Thousands of flights were cancelled in the UK due to a network-wide airspace failure caused by technical issues, with the effects expected to last for days.
A potential economic downturn in China may have implications for other countries, but the impact on the United States is expected to be minor due to limited exposure to China's economy.
London's Ultra Low Emission Zone (ULEZ) will expand to cover almost all of Greater London, aiming to improve air quality by discouraging drivers of older, more polluting vehicles from visiting the capital, with exemptions for certain vehicles and individuals.
Indian Prime Minister Narendra Modi's exchange with Chinese President Xi Jinping at the BRICS summit in South Africa suggests a potential thawing of the financial relationship between the two countries, with India showing interest in a larger Chinese presence in its businesses and a softening of its screening policy for investments.
West Virginia University's plan for growth has resulted in negative consequences.
Asian markets rose on Monday after Federal Reserve chief Jerome Powell indicated a cautious approach to interest rate hikes, and Chinese shares surged following a cut in the duty on trades by the government.
Japan's government and ruling party plan to support the country's startup ecosystem by making it easier for outside specialists to receive stock options without high taxes.
The post-pandemic global economy may face slow growth due to record levels of government debt, geopolitical tensions, weak productivity gains, and the fragmentation of the global trading system, which could hinder development in some countries even before it begins.
The global economy may face slow growth due to record levels of government debt, geopolitical tensions, and weak productivity gains, which could hinder development in some countries even before it begins.
Globalization is shifting towards a strategy of security of supply, with companies diversifying their manufacturing operations and seeking suppliers closer to home, such as India, in order to reduce risks and uncertainties associated with relying solely on China.
Investors have been building up bets on the Federal Reserve announcing an end to its rate hikes, but the central bank's preferred inflation data and Chair Jerome Powell's comments suggest that the cycle may not be over yet.
The "urban doom loop" is a growing concern as commercial real estate vacancies rise in midsize cities, leading to a decline in tax revenue, spending, and employment, with the potential to trigger a financial crisis.
Bank of Japan Governor Kazuo Ueda expressed concern over China's weak economic activity, particularly in the property sector, which could impact Japan's economic outlook, while also highlighting the potential risks of geopolitical tensions and trade wars.
The rise of non-traditional family structures in East Asia is having significant demographic effects, while hip-hop, originating in New York, continues to gain global popularity after 50 years.
President Joe Biden claims that his economic vision, known as "Bidenomics," is working, highlighting achievements such as reducing Black unemployment, cutting child poverty, and promoting clean energy, while Republicans criticize the approach and public opinion remains skeptical.
Global shares rise as investors are relieved by the Federal Reserve's cautious approach to interest rates, with Japan's Nikkei 225 and Hong Kong's Hang Seng among the indices posting gains.
The growth in lending to euro zone companies slowed in July due to higher interest rates, signaling a potential brake on credit creation and economic growth.
Gulf stock markets have a mixed performance as higher oil prices are offset by concerns over potential interest rate hikes by the US Federal Reserve.
India's inflation must be brought within the central bank's tolerance band before the war on inflation can be relaxed, according to a member of the monetary policy committee, who also expects inflation to resume its downward trajectory in the next quarter.
U.S. Commerce Secretary Gina Raimondo emphasizes the importance of a stable economic relationship between the United States and China during talks with Chinese officials, aiming to boost business ties despite challenges and disagreements.
China's foreign ministry announced that starting from August 30, inbound travelers to the country will no longer be required to undergo a pre-departure antigen test for COVID-19.
Commerce Secretary Gina Raimondo emphasizes the importance of a stable economic relationship between the US and China during talks with Chinese officials, aiming to strengthen business ties despite disagreements on certain issues.
Germany's opposition party claims that the country's recession is a result of the bureaucracy surrounding its green energy policies, which are led by The Greens in coalition with the Social Democrats, and warns that the situation will worsen if the excessive bureaucracy and high energy prices are not addressed.
Investors are becoming increasingly concerned about the state of China's economy as informal gauges, such as PMI surveys and soft surveys, indicate a deep-seated confidence problem and a potential miss of the country's 5% growth target this year, leading to a retreat from global assets exposed to the slowdown.
Vietnam's Prime Minister Pham Minh Chinh is facing pressure to meet the country's economic growth target as disagreements arise between him and the State Bank of Vietnam, potentially jeopardizing his political career.
The Wall Street Journal criticizes India's low female workforce participation and advocates for communist-inspired economic policies, despite the fact that China's similar policies have led to economic and demographic collapse.
Chinese property giant Evergrande's shares plummeted over 80% in Hong Kong after trading resumed following a 17-month suspension, reflecting the challenges faced by China's real estate sector amid a post-pandemic slump and a nationwide property crisis.
China's new home prices are expected to show no growth in 2023, reflecting the pressure on the crisis-hit property sector and the need for policymakers to restore confidence in the economy.
India is positioning itself as an alternative to China in the global supply chain, aiming to become a major manufacturing hub and increase its role in the production of goods, as the world seeks solutions to supply chain disruptions caused by health crises and geopolitical events.
Sky-high food inflation in India, caused by erratic monsoon rains, is leading to low sales and steep discounts in the fashion retail sector, raising concerns about consumer spending.
China's new home prices are expected to show no growth this year, reflecting the ongoing pressure in the crisis-hit property sector and the struggle to restore confidence among policymakers.
The economy is experiencing a soft landing, but the long-term consequences of easy money policies are still uncertain, with bankruptcies and a potential shakeout in office real estate looming.
Federal Reserve Chair Jerome Powell warned that inflation and economic growth remain too high, indicating that interest rates may continue to rise and remain restrictive for longer. However, markets rebounded, with US stocks rallying and Asian markets starting the week on a high note. The Hong Kong stock market saw contrasting performances, with China Evergrande Group plunging while Xpeng soared. US Trade Representative Katherine Tai highlighted China's dominance in rare earth metals, making US supply chains vulnerable. Investors will be watching for the Personal Consumption Expenditure report and the August jobs report to gauge the Fed's future rate decisions. Powell's ambiguous remarks left room for interpretation, with markets focusing on the positive outlook for economic growth rather than the cautionary tone on interest rates.
Stockbrokers who traditionally sell their positions in May and return on St Ledger's Day in September may be in for trouble this year, as indicators such as the copper-gold ratio and predictions from investors like Michael Burry suggest a potential market crash and recession.
The BRICS nations are divided on the issue of de-dollarization, as statements from the bloc's leaders indicated, despite discussions about the creation of a common currency to rival the US dollar.
Chinese blue chips rally as Beijing introduces measures to support the market, including reducing stamp duty on stock trading and approving the launch of retail funds, while US Commerce Secretary Gina Raimondo begins talks with Beijing to boost business ties.
The United States' pandemic-induced stimulus measures have led to the printing of nearly 80% of all dollars in circulation since 2020, resulting in severe detrimental effects on the economy, including surging prices and inflation.
Shares in Chinese property giant Evergrande collapsed as they resumed trading in Hong Kong after 17 months, while Asian markets advanced following Federal Reserve chief Jerome Powell's cautious approach to rate hikes and China's decision to cut the duty on trades.
India and the UAE have agreed to settle bilateral trade in their own currencies, a move that is expected to strengthen economic relations and boost exports for India. The agreement aims to lower transaction costs and reduce uncertainty caused by fluctuating exchange rates, benefiting both countries and de-risking their dependence on reserve currencies.
Chinese developer Country Garden reassured investors that its $100 billion project in Malaysia is proceeding as planned and that it has sufficient assets, despite concerns about its financial strength and missed coupon payments. The company's projects in Malaysia are operating normally and its overall operation in the region is "safe and stable," according to a statement from its Singapore and Malaysia unit. Malaysia's central bank also stated that the current situation with Country Garden is not expected to have a material impact on the property market in Malaysia.
The accuracy of Nigeria's unemployment rate has come under question after the National Bureau of Statistics (NBS) reported a drop from 33.1% to 4.1%. Many stakeholders, including the immediate past CEO of NBS, Dr Oyeyemi Kale, have criticized the new methodology, arguing that it is out of touch with reality and fails to capture the true extent of unemployment in the country. The NBS now counts individuals working as little as one hour a week or engaged in low-productivity activities as employed, a definition that has been widely criticized as unrealistic.
The Pakistani rupee has fallen below 300 to a US dollar due to factors such as the rise of the dollar, uncertainty surrounding general elections, and a political/judicial/constitutional crisis, resulting in eroded business confidence, increased inflation, and reduced industrial output.
Stocks rise as markets shift focus from the Federal Reserve to corporate and economic reports, with the S&P 500 and Dow Jones Industrial Average both experiencing gains, while investors await upcoming economic data and inflation updates.
Australian retail sales rebounded in July, but the annual rate slowed, indicating that high borrowing costs are slowing consumer spending and not affecting the outlook for interest rates.
The healthcare sector is facing significant challenges, including financial pressures, workforce constraints, and economic headwinds, leading to bankruptcies and restructuring for many organizations.
India's adversarial relationship with China and its moves to block imports and investment from China could complicate its involvement in BRICS, as China seeks to expand the group and use it as a platform to challenge Western dominance.
Thailand's employment growth slowed in the second quarter of 2023 as economic growth decelerated, with job growth mainly in the tourism and construction sectors, according to the state planning agency.
China's commodities sector, including coal mining and metals production, is experiencing declining profits due to the worsening property crisis and economic slowdown, with steel producers being the hardest hit. However, there is potential for growth in metals firms linked to the energy transition, particularly in China's green copper consumption driven by electric vehicles and renewable power.
Evergrande Group, the highly indebted Chinese real estate developer, has reported a narrower net loss for the first half of the year thanks to a rise in revenue driven by the property market's short-term boom, despite the company facing financial struggles and applying for bankruptcy in the US.
The dollar retreated from a 12-week high as Federal Reserve Chair Jerome Powell hinted at the possibility of further rate hikes, while the euro saw a slight increase after China reduced its stamp duty on stock trading.