Articles by Jacob J

European Stocks Edge Lower as Oil Climbs to 10-Month Highs on Russia, Saudi Output Cut Extension

The British Chambers of Commerce (BCC) said on Tuesday the economy will record a 0.4 percent growth in 2023.

Sep 6, 2023

After Cluster Bombs, US to Send Controversial Depleted-Uranium Weapons to Ukraine - Report

According to the International Coalition to Ban Uranium Weapons, the depleted uranium weapons pose serious health risks to the humans.

Sep 2, 2023

British Defense Contractor BAE Systems to Set Up Production Unit in Ukraine

BAE said it would set up a unit to produce 105mm light artillery guns in Ukraine and would explore potential local partners.

Sep 1, 2023

UBS to Cut 3,000 Jobs in Switzerland as it Aims to Save $10 Billion After Credit Suisse Takeover

UBS said it will go ahead with the full integration of the Credit Suisse banking operations in Switzerland.

Aug 31, 2023

US economy expands 1.4% in fourth quarter; corporate profits fall

Revised GDP Data Shows US Economy Remains Resilient, Powered by Consumers

Economists conclude that the latest figures show the economy's resilience, given the backdrop of a more than 500 basis point increase in interest rates since March 2022.

Aug 30, 2023

China's Evergrande Shares Plunge 87% as Trading Resumes in Hong Kong After 18 Months

Evergrande had applied to resume trading in Hong Kong as it would have faced delisting when the suspension breaches 18 months.

Aug 28, 2023

US Navy's Seventh Fleet Issues Dire Warning Against Beijing Over South China Sea Move

The Seventh Fleet is the US Navy's largest forward-deployed fleet consisting of 70 ships, more than 150 aircraft and as many as 27,000 sailors.

Aug 28, 2023

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

EXPLAINED: Why Nvidia is in $25 Billion Share Buyback Despite Stock and EPS Boom

Nvidia shares surged by more than 6.5 percent after it posted record-breaking second-quarter revenue of $13.51 billion.

Aug 25, 2023

Artificial intelligence

General motors Renaissance Center, Detroit

General Motors Cuts Close to 1,000 Jobs; Shuts Down IT Center in Arizona

The automaker had let as many as 5,000 salaried workers leave the company in April in a buyout program.

Aug 24, 2023

Taipei Denies Reports That China's Shang Class Submarine Crashed in Taiwan Strait

Taiwan's MND spokesman said that Taiwan's intelligence and surveillance agencies did not detect any evidence of a submarine crash.

Aug 24, 2023

India's Ambitious Moon Mission Chandrayaan-3 in Countdown for Historic Soft Landing on Lunar South Pole

Through the latest mission India aims to declare itself a leader in the modern space voyage, acquiring a wealth of knowledge about the moon, including about the potential for human habitation on the moon in the future.

Aug 23, 2023

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

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

Spain Defeat England 1-0 in Pulsating Final to Lift Its First Women's World Cup Trophy

Olga Carmona scored the lone goal in the 30th minute of the game and the Spaniards held on to the lead up until the end despite a charged-up England side raising their game in the final minutes.

Aug 20, 2023

Israel Divided Over Uranium Enrichment by Saudi Arabia; Yair Lapid Raises Red Flag

According to Lapid allowing Saudi Arabia to enrich uranium will significantly raise the risk for Israel, and such a move will result in a nuclear arms race in the region.

Aug 20, 2023

US, Japan and S. Korea Fortify Trilateral Framework Against Chinese 'Aggression'

Biden said the three countries will stand up together for international law and against coercion by China.

Aug 19, 2023

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

Spanish Prime Minister Pedro Sanchez Boosts Chances of Retaining Power

Two Catalan nationalist parties aided the PSOE in Thursday's speaker election, helping Francina Armengol secure an absolute majority.

Aug 17, 2023

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

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