Economy News

Economy

Federal Reserve's Rate-Cutting Strategy: Insights from Philadelphia President Patrick Harker

Federal Reserve Bank of Philadelphia President Patrick Harker discusses the central bank's ongoing interest rate-cutting strategy, emphasizing a data-dependent approach amidst glob...

Economy

Boston Fed's Susan Collins Advocates for Gradual Monetary Policy Amid Inflation Concerns

Susan Collins, President of the Federal Reserve Bank of Boston, emphasizes a cautious approach to monetary policy, noting the resilience of the labor market and the persistence of ...

Economy

UBS Set to Finalize Settlement in Credit Suisse's U.S. Tax Evasion Case

UBS Group AG is reportedly close to settling Credit Suisse's longstanding tax dispute with the U.S. Department of Justice, involving allegations of aiding American clients in tax e...

Economy

December Sees a 33% Drop in US Job Cuts: A Glimpse into 2024's Employment Landscape

December saw a 33% decrease in US job cuts to 38,792, with 2024 marking a high of 761,358 cuts, led by the technology sector. Employers anticipate more uncertainty, affecting hirin...

Economy

Eurozone Retail Sales Show Slight Uptick in November, Yet Non-Food Products Struggle

In November, the euro area's retail trade grew by 0.1%, with the EU seeing a 0.2% increase. Year-over-year, the Eurozone and EU experienced growths of 1.2% and 1.5%, respectively. ...

Economy

ECB Confirms Smooth Progress in Euro Area's Disinflation Journey Towards 2% Target

The European Central Bank reports smooth progress in the euro area's disinflation process, with inflation expected to stabilize around the 2% target. The ECB remains committed to i...

Economy

Volkswagen Reports Slight Dip in 2024 Vehicle Deliveries Amid Global Challenges

Volkswagen AG reported a 1.4% decrease in global vehicle deliveries in 2024, with 4.8 million units distributed. Despite challenges, the company sold 383,100 BEVs and saw growth in...

Economy

Germany's Industrial Surge: A 1.5% Rise in November Signals Economic Resilience

Germany's industrial production rose by 1.5% in November, with significant growth in the energy and transport equipment sectors. Despite a year-on-year decline, the increase signal...