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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
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Economy

1266 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 6/29/2026

Gold Dips as Mideast Tensions Cool, Oil Stabilizes

Gold prices are taking a significant hit, correcting approximately 25% from their January 2026 highs, as a fragile de-escalation in the Middle East has allowed crude oil prices to retreat to pre-war levels. This unexpected dip, bringing gold to around $4,150-$4,190 per ounce, defies the metal's traditional 'safe-haven' role amidst geopolitical unrest, signaling a complex interplay of a stronger US Dollar and the Federal Reserve's hawkish stance on interest rates.

Editorial Team1 min
Gold Dips as Mideast Tensions Cool, Oil Stabilizes
Economy 6/29/2026

Property market: Auction rates hit historic lows as wary buyers shun sales - Nine.com.au

Australia's property market is currently facing a tough reality: auction clearance rates have hit historic lows, a level not seen since the early days of the COVID-19 pandemic in April 2020. Major capital cities like Sydney and Melbourne are reporting clearance rates below 50% for the week ending June 29, 2026, with Cotality data showing a national preliminary rate of 49.2%, expected to drop further to around 40% once all results are in. This deep freeze in sales signals that wary buyers are shunning auctions, directly impacting market momentum.

Editorial Team1 min
Property market: Auction rates hit historic lows as wary buyers shun sales - Nine.com.au
Economy 6/29/2026

Cassidy Pushes $1.5 Trillion Social Security Rescue Plan

Senator Bill Cassidy, a Republican from Louisiana, is making a dramatic last-ditch effort to save Social Security, pushing a $1.5 trillion plan to prevent massive benefit cuts for millions of Americans by 2032. Facing the end of his Senate term in January 2027 after losing his primary, Cassidy's 'Big Idea' involves setting up a new investment fund to inject cash into the program without hiking payroll taxes on everyday workers.

Editorial Team1 min
Cassidy Pushes $1.5 Trillion Social Security Rescue Plan
Economy 6/29/2026

‘Indian H1-B holders are not...’: Immigration lawyer says waiting on green cards for years is pushing professionals towards UK

Indian professionals holding the coveted US H1-B visa are increasingly turning their gaze towards the United Kingdom, driven by agonizingly long green card queues and a rapidly shifting American immigration landscape. With the US Green Card backlog for Indian nationals now stretching to a fourteen-year wait for some categories and crucial US legislative proposals threatening further restrictions, the UK's Global Talent Visa offers a compelling, quicker path to permanent settlement. This isn't a mere preference; it's a strategic 'arithmetic' calculation by skilled engineers and researchers in their thirties, many with families established in the US, as noted by immigration lawyer Yash Dubal.

Editorial Team1 min
‘Indian H1-B holders are not...’: Immigration lawyer says waiting on green cards for years is pushing professionals towards UK
Economy 6/28/2026

Popular furniture company, house builder and 3 more fall into administration - The Mirror

A troubling wave of corporate collapses has swept across the UK, with prominent names like 150-year-old bed maker Airsprung, major housebuilder Devonshire Homes, and construction giant Ardmore Group among five companies recently falling into administration. This spate of insolvencies has resulted in significant job losses and stalled key projects, signaling deep-seated challenges within several crucial sectors of the British economy. The ongoing financial pressures underscore a difficult trading environment impacting businesses nationwide.

Editorial Team1 min
Popular furniture company, house builder and 3 more fall into administration - The Mirror
Economy 6/28/2026

Equity mutual funds fall up to 7% last week; international funds among worst hit

Global equity mutual funds just took a significant hit, falling up to 7% last week (June 22–June 27), with international funds bearing the brunt of the sell-off. Over 600 funds across the board landed in the red, signaling a broader market unease that saw investors pull back from riskier assets.

Editorial Team1 min
Equity mutual funds fall up to 7% last week; international funds among worst hit
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
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