A meeting of the Group of Seven (G7) finance ministers on Thursday was overshadowed by the Washington impasse over raising the U.S. debt ceiling as central banks try to assure a smooth landing for the global economy. Fears of a US recession grew as a result.   President Joe Biden stepped up...

Gallup revealed findings of a study on the nation's financial position that was carried out in the United States from April 3 to April 25. Two significant regional banks—Silicon Valley Bank and First Republic Bank—were shut during the previous two months, and their assets were purchased by other,...

China's imports fell dramatically in April, while exports climbed at a slower pace, confirming signs of weak domestic demand despite the removal of COVID restrictions and adding pressure to an economy already struggling in the face of slowing global growth.   The Chinese economy grew faster...

According to reports quoting information from sources familiar with the situation, US Treasury Secretary Janet Yellen is reaching out to US corporate and financial leaders to explain the "catastrophic" impact a US debt default would have on the US and worldwide economies.   According to one...

US banks have tightened lending requirements for all types of consumer loans as well as commercial loans due to a decline in account deposits and poor loan portfolio quality, according to the US Federal Reserve (Fed) survey. In an April analysis of the US banking industry, the regulator stated that...

Despite the turbulence in the banking industry and the impact of increasing borrowing prices, job creation in the United States remained healthy last month. Employers added 253,000 jobs, exceeding many analysts' expectations.   The unemployment rate dropped to 3.4%, a multi-decade low. The...

After months of negotiations failed to persuade Moscow to keep rupees in its coffers, India and Russia have discontinued efforts to settle bilateral commerce in rupees, according to two Indian government officials and a person with direct knowledge of the situation.   This would be a huge...

In an interview with Reuters on Friday, AI pioneer Geoffrey Hinton said that artificial intelligence could be a "more urgent" threat to civilization than climate change.   Geoffrey Hinton, generally regarded as one of the "godfathers of AI," recently announced his departure from Alphabet...

International Monetary Fund (IMF) Managing Director Kristalina Georgieva cautioned that the world economy could fragment into conflicting economic blocs, which poses a growing risk that would be harmful to everyone, including Europe. "There is an increasing possibility that the world could break up...