President Joe Biden arrives in New Delhi for the G20 Summit, aiming to counter Russian and Chinese aggression while demonstrating the US's commitment to developing countries, despite the absence of Xi Jinping and Vladimir Putin.
China's CMOC Group plans to increase its copper output in the Democratic Republic of Congo to 600,000 metric tons next year after resolving a dispute with state-miner Gecamines, making it one of the world's top 10 copper producers.
The US saw a 54% increase in bankruptcies in August, with small and mid-cap companies being hit the hardest, as the Federal Reserve's aggressive interest rate hikes and higher borrowing costs continue to take a toll on businesses.
Poland's central bank governor justifies the large interest rate cut despite high inflation, stating that prices are stabilizing.
Australia's economy may not experience a soft landing, according to Treasurer Jim Chalmers, due to potential risks such as China's slowing economy and a slump in household consumption resulting from rising interest rates.
Many Americans have a significant amount of home equity that can be tapped into, with homeowners sitting on nearly $30 trillion in equity, but borrowers should carefully consider the terms, rates, and risks associated with borrowing against their homes.
The US dollar is on track for its longest rally in years as the strength of the economy fuels speculation that the Federal Reserve will keep interest rates elevated, drawing money into the US as investors seek higher rates than they can get in Europe and Asia.
New York City's new law requiring hosts of short-term rentals to register and be present during the stay has caused thousands of listings to disappear from platforms like Airbnb, leading to concerns about loss of income and privacy for hosts, while proponents argue that it will help address the city's shortage of affordable housing.
India's G20 presidency may be seen as a failure in terms of achieving global consensus, but it has been successful in boosting India's image, promoting its leadership in the "global south," and enhancing the personality cult of Prime Minister Narendra Modi domestically.
Trade unions in the US are experiencing a resurgence, with an increase in strikes and rising public support, and this is now extending to American firms abroad, as workers at Chevron plants in Australia consider going on strike.
China is redesigning its Belt and Road Initiative (BRI) to save it from criticism and growing skepticism at home amid a slowing economy, shifting towards smaller projects with quicker benefits and a greater sense of ownership for local people.
Workers in the United States are increasingly engaging in strikes and labor unrest, with 16 major strikes occurring in the country so far this year, the highest number since 2005, posing potential challenges for American businesses both domestically and abroad, as demonstrated by the threat of a strike at Chevron's plants in Australia.
The Gulf countries aim to reshape the Middle East in their own image, with booming economies and diminishing conflicts, but they face the looming threat of climate change.
The U.S. debt is expected to reach $2 trillion this year, doubling from the previous year, due to a decline in global economic growth.
Developing countries, including members of the BRICS and ASEAN alliances, are actively seeking to reduce their dependency on the US dollar and promote their local currencies for global trade, with a total of 21 countries officially agreeing to ditch the US dollar in 2023.
The number of Americans filing for jobless benefits unexpectedly dropped to the lowest level since February, indicating a relatively tight job market despite recent signs of softening.
China's Belt and Road Initiative is facing challenges and losing steam due to economic downturn, rising debt, defaults, and the impact of COVID-19, prompting a rethink by Beijing to boost profitability and address concerns about the debt burden on participating countries.
JPMorgan predicts that Turkish interest rates will increase by 10 percentage points in the next two central bank meetings due to fiscal spending plans and higher inflation.
The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months, indicating a resilient labor market despite higher interest rates aimed at curbing hiring.
Unit-labor costs in the US rose at a revised 2.2% annual rate in the second quarter, indicating an increase in wage inflation.
China's total import and export value in the first 8 months of this year slightly decreased by 0.1 percent compared to the previous year, but exports have continued to grow and the global market share remains stable, highlighting the overall stability of China's foreign trade operations.
The eurozone's GDP barely grew in the second quarter, with weak exports and sluggish domestic consumption contributing to worse-than-expected results.
Initial jobless claims fell by 13,000 to 216,000 in the week ended Sept. 2, the lowest level since mid-February, defying economists' expectations of a rise.
Transactions in the Indian digital rupee are currently averaging close to 18,000 per day, far below the goal of one million transactions per day by the end of the year.
US nonfarm productivity increases by 3.5% in Q2 2023, while unit labor costs rise by 2.2%.
Gold prices in Pakistan continued to decline for the fourth consecutive day, in line with international rates, as the domestic price of 24 karat gold fell by Rs5,800 per tola and Rs4,972 per 10 grammes to settle at Rs216,500 and Rs185,614 respectively, while the price of silver 24 karat dropped by Rs50 per tola and Rs42.87 per 10 grammes to settle at Rs2,650 and Rs2,271.94 respectively; meanwhile, the rupee gained Rs2.03 against the US dollar in the interbank trading, closing at Rs304.94.
India's micro, small, and medium enterprises (MSMEs) are struggling to survive due to a series of shocks, including the COVID-19 pandemic, and are facing challenges such as changing consumer preferences and competition from cheap imports, putting their future at risk.
The dollar strengthens against the yen and keeps the euro and sterling near three-month lows as investors rely on the resilience of the U.S. economy, while China's onshore yuan hits a 16-year low due to a property slump and weak consumer spending.
Americans are experiencing a "vibecession" as consumer sentiment remains low despite a healthy market, but the link between sentiment and economic indicators has been severed since the COVID-19 pandemic, making predictions inaccurate.
Americans are experiencing low consumer sentiment, with claims of a "vibecession," but recent changes in economic indicators have weakened the predictive power of sentiment, suggesting that bad vibes may be the new normal.
India has lifted additional duties on American products, including chickpeas, lentils, and apples, ahead of US President Joe Biden's visit for the G20 Summit. The move comes as part of an agreement to settle WTO disputes and eliminate retaliatory tariffs.
The Chinese yuan has dropped to a 16-year low against the dollar due to concerns over a deepening economic slowdown in China, with data showing a decline in exports for the fourth consecutive month.
Argentina's peso currency is at risk of another devaluation after the upcoming presidential election, with estimates suggesting a 16.6% devaluation in the three months following the vote.
The post-pandemic comeback of cruises may be dampened by economic uncertainty and sticky inflation, potentially impacting future demand.
The global head of fixed income research at HSBC, Steven Major, argues that despite recent market volatility, the overall trend is still one of "lower for longer" interest rates and bond yields, due to factors such as debt overhang, aging populations, rising inequality, and technological advances that have not yet proven to be productivity game-changers.
The Euro Area's q/q growth is minimal, with the latest GDP release showing only a 0.1% expansion, raising concerns about the effectiveness of the ECB's monetary policy, while the US dollar remains strong due to robust Treasury yields and Euro weakness.
Norway's sovereign wealth fund, worth $1.4 trillion, is closing its only office in China due to rising tensions between the United States and China, but will continue to invest in the country.
Bola Tinubu's promised reforms lack real plans, India's cities need more autonomy, and video games are becoming less violent.
A policy paper prepared under India's G20 Presidency recommends licensing crypto service providers and implementing anti-money laundering standards in the sector, while cautioning against an outright ban on cryptocurrencies due to their borderless nature. The paper also addresses concerns about stablecoins and their potential impact on financial stability.
Analysts have lowered their short-term forecasts for the Canadian dollar due to China's weakening economy and the widening yield gap between the US and Canada, but still project the currency to strengthen in the long term.
Inflation has decreased significantly in recent months, but the role of the Federal Reserve in this decline is questionable as there is little evidence to suggest that higher interest rates led to lower prices and curtailed demand or employment. Other factors such as falling energy prices and the healing of disrupted supply chains appear to have had a larger impact on slowing inflation.
Singapore has launched the Coastal Protection and Flood Resilience Institute to find long-term solutions to protect the country from rising sea levels caused by climate change.
Five major state banks in China, including ICBC and China Construction Bank, will lower interest rates on existing mortgages for first-home loans as part of support measures to aid homebuyers and stabilize the property sector.
The onshore yuan dropped to a 16-year low against the dollar, reflecting growing pessimism towards China's economy and financial markets.
The US economy is predicted to enter a recession by spring, leading to a 25% or more crash in the S&P 500, according to economist David Rosenberg, who warns that American consumers are nearing their spending limits and rising home prices reflect a weak housing market.
Country Garden Holdings, the largest private developer in China, narrowly avoided defaulting on its debt this week but faces doubts from creditors about its ability to service upcoming obligations without liquidity support, amidst a grim outlook for the country's property sector.
India has dropped retaliatory customs tariffs on American goods such as almonds, apples, walnuts, and lentils, just before U.S. President Joe Biden's visit to New Delhi for a bilateral meeting and the G-20 Summit.
The Biden administration's export ban is causing China's largest contract chipmaker, SMIC, to face restrictions on export sales, leading to concerns about the acceleration of the US-China tech war.
Bankruptcies have increased by 17% in August, marking the 13th consecutive month of rising company failures, as businesses struggle to cope with the Federal Reserve's interest-rate hikes.
German industrial production fell by 0.8% in July, slightly more than expected, highlighting the challenges faced by the sector due to a winter downturn and weak global economy.