World economy
Countries are not doing enough to contain monkeypox outbreak, epidemiologist says
There are grave concerns that the U.S. and other countries are not doing enough to contain monkeypox from becoming a large scale global outbreak, according to an infectious disease epidemiologist. Over the weekend, the World Health Organization activated its highest alert level for the virus, labeling monkeypox a public health emergency of international concern. The […]
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G-20 finance meetings in Bali overshadowed by war in Ukraine
Financial leaders of the Group of 20 richest and biggest economies have wrapped up meetings on the Indonesian resort island of Bali without a final joint communique after talks were overshadowed by divisions over the war in Ukraine. As G-20 host this year, Indonesia has sought to bridge divisions between G-20 members over Russia’s invasion, […]
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U.S. inflation jumped by 9.1% in June, a four-decade high: Here’s what you need to know about inflation
Americans paid much higher prices for goods and services in June compared to a year earlier, as inflation continued to soar, the Bureau of Labor Statistics reported. The consumer price index is one of the primary measures of inflation. CPI jumped to 9.1% last month from a year ago, above the 8.8% Dow Jones estimate. That […]
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Chinese companies are going global as growth slows at home
Miniso opened its first flagship store in New York City’s SoHo in February 2022. Miniso BEIJING — Some Chinese consumer brands are looking for growth overseas, in markets like the U.S. and Southeast Asia. Take Miniso, a Guangdong-based seller of toys and household products. Sometimes called China’s Muji, Miniso opened a flagship store in New […]
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Railroad bottleneck at nation’s busiest West Coast ports reaches inflection point
A Union Pacific freight train carries goods east near Palm Springs, California, a key link in the roadways and railways that connect the southern California metropolitan areas, as well as the busiest port complex in the nation, with the rest of the U.S. David Mcnew | Getty Images News | Getty Images Rail congestion from […]
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European markets close 2% higher; UK’s Johnson resigns as prime minister
LONDON — European stocks closed sharply higher on Thursday, building on gains in the previous session. The pan-European Stoxx 600 provisionally closed up 2%, with mining stocks jumping 5.6% to lead gains while food and beverages stocks dropped 0.1%. In terms of individual share price movement, Danish shipping giant Maersk climbed 7.1% on the back […]
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Samsung’s ‘better than feared’ earnings spur chip stock rally
Samsung shares rose on Thursday, dragging Asian chipmakers higher after the South Korean technology giant posted “better than feared” earnings guidance for the second quarter. The numbers assuaged investors’ concerns about rising inflation, deteriorating consumer demand and higher material costs for semiconductor firms, though analysts cautioned that demand weakness may not have fully run its […]
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Switzerland surprised markets with a rate hike. But Japan could cause a much more violent reaction
Japan’s national flag flies atop the Bank of Japan building on November 12, 2019 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images Japan’s central bank is nearing an inflection point. It comes as policymakers around the world scramble to tighten monetary policy in an effort to rein in record-high inflation. The Swiss National Bank was […]
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IMF chief Georgieva says she ‘cannot rule out’ possible global recession
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), during a Bloomberg Television interview on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Monday, May 23, 2022. Jason Alden | Bloomberg | Getty Images The head of the International Monetary Fund on Wednesday said the outlook for the global […]
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The Federal Reserve hiked interest rates to combat inflation: Here’s what that means for you
The Federal Reserve recently raised interest rates by three-quarters of a percentage point, the most aggressive hike since 1994. This rise puts the key benchmark federal funds rate at a range between 1.5 and 1.75%. The Fed’s intention is to help combat inflation. Watch this video to find out what rising interest rates mean for […]
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