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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
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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 6/28/2026

Social Security’s $30 trillion hole sparks tax debate

The clock is ticking for millions of American retirees: unless Congress acts quickly, Social Security is barreling toward an automatic 22% benefit cut for all recipients by late 2032. The dire warning comes straight from the 2026 Social Security Trustees Report, which confirmed the program's primary retirement fund faces a massive $30 trillion shortfall over the next 75 years. This isn't just a distant problem; it means current and future retirees could see an average monthly benefit slashed by about $500, fundamentally changing retirement for many.

Editorial Team1 min
Social Security’s $30 trillion hole sparks tax debate
Economy 6/28/2026

Millions drop Affordable Care Act coverage after subsidies expired and costs rise

Millions of Americans have lost their health insurance coverage through the Affordable Care Act (ACA) as enhanced federal subsidies, designed to make plans more affordable, expired at the end of 2025. New figures reveal approximately 3 million fewer people held ACA plans in February 2026 compared to the same time last year, a significant 13% drop from 22.1 million to 19.2 million enrollees. This dramatic decline is largely attributed to skyrocketing premiums that many could no longer afford after the extra financial help disappeared.

Editorial Team1 min
Millions drop Affordable Care Act coverage after subsidies expired and costs rise
Economy 6/28/2026

Warsh Makes Debut on the Global Stage With the Class of 2008

Kevin Warsh, newly installed as the Chairman of the Federal Reserve System just last month, is making his significant debut on the global stage this week, sharing a panel with three other architects of the 2008 financial crisis: ECB President Christine Lagarde, Bank of England Governor Andrew Bailey, and Bank of Canada Governor Tiff Macklem. This high-profile gathering comes as central bankers worldwide grapple with an unsettling echo of past turmoil, fueled by persistent inflation, escalating geopolitical tensions, and fresh vulnerabilities in the financial system.

Editorial Team1 min
Warsh Makes Debut on the Global Stage With the Class of 2008
Economy 6/28/2026

ECB’s Schnabel Sees Upside Inflation Risks Despite Peace Deal

European Central Bank Executive Board member Isabel Schnabel has thrown a curveball, warning on June 27 that inflation risks are still leaning upwards, even though a US-Iran peace deal has led to the phased reopening of the vital Strait of Hormuz. This unexpected caution comes just days after the US-Iran agreement, which many hoped would significantly ease global energy pressures and bring down prices. Schnabel, a known 'hawk' on the ECB's Governing Council, insists that optimism about the peace deal shouldn't make policymakers complacent.

Editorial Team1 min
ECB’s Schnabel Sees Upside Inflation Risks Despite Peace Deal
Economy 6/27/2026

Gold climbs above $4,000 as inflation print curbs rate-hike bets

Gold has smashed past the $4,000 an ounce mark, a significant psychological barrier, propelled by a surprising mix of stubbornly high US inflation data and a dramatic sell-off in the tech sector. While the latest inflation print for May tempered some aggressive expectations for future interest rate hikes, it still underscores persistent price pressures, making the precious metal an attractive hedge against rising costs. Simultaneously, a brutal week for tech stocks, fueled by doubts over the artificial intelligence (AI) trade, sent investors looking for safer places to park their money, finding refuge in gold.

Editorial Team1 min
Gold climbs above $4,000 as inflation print curbs rate-hike bets
Economy 6/27/2026

Most of Wall Street rises, but sinking AI stocks send it lower for the week

Wall Street just wrapped up a week that saw most of the U.S. stock market nudge higher, thanks largely to oil prices easing back to pre-'war with Iran' levels. But don't pop the champagne just yet – a significant slump in AI stocks dragged the overall market performance down for the week, painting a mixed picture for investors.

Editorial Team1 min
Most of Wall Street rises, but sinking AI stocks send it lower for the week
Economy 6/27/2026

Trump threatens 100% tariffs on Europe if countries impose tax on US digital services

In a fresh escalation of transatlantic trade tensions, US President Donald Trump has issued a stern warning, threatening to unleash 100 percent tariffs on European imports if any country moves forward with a Digital Services Tax (DST) on American technology giants. This aggressive stance, communicated via his social media platform Truth Social, signals a direct challenge to Europe's ongoing efforts to tax the digital economy and could disrupt existing trade agreements, impacting goods ranging from luxury items to everyday products.

Editorial Team1 min
Trump threatens 100% tariffs on Europe if countries impose tax on US digital services
Economy 6/26/2026

California Will Vote on a Billionaire Tax. Billionaires Aren’t Happy.

California is barreling towards a high-stakes November vote on a one-time 5% tax targeting its billionaires, after the measure officially qualified for the ballot and failed to be negotiated away by a June 25th deadline. This isn't just a political squabble; it's a direct clash over wealth redistribution that has the state's ultra-rich unleashing a coordinated, multi-pronged counter-attack, including two ballot measures designed to nullify the tax even if voters approve it. The battle lines are drawn, promising an unprecedented spending spree and a potentially seismic shift in state fiscal policy.

Editorial Team1 min
California Will Vote on a Billionaire Tax. Billionaires Aren’t Happy.
Economy 6/26/2026

China auto demand remains weak but recovery window is approaching - Morgan Stanley

China's massive auto market, a critical bellwether for global manufacturers, is navigating a challenging period of weak domestic demand, though a recovery is now on Morgan Stanley's radar, expected to emerge meaningfully by late summer. The second quarter of 2026 saw passenger vehicle wholesale volumes dip 3-5% year-over-year, an improvement from an 8% decline in the first quarter, yet consumer sentiment remains subdued, impacting overall sales. Government efforts, including renewed auto trade-in subsidies and broad consumption-boosting policies, are signaling a concerted push to reignite buyer interest.

Editorial Team1 min
China auto demand remains weak but recovery window is approaching - Morgan Stanley
Economy 6/26/2026

ASX set to edge up, Wall Street drifts higher; Apple dives after hiking prices - SMH.com.au

Apple shares took a significant tumble, diving over 6% on Thursday after the tech giant announced price hikes across its Mac and iPad lines, a direct consequence of surging memory and storage chip costs fueled by intense AI infrastructure demand. This downturn weighed heavily on the Nasdaq, which dipped 0.46%, contrasting sharply with a resilient Dow Jones Industrial Average that edged up 0.14%, while the broader S&P 500 remained largely flat. On the flip side, memory chip giant Micron Technology roared ahead, surging over 15% after reporting blockbuster earnings that obliterated Wall Street expectations, underscoring the diverging fortunes within the tech sector.

Editorial Team1 min
ASX set to edge up, Wall Street drifts higher; Apple dives after hiking prices - SMH.com.au
Economy 6/26/2026

Oil Is Crashing. Why Are Gas Prices Still So High?

Former President Donald Trump has ignited a fresh political firestorm, publicly accusing 'big oil companies' of price gouging and ordering the US Department of Justice to investigate why pump prices remain stubbornly high despite a sharp decline in crude oil costs. As of June 25, 2026, crude benchmarks like Brent and WTI have plummeted by roughly 40% from their wartime peaks, settling near pre-conflict levels of $70-$73 per barrel, yet Americans are still paying a national average of $3.91 per gallon for gasoline, a figure well above last year's rates.

Editorial Team1 min
Oil Is Crashing. Why Are Gas Prices Still So High?
Economy 6/26/2026

Exxon, Chevron investors cautious after oil news

Oil prices have plummeted to pre-conflict levels, sending shivers through Exxon Mobil and Chevron's investor base, after the US Treasury unexpectedly issued a sweeping General License X on June 22, 2026. This move effectively unlocked Iranian crude oil exports and, coupled with progress in US-Iran ceasefire talks, unwound the significant 'war premium' that had been driving energy stocks to record highs for much of the year. Brent crude, the global benchmark, tumbled over 3.5% immediately and continued its slide, wiping out a substantial portion of the previous gains for the oil giants.

Editorial Team1 min
Exxon, Chevron investors cautious after oil news
Economy 6/26/2026

Dollar retreats as US inflation data eases rate hike expectations

The US dollar just pulled back, snapping a three-day winning streak, after May's inflation data softened investor bets on further Federal Reserve interest rate hikes this year. The Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, largely met market expectations upon its release on June 25th, showing annual headline inflation at 4.1% and core inflation at 3.4%. This cooling effect prompted traders to slightly scale back their predictions for the Fed's monetary policy tightening.

Editorial Team1 min
Dollar retreats as US inflation data eases rate hike expectations
Economy 6/26/2026

Supreme Court ruling blocks thousands of lawsuits against maker of Roundup weedkiller

The US Supreme Court delivered a monumental victory to Bayer, the pharmaceutical and agricultural giant behind Roundup weedkiller, by blocking thousands of lawsuits alleging its product caused cancer due to inadequate warnings. In a 7-2 decision on June 25, 2026, the Court ruled in Monsanto Co. v. Durnell, asserting that federal pesticide law overrides state-level 'failure-to-warn' claims, a move expected to significantly curb Bayer's multi-billion-dollar legal exposure.

Editorial Team1 min
Supreme Court ruling blocks thousands of lawsuits against maker of Roundup weedkiller
Economy 6/25/2026

Engines and Elevators Lift German Deals Past $120 Billion

Germany's dealmaking scene is absolutely buzzing, blowing past $140 billion in announced transactions this year and setting the stage for one of its busiest periods in decades. This massive surge is fueled by several long-awaited mega-deals finally closing, including Volkswagen's substantial sale of its marine engine business, Everllence, to Bain Capital for around €7.4 billion ($8.4 billion), and Kone's colossal €29.4 billion takeover of TK Elevator.

Editorial Team1 min
Engines and Elevators Lift German Deals Past $120 Billion
Economy 6/25/2026

Dubai climbs to seventh globally as DIFC records third year of double-digit growth

Dubai has officially secured the seventh spot globally in the Global Financial Centres Index (GFCI) as of March 2026, marking its highest-ever ranking. This surge is fueled by the Dubai International Financial Centre (DIFC) achieving its third consecutive year of double-digit growth, welcoming 182 new regulated firms in 2025 and an impressive 775 new companies in Q1 2026 alone. This cements Dubai's position as a rapidly ascending global financial powerhouse, outperforming many established hubs.

Editorial Team1 min
Dubai climbs to seventh globally as DIFC records third year of double-digit growth
Economy 6/25/2026

Gold prices decline Rs 1,200, silver drops Rs 4,000

Gold and silver have plunged further in Indian markets, with gold prices tumbling by over Rs 5,800 per 10 grams and silver by more than Rs 15,500 per kilogram over the past two sessions, driven by a surging US dollar, hawkish US Federal Reserve signals, and a significant liquidity drain from global equity markets. This sharp downturn, extending to its lowest levels since November for gold and six months for silver, reflects a broad flight to the greenback as investors seek safer havens amidst a volatile financial landscape.

Editorial Team1 min
Gold prices decline Rs 1,200, silver drops Rs 4,000
Economy 6/25/2026

What happens if another financial crisis hits?

US banks just passed the Federal Reserve's rigorous 2026 annual stress tests with flying colours, proving they could absorb over $708 billion in hypothetical loan losses and still maintain strong capital levels through a severe economic downturn. This is a big win for financial stability, confirming the banking system's resilience even under scenarios like a sharp rise in unemployment and massive drops in asset prices.

Editorial Team1 min
What happens if another financial crisis hits?
Economy 6/25/2026

A Gold Confiscation Again? Why History Suggests It Could Happen

Central banks globally are in an unprecedented gold buying spree, snapping up the precious metal at nearly double the historical pace of the last decade, with an average of 1,000 tonnes accumulated annually over the past four years. This aggressive accumulation, highlighted by the World Gold Council's Q1 2026 report showing 244 tonnes purchased, is driven by a profound shift towards reserve diversification amidst escalating geopolitical instability, with many nations actively seeking alternatives to US dollar-denominated assets. The move signals a deep-seated desire among monetary authorities for financial sovereignty and a hedge against the growing risks of sanctions and counterparty exposure in a fragmented global economy.

Editorial Team1 min
A Gold Confiscation Again? Why History Suggests It Could Happen
Economy 6/25/2026

Cacau atinge máxima de 5 meses em Londres; café também sobe

London cocoa futures have skyrocketed to a five-month high, hitting £3,753 per metric ton this Wednesday, as severe El Niño fears threaten to decimate West Africa's crucial 2026/27 cocoa crop. This surge is also mirrored in New York cocoa prices, which touched a five-month peak of $5,040 per ton. Arabica coffee contracts are also feeling the heat, nearing a six-week high at $2.772 per pound amidst delayed harvests in Brazil and concerns over future weather patterns.

Editorial Team1 min
Cacau atinge máxima de 5 meses em Londres; café também sobe
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