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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
ACUMEN
World
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All Stories

Economy

696 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 6/20/2026

Merz Pushes Back on US Drug Probe, Citing EU Trade Pact

German Chancellor Friedrich Merz has forcefully rejected a new US tariff investigation into Germany's drug pricing policies, invoking an existing EU trade pact as a bulwark against Washington's claims of 'persistent underpayment' for innovative medicines. This direct pushback comes as the Donald Trump administration escalates its long-running 'America First' campaign, threatening punitive tariffs on German pharmaceutical exports amidst Berlin's own efforts to rein in soaring healthcare spending.

Editorial Team1 min
Merz Pushes Back on US Drug Probe, Citing EU Trade Pact
Economy 6/19/2026

Silver prices fall sharply as USD surges on hawkish Fed; may test $60

Silver prices have plunged, trading at $64.89 per troy ounce as of June 19, a sharp 8.62% year-to-date decline and well off its June 17 high of $71.57. This retreat is largely a direct consequence of a surging US dollar, buoyed by the Federal Reserve's decidedly hawkish stance following its latest Federal Open Market Committee meeting. The precious metal, which has a significant industrial demand, now eyes the critical $60 support level, raising concerns about further downside if current macroeconomic headwinds persist.

Editorial Team1 min
Silver prices fall sharply as USD surges on hawkish Fed; may test $60
Economy 6/19/2026

UK borrows more than expected as impact of Iran war takes toll - The Guardian

The UK government's borrowing surged to an unexpectedly high £23.3 billion in May 2026, marking the second-highest May on record outside of the pandemic era. This significant fiscal strain is primarily driven by soaring debt interest payments, which hit a record £11.7 billion for the month, as the ongoing Iran War continues to inflict inflationary pressures on the global economy. The new figures from the Office for National Statistics underscore the fragile state of the UK's public finances, intensifying scrutiny on future economic policy.

Editorial Team1 min
UK borrows more than expected as impact of Iran war takes toll - The Guardian
Economy 6/19/2026

Want SpaceX shares? eToro will give you $50 to help hit your investment goals.

eToro is capitalizing on the unprecedented demand for newly public Space Exploration Technologies Corp. (SpaceX) shares by offering new users a $50 bonus in SPCX stock upon registering and depositing a minimum of $200. This promotional push follows SpaceX's colossal $75 billion Initial Public Offering on June 12, 2026, which saw the aerospace giant list on the Nasdaq under the ticker SPCX, immediately becoming one of the world's most valuable companies.

Editorial Team1 min
Want SpaceX shares? eToro will give you $50 to help hit your investment goals.
Economy 6/19/2026

ETMarkets Smart Talk | AI is real, but AI valuations are not; we are in the FOMO stage of the bubble: Carnelian’s Manoj Bahety

Manoj Bahety, Founder and Fund Manager at Carnelian Asset Management & Advisors, has issued a stark warning against the 'FOMO stage' of the Artificial Intelligence (AI) market, asserting that while the technology itself is transformative, its current valuations are dramatically inflated, reminiscent of past market bubbles. This caution comes amidst a turbulent June 2026, where AI chip stocks experienced a significant 10% plunge in the Philadelphia Semiconductor Index before a rapid, though precarious, recovery, highlighting extreme volatility.

Editorial Team1 min
ETMarkets Smart Talk | AI is real, but AI valuations are not; we are in the FOMO stage of the bubble: Carnelian’s Manoj Bahety
Economy 6/19/2026

BHP preparing to sell Chile power transmission lines valued at ~$1.5B - report

Global mining behemoth BHP is reportedly shedding its Chilean power transmission assets, valued at approximately $1.5 billion, to sharpen its strategic focus squarely on copper mining. This divestment, which includes roughly 1,000 kilometers of lines serving its major copper operations, signals a pivotal shift by the world's largest miner to realign its portfolio with commodities poised for long-term demand growth amid the accelerating global electrification and energy transition.

Editorial Team1 min
BHP preparing to sell Chile power transmission lines valued at ~$1.5B - report
Economy 6/19/2026

UAE and Indian banks form strategic partnership reflecting Indian economic growth

In a landmark move redefining cross-border financial landscapes, Dubai's Emirates NBD has completed its approximately $2.75 billion acquisition of a majority 60% stake in India's RBL Bank on June 18, 2026. This monumental transaction marks the largest foreign direct investment in India's banking sector to date and the first instance of a foreign bank securing a controlling interest in a profitable Indian lender. The deal was lauded by Maharashtra Chief Minister Devendra Fadnavis and Union Finance Minister Nirmala Sitharaman, who joined the formal announcement, signaling robust government endorsement for deepening UAE-India financial ties.

Editorial Team1 min
UAE and Indian banks form strategic partnership reflecting Indian economic growth
Economy 6/19/2026

Bitcoin Plunges To $62,500, Ethereum, XRP Lose 5%: What Is Going?

Cryptocurrency markets are in freefall, with Bitcoin plummeting below $63,000 and Ethereum and XRP shedding substantial value, as a hawkish pivot from the Federal Reserve under new Chair Kevin Warsh sends shivers through risk assets. Simultaneously, AI-linked equities are defying the broader market jitters, with sector leaders like Cipher Digital, WhiteFiber, and IREN hitting new highs, spotlighting a dramatic and widening divergence in investor sentiment. The immediate catalyst is the FOMC's decision to hold rates but signal a clear bias towards future hikes, coupled with Warsh's abrupt termination of forward guidance.

Editorial Team1 min
Bitcoin Plunges To $62,500, Ethereum, XRP Lose 5%: What Is Going?
Economy 6/18/2026

Europe gas fall for sixth session as peace-deal unwinds risk preminum

European natural gas contracts plunged for a sixth consecutive session, nearing two-month lows on Thursday, following an interim peace deal signed between the United States and Iran. This landmark agreement, which includes the vital reopening of the Strait of Hormuz, has initiated a significant unwinding of the geopolitical risk premium that has gripped energy markets for months. The benchmark Dutch front-month contract dropped to 40.04 euros per megawatt hour, while the British equivalent fell below the 100-mark to 96.45 pence per therm, reflecting immediate market relief.

Editorial Team1 min
Europe gas fall for sixth session as peace-deal unwinds risk preminum
Economy 6/18/2026

BHP takes $2.3 billion potash charge as costs jump again

BHP Group, the world's largest miner, has announced a hefty $2.3 billion impairment charge on its massive Jansen potash project in Saskatchewan, Canada, as the cost for the Stage 2 expansion surges by an additional $2 billion to $6.9 billion. This marks the third time the project has blown past its budget and timeline estimates, pushing the total expected cost for the combined Jansen mine to a staggering $15.3 billion and delaying Stage 2's first production to late fiscal year 2031. The writedown casts a shadow over a key diversification pillar for BHP, intended to bolster its exposure to future-facing commodities beyond its traditional iron ore and copper mainstays.

Editorial Team1 min
BHP takes $2.3 billion potash charge as costs jump again
Economy 6/18/2026

Europe tries to take on China without launching a new trade war

European Union leaders, convening in Brussels today, are locked in a tense debate over how to confront China's burgeoning industrial might and a record daily trade deficit now exceeding €1 billion, without igniting a full-blown trade war. The delicate balancing act underscores a deepening internal rift, with France pushing for aggressive new trade defense instruments akin to those deployed by the U.S., while Germany and Spain urge caution to protect their substantial economic ties with Beijing.

Editorial Team1 min
Europe tries to take on China without launching a new trade war
Economy 6/18/2026

Currency Check: Rupee opens 16 paise lower as hawkish Fed boosts rate hike bets

The Indian Rupee kicked off Thursday's trading session down 16 paise against the US Dollar, a direct fallout from a decidedly hawkish tilt by the US Federal Reserve, which has intensified market expectations for future rate hikes. This currency depreciation occurred despite the Fed holding its key interest rate steady at 3.5%-3.75% on Wednesday, a pause maintained since December 2025, but the tone from the first policy meeting chaired by newly appointed Fed leader Kevin Warsh signaled a renewed commitment to taming persistent inflation.

Editorial Team1 min
Currency Check: Rupee opens 16 paise lower as hawkish Fed boosts rate hike bets
Economy 6/18/2026

Modi reports 'significant progress' in US-India trade talks after Trump meeting

Indian Prime Minister Narendra Modi and U.S. President Donald Trump have signaled 'significant progress' in long-running trade negotiations, announcing they are 'very close' to finalizing an interim bilateral trade agreement. The breakthrough came during their meeting on the sidelines of the G7 Summit in Evian-les-Bains, France, on June 17, 2026, marking a critical juncture in economic and geopolitical alignment between the two nations.

Editorial Team1 min
Modi reports 'significant progress' in US-India trade talks after Trump meeting
Economy 6/18/2026

World News | US Trade Rep Jamieson Greer to Visit India Next Week as Interim Trade Talks Gather Pace

US Trade Representative Jamieson Greer is set to arrive in New Delhi on June 22 for high-stakes discussions with India's Commerce and Industry Minister Piyush Goyal, aiming to finalize the framework of an interim bilateral trade agreement. This critical visit, following recent momentum from Prime Minister Narendra Modi's and President Donald Trump's meeting at the G7 Summit in France, signals intensified efforts to resolve long-standing trade disputes and deepen economic ties between the world's two largest democracies.

Editorial Team1 min
World News | US Trade Rep Jamieson Greer to Visit India Next Week as Interim Trade Talks Gather Pace
Economy 6/18/2026

Stock Market Slumps After Fed Meeting. Interest Rates Rise, But Growth Stocks Keep Humming.

The Federal Reserve, under its new Chair Kevin Warsh, delivered an unexpectedly hawkish message on Wednesday, sending U.S. equities tumbling despite unanimously holding the benchmark federal funds rate steady at 3.50%-3.75%. The S&P 500 and Nasdaq Composite both plunged over 1%, signaling investor alarm at the prospect of higher-for-longer interest rates and contradicting any notion of continued outperformance for growth stocks. This sharp market reaction underscores a critical pivot in monetary policy outlook.

Editorial Team1 min
Stock Market Slumps After Fed Meeting. Interest Rates Rise, But Growth Stocks Keep Humming.
Economy 6/18/2026

South Korea's KOSPI index tops 9,000 for first time as chipmakers rally

South Korea's KOSPI index has surged past the 9,000-point threshold for the first time in its history on Thursday, a monumental leap fueled by an unbridled rally in the nation's dominant chipmakers. Heavyweights Samsung Electronics and SK Hynix spearheaded the charge, their stocks hitting fresh records as global optimism around artificial intelligence (AI) continues to electrify markets. This milestone cements the KOSPI's position as a world-leading performer in the current AI-driven bull run, showcasing remarkable gains this year and last.

Editorial Team1 min
South Korea's KOSPI index tops 9,000 for first time as chipmakers rally
Economy 6/18/2026

Reporter's Notebook: Capitol Hill's legislative clock is ticking ahead of the midterms

The legislative clock on Capitol Hill is once again ticking towards a potential government shutdown, as Congress grapples with stalled Fiscal Year 2027 spending bills amid intense partisan wrangling and the looming November 2026 Midterm Elections. This comes just months after the Department of Homeland Security endured a record 76-day partial shutdown in early 2026 over immigration enforcement disputes, eventually resolved by a June 10 Budget Reconciliation bill that injected over $70 billion into Immigration and Customs Enforcement and Customs and Border Protection. The current gridlock underscores how the political incentives of an election year are deeply intertwined with critical fiscal deadlines.

Editorial Team1 min
Reporter's Notebook: Capitol Hill's legislative clock is ticking ahead of the midterms
Economy 6/18/2026

UK India Business Council Celebrates Final Go Ahead To FTA

The long-anticipated UK-India Free Trade Agreement (FTA), formally known as the Comprehensive Economic and Trade Agreement (CETA), is set to enter into force on July 15, 2026, marking a significant milestone in bilateral economic ties. The UK India Business Council (UKIBC) welcomed the announcement made on Wednesday, signaling the final go-ahead for a deal poised to dramatically reshape trade between the two nations. This breakthrough follows extensive negotiations and recent resolution of a sticking point concerning UK steel safeguard measures, solidifying a pact that both governments believe will unlock substantial economic benefits.

Editorial Team1 min
UK India Business Council Celebrates Final Go Ahead To FTA
Economy 6/17/2026

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

The International Energy Agency (IEA) has sharply revised its 2026 global oil demand forecast downwards, predicting a 1.1 MMbpd decline as the world grapples with the protracted impact of the Strait of Hormuz closure. This critical reassessment, revealed in its latest monthly report, comes amidst a delicate US-Iran interim agreement to reopen the vital waterway, yet the agency projects a significant global oil surplus by 2027, signalling a complex and volatile rebalancing for energy markets.

Editorial Team1 min
IEA sees gradual Hormuz recovery tipping into significant 2027 surplus
Economy 6/17/2026

Russian oil exports total 7.35 mln bpd in May, revenues fall to $20.79 bln — IEA

A paradoxical shift is underway in Russia's energy complex: despite Ukrainian drone strikes crippling its domestic refining capacity and causing a 10% production shortfall against its May target, the nation's total crude oil exports surprisingly surged by 170,000 barrels per day. This unexpected increase, however, did not translate to higher earnings, as Moscow's total oil export revenues plummeted to $20.79 billion in May, a $710 million drop month-on-month, largely due to easing global prices and deeper discounts on its Urals crude.

Editorial Team1 min
Russian oil exports total 7.35 mln bpd in May, revenues fall to $20.79 bln — IEA
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