Europe could become energy self-sufficient in $2tr push: study

Europe could wean itself off fossil fuels and create a self-sustainable energy sector by spending around 2 trillion euros ($2.1 trillion) on solar, wind and other regenerative sources by 2040, according to a new study.
5 October 2023, 19:30 PM

Oil up after OPEC+ maintains output cuts but shaky demand caps gains

Oil prices inched up on Thursday, clawing back some of the previous session's big losses after an OPEC+ panel maintained oil output cuts to keep supply tight, though an uncertain demand outlook capped gains.
5 October 2023, 07:03 AM

Developing countries facing a debt crunch

High interest rates, growing investor risk aversion and borrowing that ballooned in recent years have left a range of developing economies mired in debt crises.
4 October 2023, 21:00 PM

US jobseekers face tougher search

For the past year, Taylor Simpson has been searching for a stable job while working part-time, but she is struggling to find a position she likes even though companies are hiring.
4 October 2023, 18:59 PM

Dollar surges

The euro, pound and yen all traded at multi-month lows on Tuesday, with the Japanese currency on the brink of weakening past the psychological 150 per dollar level, as surging US Treasury yields kept the dollar firmly on the front foot.
3 October 2023, 23:38 PM

UK shop price inflation at lowest in a year

Prices in British store chains rose at the slowest pace in a year in September, according to industry data that adds to signs that the UK's high inflation rate is set to extend its recent fall.
3 October 2023, 22:53 PM

Rouble recovers

The Russian rouble weakened past the symbolic threshold of 100 to the dollar before recovering slightly in early trade on Tuesday, weighed down by foreign currency outflows and the country's shrinking current account surplus.
3 October 2023, 22:38 PM

US warned China to expect updated export curbs in October - US official

The Biden administration warned Beijing of its plans to update rules that curb shipments of AI chips and chipmaking tools to China as soon as early October, a US official said, a policy decision aimed at stabilizing relations between the superpowers.
3 October 2023, 08:13 AM

Eurozone's factory activity stuck in downturn

Euro zone manufacturing activity remained mired in a deep and broad-based downturn last month, according to a survey which showed on Monday that demand kept shrinking at a pace rarely surpassed since the data was first collected in 1997.
2 October 2023, 23:07 PM

How China-West tensions will shape global markets

Tensions between the West and China are rising, from tit-for-tat trade tariffs to tech rivalry and spying allegations.
2 October 2023, 07:56 AM

Oil prices climb as risk appetite grows, focus returns to supply outlook

Oil prices edged up on Monday, recouping some of the losses suffered at the end of last week, as investors focused on a tight global supply outlook while a last-minute deal that avoided a US government shutdown restored risk appetite.
2 October 2023, 06:08 AM

German states push for ban on solar imports

Two German regional governments on Friday urged the European Union and Berlin to protect the German solar industry from cheaper imported panels, demanding a ban on imports of modules that do not meet the bloc's climate and labour standards.
2 October 2023, 00:33 AM

Key US inflation measure ticks up

The key US inflation measure used by the Federal Reserve to set interest rates ticked up again in August, fueled by rising energy prices, according to government data published Friday.
1 October 2023, 18:00 PM

Eurozone inflation falls to two-year low

Eurozone inflation fell to an almost two-year low in September, official data showed Friday, raising hopes that the European Central Bank will end its rate-hiking cycle.
1 October 2023, 18:00 PM

China new home prices tick up

China’s new home prices rose slightly in September, breaking a four-month decline, data showed on Sunday, as developers sped up launches to take advantage of a recent slew of support measures.
1 October 2023, 18:00 PM

Dollar on track for best quarter in a year

The dollar was on track to post its biggest quarterly gain in a year on Friday and gains for the 11th consecutive week as investors priced in the likelihood of a still solid economy and higher rates for longer.
30 September 2023, 18:30 PM

What could break under higher-for-longer interest rates?

As the final stretch of the year approaches, there's relief in markets that the sharpest global monetary tightening cycle in decades is finally nearing an end.
30 September 2023, 08:16 AM

Republicans reject own funding bill, US government shutdown imminent

Hardline Republicans in the US House of Representatives on Friday rejected a bill proposed by their leader to temporarily fund the government, making it all but certain that federal agencies will partially shut down beginning on Sunday.
30 September 2023, 05:42 AM

Oil prices climb

Oil prices rose by more than $1 a barrel on Wednesday as markets focused on supply tightness heading into winter and a "soft landing" for the US economy.
27 September 2023, 23:09 PM

Toyota plans third India plant

Toyota Motor plans to build a third car plant in India, expanding production capacity in the country for the first time in over a decade as its partnership with Suzuki Motor boosts domestic volumes, two sources said.
27 September 2023, 19:28 PM