In June, the annual rate of U.S. inflation surpassed economists' expectations and set a 41-year record high of 9.1 percent. Increased pressure on the Fed and the Biden administration results from accelerated price growth. According to information from the US Labor Department, the U.S. consumer price index increased by 9.1% year over year in June, setting a record that has stood since the end of...

In the first half of 2022, China's agricultural exports increased by 21.7 percent to $45.08 billion while its agricultural imports increased by 5 percent to $109.5 billion, according to Li Kuiwen, spokesperson for the General Administration of Customs in China. Li Kuiwen reported that the first half of the year saw an increase of 21.7 percent in China's agricultural exports, reaching 303.1...

According to Bloomberg and The Wall Street Journal, implementation of the global tax overhaul for multinational corporations would not begin until 2024. Work on tax adjustments for multinational firms is currently proceeding as part of an agreement signed under the auspices of the Organization for Economic Cooperation and Development (OECD) in October 2021. A reform that would allow countries...

International rating agency Fitch confirmed the United States' long-term issuer default rating (IDR) at "AAA" while changing the outlook from negative to stable. The announcement stated that the outlook was changed to stable to reflect "better near-term public debt dynamics" brought on by "strong post-pandemic economic recovery" and "strong government revenues, which Fitch forecasts to expand by...

For the first time since mid-June, Bitcoin has surpassed the $22,000 mark. The cryptocurrency market is once again valued at $1 trillion, and the largest coin may expand by 13 percent per week. That is the largest weekly increase since 2021. The price of a single Bitcoin increased to $22,000 on cryptocurrency markets. According to Bloomberg, the price of the largest cryptocurrency increased by...

According to a news statement from the European statistical agency Eurostat, the volume of retail sales in the euro area increased in May by 0.2% over April. DailyFX's poll of analysts forecasted a 0.4 percent rise. Retail sales in the area increased 0.2 percent in May on an annualized basis. Analysts had predicted a fall of 0.4%, in comparison. Retail sales in the European Union increased 0.8...

To attract investments, the Brazilian government has permitted lithium exports. To encourage investment in the sector particularly in the most underdeveloped area of the country, the Brazilian government has approved the export of lithium materials and their derivatives. Lithium minerals, ores, and their derivatives can now be traded internationally, according to Brazil's Ministry of Mines and...

According to Audun Ingvartsen, the leader of the trade union Lederne, the walkout by employees of Norwegian oil and gas businesses has ended. The agency stated that Norwegian oil and gas workers went on strike Tuesday night in protest over lower pay. On Tuesday, the Norwegian government took action to put an end to the strike. The strike, according to the union’s head in Norway, has ended. As...

Due to high prices and a limited supply, the International Energy Agency (IEA) anticipates a fall in gas demand by the end of 2022 and moderate growth through the end of 2025. This forecast is made in the IEA's quarterly gas market report. The IEA stated that "current high prices and supply problems, which arose in the second half of 2021 and further aggravated after Russian soldiers entered...