China’s economy is showing signs of recovery after the strict Covid-19 restrictions put in place since 2020. Data released by the National Bureau of Statistics on Wednesday revealed industrial production rose 2.4% in February from the same period last year, with fixed asset investment increasing 5.5%.[0] Retail sales also grew 3.5% year-on-year in the January-February […]
Continue readingThe Consumer Price Index (CPI) released by the Bureau of Labor Statistics on Tuesday showed that inflation in the US remains stubbornly high, but is gradually cooling off. The CPI rose 0.4% in February, with core CPI, which excludes food and energy prices, increasing 0.5%.[0] Year-over-year, the headline rate fell from 6.4% to 6%, while […]
Continue readingArgentina’s annual inflation rate has surpassed 100% for the first time since 1991, marking a three-decade high and revealing the government’s insufficient efforts to control rising prices in the country.[0] According to new figures released by the country’s statistical body INDEC, the inflation rate rose to 102.5% in February, the highest since late 1991 when […]
Continue readingThe collapse of Silicon Valley Bank (SVB) last Friday represents the second-largest bank failure in U.S. history and the first since the 2008 financial crisis.[0] SVB, a financial pillar of the startup world, was heavily invested in normally secure bonds, but rising interest rates lowered the value of the bank’s bonds.[1] This, combined with venture […]
Continue readingPresident Joe Biden on Monday sought to reassure Americans that the U.S. banking system is safe in the wake of the failure of Silicon Valley Bank and federal intervention.[0] Taking action to “reduce the risks of this happening again,” he said he would ask Congress and banking regulators “to strengthen the rules for banks to […]
Continue readingThe market was relieved to see that the February Consumer Price Index (CPI) was in line with economists’ expectations, with a 0.4% increase from January, and a 6.0% year-over-year increase.[0] Core CPI, which strips out food and energy, rose 0.5%, slightly higher than the median forecast of economists in a Bloomberg survey.[1] The Core CPI […]
Continue readingInflationary pressures continued to cool in the U.S. in February, according to the latest Consumer Price Index (CPI). The annual rate of inflation fell from 6.4% to 6.0%, the lowest reading since September 2021.[0] On a month-over-month basis, prices rose 0.4%, in line with expectations. Core CPI, which excludes food and energy, also rose 0.5% […]
Continue readingPresident Joe Biden took to the podium on Monday in an effort to reassure Americans that their deposits and the entire banking system are safe, despite the collapse of Silicon Valley Bank and Signature Bank.[0] He promised taxpayers would not bear the costs and the money would instead come from fees that banks pay into […]
Continue readingThe latest consumer price index (CPI) data released Tuesday by the U.S. Bureau of Labor Statistics showed a 0.4% month-over-month rise in February and a 6.0% year-over-year increase, both in-line with expectations.[0] The year-over-year rate of inflation slowed from 6.4% in January, representing the slowest annual increase in consumer prices since September 2021.[1] Core CPI, […]
Continue readingSilicon Valley Bank, a 40-year-old institution based in Santa Clara, California, had become the bank of choice for nearly half of all U.S. tech startups backed by venture capital.[0] But on Thursday, March 11, rumblings of a bank run on SVB began and by Friday it had collapsed, becoming the largest American bank failure since […]
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