According to data from three credit-card companies, Americans have reduced their purchases of luxury goods such as designer clothing and accessories in the last two months, raising concerns about the sector's resilience.   Data released this month by Citigroup, Mastercard, and Bank of...

To support the yuan, Chinese state banks increased their currency interventions. The local market's sale of dollars is intended to stabilize the exchange rate, which has already decreased by 12% against the dollar since the year's beginning. Major state banks in China use currency swaps to convert...

According to the White House, the American president has ordered his administration to take more steps to improve energy security, handle oil supply issues, and lower fuel prices. In response to rising energy prices, the White House unveiled Joe Biden's plan of action. According to the White...

Even though the global economy is expected to enter a recession next year, Asia, particularly Southeast Asia, remains a bright spot, according to economists.   The International Monetary Fund said last week that the strong economic bounceback in Asia previously this year has lost steam due...

According to the Financial Times, the European Union is debating whether to foot the bill for a subscription to the Starlink satellite internet communication terminals that Elon Musk gave to Ukraine. Josep Borrell, the director of the foreign policy division of the European Union, has directed...

According to sources cited by the TN television station, the Argentine government has started discussions with businesses to freeze prices of essential food and hygiene products in the face of excessive inflation. Argentina's inflation grew by 66.1% over the previous nine months to 6.2% in...

On Monday, British Prime Minister Liz Truss's economic plan was scrapped and her massive energy subsidy was reduced, launching one of the biggest fiscal policy U-turns in British history to stem a dramatic loss of investor confidence.   Charged with reversing all of the policies that helped...

A prominent bank regulator of the United States claimed that his caution regarding banks' collaborations with fintechs is not intended to stifle such relationships, but rather to express his concern that businesses must accurately assess their risks.   The acting Comptroller of the Currency,...

In response to OPEC+'s announcement last week that it would lower its oil production target in defiance of U.S. objections, President Joe Biden promised on Tuesday that "there will be consequences" for the United States' relations with Saudi Arabia.   He made his announcement the day after...