The Federal Reserve has opted not to increase its base interest rate but did not rule out further hikes as, it said, the full effect of rises has not been felt. The cost of US borrowing had been brought to a 22-year high at the last interest rate meeting in July, after a brief pause […]

The US economy grew more slowly in the second quarter than previously estimated — a good sign for the Federal Reserve, which is attempting to cool demand to bring down price increases. Gross domestic product, the broadest measure of economic output, rose at an annualized rate of 2.1% in the second quarter, according to the […]

The number of available jobs in the United States shrank for the third consecutive month, dropping below 9 million for the first time since early 2021, according to the latest data released Tuesday by the Bureau of Labor Statistics. In addition, a smaller number of workers quit their jobs, businesses hired fewer workers and layoffs […]

Americans felt more pessimistic about the economy in August, following two straight months of growing confidence. The Conference Board’s Consumer Confidence Index, which gauges Americans’ attitudes towards the economy and job market, fell to a reading of 106.1 in August, down from 114 in July, reversing the improvements made in the summer. The falling optimism […]

The US tech firm that dominates the market for chips used in artificial intelligence (AI) has delighted investors with a doubling in quarterly revenue, promising more of the same in future. Nvidia shares gained almost 10% in after-hours trading in New York on Wednesday night when it revealed a string of numbers that beat analysts’ […]

The UK economy grew slightly in the three months to June, according to official estimates. Gross domestic product (GDP) increased by 0.2% in the second quarter of the year, the Office for National Statistics (ONS) said. In June alone it rose by 0.5%. It comes after a rate of 0.1% was recorded in the first […]

The Bank of England has raised interest rates for the 14th successive time, lifting its official rate to 5.25%. The quarter percentage point increase was somewhat smaller than some economists had expected, following the release of lower-than-anticipated inflation data last month. “Inflation is falling and that’s good news,” said the Bank’s governor Andrew Bailey. “We […]

The interest rate in the 20 Eurozone countries has been returned to the highest ever level. Not since October 2000, when the euro was newly launched, have rates been this high. On Thursday, the European Central Bank (ECB) increased its benchmark rate to 3.75%, up 0.25 percentage points, making borrowing more expensive as inflation stood […]

Apple has surpassed Microsoft, which is valued at $2.5trn, while oil giant Saudi Aramco is worth $2.08trn. Google parent company Alphabet, Amazon and software giant Nvidia, a world leader in AI technology, have market values of more than $1trn each. Apple has entered the history books as the first public company to be valued at […]

The Bank of England has shocked economists and investors by raising interest rates half a percentage point to 5% – the highest level since 2008. Economists had expected the Monetary Policy Committee to raise interest rates by only a quarter percentage point, but the MPC voted 7-2 for the surprise increase, explaining that it was […]