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Sun, Jun 28, 2026 11:23 AM All times are UTC

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China’s renminbi will not threaten the dollar’s reserve currency status

Aug 11, 2015 20:38 pm UTC| Commentary

In a surprise move last night, the Peoples Bank of China (PBoC) announced a one-time 1.9% devaluation of the renminbi (RMB) - the biggest daily change since it moved a managed float a decade ago. The PBoCs move was...

China devalues yuan by the most in two decades

Aug 11, 2015 17:44 pm UTC| Commentary

Chinas central bank (PboC) lowered (devalued) the midpoint of its currency band by 1.9 percent in an aggressive step to seemingly bolster its economy and markets. Is this a sign that China is in a hard landing and does it...

Russia's recession deepens, gradual improvement likely

Aug 11, 2015 17:36 pm UTC| Commentary

Russias recession deepened in Q2, in line with the view and the consensus. Growth decelerated to -4.6% y/y from -2.2% in Q1, implying a q/q decline of -2.5% in Q2, almost double the -1.3% q/q decline in Q1 (although this...

China rattles markets with currency devaluation

Aug 11, 2015 16:17 pm UTC| Commentary

In another desperate move to boost a flagging economy, China devalued its currency by 2 percent overnight. The Canadian dollar nose-dived on the news following what had been a week-long recovery. The US dollar strengthened...

US retail sales expected to begin the summer on a high note

Aug 11, 2015 16:06 pm UTC| Commentary

Providing an early glimpse at summer-quarter consumer spending activity, the Census Bureaus Advance Report on Retail and Food Services Sales in July will be the marquee statistical event of the week. Increased spending...

US Q2 GDP tracking 2.9% after June wholesale inventories

Aug 11, 2015 15:57 pm UTC| Commentary

Wholesale inventories grew 0.9% m/m in June, coming in above our (0.4%) and consensus expectations (0.4%). Part of the boost to June wholesale inventory growth was due to a downward revision to May data. Wholesale...

Mexico IP: Stabilizing on better domestic components

Aug 11, 2015 15:22 pm UTC| Commentary

Mexicos industrial production increased 0.2% m/m sa in June as a result of a strong recovery in mining (1.1%) and a modest increase in construction (0.4%), partially offset by very soft growth in manufacturing (0.1%). In...

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Economy

World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures

The World Bank has approved $1.1 billion in emergency financing for Bangladesh to help the country cope with the economic impact of rising food, fuel, and fertilizer prices driven by the ongoing conflict in the Middle...

Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms

U.S. President Donald Trump announced on Friday that the United States will impose a 100% tariff on imports from any country that enforces digital services taxes (DSTs) on American technology companies, significantly...

US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated

The U.S. dollar edged lower on Friday, extending its decline for a second consecutive session after a six-day winning streak pushed the greenback to its strongest level since May 2025. Despite the modest pullback, the...

Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen

Gold prices rebounded more than 1% on Friday but still finished the week in negative territory, as renewed expectations of Federal Reserve interest rate hikes and a stronger U.S. dollar continued to pressure the precious...

Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts

Wall Street closed slightly lower on Friday, capping a difficult week for U.S. equities as technology stocks led the decline. With geopolitical tensions easing following diplomatic progress in the Middle East and oil...

Politics

Ukraine Strikes Russian Titan-Barrikady Plant With Long-Range FP-5 Flamingo Missile

Ukraine said it carried out a long-range missile strike on a major Russian military production facility in the Volgograd region overnight, marking another escalation in Kyivs campaign to target defense infrastructure deep...

Javier Milei Cabinet Chief Manuel Adorni Resigns Amid Spending Scandal Investigation

Argentine President Javier Milei has suffered a political setback after Cabinet Chief Manuel Adorni resigned following mounting scrutiny over his finances and personal spending, triggering fresh pressure on the government...

Australia Plans Higher Fines for Social Media Firms Failing to Block Underage Users

Australia is moving to strengthen its landmark online safety law by proposing significantly tougher penalties for social media companies that fail to prevent children under 16 from accessing their platforms. The planned...

US Strikes Iran Again After Strait of Hormuz Tanker Attack Escalates Ceasefire Tensions

The United States launched fresh military strikes against Iran after a Panama-flagged oil tanker was attacked in the Strait of Hormuz, marking the most serious escalation since Washington and Tehran signed an interim peace...

Maria Corina Machado’s Return to Venezuela Faces U.S. Hesitation After Deadly Earthquakes

Venezuelan opposition leader Maria Corina Machados renewed appeal for U.S. assistance to return to Venezuela following the countrys devastating earthquakes has reportedly caused frustration among senior officials in...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Italy Investigates Microsoft Over Microsoft 365 AI Subscription Price Hike

Italys antitrust authority has launched an investigation into Microsoft over allegations of unfair commercial practices tied to the pricing changes for its Microsoft 365 subscription service. The probe focuses on whether...

US Seizes Nearly 400 Illegal World Cup Streaming Domains in Global Anti-Piracy Crackdown

U.S. authorities have seized nearly 400 internet domains that were allegedly used to illegally stream FIFA World Cup matches, marking one of the largest anti-piracy enforcement actions tied to the global soccer tournament....

SpaceX, Charter Communications Explore Mobile Partnership to Expand Starlink Wireless Service

SpaceX and Charter Communications are reportedly in executive-level discussions about forming a strategic partnership that could accelerate the expansion of consumer mobile services across the United States. According to a...

OpenAI IPO Delay Weighs on SoftBank Shares as AI Valuation Concerns Grow

SoftBank Group (TYO:9984) shares tumbled sharply on Friday after a report suggested that OpenAI is considering postponing its highly anticipated initial public offering (IPO), delaying what many investors had expected to...

Apple Supplier Stocks Slide as Samsung, SK Hynix Lead Selloff After Apple Price Hikes

Apples major Asian suppliers came under heavy selling pressure on Friday after the iPhone maker announced significant price increases for its MacBook and iPad lineup, fueling concerns that rising semiconductor costs are...