Gold surged to record highs, defying the strong dollar, while global stocks dipped as investors remained cautious ahead of the U.S. election. With rising U.S. Treasury yields and potential market volatility, attention turns to the economic impact of election outcomes.
Global finance leaders meet in Washington this week to address global growth, debt, and green energy amid uncertainties from conflicts, a slowing Chinese economy, and the potential impact of the U.S. election on trade and climate policies.
Meta has laid off staff across Instagram, WhatsApp, and Reality Labs to align with long-term goals.
Oil prices fell 2% as OPEC downgraded its global demand forecast and China's oil imports dropped for the fifth consecutive month. Concerns over Israeli-Iran tensions also weighed on markets, with Brent settling at $77.46 per barrel and WTI at $73.83 per barrel.
Daren Acemoglu, Simon Johnson, and James A. Robinson won The 2024 Nobel Prize in Economics for their inspiring research on “ How institutions are formed and affect prosperity”
Tesla CEO Elon Musk unveiled a futuristic robotaxi with gull-wing doors and no steering wheel or pedals, aiming for a 2026 production at under $30,000.
The U.S. DOJ's proposed remedies to break up Google's search dominance could weaken its core business and impact AI advancements.
Airlines, energy firms and a Universal Studios theme park were among the companies beginning to halt their Florida operations
Mark Zuckerberg has surpassed Jeff Bezos as the world's second richest person, with a net worth of $206.2 billion.
Turkish annual inflation dropped to 49.38% in September, but a higher-than-expected monthly rate of nearly 3% raised caution from the central bank. With the policy rate now above annual CPI, analysts predict interest rate cuts may not begin until next year despite earlier expectations.
Oil prices rose on Thursday amid concerns that escalating Middle East tensions could disrupt crude supplies, though strong global supply capped gains. Brent crude hit $75.31, with fears growing over potential Israeli strikes on Iran. Rising U.S. inventories suggest the market remains well supplied.
OpenAI has secured $6.6 billion in funding, potentially valuing the company at $157 billion. Despite recent leadership changes, investor confidence remains strong, with projections of $3.6 billion in revenue this year and expectations for significant growth ahead.
The U.S. dollar surged on Wednesday following an Iranian missile attack on Israel, as investors sought safe-haven assets amid rising tensions. The dollar index climbed 0.5% to 101.2, driven by strong U.S. job openings data and concerns over Middle East conflict.
Amazon wins a partial dismissal of the FTC lawsuit accusing it of monopolistic practices, though key details remain sealed. The FTC claims Amazon used anti-competitive tactics to dominate online marketplaces. The case will proceed in two parts, with some allegations allowed to continue.
