UK retail sales growth cut to 1.1% after ONS error
The accuracy of Britain’s economic data has come under fresh scrutiny after the Office for National Statistics (ONS) admitted to a mistake in its retail sales figures. On Friday, the…
Economy
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Evening digest: US job openings slide and tech stocks lift Wall Street
Wednesday saw developments across markets and geopolitics as US markets saw a mixed session, with most gains tied to Google and Alphabet. The US job openings fell to their lowest…
JPMorgan forecasts gold rally, eyes $4,000 as central bank policies shift
JPMorgan analysts predict further increases in gold prices, which are already at record highs. This projection is attributed to growing expectations of rate cuts and concerns regarding the independence of the…
Trump seeks SC backing for tariffs that could reshape $1 trillion trade flow
The legal fight over tariffs in the United States is heading to the highest court, with President Donald Trump asking the Supreme Court to uphold his sweeping global levies. At…
Job losses loom for South African sugar farmers amid trade challenges
South Africa’s sugar farmers face a “double whammy” from cheap imports and US tariffs, which have been eating into their earnings. Nkosinathi Msweli’s sugarcane farm in KwaDukuza, a predominantly rural and…
SovEcon raises Russian wheat export forecast for 2025-26, but initial shipments low
Leading agricultural consultancy SovEcon has revised upwards its projection for Russian wheat exports during the 2025-26 marketing season. The firm now anticipates Russia to ship a robust 43.7 million metric tons…
ECB holds interest rates steady at 2% as inflation nears target
The European Central Bank (ECB) is keeping its deposit rate at 2% for now, with policymakers signalling that the next step could be either a cut or a hike depending…
Rupee defies regional weakness to rise against dollar
The Indian rupee edged higher on Wednesday, bucking the cautious mood in Asian markets, with traders pointing to fading bearish sentiment in the options space. The local unit was quoted…
Turkey inflation eases to 33% in August as markets face political turmoil
Turkey’s inflation slowed slightly in August, but the figure came in higher than analysts expected, underscoring the challenge facing policymakers as they continue to balance monetary easing with political pressures.…
Evening digest: Trump’s fresh jabs against India, Alibaba’s cloud lift, WLFI’s $30B splash
Global markets opened the week to a mix of political and financial headlines with Trump reigniting tariff tensions with India, US stock futures holding steady during the holiday, Alibaba rallying…