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Economy
Biden taxes foreign-made steel and aluminium imports routed through Mexico to check China
July 11, 2024 03:42 AM AEST| By InvezzThe United States government under Joe Biden will be imposing tariffs on steel and aluminium imported from Mexico but made in a different region in what appears to be a bid to check China from routing its goods through the country to enter USA. ...
French elections: What a hung parliament in France could mean for financial markets
July 08, 2024 09:56 PM AEST| By InvezzInitial indications from the French parliamentary run-off vote on Sunday evening revealed some unexpected results, leaving political commentators contemplating a “hung parliament” scenario. This outcome could prove challenging for both policymaking a...
French elections: National Rally is set to win and here’s why it’s more important than you might think
July 07, 2024 08:09 PM AEST| By InvezzFrance stands at a political crossroads, casting votes in one of its most significant elections in years. The far-right National Rally (RN), led by Marine Le Pen and Jordan Bardella, is on the brink of a historic breakthrough, with the potential to g...
Who is Keir Starmer and how did he go from human rights law to Number 10?
July 07, 2024 08:00 PM AEST| By Invezz“We did it!” exclaimed Labour Leader Sir Keir Starmer after it was revealed that his party claimed a landslide victory in the United Kingdom’s general election. “Change begins now,” he added. It’s been a long wait of 14...
EU Commission requests Amazon for DSA compliance data
July 06, 2024 12:57 AM AEST| By InvezzThe European Commission has issued a new request for information (RFI) to Amazon, focusing on its compliance with the Digital Services Act (DSA). This move highlights the increasing scrutiny on the e-commerce giant regarding its recommender systems,...
UK General Elections: Key takeaways from Starmer-led Labour’s win and thrashing of Sunak’s Tories
July 05, 2024 06:57 PM AEST| By InvezzKeir Starmer will become Prime Minister in the coming hours after sweeping away a 14-year era of Conservative rule and leading the Labour Party to a massive landslide victory in Britain’s general election. The British public has rejected the Conserva...
Bezos plans major $5 billion sell-off as Amazon shares soar 32% this year
July 04, 2024 02:52 AM AEST| By InvezzJeff Bezos has disclosed a plan to sell 25 million additional shares of Amazon.com Inc., valued at approximately $5 billion. This announcement coincided with Amazon’s stock reaching a new record high of $200 per share. The notice, filed after market...
Julian Assange release: what are politicians around the world saying?
June 25, 2024 08:46 PM AEST| By InvezzJulian Assange, WikiLeaks founder and former editor-in-chief, will appear before court in Saipan tomorrow to allegedly plead guilty to a felony charge. After this, he will be returning home to Australia, according to WikiLeaks. But how do Australia&#...
Good news for the UK economy as retail sales rebound 2.9%
June 21, 2024 08:26 PM AEST| By InvezzThis morning, the Office for National Statistics (ONS) reported that the United Kingdom’s retail sales for May 2024 climbed by close to 3% – thanks in part to the weather. Spending heated up dramatically for the nation last month – which the...
New Zealand economy exits recession, but remains at risk
June 20, 2024 09:39 PM AEST| By InvezzNew Zealand has emerged from a recession that saw two consecutive quarters of economic contraction within an 18-month span. Official figures released on Thursday revealed that the country’s gross domestic product (GDP) grew by 0.2 percent in th...
More than 6,700 millionaires set to migrate to the UAE in 2024, here’s why
June 19, 2024 09:29 PM AEST| By InvezzUnited Arab Emirates (UAE), in a remarkable display of economic magnetism, is set to attract a net inflow of 6,700 millionaires by the end of 2024, marking the third consecutive year it leads global wealth migration. This data comes from the Henley P...
Swiftflation: How Taylor Swift’s UK tour might influence the Bank of England’s rate cut plans
June 18, 2024 08:06 AM AEST| By InvezzTaylor Swift’s record-shattering Eras Tour is supercharging consumer spending as it enters its U.K. leg, suggesting that the Bank of England (BoE) may face new challenges in its fight against inflation. As hundreds of thousands of dedicated Swifties...
China launches probe into pork imports from EU in retaliation to tariffs on EVs
June 18, 2024 12:09 AM AEST| By InvezzChina has launched an anti-dumping investigation into certain pork products imported from the European Union, a move widely seen as retaliation for the EU’s imposition of steep tariffs on electric vehicles (EVs) imported from China. This develo...
CNY bearish: China’s confidence plummets as outstanding loans hit record low
June 14, 2024 08:12 PM AEST| By InvezzToday, the People’s Bank of China (PBoC) revealed the country’s latest figures for both new and outstanding loans data for May 2024. Outstanding loan growth hits new record low Out earlier today were PBoC’s outstanding loan growth figures for May 202...
G7 to provide $50 billion loan to Ukraine by end of 2024
June 14, 2024 05:54 AM AEST| By InvezzGroup of Seven (G7) leaders announced on Thursday that they have officially agreed to provide Ukraine with a $50 billion loan by the end of 2024. This decision marks a significant commitment to support Ukraine’s defense of its sovereignty amids...
Breaking: US initial jobless claims up by 13,000 to 242,000
June 13, 2024 10:51 PM AEST| By InvezzThe number of seasonally adjusted initial jobless claims in the United States increased by 13,000 to 242,000 for the week ending June 8, according to the Department of Labor’s report published on Thursday. This figure exceeded analysts’ p...
UK GDP: economic growth stalls to 0% recession fears re-emerge
June 12, 2024 05:14 PM AEST| By InvezzHopes of the United Kingdom shaking its late 2023 technical recession appear to have been short-lived, after grim real gross domestic product (GDP) figures from the Office for National Statistics (ONS) this morning. According to the ONS, the UK econo...
JPY to make a comeback? Japan posts strong PPI figures for May
June 12, 2024 04:20 PM AEST| By InvezzIt’s been a difficult past month for the Japanese Yen, which has seen almost continuous weakening against the US dollar following the latter’s victorious bumper crop of Nonfarm Payrolls recently. As of this morning (Wednesday 12th), the USD/JPY has r...
Prof. Jeffrey Sachs: China is not a threat and enemy to the US
June 11, 2024 06:02 PM AEST| By InvezzProfessor Jeffrey Sachs has blasted the United States politicians for the ongoing tensions with China, the second-biggest economy in the world. In an interview with Judge Andrew Napolitano, he argued that it was wrong for the US to continue cri...
Bank of Canada interest rate announcement: BoC cuts rates for first time since 2020
June 05, 2024 11:46 PM AEST| By InvezzToday, the Bank of Canada (BoC) communicated its latest interest rate decision on the target for the overnight rate. Markets were on tenterhooks, expecting the first major market’s interest rate cut in over four years from Canada, potentially followe...
