economy
China Shut Down 670 Lenders Amid Sinking Loan Growth
Beijing has eliminated a record 670 regional lenders as falling credit demand and a troubled property sector expose severe vulnerabilities in China's rural banking system.
Kazakhstan, Uzbekistan trade rises by 30%
Economic ties between Kazakhstan and Uzbekistan have strengthened, with bilateral trade climbing nearly 30% to reach $3.25 billion over seven months.
Italy received 166 billion euros in EU recovery funds by April 2026
Italy has secured 166 billion euros in EU recovery funds by April 2026, representing the largest share in the bloc, though execution faces domestic labor pushback.
Russia sets record 2027 military budget of 17.1 trillion roubles
Moscow plans to spend 17.1 trillion roubles on its military, marking a significant increase as national budget deficits grow.
Scottish Central Bank needed on day one of independence, report urges
A new macroeconomic report argues that an independent Scotland must establish a tailored central bank from day one rather than relying on transitional arrangements tied to the Bank of England.
EU urges UK to drop Brexit red lines for Canada-style deal
The EU has challenged British leadership to abandon long-standing negotiating restrictions, pointing to a Canada-style associate membership model as a blueprint for future cooperation.
Alberta to pause provincial fuel tax for three months starting October
Alberta is pausing its 13-cent-per-litre provincial fuel tax on gasoline and diesel for three months, abandoning a criticized rebate program after a budget surplus.
Federal Reserve rate hike reflects new world of sticky inflation and faster growth
The Federal Reserve hiked its benchmark rate to 3.9% amid a structural macroeconomic shift driving higher borrowing costs and sticky inflation.
Federal Reserve hikes key interest rate for first time in three years
The U.S. Federal Reserve raised its benchmark interest rate for the first time in over three years, drawing sharp criticism from President Trump.
UK inflation rises to 3.1% further complicates Bank of England meeting
UK inflation rose to 3.1% in August due to soaring fuel and energy costs, increasing pressure on policymakers as they prepare their interest rate decision.
Anthropic study projects AI could boost US GDP 32% by 2030 but disrupt jobs
A new working paper from the Anthropic Institute explores how artificial intelligence could expand the U.S. economy by 2030 while threatening labor market disruption.
Trump promises $5,000 dividend to Americans if Republicans retain Congress
US President Donald Trump has pledged a $5,000 federal payout to every adult American if the Republican Party retains control of both chambers of Congress.
Greece Unveils 17 Measures to Cut Taxes and Boost Incomes
The Greek government has unveiled a sweeping package of 17 economic reforms aimed at reducing taxes and raising wages across the country.
WATCH: Trump touts the economy in Pennsylvania, following interim agreement with Iran
President Donald Trump visited a manufacturing facility in Pennsylvania to refocus public attention on the domestic economy following an interim agreement regarding the recent conflict in the Middle East.
Trump manufacturing pledge falters as factory construction and jobs slump
Despite massive industrial pledges and aggressive tariffs, official data reveals a slump in factory construction spending and significant job losses.
Canada and US trade war shatters alliance after tariff talks collapse
The historic alliance between Canada and the United States has fractured into a trade war following the collapse of negotiations, with tariffs taking effect.
UK GDP growth eases to 0.4% in Q2 but services keep economy resilient
Britain's GDP growth eased to 0.4% in the second quarter of 2026, though a strong services sector and a surprise June boost kept the economy resilient.
US inflation eases to 3.4% in July, easing pressure on Fed
US consumer prices rose 3.4% in the year to July, offering the Federal Reserve a modest breather ahead of its upcoming September policy meeting.
Andy Burnham launches nationwide cost-of-living tour to shape ten-year plan
Prime Minister Andy Burnham has embarked on a nationwide listening tour to gather public feedback on everyday expenses and inform a new ten-year strategy.
Elon Musk warns AI will surpass human intelligence within five years
Elon Musk claims artificial intelligence will surpass the sum of human intelligence within five years and potentially make money irrelevant by 2036.