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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
ACUMEN
World
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Economy

1000 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 7/16/2026

Oil Prices Surge as US-Iran War Escalates; Goldman Sachs Eyes $110 Brent

The price of Brent crude oil is on a sharp upward climb, hitting $85.98 per barrel today after a 1.22% jump from yesterday and an 8.09% surge over the last month. This rally comes amidst a dangerous escalation in the US-Iran conflict, with the US launching multiple strikes on Iranian military targets near the crucial Strait of Hormuz, prompting fears of wider disruptions to global oil supplies. Investment giant Goldman Sachs now warns that Brent could even hit $110 per barrel by the fourth quarter of 2026 if disruptions in Gulf oil exports continue.

Editorial Team1 min
Oil Prices Surge as US-Iran War Escalates; Goldman Sachs Eyes $110 Brent
Economy 7/16/2026

US Fed Enlists Global Economic Heavyweight Raghuram Rajan for Crucial Balance Sheet Overhaul

Former Reserve Bank of India Governor Raghuram Rajan has joined a high-profile US Federal Reserve task force, spearheading a critical review of the central bank's massive $6.7 trillion balance sheet. This significant appointment by newly confirmed Fed Chairman Kevin Warsh signals a serious push for sweeping reforms in monetary policy, aiming to tackle years of persistent inflation and reshape the Fed's future direction. Rajan is one of three Indian-origin experts tapped for these influential panels, underscoring their growing global recognition.

Editorial Team1 min
US Fed Enlists Global Economic Heavyweight Raghuram Rajan for Crucial Balance Sheet Overhaul
Economy 7/16/2026

China's Central Bank Nudges Yuan Weaker, Injects Billions to Spark Growth

In a clear signal of its intent to stimulate a slowing economy, China's central bank, the People's Bank of China (PBOC), today set the yuan's official reference rate weaker than market expectations, fixing it at 6.7909 against the US dollar compared to an estimated 6.7577. This surprising move, which suggests the PBOC is comfortable with a softer currency, comes alongside a massive injection of 626 billion yuan into the financial system via 7-day reverse repos, aiming to boost liquidity and support domestic demand.

Editorial Team1 min
China's Central Bank Nudges Yuan Weaker, Injects Billions to Spark Growth
Economy 7/16/2026

Bank of Canada Holds Rates Steady Amid Rebound Hopes, Geopolitical Risks

The Bank of Canada has held its benchmark key interest rate steady at 2.25% for the sixth consecutive time, as policymakers balance signs of economic recovery against persistent inflation risks and global uncertainty. While the central bank forecasts a rebound for the Canadian economy after a sluggish start to the year, it acknowledges that a recent spike in inflation, driven by escalating geopolitical tensions, remains a key concern.

Editorial Team1 min
Bank of Canada Holds Rates Steady Amid Rebound Hopes, Geopolitical Risks
Economy 7/16/2026

Adani Swears No US Deal Behind Bribery Case Dismissal; Judge Weighs 'Quid Pro Quo' Claims

Gautam Adani, the chairman of India's Adani Group, has formally denied under oath that any 'quid pro quo' or secret deal was behind the US Department of Justice's decision to drop a high-profile criminal indictment against him and seven others. In a sworn affidavit submitted by the July 15 deadline, Adani stated he was unaware of any promises or agreements tied to the dismissal, explicitly denying that his group's proposed $10 billion investment in the United States influenced the DOJ's move. This affidavit was a direct response to US District Judge Nicholas Garaufis, who is scrutinizing the DOJ's unusual request to dismiss the charges.

Editorial Team1 min
Adani Swears No US Deal Behind Bribery Case Dismissal; Judge Weighs 'Quid Pro Quo' Claims
Economy 7/15/2026

India Bans Forced Labor Imports, Bolstering Trade Rules Amid US Tariff Pressure

India has just made a big move in global trade, banning the import of goods made using forced labor. This change to the country's Foreign Trade Policy (FTP) 2023, announced on July 13, 2026, by the Directorate General of Foreign Trade (DGFT), will take full effect in 30 days and aims to align India's trade rules with international labor standards. The decision comes as the United States is investigating 60 countries, including India, over forced labor concerns and has threatened to impose new tariffs.

Editorial Team1 min
India Bans Forced Labor Imports, Bolstering Trade Rules Amid US Tariff Pressure
Economy 7/15/2026

Hormuz Strait: Japan's Warning Signals Escalating US-Iran Trade War Fallout

The Strait of Hormuz, a critical global choke point for energy supplies, is effectively closed to commercial shipping, warned Masahiro Okafuji, head of a major Japanese business lobby, on Wednesday, citing the raging US-Iran conflict. This stark assessment arrives amid intensified hostilities in the Persian Gulf, with Iran's Revolutionary Guard Corps (IRGC) declaring the vital waterway off-limits until 'the end of America's evils,' following renewed US military strikes and a reimposed US naval blockade on Iranian ports. The crisis, now in its fifth month, is disrupting a passage that typically handles over 20% of the world's seaborne oil trade and a substantial portion of liquefied natural gas (LNG) shipments.

Editorial Team1 min
Hormuz Strait: Japan's Warning Signals Escalating US-Iran Trade War Fallout
Economy 7/15/2026

Global Economic Headwinds Mount: China's Growth Stalls, UK Firms Battle Funding Crises

China's economic engine just clocked one of its slowest growth rates on record, hitting 4.3% in Q2 2026, falling short of analyst expectations and the government's own targets. This sluggish performance highlights a broader global economic unease, as even established giants like the UK's Thames Water grapple with a funding tightrope and major housebuilders like Barratt Redrow scramble to reassure investors amidst a challenging market.

Editorial Team1 min
Global Economic Headwinds Mount: China's Growth Stalls, UK Firms Battle Funding Crises
Economy 7/15/2026

Ringgit and Singapore Dollar Shine Amidst Strong Greenback, Oil Price Surge

Even as the mighty US Dollar flexes its muscles globally, the Malaysian Ringgit and Singapore Dollar are proving to be surprisingly resilient, with analysts at Standard Chartered Bank forecasting them to outperform other Asian currencies this year. This positive outlook, shared across several financial institutions, is largely thanks to robust economic health and a boost from higher global oil prices, especially for Malaysia which is a net energy exporter. While many regional currencies struggle under the greenback's strength and rising commodity costs, these two Southeast Asian economies are holding their own.

Editorial Team1 min
Ringgit and Singapore Dollar Shine Amidst Strong Greenback, Oil Price Surge
Economy 7/15/2026

India-UK FTA Kicks Off, Fueling India's Developed Economy Ambitions

The long-awaited India-UK Free Trade Agreement (FTA), officially known as the Comprehensive Economic and Trade Agreement (CETA), along with a crucial Double Contribution Convention (DCC) on social security, officially came into force today, July 15, 2026. This landmark deal is set to reshape bilateral trade, offering zero-duty market access for nearly 99% of India's exports to the UK and promising significant boosts to both economies.

Editorial Team1 min
India-UK FTA Kicks Off, Fueling India's Developed Economy Ambitions
Economy 7/15/2026

Burnham Faces Day One Economic Gauntlet as Labour MPs Demand Fiscal Guardrails

Andy Burnham, set to become the UK's next Prime Minister on July 20th, is already navigating a stormy economic outlook as a new group of Labour MPs forms to ensure he adheres to his core electoral promises. The incoming premier faces immediate warnings from senior civil servants about a 'souring UK economy,' rising borrowing costs, and potential interest rate hikes, all under the shadow of an ongoing Iran war. This internal party scrutiny underscores the delicate balance Burnham must strike between ambitious policy delivery and prudent fiscal management from day one.

Editorial Team1 min
Burnham Faces Day One Economic Gauntlet as Labour MPs Demand Fiscal Guardrails
Economy 7/15/2026

Mitsubishi's $7.5B Gas Gamble: Fueling AI's Future and Japan's Energy Security

In a game-changing move, Japanese trading giant Mitsubishi Corporation has taken over $7.5 billion in U.S. natural gas fields from Aethon Energy, marking its largest acquisition ever and a colossal bet on surging global gas demand. This groundbreaking deal isn't just about securing more energy; it's a strategic pivot to fuel the rapidly expanding AI boom, which demands enormous amounts of reliable power.

Editorial Team1 min
Mitsubishi's $7.5B Gas Gamble: Fueling AI's Future and Japan's Energy Security
Economy 7/15/2026

India's Market at a Crossroads: Valuations High, AI Correction Looms, Warns Spark CIO

P Krishnan, the Chief Investment Officer at Spark Asia Impact Managers, has issued a sharp warning that India remains one of the more expensive markets globally even when you consider its growth prospects. His firm believes the market is overlooking the natural ups and downs in Indian company earnings, which are now being exposed by global events and domestic challenges. Adding to this caution, Krishnan also predicts a 'deep correction' is coming for the global Artificial Intelligence (AI) trade, suggesting that the high hopes around AI stocks might soon face a reality check.

Editorial Team1 min
India's Market at a Crossroads: Valuations High, AI Correction Looms, Warns Spark CIO
Economy 7/15/2026

Social Security's 2027 COLA: Higher Benefits Expected, But Medicare Costs Loom Large

The latest projections for Social Security's 2027 Cost-of-Living Adjustment (COLA) are pointing to a roughly 3.6% to 3.8% increase, a boost for millions of Americans, yet this raise may still fall short of covering escalating Medicare expenses. Recent June inflation data, showing a cooler-than-expected 3.5% annual increase largely due to falling energy prices, has influenced these updated estimates. This means seniors could see their benefits grow, but a significant portion might be immediately absorbed by rising healthcare costs.

Editorial Team1 min
Social Security's 2027 COLA: Higher Benefits Expected, But Medicare Costs Loom Large
Economy 7/15/2026

Cooling Inflation and Robust Bank Earnings Ignite Wall Street Rally, But Oil Woes Loom

Wall Street kicked off the week with a surge as both the S&P 500 and Nasdaq Composite opened higher, riding high on fresh data showing a significant cooling in US inflation for June and a blockbuster round of bank earnings. The Consumer Price Index (CPI) annual rate eased to 3.5% – a welcome drop from May's 4.2% – driven largely by a sharp decline in gasoline prices. This softer-than-expected inflation print, coupled with record-setting profits from major lenders like JPMorgan Chase, has ignited hopes for a more favorable economic outlook.

Editorial Team1 min
Cooling Inflation and Robust Bank Earnings Ignite Wall Street Rally, But Oil Woes Loom
Economy 7/15/2026

Dangote Refinery Switches to Dollar Pricing, Fuel Depots See Sudden Price Hike

Nigeria's fuel market just got a jolt: the Dangote Petroleum Refinery, a major player, has abruptly switched to pricing its petrol, diesel, and aviation fuel in U.S. dollars, effectively ending naira-based transactions that began less than two years ago. This big shift, which took effect on July 13, 2026, has immediately sent ex-depot prices soaring by as much as N113 per litre for petrol, sparking worries about a new wave of pump price hikes across the country.

Editorial Team1 min
Dangote Refinery Switches to Dollar Pricing, Fuel Depots See Sudden Price Hike
Economy 7/15/2026

Oman's Green Shift: Vale and SQU Unearth Gold in Iron Ore Waste for Sustainable Future

In a significant leap towards sustainable industrialization, mining giant Vale and Oman's Sultan Qaboos University (SQU) have successfully wrapped up a two-year research initiative, unearthing groundbreaking uses for iron ore by-products in the construction sector. This collaboration confirms that 'ore sand' can be safely repurposed in everything from road construction to concrete, paving the way for Oman's first iron ore concentration plant at Sohar Port and Freezone to embrace a truly circular economy model from its inception. The findings, officially released on July 13, 2026, mark a pivotal moment for regional sustainable development and resource efficiency.

Editorial Team1 min
Oman's Green Shift: Vale and SQU Unearth Gold in Iron Ore Waste for Sustainable Future
Economy 7/15/2026

DP World Charts New Course: Fujairah Port to Skirt Volatile Strait of Hormuz

Dubai's port giant, DP World, is pushing ahead with plans for a major new port and container terminal in Fujairah on the UAE's east coast. This strategic move aims to create a vital alternative trade route, significantly reducing reliance on the Strait of Hormuz, a waterway recently rocked by severe disruptions from ongoing regional tensions. The urgency behind this project follows a drastic 90-95% drop in activity at DP World's flagship Jebel Ali Port after Iran effectively closed the Strait in response to recent US-Israeli actions.

Editorial Team1 min
DP World Charts New Course: Fujairah Port to Skirt Volatile Strait of Hormuz
Economy 7/14/2026

EU Unlocks Sweeping Air Travel Rights, Forcing Transparency and Boosting Passenger Protection

The European Union just gave its final stamp of approval to a massive overhaul of air passenger rights, promising clearer skies for millions of travelers across the bloc. On Monday, the Council of the European Union formally greenlit a package of reforms that will fundamentally reshape how airlines operate and how passengers are treated, especially during disruptions. These long-awaited changes, which already had the backing of the European Parliament, are set to kick in by mid-2027.

Editorial Team1 min
EU Unlocks Sweeping Air Travel Rights, Forcing Transparency and Boosting Passenger Protection
Economy 7/14/2026

Water Regulator Hits South East Water with £30.5M Penalty for Repeated Supply Failures

South East Water has been ordered to pay a hefty £30.5 million redress package by the water regulator Ofwat, after years of repeated supply failures and significant customer service issues. This landmark penalty follows three in-depth investigations that exposed widespread disruption and hardship for hundreds of thousands of homes and businesses across Kent and Sussex. The package aims to compensate affected customers and mandate critical improvements to the company's struggling infrastructure.

Editorial Team1 min
Water Regulator Hits South East Water with £30.5M Penalty for Repeated Supply Failures
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