Iris Barker
Economics
US consumer confidence index rises to 67.8 points in August, better than forecasts
In August, the consumer confidence index in the United States rose to 67.8 points from 66.4 points in the previous month, reads the initial study from the University of Michigan,…
Published on August 18, 2024
By Iris Barker
Economics
US authorities accuse crypto project NovaTech of $650 mln fraud
The SEC has accused NovaTech and its founders, Cynthia and Eddie Petion, of organizing a Ponzi scheme.
Published on August 15, 2024
By Iris Barker
World & Politics
US aid to Ukraine exceeds $174bn since the beginning of the conflict
A joint report on the US government's actions regarding the Ukrainian conflict was released by the Defense Department, the State Department, and the US Agency for International Development.
Published on August 15, 2024
By Iris Barker
World & Politics
WHO recognizes mpox as a public health emergency
Reuters reports that the World Health Organization has announced mpox (monkeypox) as a public health crisis for the second time in two years.
Published on August 15, 2024
By Iris Barker
Business & Finance
UBS in Q2 received net profit twice as much as market forecasts
UBS Group AG, a top player in wealth management worldwide, reported a second-quarter net profit that was double what analysts had predicted.
Published on August 15, 2024
By Iris Barker
Economics
Current CEO of Chipotle restaurant chain will become new head of Starbucks
Brian Niccol, the current CEO of Chipotle Mexican Grill, is set to become the CEO of Starbucks Corp.
Published on August 14, 2024
By Iris Barker
Economics
MSCI to reduce number of MSCI China index components by 58
MSCI Inc. stated that it would remove the shares of 60 firms from the MSCI China Index calculation after the quarterly review of regional indicators composition. In this instance, the…
Published on August 14, 2024
By Iris Barker
Business & Finance
Samsung recalls 1.1 million electric stoves in U.S. after fires with pet deaths
South Korean Samsung Electronics is recalling 1.12 million electric stoves in the United States due to 250 fire incidents that resulted in injuries to many people and deaths of pets.
Published on August 11, 2024
By Iris Barker
World & Politics
China complains to the WTO about new EU duties on Chinese electric cars imports
China has lodged a formal complaint with the WTO over the European Commission's move to levy extra tariffs on electric vehicles made in China and imported into the EU, writes…
Published on August 11, 2024
By Iris Barker
Economics
JP Morgan raises probability of recession in the US from 25% to 35%
Experts at JP Morgan Chase, a US bank, raised the likelihood of a recession in the United States by the year's end from 25% to 35%.
Published on August 8, 2024
By Iris Barker
World & Politics
British Airways to suspend flights to Beijing for at least a year
British Airways will halt flights to Beijing for a minimum of one year.
Published on August 8, 2024
By Iris Barker
Business & Finance
Glencore ends H1 2024 with a net loss
Glencore Plc, a top global commodity group, finished the first half of the year with a loss, attributed to decreased commodity prices and asset write-downs.
Published on August 7, 2024
By Iris Barker
World & Politics
Iran’s army promises swift and powerful response to Israel over Ismail Haniyeh’s death
Iran's military leader Major General Abdolrahim Mousavi stated on Wednesday that Israel will be met with revenge for the killing of Hamas political leader Ismail Haniyeh in Tehran.
Published on August 7, 2024
By Iris Barker
Economics
Bank of England: Britain’s biggest banks would safely undergo bailouts in the event of a crisis
The Bank of England stated that eight of the biggest banks in Britain can receive bailouts in a crisis without needing government funds for their rescue.
Published on August 6, 2024
By Iris Barker
Economics
US Energy Department slightly raises forecast for global oil demand in 2024
In its monthly report, the US Department of Energy's Energy Information Administration (EIA) increased its projected global oil demand for 2024 to 102.94 million barrels per day (bpd) from 102.91…
Published on August 6, 2024
By Iris Barker
Business & Finance
Continental considers spinning off unprofitable automotive electronics division
Continental AG, a German tire and automotive parts manufacturer, announced the possibility of separating its automotive electronics division into a standalone company.
Published on August 6, 2024
By Iris Barker
World & Politics
British PM to boost police to quell riots
The British PM Keir Starmer declared he will strengthen the police with special units, prepared to be deployed promptly to suppress any unrest. He made this remark following an urgent…
Published on August 6, 2024
By Iris Barker
Business & Finance
BNP Paribas in talks to buy AXA’s investment management business
French bank BNP Paribas is in exclusive talks with insurance company AXA for the acquisition of its investment management division.
Published on August 4, 2024
By Iris Barker
Economics
Bloomberg learns about fall of oil exports from Russia to the lowest in 19 months
Russian port crude oil exports dropped to nearly 1.8 million barrels per day in July, marking the lowest level in 19 months, Bloomberg reported based on its own calculations using…
Published on August 4, 2024
By Iris Barker
Business & Finance
Samsung Electronics increases net profit in Q2 by almost six times
Samsung Electronics reported a drastic increase in net profit, rising to 9.84 trillion South Korean won ($7.11 billion) in the second quarter from 1.72 trillion won in the previous year,…
Published on July 31, 2024
By Iris Barker
Economics
Eurozone inflation unexpectedly accelerates to 2.6% in July
Preliminary data from Eurostat show that consumer prices in the eurozone rose by 2.6% annually in July.
Published on July 31, 2024
By Iris Barker
Economics
WoodMac expects China’s diesel demand to fall threefold by 2050
Sales of liquefied natural gas-powered heavy-duty vehicles in China increased from less than 10% to 30% of the market in the last few months of 2023.
Published on July 31, 2024
By Iris Barker
Business & Finance
PayPal boosts Q2 net income by 10% and improves full-year forecasts
PayPal Holdings, an American payment system, saw an 8% gain in sales and a 10% increase in net profit in the second quarter, both of which above market expectations.
Published on July 31, 2024
By Iris Barker
Economics
Cocoa bean prices fall to lowest since March
Futures prices for cocoa dropped to levels not seen in over four months due to anticipation of lower demand and more supply.
Published on July 30, 2024
By Iris Barker
Economics
Foreign direct investment in China fall by almost 30% in the H1 2024
Mainland China's economy received 29.1% less foreign direct investment (FDI) in January–June compared to the same period previous year.
Published on July 30, 2024
By Iris Barker
Science & Technology
OpenAI launches SearchGPT AI search engine prototype
Artificial intelligence (AI) models are being tested for a "temporary prototype" of new internet search features by US-based OpenAI, the company behind ChatGPT.
Published on July 29, 2024
By Iris Barker
World & Politics
Japan, South Korea and the U.S. sign defense cooperation memorandum
According to the EFE news agency, the defense ministers of South Korea, Japan, and the US signed a pact on trilateral security cooperation on Sunday.
Published on July 29, 2024
By Iris Barker
Business & Finance
Revolut gets banking license in UK 3 years after applying for it
Three years after submitting its application, the British fintech firm Revolut was granted a banking license in the UK.
Published on July 25, 2024
By Iris Barker
World & Politics
Kamala Harris may officially become a U.S. presidential candidate by Aug. 7
Rules approved by the U.S. Democratic Party National Committee will enable Vice President Kamala Harris to formally announce her candidacy for Democratic presidential nominee by August 7. This deadline falls…
Published on July 25, 2024
By Iris Barker
Economics
L’Occitane shareholders agreed to sell the company to billionaire Geiger
French cosmetics manufacturer L'Occitane International SA stated that the sale of the business to billionaire Reinold Geiger has received approval from the majority of its shareholders.
Published on July 24, 2024
By Iris Barker
Economics
Deutsche Bank posts quarterly loss for the first time in four years
The largest bank in Germany, Deutsche Bank AG, reported a net loss of €143 million in the second quarter as a result of expenses for possible legal fees pertaining to…
Published on July 24, 2024
By Iris Barker
Economics
SEC approves spot ETFs on Ethereum
The first applications for spot ETFs—which are comparable to exchange-traded mutual funds—have been registered with the U.S. Securities and Exchange Commission (SEC) using the Ethereum cryptocurrency.
Published on July 23, 2024
By Iris Barker
Business & Finance
Bosch to pay $8B for Johnson Controls divisions
Johnson Controls' heating, ventilation, and air conditioning (HVAC) operations are being acquired by German technology giant Bosch. The transaction is worth $8 billion.
Published on July 23, 2024
By Iris Barker
Economics
UBS raises S&P 500 forecast for the end of this year to 5900 points
According to MarketWatch, UBS analysts upgraded their prediction for the S&P 500 American stock index at the end of the year from 5500 points to 5900 points.
Published on July 21, 2024
By Iris Barker
World & Politics
Harris says she is ready to enter U.S. presidential race
According to CNN, U.S. Vice President Kamala Harris has declared her willingness to compete for the Democratic Party's presidential candidacy.
Published on July 21, 2024
By Iris Barker
Business & Finance
Volvo doubles net profit in Q2 to $1.5 bln, up one and a half times to $1.5 bln
The second-largest truck manufacturer in the world, Swedish Volvo AB, reported a rise in net profit for the second quarter despite a little decline in adjusted operating profit and nearly…
Published on July 19, 2024
By Iris Barker
Economics
Ursula von der Leyen confirmed as head of the European Commission for the second term
Ursula von der Leyen, the President of the European Commission (EC), has been granted a second five-year term by members of the European Parliament (EP).
Published on July 19, 2024
By Iris Barker
Economics
EU allocates €1.2 bln to Baltic States for Rail Baltica construction
The building of the European gauge railway line Rail Baltica in Latvia, Estonia, and Lithuania has been given funds totaling €1.2 billion until 2027 by the European Executive Agency for…
Published on July 18, 2024
By Iris Barker
Economics
More U.S. districts note slowdown in economic activity
According to a regional assessment released by the Federal Reserve (Fed) on Wednesday, dubbed the Beige Book, most US regions' economies grew at a weak (slight) or modest (mild) pace…
Published on July 18, 2024
By Iris Barker
World & Politics
European Parliament elects Roberta Metsola as new President
In the first round of voting on Tuesday, members of the newly formed European Parliament (EP) chose Maltese Roberta Metsola, a candidate from the center-right European People's Party, to be…
Published on July 17, 2024
By Iris Barker
Economics
Global investment banks lower forecasts for China’s GDP in 2024
International investment banks downgraded their projections for the Chinese economy in 2024 following the release of less encouraging than anticipated data regarding the dynamics of the Chinese GDP for the…
Published on July 17, 2024
By Iris Barker
Business & Finance
Burberry to change CEO and suspend dividend payment
One of the top producers of luxury goods in the world, Burberry Group Plc of Britain, said in a press release that it is replacing its CEO and delaying its…
Published on July 16, 2024
By Iris Barker
Economics
Gaza ceasefire talks to resume in Qatar this week
Israeli media said that negotiations on a cease-fire in the Gaza Strip and the release of Israeli detainees will pick back up this week, with negotiating teams predicted to land…
Published on July 16, 2024
By Iris Barker
World & Politics
Trump calls for unity of the nation in party convention speech
Following a murder attempt on his life during a Pennsylvania rally, former US President Donald Trump reportedly revised his address to be delivered at the Republican Party convention on Monday,…
Published on July 15, 2024
By Iris Barker
Business & Finance
FT: It is nearly impossible to sell large office buildings in London
The Financial Times claims that it is nearly impossible to sell large office buildings in London.
Published on July 15, 2024
By Iris Barker
Economics
Lithuania becomes one of the first EU countries to introduce cryptocurrencies licensing
Lithuania has tightened regulation of cryptocurrencies and businesses that deal with crypto-assets and instituted licensing in this domain.
Published on July 11, 2024
By Iris Barker
World & Politics
GEM: China accounts for 64% of global solar and wind power capacity under construction
China is solidifying its status as the world's pioneer in renewable energy.
Published on July 11, 2024
By Iris Barker
Management
HSBC reorganizes investment banking division
According to Bloomberg, which cites sources, British financial giant HSBC Holdings Plc is restructuring its investment banking segment in part.
Published on July 10, 2024
By Iris Barker
Economics
Bank of England notes significant progress in fighting inflation
The British Central Bank's senior economist, Huw Pill, told the Financial Times that the Bank of England is still making "substantial progress" in the fight against inflation.
Published on July 10, 2024
By Iris Barker
World & Politics
Paris prosecutor’s office launches investigation against Marine Le Pen
Le Figaro reports that the Paris prosecutor's office has opened a preliminary investigation into the conditions surrounding the financing of presidential candidate Marine Le Pen's "National Rally" campaign in 2022.
Published on July 10, 2024
By Iris Barker
