Sunil SahilLordstown Motors – After declaring bankruptcy, the stock of the troubled manufacturer of electric trucks fell by more than 17%. In addition, Lordstown is suing Foxconn for a $170 million finance arrangement. Shares of Walgreens Boots Alliance fell 9.3% after the retail pharmacy chain revised its full-year earnings projection downward from its earlier forecast of … Read more
WASHINGTON – U.S. Secretary of the Treasury Janet Yellen and Indonesian Minister of Finance Sri Mulyani Indrawati signed the IDR 10.2 trillion ($698 million) Indonesia Infrastructure and Finance Compact – a five-year compact between the U.S. government’s Millennium Challenge Corporation (MCC) and the Government of Indonesia, with contributions of IDR 9.5 trillion ($649 million) from the … Read more
The most recent news from the economics and financial industries is brought to you in this weekly roundup. Top economic headlines include: US debt ceiling impasse brings country closer to default; Banking crisis prompts G7 to focus on financial system resilience; Rising debt issues in North Africa. Due to the debt ceiling impasse, the US … Read more
The inflation rate is on the fall after reaching all-time highs in June 2022, topping a 9% year-on-year increase. According to the most recent data from the United States Bureau of Labour Statistics, inflation in May declined by 0.9 percent to 4.0 percent, beating economists’ predictions of a 4.5 percent rise. As a result, the … Read more
Construction labour is one of the most in-demand vocations in the United States. According to the Bureau of Labour Statistics’ Occupational Employment and Wages report published in May of last year, the country has over one million construction employees. What exactly does this job entail, and how much do these employees make? What is the … Read more
In 2023, business finance companies in the United States will offer a variety of financial services to business owners. Banks, private equity firms, venture capitalists, and other financial institutions are among those represented. They help organisations manage cash flow and investments, ease mergers and acquisitions, and aid in the design and execution of company strategy. … Read more
While London may still be the world’s largest financial centre, there is no doubt that Wall Street, located on Manhattan’s southern tip, is the epicentre of American money. But it wasn’t always this way. The first bank and stock exchange in the United States were created in Philadelphia, PA, and for a while, that city, … Read more
TOKYO, Japan (AP) – Asian stocks fell largely on Tuesday, as some investors opted to wait and watch after U.S. markets were closed for a national holiday. Some investors were also dissatisfied after a meeting between Chinese President Xi Jinping and Secretary of State Antony Blinken produced no signs of progress on Taiwan, human rights, … Read more
When the Federal Open Market Committee (FOMC) met on June 13-14, the Fed decided to stop its aggressive approach of rising interest rates. Over the last 15 months, the US Federal Reserve has raised borrowing prices ten times in a row, raising interest rates from near zero to 5.00%-5.25%. The quick rise was part of … Read more
Investors claim that the brokerage firm failed to take adequate precautions. White Oak Commercial Finance Europe, a UK-based lending platform, has started court proceedings in London against Marsh, the commercial insurance broker for the failed company Greensill Capital. According to the Financial Times, White Oak received US$143 million in receivables from the now-insolvent supply chain … Read more
