsuit Tuesday seeking to invalidate Idaho’s new restrictive abortion law on the grounds that it violates federal law requiring most hospitals to give […]
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How US-made mobile-rocket artillery could change the battlefield in Ukraine
Artillery has quickly become the most important weapon in Ukraine’s war with Russia. Ukrainian forces have begun to use newer Western artillery, like the M777 Howitzer, in the battlefield. But a different kind of weapon has had a bigger impact. The American-made High Mobility Artillery Rocket System, aka HIMARS, has been a major high-tech upgrade […]
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White House goes on offense to argue that the U.S. is not in a recession
U.S. President Joe Biden delivers remarks on the Inflation Reduction Act of 2022 at the White House in Washington, U.S., July 28, 2022. Elizabeth Frantz | Reuters WASHINGTON — The White House responded to Thursday’s second quarter negative GDP growth with a full slate of events and a well coordinated message: Despite what everyone is […]
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Watch live: Biden speaks about the state of the U.S. economy
(Biden is scheduled to begin speaking at 2:15 p.m. ET. Please refresh the page if the video above doesn’t play at that time.) President Joe Biden will deliver remarks on the U.S. economy Thursday and meet with a small group of CEOs to “receive an update on economic conditions across key sectors and industries,” according […]
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Deutsche Bank isn’t convinced a ‘slam dunk’ recession is underway just yet. Wants more evidence after latest GDP print
Deutsche Bank joined the growing chorus of voices that’s not convinced we’re in a recession yet — although the firm continues to believe we’ll likely land in one within the next year. “We still think a recession is almost a slam dunk over the next 12 months but want to see more evidence of employment […]
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Stock futures fall slightly after big Fed rally, Meta shares decline
Traders react on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, July 27, 2022. Brendan Mcdermid | Reuters Stock futures moved slightly lower in overnight trading after markets staged a major […]
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Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
This is a developing story. Check back for updates. Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 27, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell said on Wednesday he does […]
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