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

1266 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 7/20/2026

Powerball Mania Hits UK: World's Biggest Jackpot Game Launches This Week

Get ready, Britain, because the world's biggest jackpot game, Powerball, is officially landing on UK shores this week. Starting Tuesday, July 21st, players can grab a £4 ticket for a chance at uncapped, potentially billion-pound jackpots, with the first historic draw scheduled for Thursday, July 23rd. This move by operator Allwyn marks the first time Powerball tickets will be sold outside the United States, creating a shared jackpot pool with US players and shaking up the UK's gambling landscape.

Editorial Team1 min
Powerball Mania Hits UK: World's Biggest Jackpot Game Launches This Week
Economy 7/20/2026

Middle East Turmoil Fuels Oil Surge, Gold Slips as Fed Nears Rate Hike Amid Inflation Fears

Global markets are in a tight spot today as gold prices dip while oil surges, fueled by intensifying tensions in the Middle East. With Brent crude oil leaping past $90 a barrel, worries about rising inflation are back, pushing U.S. Federal Reserve officials to openly consider more interest rate hikes. This mix of geopolitical conflict and economic uncertainty is making investors cautious worldwide.

Editorial Team1 min
Middle East Turmoil Fuels Oil Surge, Gold Slips as Fed Nears Rate Hike Amid Inflation Fears
Economy 7/20/2026

EU Softens Carbon Market Rules, Risks Green Steel Ambitions with Billions More CO2

The European Commission has just unveiled controversial changes to its landmark Emissions Trading System (EU ETS) that could allow industries to emit an estimated 2.4 billion additional tonnes of CO2 over time, effectively extending the lifespan of fossil pollution in key sectors by a decade. This unexpected slowdown is raising alarms among climate advocates and threatening billions in investments already made by pioneering companies in green technologies like hydrogen-based steel.

Editorial Team1 min
EU Softens Carbon Market Rules, Risks Green Steel Ambitions with Billions More CO2
Economy 7/20/2026

Boeing Bets Big on 44,000 New Planes by 2045 Despite Current Turbulence

Boeing just dropped its latest Commercial Market Outlook (CMO) for 2026-2045, predicting a whopping demand for 43,625 new aircraft by 2045, even with today's messy global situation. The aerospace giant believes air travel will double and the worldwide commercial fleet will grow by nearly 80% to over 50,000 planes in the next two decades, despite current problems like the Middle East conflict and high jet fuel prices temporarily cutting passenger growth by half this year. This outlook, shared right before the Farnborough International Airshow, also pegs the aviation services market at a massive $4.9 trillion.

Editorial Team1 min
Boeing Bets Big on 44,000 New Planes by 2045 Despite Current Turbulence
Economy 7/20/2026

AI Trade Reversal Jolts Hedge Funds, Wiping Out Gains Amid Tech Volatility

Hedge funds have taken a significant hit, recording their weakest performance in nearly a year, as the highly popular artificial intelligence (AI) 'crowded trade' dramatically reversed course since late June 2026. Both systematic, or 'quant,' funds and traditional stock-picking managers were caught off guard by the sharp sell-off in AI-linked stocks, erasing a substantial portion of their earlier year gains. Systematic funds, which use algorithms to follow market trends, saw roughly a quarter of their year-to-date returns vanish, dropping from 14.4% to 10.8% by early July.

Editorial Team1 min
AI Trade Reversal Jolts Hedge Funds, Wiping Out Gains Amid Tech Volatility
Economy 7/20/2026

Patients Caught in Crossfire: Insurers Siphon Drug Aid, Leaving Soaring Bills

Patients grappling with chronic illnesses are facing a renewed financial squeeze as many health insurers continue to deploy 'copay accumulator programs' that effectively seize drug manufacturers' financial aid, leaving patients with unexpected and often insurmountable bills. Despite a recent court ruling challenging these practices, federal enforcement remains stalled, forcing vulnerable individuals to choose between vital medication and financial stability. This contentious practice, where patient assistance doesn't count towards deductibles, is quietly widespread, catching many off guard.

Editorial Team1 min
Patients Caught in Crossfire: Insurers Siphon Drug Aid, Leaving Soaring Bills
Economy 7/20/2026

NYC's $2.6 Billion Welfare Surge Sparks Tax Exodus Fears Under New Socialist Mayor

New York City shelled out a staggering $2.6 billion in direct cash assistance to nearly 865,000 residents in 2025, marking a three-decade high in welfare spending. This unprecedented outlay comes as the city grapples with a contentious fiscal landscape and an ongoing exodus of high-net-worth individuals, a debate intensified by the election of democratic socialist Mayor Zohran Mamdani, who took office in early 2026 on a platform advocating for higher taxes on the wealthy.

Editorial Team1 min
NYC's $2.6 Billion Welfare Surge Sparks Tax Exodus Fears Under New Socialist Mayor
Economy 7/19/2026

Adani Freed: US Drops Bribery, Fraud Charges After Intense Legal Battle

Billionaire Gautam Adani is now free from US criminal prosecution after the US Justice Department dropped serious bribery and fraud charges against him in May 2026. This major reversal came after an intense, 10-week defense campaign that saw Adani's legal team submit nearly 600 pages of arguments, ultimately convincing prosecutors to abandon the high-profile case. Adani and his nephew, Sagar Adani, did, however, settle parallel civil charges with the Securities and Exchange Commission (SEC) for $18 million without admitting or denying wrongdoing.

Editorial Team1 min
Adani Freed: US Drops Bribery, Fraud Charges After Intense Legal Battle
Economy 7/19/2026

Afghanistan's Trade Takes Sharp Turn: Pakistan's Loss, Iran's Gain in Key Transit Routes

Afghanistan's transit trade through Pakistan has crashed by a massive 93%, plummeting from $5 billion in 2021 to just $367 million in the past fiscal year (FY26). This dramatic drop comes as Kabul deliberately shifts its trade routes towards Iran and Central Asian nations, fundamentally reshaping regional commerce and geopolitical dynamics. The move marks one of the sharpest declines in recent history, reducing container traffic from nearly 89,000 to just 11,592.

Editorial Team1 min
Afghanistan's Trade Takes Sharp Turn: Pakistan's Loss, Iran's Gain in Key Transit Routes
Economy 7/19/2026

Australia's Fuel Tax Break Slows BHP's Green Shift, Investors Warned of Rising Costs

Investors in mining giant BHP have received a stark warning: Australia's federal government's fuel tax credit scheme is actively slowing the company's efforts to cut carbon emissions in its Australian operations. The Australian Centre for Corporate Responsibility (ACCR) circulated a briefing document, stating that this tax break makes diesel so cheap it removes a major reason for BHP to switch to cleaner electric vehicles for its massive truck and rail fleets. This comes after leaked documents from May 2026 revealed BHP had already stalled or scrapped several key climate projects, despite publicly committing to ambitious environmental goals.

Editorial Team1 min
Australia's Fuel Tax Break Slows BHP's Green Shift, Investors Warned of Rising Costs
Economy 7/19/2026

Iran War Fuels Mortgage Spike: Rates Hit Highest Level Since Conflict Began

Mortgage rates in the US have surged to their highest levels since the start of the Iran War in early 2026, with the benchmark 30-year fixed mortgage now averaging around 6.55% as of mid-July. This sharp rise is directly linked to the ongoing conflict in the Middle East, which has severely disrupted global energy markets and sent oil prices climbing, exacerbating inflationary pressures across economies worldwide.

Editorial Team1 min
Iran War Fuels Mortgage Spike: Rates Hit Highest Level Since Conflict Began
Economy 7/19/2026

Chevron Eyes Strong Demand as Global Oil Inventories Hit Decades-Low Amid Market Shifts

Chevron is confidently charting a course for robust energy demand ahead, a bullish stance that comes as global oil inventories have plunged to multi-decade lows. This dramatic reduction in stored oil is creating a 'structural floor' under crude prices, essentially setting a minimum price level that makes Chevron's stock a compelling buy for investors. The company's optimistic outlook is backed by record production and strategic investments, positioning it strongly in an evolving global energy landscape.

Editorial Team1 min
Chevron Eyes Strong Demand as Global Oil Inventories Hit Decades-Low Amid Market Shifts
Economy 7/18/2026

Argentina's $2.7 Billion Urea Giant: Pampa Energia Unleashes Shale Power on Atlantic Coast

Pampa Energia SA, a major energy company, just approved a massive $2.7 billion plan to build a new factory that makes urea fertilizer on Argentina's Atlantic coast. This is a really big deal because it's the first time Argentina will get a new fertilizer plant like this in about 25 years, marking a huge step for the country's industry and its vast shale gas reserves. The project aims to use Argentina's own natural gas to produce essential fertilizer, reducing its reliance on imports and boosting the local economy.

Editorial Team1 min
Argentina's $2.7 Billion Urea Giant: Pampa Energia Unleashes Shale Power on Atlantic Coast
Economy 7/18/2026

Indian Banks Turbocharge Foreign Currency Deposits as RBI Absorbs Hedging Costs

Indian banks are currently offering exceptionally high interest rates on Foreign Currency Non-Resident (Bank), or FCNR(B), deposits, with some dollar rates soaring past 7.00% annually. This surge comes after the Indian government decided to completely cover the 'hedging cost' on these foreign currency deposits until September 30, 2026, making them significantly more attractive for Non-Resident Indians (NRIs) looking to save in their home currencies without rupee risk. It's a limited-time opportunity that has seen banks like HDFC, ICICI, and smaller finance banks quickly revise their offerings, making FCNR(B) a hot topic for global Indians.

Editorial Team1 min
Indian Banks Turbocharge Foreign Currency Deposits as RBI Absorbs Hedging Costs
Economy 7/18/2026

South Africa's Entrepreneurs Sound Early Alarm on Economy Amid Rising Costs, Policy Fog

South African entrepreneurs are raising urgent red flags about the nation's economic health, experiencing severe pressures from cash flow shortages, surging operational costs, and persistent policy uncertainty long before these issues fully register in official data. Wealth manager Citadel highlights that these small and medium business owners are the true frontline indicators, feeling the squeeze of a fragile economy directly and immediately. This early warning contrasts with modest official GDP growth figures that, while positive, mask deeper underlying fragilities.

Editorial Team1 min
South Africa's Entrepreneurs Sound Early Alarm on Economy Amid Rising Costs, Policy Fog
Economy 7/17/2026

AI Trade Reverses: Global Stocks Plummet as Investors Rethink Tech Valuations

Global stock markets are facing a sharp downturn today, with tech and semiconductor shares leading the plunge as the once-unstoppable 'AI trade' goes into reverse. Major indices like the S&P 500 and Nasdaq Composite are significantly down, impacting markets across Asia and Europe, wiping out an estimated $1.3 trillion in global technology stock value. This sudden investor pullback signals growing worries about the sky-high valuations of companies deeply tied to artificial intelligence.

Editorial Team1 min
AI Trade Reverses: Global Stocks Plummet as Investors Rethink Tech Valuations
Economy 7/17/2026

Telstra Boss Declares Outages 'Reality' Amidst Service Failures, Coles Deal Collapse, and Soaring Oil Prices

Australia's telecom reliability is under the spotlight after Telstra CEO Vicki Brady admitted that network outages are an unavoidable 'reality' in today's complex, fast-evolving tech landscape. Her candid remarks came during a Senate inquiry following a major national outage on July 8, 2026, which crippled mobile services, disrupted train networks, and tragically impacted some emergency Triple Zero calls across the country. This candid admission underscores growing public concern over critical infrastructure resilience.

Editorial Team1 min
Telstra Boss Declares Outages 'Reality' Amidst Service Failures, Coles Deal Collapse, and Soaring Oil Prices
Economy 7/17/2026

Hong Kong's Tourism Roars Back: Mainland Influx Fuels H1 Growth Amidst Short-Haul Headwinds

Hong Kong's vital tourism industry is witnessing a robust comeback, welcoming an impressive 26.71 million visitors in the first half of 2026, marking a significant 13% increase compared to last year. This surge is primarily powered by a strong influx of travelers from Mainland China, who accounted for 20.56 million of these arrivals, up 16% year-on-year, solidifying the city's position as a top global destination.

Editorial Team1 min
Hong Kong's Tourism Roars Back: Mainland Influx Fuels H1 Growth Amidst Short-Haul Headwinds
Economy 7/17/2026

Honda Hits the Brakes on U.S. EV Future, Pivoting Hard to Hybrids

Honda is officially pulling the plug on its only mass-market Battery Electric Vehicle (BEV) in the U.S., the Honda Prologue, ceasing production later this year and ending sales after the 2026 model year. This marks a significant strategic pivot for the Japanese automaker, as it shifts its focus heavily towards Hybrid Vehicles in response to weakening consumer demand for pure Electric Vehicles (EVs) in the American market. The move comes after Prologue deliveries plummeted 40%, signaling a broader reevaluation of its electrification strategy.

Editorial Team1 min
Honda Hits the Brakes on U.S. EV Future, Pivoting Hard to Hybrids
Economy 7/17/2026

SoftBank Plunges as AI Sell-Off Rattles Global Chip Markets

SoftBank Group's shares plummeted approximately 9% on Friday, echoing a significant downturn across Japanese chip stocks as a widespread AI sell-off continued to ripple through global markets. This steep decline followed renewed jitters on Wall Street concerning the soaring valuations of artificial intelligence-linked companies and the long-term profitability of massive AI infrastructure investments. The broader market reaction saw Japan's Nikkei 225 index plunge into correction territory, dropping over 4% on the day.

Editorial Team1 min
SoftBank Plunges as AI Sell-Off Rattles Global Chip Markets
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