Markets & Industries
U.S. inflation slows to one-year low in November - 12/14/2022
In November, price growth in the United States dropped to its lowest level since the year's began. Prices increased 7.1% over the previous year, above analyst expectations. Investors are confident that the Fed would relax its stance and that the stock market will rise in the New Year as a result of the decrease in inflation. Consumer prices in the US grew by 7.1% in November, according to data...
U.S. Air Force sign major high-tech contacts with 93 companies - 12/12/2022
The U.S. Air Force has given 93 businesses contracts for technology development totaling $900 million each. The country's defense agency reported the U.S. Air Force has agreements worth up to $900 million with 93 companies to develop cutting-edge technology in the industry. According to a statement issued by the Pentagon, "the U.S. Air Force has contracted with each of the 93 companies for up...
UK approves construction of new coal mine - 12/08/2022
According to the TV station Sky News, despite the coal mining agreements signed a year ago at the COP26 climate summit, the UK has permitted construction of a new coal mine in the county of Cumbria in the northwest of England. On April 24, it was announced that a mine would be built in the county of Cumbria to produce coking coal, which is needed to make steel. In order to lessen reliance on...
Reuters: Leading U.S. indices fall - 12/07/2022
Major U.S. indices decreased on Tuesday. Despite warnings of a potential recession next year, investors are anxious about the probability of a lengthier cycle of interest rate increases. The S&P 500 and Nasdaq Composite suffered greatly as a result of the decline in Meta stocks. According to the WSJ, EU watchdogs concluded that Facebook and Instagram should not get users' permission before...
Fitch downgrades global GDP growth forecast for 2023 - 12/06/2022
According to a press statement from Fitch, the international rating agency reduced its forecast for global GDP growth in 2023 from 1.7% to 1.4%. According to the press release, "world GDP growth predictions for 2023 have been lowered downward amid escalating central bank problems with inflation and a weaker outlook for China's real estate market." The agency also stated that the forecast for...
SIPRI: Arms sales of the world's top 100 companies grow by 1.9% in 2021 - 12/05/2022
According to a report from the Stockholm International Peace Research Institute (SIPRI), global arms sales have been increasing for the seventh year in a row in 2021. Sales grew by 1.9 percent last year to $592 billion, the organization's study states, but there were supply chain issues that could get worse as a result of military activity in Ukraine. According to SIPRI, Russian industries are...
U.S. watchdog proposes to tighten control over crypto market because of FTX bankruptcy - 12/05/2022
Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), demanded that his organization receives regulatory control over the cryptocurrency market as soon as possible to prevent incidents like the FTX fiasco in the future. Mr. Behnam made this statement during the opening U.S. Senate hearing on the defunct Bitcoin exchange. "The gap that currently exists worries me....
China's industrial activity falls for second consecutive month - 12/01/2022
The National Bureau of Statistics reports that the business activity index (PMI) for China's manufacturing sector dropped to 48 points in November. The nation's industrial activity index has declined the most since April. The manufacturing PMI in China fell for the second consecutive month. The figure was 49.2 points in September. A PMI score above 50 denotes increased activity, while one below...
FT: Global inflation is at its peak - 12/01/2022
According to the Financial Times, key economic indicators point to the possibility that global inflation has peaked and will continue to decline. Maximum values for the producer price index were seen in March through August of this year. Nearly all G20 nations' producer prices in October were lower than they were in September. More moderate changes in consumer prices are being caused by a...
WTO expects slowdown in global trade growth in late 2022-2023 - 11/29/2022
WTO analysts estimate that the world trade index is currently at 96.2 points with a baseline value of 100. According to the most recent WTO Merchandise Trade Barometer, which was published on November 28, as the global economy continues to experience significant headwinds, trade growth is anticipated to decline in the last months of 2022 and into 2023. The WTO stated that the current value of...
