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Philippines trade deficit widens in July as exports drop on sluggish global recovery

Sep 09, 2016 10:23 am UTC| Commentary Economy

Philippines trade deficit widened during the month of July as exports tumbled against a backdrop of sluggish global economic recovery. The decline in exports was due to the decrease in demand from traditional markets such...

Higher Swiss jobless rate poses concern for SNB; overvalued franc deepens the cause

Sep 09, 2016 10:06 am UTC| Commentary Economy Central Banks

The jobless rate in Switzerland rose for the first time since May, during the month of August, shrugging expectations for an unchanged figure, raising concerns for the Swiss National Bank. Also, an overvalued franc is...

Germany’s trade surplus falls in July on slump in exports

Sep 09, 2016 09:35 am UTC| Commentary Economy

Germanys trade surplus slowed during the month of July, coming in lower than what markets had earlier anticipated, following adecline in exports, the latest in a string of weak economic data from Europes industrial...

Yuan’s inclusion in SDR likely to lead to capital flows of $31 billion for direct allocation

Sep 09, 2016 08:34 am UTC| Commentary Insights & Views Economy

The International Monetary Funds new Special Drawing Rights basket which includes the yuan will take effect on October 1. The weights of the basket currencies will be in the manner of 41.73 percent for the US dollar, 30.93...

Economic growth in Chile seems to be on a weak track, although consumer demand seen to improve

Sep 09, 2016 08:21 am UTC| Commentary Economy

Economic weakness in Chile persisted during the month of July; however, consumer demand is improving or at least not weakening further. The IMACEC economic activity index increased 0.5 percent in July compared to a year...

China forex reserves hit 4-year low in August as PBoC indulges to defend USD/CNY at 6.70 mark

Sep 09, 2016 07:39 am UTC| Commentary Economy

Chinas foreign exchange reserves dropped to the lowest level since 2012, suggesting that the Peoples Bank of China (PBoC) was intervening to defend USD-CNY at the 6.70 mark. Chinas foreign reserves dropped by USD 15.9...

New Zealand’s retail spending on electronic cards falls in August, restraint in spending patterns to continue

Sep 09, 2016 07:36 am UTC| Commentary Economy

Retail spending on electronic cards in New Zealand dropped in August after rising in July. It declined 0.4 percent in sequential terms in the month, as compared with a 0.2 percent month-on-month rise in July. This was...

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Economy

Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth

Vietnam recorded a notable month-on-month decline in trade activity in November, according to new data from the National Statistics Office (NSO). Exports fell 7.1% from October, reaching $39.07 billion, while imports...

Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook

Fitch Ratings has reaffirmed Austrias Long-Term Foreign-Currency Issuer Default Rating at AA with a Stable Outlook, underscoring the countrys strong economic fundamentals despite rising fiscal pressures. According to the...

Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut

The upcoming Federal Reserve meeting is shaping up to be one of the most closely watched and contentious in years, with investors focused on how divided policymakers are over a potential interest-rate cut and the signals...

U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut

U.S. stocks ended higher on Friday as a softer inflation reading strengthened expectations that the Federal Reserve could move forward with an interest-rate cut next week. The SP 500 climbed 0.2%, the Dow Jones Industrial...

U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut

U.S. stocks closed the week with modest gains on Friday, as investors weighed a wave of delayed economic data and maintained strong expectations for a Federal Reserve interest rate cut at next weeks policy meeting. Despite...

Politics

CFPB to Review Anti-Discrimination Policies and Fair Lending Rules Amid Policy Shift

The U.S. Consumer Financial Protection Bureau (CFPB) is preparing to convene its Consumer Advisory Board next week to review major policy changes, including a controversial proposal to scale back long-standing...

Supreme Court to Review Legality of Trump’s Birthright Citizenship Restrictions

The U.S. Supreme Court has agreed to examine the legality of President Donald Trumps directive aimed at restricting birthright citizenship, a move that could redefine a long-standing interpretation of the 14th Amendment....

Australia Imposes Sanctions on Taliban Officials Over Human Rights Abuses

Australia has announced new financial sanctions and travel bans against four senior officials of Afghanistans Taliban government, citing the worsening human rights situation in the country, particularly the escalating...

U.S. Appeals Court Rules Trump Can Remove Members of Key Federal Labor Boards

A U.S. appeals court has ruled that President Donald Trump had the authority to dismiss Democratic members of two major federal labor boards, marking a significant win for efforts to expand presidential control over...

Trump Backs Review of U.S. Childhood Vaccine Schedule After Hepatitis B Policy Change

President Donald Trump on Friday expressed support for a major shift in U.S. vaccine policy after government advisers voted to eliminate the long-standing recommendation that all newborns receive the hepatitis B vaccine at...

Science

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Trump and Merck KGaA Partner to Slash IVF Drug Costs and Expand Fertility Coverage

U.S. President Donald Trump and German pharmaceutical company Merck KGaA have announced a groundbreaking deal aimed at lowering the cost of in-vitro fertilization (IVF) treatments while boosting access to fertility care in...

Technology

Taiwan Opposition Criticizes Plan to Block Chinese App Rednote Over Security Concerns

Taiwans political landscape heated up after the government announced a plan to suspend access to the Chinese social media platform Rednoteknown as Xiaohongshufor one year. The interior ministry said the proposed ban stems...

EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp

The European Commission is reportedly preparing to launch a new antitrust investigation into Meta Platforms Inc. (NASDAQ: META) over the companys recent rollout of artificial intelligence features within WhatsApp....

Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX

OpenAI CEO Sam Altman reportedly explored raising significant capital to acquire or partner with a rocket company, a move that could have created direct competition with Elon Musks SpaceX. According to a report from the...

Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation

Wikipedia is seeking additional licensing deals with major technology companies to address the growing financial burden caused by artificial intelligence firms heavily scraping its platform, according to co-founder Jimmy...

Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature

Firelight reaches 25M XRP deposit cap within hours of launch; ushers in a new era for decentralized XRP staking. A new XRP staking platform, Firelight, has officially launched on the Flare blockchain, marking the first...