Bitcoin (BTC) is off to a shaky start in October, a month known for its historically strong performance. On Thursday, BTC briefly dipped below $60,000 before recovering slightly, leading to the liquidation of over $144 million in bullish bets. The cryptocurrency is now trading just over $61,300, showing little change…
The European Commission on Friday announced that it had garnered sufficient backing in a vote among EU members to implement tariffs as high as 45% on imports of electric vehicles manufactured in China, marking the bloc’s most significant trade case and provoking the possibility of retaliation from Beijing. The Commission,…
In a promising sign for Brazil’s economy, the S&P Global Brazil Services Purchasing Managers’ Index (PMI) surged to 55.8 in September, up from 54.2 in August. This increase marks the best quarterly performance since the second quarter of 2022 and reflects a robust recovery in business activity following a temporary…
Unpredictable weather conditions and rising geopolitical tensions have introduced significant uncertainties into global agricultural markets, affecting the prices of essential staples such as wheat, rice, and sugar. As these commodities experience wild price swings, consumers are likely to face higher grocery bills, particularly due to rising wheat and sugar prices.…
In a landmark move for Colombia’s financial sector, Banco Caja Social has announced its intention to acquire a 51% stake in Banco W. This significant transaction, which has been reported to the Superintendencia Financiera de Colombia, involves three organizations affiliated with Fundación Grupo Social and is poised to enhance the…
The upcoming September jobs report is anticipated to provide further evidence of a labor market that has cooled in 2024. However, the slowdown is unlikely to be severe enough to prompt a significant interest rate cut from the Federal Reserve in November. Scheduled for release by the Bureau of Labor…
With the holiday season fast approaching, major retailers in the US are preparing for the busiest shopping period of the year. However, despite the usual ramp-up in hiring, there’s a noticeable pullback in the number of seasonal workers being taken on for in-store assistance and online order fulfillment compared to…
The Reserve Bank of India (RBI) is anticipated to keep the repo rate unchanged at 6.5% in its upcoming October 2024 meeting, despite the recent interest rate cut by the US Federal Reserve. The Fed reduced its policy rate by 50 basis points (bps), bringing it down to 4.75-5% for…
Global oil markets are on edge as Goldman Sachs cautions that crude prices could skyrocket by $20 per barrel if Iranian oil production suffers from potential Israeli retaliation following heightened regional tensions. US crude futures surged by 5% on Thursday, with continued upward momentum on Friday, driven by concerns that…