US Trade Deficit Widens by $2.9 Billion in August as Imports Surge
(BEA) The international trade in goods and services deficit in the US came at $73.3 billion in August, an increase of 4.2% or $2.9 billion from July. The increase in…
Udemy Files for US Public Listing in the Booming Online Learning Space
(Reuters) Udemy Inc. has filed an initial public offering to go public on Nasdaq following a surge in online learning during the pandemic. Udemy’s revenues rose by 55.6% to $429.9…
Crypto’s $2.15T Market Cap “Too Large to Ignore.” — BofA
(BofA) The Bank of America maintains a bullish outlook on the long-term cryptocurrency prospect, warning that it is difficult to ignore the $2.15-trillion market cap. BofA says the digital asset…
Facebook Blames Network Configuration Hitch on Monday’s Global Service Outage
(Bloomberg) Facebook experienced a global service outage on Monday in what the company said was due to a network configuration problem. Facebook’s Instagram, WhatsApp, and messenger social network services went…
China Wants Banks to Increase Energy Sector Lending Amid Power Crisis
(Bloomberg) China has ordered its financial institutions to increase lending to the energy sector firms to ease the power shortage this winter. The China Banking and Insurance Regulatory Commission says…
UK Services Sector Registers Growth Increase as Index Hits 55.4 in September
(IHS Markit) UK Services Business Activity Index was 55.4 in September, a slight recovery from a six-month low of 55.0 in August. Despite the recoveries in the UK service sector,…
Tokyo’s Ku-area Posts a 0.5% Monthly Jump in Consumer Prices in September
(Statistics Bureau of Japan) Consumer prices surged by 0.5% in the Ku-area of Tokyo to reach an index of 100.1 in September from August. The index was up 0.3% year…
U.S. Investors Bet on Tech Stocks Amid Tough Economic Conditions
(Reuters) The US Investors are hesitant to cut technology stocks in their portfolio amid poor stock market performance that has seen most indices dip. S&P 500 technology sector index dipped…
Euro Area Composite Output Index Slips to 56.2 in September as Growth Softens
(IHS Markit) Eurozone Composite Output Index was 56.2 in September, a further fall from 59.0 in August and a 15-year record high in July. At an output index of 56.2,…
A $2.3B Increase in Airport Infrastructure Costs Complicating Air Travel- IATA
(IATA)The International Air Transport Association is warning that a $2.3 billion increase in airport and air navigation service provider charges could hamper air transport recovery. IATA says the costs could…
Ford’s Retail Sales in the US Jump by a Monthly 34.3% Rate in September
(Ford) Ford automobile retail sales rose by 34.3% in September from August, taking its total sales in the US to 156,614. The sales reflected revamped production and inventory in August,…
Manufactured Goods Orders Jumps by 1.2% in August
(Census Bureau) US orders for manufactured goods rose by 1.2% or $6.2 billion in August to reach $515.7 billion. The increase was higher than a jump of 0.7% in July.…
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