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Oil Prices Rise Over 1% on Positive U.S. Economic Data and Geopolitical Tensions

Aug 17, 2024 00:03 am UTC| Market Roundups Economy

Oil prices surged by over $1 per barrel on August 15, driven by positive U.S. economic data that eased recession fears. Brent crude rose 1.6% to $81.04 per barrel, while West Texas Intermediate increased 1.53% to $78.16,...

Raising the retirement age won’t defuse China’s demographic time bomb – but mass immigration might

Aug 16, 2024 06:15 am UTC| Insights & Views Economy

Chinese workers may soon have to work just a little bit longer. In late July 2024, Chinas ruling Communist Party adopted a resolution that would see the countrys statutory retirement age gradually rise over the next...

Is Australia ‘giving away’ its natural resources?

Aug 16, 2024 03:53 am UTC| Insights & Views Economy

Speaking on ABCs QA on Monday night, Nobel Prize-winning economist Joseph Stiglitz claimed Australia was giving away its natural resources, something he found mind boggling. He said that if Australia made the fossil...

Philly schools are in disrepair − the municipal bond market is 1 big reason

Aug 16, 2024 03:51 am UTC| Economy

Many of Philadelphias schools are in terrible shape. The average public school building in the city is over 70 years old, and some are over 120 years old. The state of disrepair, including a lack of air conditioning and...

China’s Retail Sales Grew in July, But Industrial Production and Investment Lag Behind

Aug 16, 2024 03:38 am UTC| Business Economy

Chinas retail sales grew by 2.7% in July, surpassing expectations and marking an improvement from Junes 2.0% increase. However, industrial production and fixed-asset investment showed slower growth, highlighting the uneven...

Japan’s Economy Rebounds with 3.1% Growth, Driven by Consumer Spending and Business Investment

Aug 16, 2024 02:37 am UTC| Economy

According to government data released on August 15, Japans economy expanded at an annual rate of 3.1% in the April-June quarter. This growth marks a significant rebound from the previous quarters contraction, fueled by...

Seven & i Holdings to Launch Renewable Energy Subsidiary, Powering 7-Eleven Stores in Japan

Aug 15, 2024 02:15 am UTC| Business Economy

Seven i Holdings is set to enter Japans electricity retail market in April, launching a new subsidiary to provide renewable power to its 7-Eleven and other group stores. This move aligns with the companys goal to achieve...

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Economy

RBI Clamps Down on Rupee NDF Activity, Banks Face Steeper Losses

Indian banks are bracing for heightened uncertainty after the Reserve Bank of India (RBI) tightened its grip on currency markets, barring lenders from offering rupee non-deliverable forwards (NDFs) to both resident and...

Oil Prices Surge Over $5 as Trump Vows to Continue Iran Strikes

Global oil prices jumped sharply on Thursday after President Donald Trump declared that the United States would press forward with military strikes against Iran, stopping short of outlining any concrete timeline or exit...

Trump's Iran War Speech Sparks Market Anxiety Over Extended Conflict

President Donald Trump addressed the nation Wednesday evening, declaring that U.S. military operations against Iran were nearing their core objectives but warned that intensive strikes would continue for another two to...

Trump Threatens Escalation Against Iran, Warns of Infrastructure Strikes

President Donald Trump announced Wednesday that the United States would significantly intensify its military operations against Iran within the next two to three weeks, while warning of devastating strikes on the countrys...

Asian Stocks Drop as Trump Signals Iran War Escalation

Asian equity markets retreated sharply on Thursday, erasing earlier gains as U.S. President Donald Trump announced plans to intensify military operations against Iran within the next two to three weeks. The remarks sent...

Politics

Federal Judge Rules CBP Violated Warrantless Arrest Order During Sacramento Immigration Sweep

A federal judge in California has found that U.S. Customs and Border Protection (CBP) officials violated a prior court order when they conducted a warrantless immigration sweep at a Sacramento Home Depot parking lot. U.S....

Coral Springs Vice Mayor Nancy Metayer Bowen Killed in Suspected Domestic Violence Incident

Nancy Metayer Bowen, the 38-year-old vice mayor of Coral Springs, Florida, was fatally shot at her home on Wednesday in what authorities are investigating as a domestic violence homicide. Her husband, Stephen Bowen, 40,...

Trump Administration Plans 100% Tariffs on Pharmaceutical Imports

The Trump administration is moving forward with plans to impose tariffs as high as 100% on pharmaceutical imports, according to a Financial Times report citing sources familiar with the matter. The levies could be...

Trump Defends U.S.-Israel War on Iran in Prime-Time Address as Public Support Wanes

President Donald Trump took to prime-time television Wednesday night to defend the ongoing U.S.-Israeli military campaign against Iran, now entering its second month. In a 19-minute White House address, Trump claimed...

Trump Claims Iran Sought Ceasefire as Middle East War Escalates

Tensions in the Middle East reached a new flashpoint this week as U.S. President Donald Trump publicly claimed that a senior Iranian official requested a ceasefire, a statement Tehran swiftly and firmly rejected. The...

Science

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

Technology

SpaceX Eyes Historic IPO at $1.75 Trillion Valuation

Elon Musks aerospace giant SpaceX has quietly filed a confidential IPO registration with the U.S. Securities and Exchange Commission, according to Bloomberg News sources familiar with the matter. The move signals that the...

Annie Altman Amends Sexual Abuse Lawsuit Against OpenAI CEO Sam Altman

Annie Altman has filed an amended civil lawsuit against her brother, OpenAI CEO Sam Altman, accusing him of sexually abusing her over a span of nearly a decade. The amended complaint was submitted Wednesday in St. Louis...

TSMC Japan's Second Fab to Produce 3nm Chips by 2028

Taiwan Semiconductor Manufacturing Company (TSMC), the worlds leading contract chipmaker, has confirmed plans to begin equipment installation and mass production of 3-nanometre wafers at its second fabrication plant in...

Apple Turns 50: From Garage Startup to AI Crossroads

In early 1976, engineer Steve Wozniak finished designing a computer circuit board he planned to share with fellow hobbyists at a local California tech club. His friend Steve Jobs recognized a commercial opportunity, and...

Rubio Directs U.S. Diplomats to Use X and Military Psyops to Counter Foreign Propaganda

Secretary of State Marco Rubio has instructed American diplomats to leverage social media platform X and collaborate with Pentagon psychological operations units as part of a broader strategy to combat foreign...