News

Posted on May 20, 2024 by James Miller

Ahead of reporting its first-quarter results on Wednesday, Target announced that it will reduce prices on over 5,000 products, including milk, diapers, meat, and fresh produce.  The cuts follow previous reductions on items like frozen chicken breast and shredded cheese. Rick Gomez, Target’s Chief Officer of Food, Essentials, and Beauty, emphasized the company’s commitment to […]

Posted on May 20, 2024 by James Miller

Retail sales in the United States showed no change from March to April, defying economists’ expectations for growth. According to data released by the Commerce Department, this stagnation reflects the continued impact of inflation and high interest rates on consumer spending. April’s flat sales shifted from the 0.6% increase observed in March to a rise […]

Posted on May 17, 2024 by James Miller

On Thursday, the Biden administration proposed ending new federal coal leases in the Powder River Basin – the most prolific coal mining region in the U.S. This initiative is part of efforts to reduce greenhouse gas emissions from coal combustion, aligning with environmental and public health objectives. This proposal follows a 2022 court ruling criticizing […]

Posted on May 16, 2024 by James Miller

Gazprom, Russia’s state-owned energy giant, reported a $7 billion annual net loss, its first since 1999.  The loss was due to a sharp decline in European gas sales amidst sanctions and geopolitical tensions.  In 2022, Gazprom’s gas exports to Europe were 63.8 billion cubic meters (bcm), but this volume fell by 55.6% to 28.3 bcm […]

Posted on May 15, 2024 by James Miller

President Joe Biden announced substantial increases in U.S. tariffs on various Chinese imports, including electric vehicles, computer chips, and medical products. This move could potentially lead to a political clash with China during an election year. The new tariffs extend those imposed by former President Donald Trump and intensify others, quadrupling duties on electric vehicles […]

Posted on May 14, 2024 by James Miller

The gold spot price hit $2,359.97 on Monday, rising 2.5% from last week. Gold had been below $2,340 for more than two weeks, and this is the first time it has peaked since April 22. Experts tie this surge to geopolitical tensions in the Middle East, which initially increased gold’s status as a safe-haven investment. […]

Posted on May 13, 2024 by James Miller

According to the latest figures released by the Office for National Statistics, the UK economy marked a recovery in the first quarter of 2024, ending two-quarters of modest declines.  The economy expanded by 0.6%, surpassing the forecasts of a 0.4% increase and signaling the strongest growth since late 2021. The recent uplift was driven primarily […]

Posted on May 13, 2024 by James Miller

On Monday, Amazon declared a significant investment of 1.2 billion euros ($1.3 billion) in its French operations, creating more than 3,000 permanent jobs. This move is part of a broader announcement involving several companies at France’s annual “Choose France” event. The investment primarily targets expanding Amazon Web Services (AWS) cloud infrastructure in Paris and enhancing […]

Posted on May 10, 2024 by James Miller

The South Korean government pledged to protect Naver, the operator of the popular chat app Line, after Japanese regulators advised LY Corp. to reduce its reliance on the Korean tech giant.  LY Corp., a joint venture between Naver and Japan’s SoftBank, faced scrutiny following a major security breach at Naver’s cloud computing servers last year, […]

Posted on May 10, 2024 by James Miller

Chinese authorities have increased their oversight of companies seeking to go public, intensifying on-site inspections of even senior executives’ personal financial details.  As the China Securities Regulatory Commission (CSRC) states on its website, this heightened scrutiny aims to slow the pace of new capital market entries and bolster secondary markets. The regulatory body is planning […]