Bitcoin experienced a significant drop in price, falling to around $57,000 per unit after the U.S. Federal Reserve announced that it was not planning to cut interest rates. This news came after the release of minutes from the Fed’s June meeting that indicated a reluctance to lower rates until there is clear evidence of inflation
World
Hurricane Beryl has recently been classified as the strongest hurricane ever observed in July, shattering records as it leaves a trail of destruction in the Caribbean. This tropical cyclone has set numerous records that experts attribute to the effects of climate change. It developed at an unprecedented rate and much earlier in the year compared
Federal Reserve Chair Jerome Powell expressed satisfaction Tuesday with the progress on inflation over the past year but said he wants to see more before being confident enough to start cutting interest rates. Powell mentioned that they have made quite a bit of progress in bringing inflation back down to their target of 2%. The
EU regulators have recently accused Meta, the parent company of Facebook, of failing to comply with antitrust rules regarding its ad-supported social networking service. The Commission claims that Meta’s subscription model restricts users to either pay for an ad-free experience or consent to their data being used for personalized advertising, failing to offer a less
French voters are currently participating in the first round of a snap parliamentary election that could potentially see the far-right National Rally group emerge as the largest party in France’s National Assembly. This unexpected move by French President Emmanuel Macron comes after his Renaissance party faced defeat in the European Parliament elections by the National
In a recent snap presidential election in Iran, voter apathy has dominated the political scene. The low turnout of around 40% reflects a growing dissatisfaction among the Iranian population over economic hardships and social restrictions. Despite the efforts of the clerical establishment to encourage high voter participation, polling stations in Tehran and other cities were
France’s recent parliamentary election has caused some unrest among investors, leading to a rise in the country’s risk premium. While the market seems to be pricing in certain outcomes, there are still two scenarios that have not been fully factored in, which could have a significant impact on stocks in the wider European region, according
Shares of H&M took a nosedive, dropping more than 14% after the company reported second-quarter profits that fell short of analyst expectations. The operating profit for the period between March and May was 7.1 billion Swedish kronor, lower than the 7.37 billion Swedish kronor anticipated by analysts. This news caused the stock to trade down
The recent survey of Chinese enterprises in the U.S. conducted by the China General Chamber of Commerce (CGCC) revealed that despite growing concerns about U.S.-China relations and the overall business environment, a majority of companies remain optimistic about the market in the long term. This optimism is reflected in the fact that nearly 60% of
Chinese Premier Li Qiang recently spoke at the World Economic Forum’s “Summer Davos” meeting in Dalian, China. He defended his country’s technological development efforts while also criticizing attempts to restrict global cooperation. According to Li, China’s rapid growth in new industries stems from its unique comparative advantages, such as a large market, industrial network, labor
