A nasty summer surprise has dealt a significant blow to the UK economy, as official data revealed on Wednesday. UK inflation unexpectedly accelerated in July, stoking fresh fears about the cost of living and all but extinguishing hopes for another interest rate cut this year from the Bank of England.The…
The US economy is sending mixed signals. Growth has slowed, job creation has weakened, yet prices keep rising in stubborn ways. Consumers feel squeezed, investors are riding a stock market boom, and policymakers face a puzzle that does not fit the old playbook. What is happening is not the stagflation…
On Wednesday, government officials announced that ten South Korean petrochemical companies have reached an agreement to restructure their operations. This will involve significant reductions in their naphtha-cracking capacity, according to a Reuters report.The South Korean government is urging its petrochemical industry, which it considers to be in “crisis,” to accelerate restructuring…
The announcement from the White House on Monday was bold, hopeful, and seemingly unanimous: the next step toward peace would be a historic, face-to-face meeting between Russia’s Vladimir Putin and Ukraine’s Volodymyr Zelenskiy. For a fleeting moment, a path through the storm of war appeared. Then came the cold, coded,…
European gas prices have once again faced downward pressure since the start of August, with the benchmark price showing a notable decline.According to Commerzbank AG, the European gas market is likely to remain volatile for the time being. Towards the end of last week, the next Dutch TTF contract traded at…
Shares of Lululemon Athletica fell around 3% to $197.80 in afternoon trading on Tuesday after Wells Fargo reduced its price target on the stock to $205 from $225. The brokerage said the repeal of the US de minimis customs exemption could dent the athletic wear maker’s profitability and margins.The exemption…
Viking Therapeutics Inc (NASDAQ: VKTX) reported new clinical data for its oral obesity drug – sending shares sharply lower as investors balked at tolerability concerns and dropout rates. The Phase 2 trial showed promising weight loss results, but a 28% discontinuation rate in the first three months triggered fears about…
A brutal rotation out of big tech sent a shockwave from Wall Street across the Pacific, setting Asian markets up for a sluggish and anxious start to the day. The Nasdaq 100 suffered its sharpest drop since the tariff shocks of April, a clear sign that investor nerves are fraying…
In a significant development for weight management, the Food and Drug Administration (FDA) announced Wednesday its approval of the first-ever glucose monitoring system designed specifically for weight loss, developed by the startup Signos. This approval introduces a new tool for Americans seeking to manage their weight.Current weight loss treatments, such as…
A nasty summer surprise has dealt a significant blow to the UK economy, as official data revealed on Wednesday. UK inflation unexpectedly accelerated in July, stoking fresh fears about the cost of living and all but extinguishing hopes for another interest rate cut this year from the Bank of England.The…