Business News

Analysis: US Growth, a Puzzle to Policymakers, Could Pose Global Risks

Fed policymakers will deliver a crucial update to their economic outlook at a Sept. 19-20 meeting, when they are expected to leave their policy rate unchanged at 5.25% to 5.5%.

Aug 27, 2023

By Reuters

Federal Reserve Chair Says More Interest Rate Hikes Needed to Cool Inflation

The Fed has raised rates by 5.25 percentage points since March 2022, and inflation by the Fed's preferred gauge has moved down to 3.3% from its peak of 7% last summer.

Aug 26, 2023

By Reuters

UK Retailers to Trim Jobs and Costs as Consumer Spending Slumps Amid Tight Rates

Retail activity in the country has dropped for a fourth straight month in August and the sentiment is at its lowest level since March 2021.

Aug 25, 2023

By Jacob J

S&P Downgrades Multiple US Banks Citing Tough Liquidity Scenario Amid Tight Rates

S&P said the factors like the possibility of the Fed maintaining high interest rates for an extended period and the potential decline in deposits of FDIC-insured banks influenced the ratings downgrade.

Aug 22, 2023

By Jacob J

China Trims Rates to Revive Growth; Markets Sink on Lower-Than-Expected Cut

The Chinese central bank lowered its prime lending rate to 3.45 percent from 3.55 percent on Monday.

Aug 21, 2023

By Jacob J

12-Year-Old CEO Rapidly Scales Interior Designer Directory To World's Largest

Mason Monahan said While I may be young, my drive as an entrepreneur knows no limits. By continuing to make InteriorDesigner.org the ultimate resource for clients and designers, I believe our best is yet to come

Aug 21, 2023

By IBT Desk

Battling $300 Billion Debt, Chinese Property Giant Evergrande Files for Bankruptcy in the US

The company made the Chapter 15 bankruptcy protection filing in a New York court, enabling it to protect its US assets even as it works out a restructuring of its debts.

Aug 18, 2023

By Jacob J

Who is Michael Burry? 'Big Short' Investor Predicts US Stock Market Crash

While the S&P 500 is up by around 15 percent in the year, the Nasdaq 100 has zoomed 37 percent so far this year. However, Burry believes that the market is in for a shock soon.

Aug 17, 2023

By Jacob J

America is Broke, the Fed is Smoking Fantasy Weed, Says 'Rich Dad Poor Dad' Author Robert Kiyosaki

Kiyosaki's views on the US economy and the unseemly debt burden that increases by the day were echoed by Fitch Ratings, which cut the US credit rating.

Aug 16, 2023

By Jacob J

Property Sector Cash Crunch Leads to Defaults, Raising Concerns For in China's Economy

The latest developments indicate that the property market difficulties are impacting China's huge shadow banking industry.

Aug 16, 2023

By Jacob J

Russian Central Bank Hikes interest Rates by 3.5% to Stem Ruble's Decline

The Russian central bank's decision to raise the rates came after a ranking Kremlin adviser criticized the bank for ruble's decline.

Aug 15, 2023

By Jacob J

Cage Fight: Tech Titans Zuckerberg and Musk Trade Playful Punches in Online Showdown Before any Real Fight

Musk and Zukerberg engaged in interesting verbal exchanges about much hyped cage fight that is scheduled to live stream on X. The date of the cage fight is unknown yet

Aug 15, 2023

By Anshul Panda

Elon musk

Foxconn to Increase India Operations; A Look at iPhone Maker's Footprint in the Country

The Taiwanese contract manufacturer of Apple products has mammoth factories in China but it has been gradually shifting focus to India in recent years.

Aug 14, 2023

By Jacob J

Russian Ruble Slides Past 100 Against US Dollar; Kremlin Blames Central Bank

The Bank of Russia has pointed out that Moscow's shrinking balance of trade is the cause of the ruble's decline.

Aug 14, 2023

By Jacob J

Elon Musk's Bold Move: Auctioning Twitter's Iconic Blue Bird logo and other Memorabilia Amid Rebranding

Billionaire Elon Musk announces that twitter Memorabilia including the iconic Blue Bird Logo will be auctioned. The auction encompasses an eclectic array of items that once held integral roles within Twitter's physical and digital domain

Aug 12, 2023

By Anshul Panda

Elon musk

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