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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

998 articles · sorted by newest first

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Latest in Economy

Latest in Economy
20 results
Economy 5/21/2026

Discount retail giant closes 350 U.S. stores , sparing only six states

Discount retail stalwart 99 Cents Only Stores has initiated a comprehensive liquidation of all its 371 stores across California, Texas, Arizona, and Nevada, ceasing operations after filing for Chapter 11 bankruptcy. This widespread closure marks the end for a chain that served communities for over four decades, leaving countless shoppers in its target low-to-middle-income demographics without an accessible option for essential goods and deeply discounted merchandise.

Editorial Team1 min
Discount retail giant closes 350 U.S. stores , sparing only six states
Economy 5/21/2026

Only 60 days to leave? The options for laid-off Indian H-1B workers in the US

Tens of thousands of H-1B visa holders, predominantly skilled Indian professionals, are currently navigating a precarious immigration landscape in the United States following widespread layoffs across major US tech firms like Meta, Microsoft, Google, and Oracle. These individuals face a stringent 60-day grace period to secure new employment with a sponsoring company, transfer their visa status, or otherwise depart the country. The rapid pace of workforce reductions has created an intensely competitive job market, leaving many scrambling to avoid an involuntary return to their home countries.

Editorial Team1 min
Only 60 days to leave? The options for laid-off Indian H-1B workers in the US
Economy 5/21/2026

New York pension fund closes fiscal year at record high

The New York State Common Retirement Fund (NYSCRF), under the stewardship of State Comptroller Thomas DiNapoli, has achieved a significant milestone, closing its fiscal year (FY) on March 31, 2023, at a record high valuation of $259.9 billion. This impressive performance, driven by a preliminary investment return of 10.8% for the year, substantially exceeded the fund's long-term expected rate of return of 5.9%. The robust gains underscore the effectiveness of the fund's diversified portfolio strategy across various asset classes.

Editorial Team1 min
New York pension fund closes fiscal year at record high
Economy 5/21/2026

UK transport company plunges into administration - in business for 54 years

Reays Coaches, a venerated family-run transport enterprise based in Cumbria, UK, has officially plunged into Administration after 54 years of service, confirming the "very sad news" of its immediate cessation of operations. This dramatic collapse means the loss of critical bus routes, private hire services, and school transport provisions across the region, directly impacting staff, commuters, and local education systems. The firm, a significant regional employer and operator of a diverse fleet, attributed its demise to an accumulation of insurmountable financial pressures.

Editorial Team1 min
UK transport company plunges into administration - in business for 54 years
Economy 5/21/2026

Jeff Bezos backs Mamdani's tax on luxury second homes, but says Ken Griffin isn't the villain

Jeff Bezos, the billionaire founder of Amazon, has unexpectedly endorsed New York City Council Member Zohran Mamdani's proposed "luxury second home tax." This legislative initiative specifically targets non-primary residences valued over $5 million, aiming to generate crucial revenue for public services, particularly enhanced rent-stabilization programs. Bezos's support, however, arrived with a notable caveat: he explicitly stated that hedge fund magnate Ken Griffin, widely recognized for his extensive high-value real estate portfolio, should not be depicted as a villain, despite often being a de facto symbol of the ultra-wealthy targeted by such progressive tax policies.

Editorial Team1 min
Jeff Bezos backs Mamdani's tax on luxury second homes, but says Ken Griffin isn't the villain
Economy 5/20/2026

Foreign selling in Asian equities rises as bond yields climb

Foreign investors accelerated their exodus from Asian equities throughout May, shedding billions as a pronounced "risk-off" sentiment gripped global markets. This sharp divestment stems primarily from mounting concerns over persistent, war-driven inflation, which elevates operational costs, and the concurrent surge in global bond yields, pushing borrowing costs higher for corporations across the region. This dynamic creates a challenging environment for corporate margins, making Asian stocks less attractive to international capital seeking safer, higher-yielding alternatives.

Editorial Team1 min
Foreign selling in Asian equities rises as bond yields climb
Economy 5/20/2026

OMC stocks rise up to 2% on BPCL's strong commentary post-Q4 results

India's Oil Marketing Companies (OMCs) — specifically Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corporation (IOC) — experienced a positive market bump, with stocks rising up to 2%. This surge followed BPCL's Q4 earnings call, where executives provided optimistic commentary, assuaging market fears by confirming the ample availability of crucial retail fuels like petrol and diesel, alongside robust crude oil supply chains. This reassurance from a major state-owned player signals a period of relative stability for the downstream sector, momentarily alleviating concerns about inventory and potential supply disruptions.

Editorial Team1 min
OMC stocks rise up to 2% on BPCL's strong commentary post-Q4 results
Economy 5/20/2026

EU agrees to implement US trade deal struck last summer

The European Union has officially agreed to implement a limited trade agreement with the United States, a deal initially struck in August 2020 under the Trump administration. Following over five hours of contentious discussions between Members of the European Parliament (MEPs) and EU member states, the agreement can now formally enter into force. This breakthrough follows previous delays in the ratification process, largely due to MEPs' protests against former President Donald Trump's broader threats of imposing higher tariffs on EU goods and the diplomatic strain caused by his controversial "Greenland threats." The implemented "mini-deal" specifically targets the removal of import duties on several key product categories, most notably EU tariffs on U.S. live and frozen lobsters, in exchange for U.S. tariff reductions on certain European goods like prepared meals and glassware.

Editorial Team1 min
EU agrees to implement US trade deal struck last summer
Economy 5/20/2026

SBI Apprentice Notification 2026

The State Bank of India (SBI) has reportedly issued a notification for apprentice vacancies, specifically targeting degree-holding candidates across India. While the article title anomalously specifies "2026," this is highly likely a misprint, with the actual recruitment pertaining to the current or immediate future hiring cycle (e.g., 2023-24 or 2024-25). This initiative provides a critical pathway for recent graduates to gain practical, on-the-job experience within the highly competitive Indian banking sector. The selection process typically involves an online written examination and a local language proficiency test, culminating in a one-year practical training stint across various SBI branches.

Editorial Team1 min
SBI Apprentice Notification 2026
Economy 5/20/2026

CUK Announces Austerity Measures, Online Classes, WFH On Fridays

The Central University of Kashmir (CUK) has proactively announced a suite of austerity measures slated to commence from May 22, 2026. These institutional directives include mandating online classes and Work From Home (WFH) for faculty and staff on Fridays, alongside the implementation of "Green Saturdays," which will entail further reduced on-campus activity or remote work to minimize operational footprints. According to official orders, these shifts are framed as responses to the "prevailing situation" and specifically aim to optimize resource utilization, signaling a strategic institutional pivot towards enhanced fiscal prudence and cost-saving in the long term.

Editorial Team1 min
CUK Announces Austerity Measures, Online Classes, WFH On Fridays
Economy 5/20/2026

Gold, silver prices fall over 1 pc amid rising US inflation concerns

Gold and silver prices plummeted over 1% on Wednesday, with the Multi Commodity Exchange (MCX) in India reflecting this sharp decline. This dip is primarily attributed to mounting apprehensions regarding persistent US inflation, which is fueling expectations of potentially higher US interest rates. The prospect of the Federal Reserve maintaining a hawkish stance to curb price increases has created significant headwinds for non-yielding assets like precious metals.

Editorial Team1 min
Gold, silver prices fall over 1 pc amid rising US inflation concerns
Economy 5/20/2026

UN cuts global growth forecast, blaming Middle East crisis

The United Nations (UN) has significantly pared back its global economic growth projections for 2026 and 2027, pinpointing the escalating Middle East crisis as the predominant destabilizing force. UN economists, in their latest update, now anticipate global Gross Domestic Product (GDP) to expand by 2.5 percent in 2026 and 2.8 percent in 2027. This downward revision from previous estimates highlights the immediate and tangible economic ramifications emanating from prolonged geopolitical tensions, especially those directly impacting critical global trade arteries and energy markets. The report explicitly links persistent instability across the Middle East, including the ongoing Israel-Hamas conflict and its broader regional spillovers, to a direct impediment on global economic momentum.

Editorial Team1 min
UN cuts global growth forecast, blaming Middle East crisis
Economy 5/20/2026

Pharmacy strike today: Why chemists are protesting and what’s still open

A nationwide strike by chemists and pharmacists in India, orchestrated by the All India Organisation of Chemists and Druggists (AIOCD), has intensified the simmering conflict between traditional pharmaceutical retail and the rapidly expanding e-pharmacy sector. While participation has been notably mixed, leading to varied disruptions across states like Uttar Pradesh, Maharashtra, and Delhi, the core grievance remains the existential threat posed by online drug aggregators. Protesters cite concerns over perceived predatory pricing models that undercut traditional businesses, the potential for widespread prescription misuse due to lax verification, and the feared dilution of stringent drug quality control standards under the current, often ambiguous, regulatory framework governing digital platforms.

Editorial Team1 min
Pharmacy strike today: Why chemists are protesting and what’s still open
Economy 5/20/2026

UK CPI inflation grows less than expected in April, PPI surges on energy bump

The UK's headline Consumer Price Index (CPI) inflation rate decreased to 2.3% in April, a notable drop from March's 3.2%, bringing it closer to the Bank of England's 2% target but still exceeding market expectations for a larger deceleration. Simultaneously, the Producer Price Index (PPI) saw a significant surge, with input inflation rising by 5.5% year-on-year, primarily driven by a sharp rebound in energy prices, including crude oil and gas. This divergence presents a complex picture for the Monetary Policy Committee (MPC) as disinflationary trends at the consumer level are challenged by renewed cost pressures upstream.

Editorial Team1 min
UK CPI inflation grows less than expected in April, PPI surges on energy bump
Economy 5/20/2026

How to travel this summer without paying more for the crisis in the Middle East

The escalating geopolitical tensions in the Middle East are materially impacting the upcoming European summer travel season, translating into a turbulent outlook for holidaymakers. Airlines are grappling with significant operational headwinds, including mandated rerouting of flights to circumvent conflict zones, leading to longer flight durations, increased fuel burn, and heightened demand-side pricing pressure on ticket fares. This dynamic, characterized by potential last-minute cancellations and schedule adjustments, is directly affecting consumer confidence and discretionary spending. Brussels, representing the European Union, is keenly observing these developments, given the bloc's reliance on stable and affordable air travel for its tourism economy and citizens' mobility, but immediate market interventions to stabilize prices appear limited.

Editorial Team1 min
How to travel this summer without paying more for the crisis in the Middle East
Economy 5/20/2026

WTI Holds Bullish Structure Near Key Resistance Ahead of FOMC Minutes

West Texas Intermediate (WTI) crude oil futures are currently maintaining a robust "bullish structure" as they approach a pivotal "key resistance" level, signaling persistent demand despite broader economic uncertainties. This price action is occurring on the cusp of the highly anticipated release of the "FOMC Minutes," which are expected to shed further light on the Federal Reserve's monetary policy outlook.

Editorial Team1 min
WTI Holds Bullish Structure Near Key Resistance Ahead of FOMC Minutes
Economy 5/20/2026

Looking at the impact of GLP-1s on the fitness industry

The meteoric rise of GLP-1 weight loss drugs like Ozempic and Wegovy is fundamentally reshaping the fitness industry. These medications, which regulate appetite and blood sugar, are leading to unprecedented rates of weight reduction, compelling gyms, personal trainers, and supplement companies to rapidly pivot their strategies. While initially perceived as a threat to traditional fitness models focused solely on fat loss, the shift is more nuanced, highlighting the critical need for body recomposition and overall wellness.

Editorial Team1 min
Looking at the impact of GLP-1s on the fitness industry
Economy 5/20/2026

New Jello-O Line Doesn't Get Its Vibrant Colors from Artificial Dyes

Jell-O, a staple brand under the food giant Kraft Heinz, is rolling out a new product line that ditches synthetic colors and artificial sweeteners. This strategic pivot aims to align with evolving consumer preferences, offering an alternative that prioritizes natural ingredients for its vibrant colors and sweetness profiles.

Editorial Team1 min
New Jello-O Line Doesn't Get Its Vibrant Colors from Artificial Dyes
Economy 5/20/2026

Bracing for an energy emergency

In May 2022, Prime Minister Narendra Modi urged Indian citizens to adopt drastic austerity measures amidst a looming energy emergency. The directive included working from home, using public transport, reducing cooking oil and fertilizer consumption, and shunning imported goods, gold, and foreign travel. This appeal was a direct response to a severe power crisis driven by extreme heatwaves and critical coal shortages across India, leading to widespread electricity cuts.

Editorial Team1 min
Bracing for an energy emergency
Economy 5/20/2026

Trump discloses thousands of stock trades, some in companies directly influenced by his policies - AP News

Former President Donald Trump's latest financial disclosure has unveiled thousands of stock trades, revealing investments in companies that were, at times, directly influenced by Presidential policies during his term. This has immediately reignited intense scrutiny over potential conflict of interest and ethical boundaries, with prominent figures like Jim Cramer and various news outlets vocally questioning the implications. While Trump's family publicly asserts that he remained disengaged from these financial dealings, the sheer scope and nature of the disclosed transactions are provoking significant ethical and legal queries.

Editorial Team1 min
Trump discloses thousands of stock trades, some in companies directly influenced by his policies - AP News
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