The Global Economic News

Image source, Getty Images By Michael Race Business reporter , Reporting from New York Published 11 September 2026, 00:03 BST Updated 1 hour ago There's nothing like talk of energy prices and potential higher borrowing costs to remind us that the summer holidays are well and truly over. Surging oil prices have been pushing up what drivers pay at the fuel pumps and eating away at household budgets for months, and concerns remain over whether the economic impact of the US-Iran war will drive the cost of living higher. Citing the Middle East conflict and warning inflation was "set to remain well above" its 2% target for some time, the European Central Bank raised interest rates this week to 2.5%. Other central banks are also responding, with the US and the UK poised to make interest-rate decisions next week. Up first on Wednesday is the US Federal Reserve, which has held rates steady between 3.5% and 3.75% for five meetings in a row . It last made a change - a rate cut - in...

When the BRICS summit gets underway tomorrow in India, the meeting between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi will be among the most keenly watched events. Beijing confirmed Xi's attendance at the event on Thursday, marking the Chinese president's first visit to India since 2019, and since ties deteriorated following deadly border clashes in 2020. "This is a really crucial moment," Vrinda Sahai, research analyst in the Security Studies Program at Carnegie India, told CNBC. "It's a great opportunity to use the BRICS summit as an excuse to have a really substantive bilateral meeting." The meeting comes amid thawing relations between New Delhi and Beijing, and follows Modi's visit to China last year for the SCO summit , although border disputes and trade imbalance remain sticking points between the the two countries. Border issues between New Delhi and Beijing are expected to be on the agenda, a dispute that goes back ...

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Image source, Getty Images By Emer Moreau Business reporter Published 11 September 2026, 07:13 BST Updated 36 minutes ago The UK's economy grew faster than expected in July, latest official figures have shown. The economy expanded by 0.4% in the month, the Office for National Statistics (ONS) said, whereas economists had predicted no growth. The expansion was helped by a strong performance from the services sector, and particularly computer programming. It follows growth of 0.3% in June and zero growth in May. According to the ONS director of economic statistics, Liz McKeown, there was evidence that businesses involved with artificial intelligence and related technologies helped to boost the sector, not just in July but in May and June as well. She also said some businesses had said that the warm weather and football world cup had affected activity in July, although she said the effects "differed across industries, benefitting some businesses while creating challenges for oth...

"A large bank" will be sanctioned by the U.S. next week, U.S. Treasury Secretary Scott Bessent said Thursday. "We're going to do it on Monday because we want to honor the memory of our fallen citizens on 9/11. But watch this space on Monday," Bessent said during an appearance on "Real America's Voice," without naming the financial institution nor the country. The announcement come after Trump's administration sanctioned the Dubai branches of the second largest bank in Egypt which is believed to have given Iranians $1.8 billion of funds. According to Bessent, Turkey's largest bank "that had been giving to the Iranians" will also be closed. Since the Mideast conflict began in February, the U.S. implemented a series of economic measures against Iran, including sanctions. However, the Trump administration escalated its pressure last month via what Bessent called "Operation Economic Outcast ," which imposed sanctions on almo...

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Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Do you need to be a millionaire to retire? Experts weigh in on the 15% rule. Ivana Pino Senior Writer Wed, September 9, 2026 at 8:03 AM PDT 6 min read With so many guidelines around saving for retirement best practices, where to put your savings, and how much to save it can be difficult to know which path to take. The advice usually goes something like this: Save a certain percentage of your income throughout your career, and your retirement fund could be somewhere in the millions. T. Rowe Price and Fidelity both recommend that retirement savers put away at least 15% of their income, while Vanguard recommends 12% to 15%. This all sounds great in theory, but if you're earning an average salary, it could feel like a reach. However, experts say it may not be. How much do you need to earn to retire as a millionaire? Last...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . What is the 'Lean FIRE' movement, and how can it help you reach financial independence? Ivana Pino Senior Writer Wed, September 9, 2026 at 7:34 AM PDT 5 min read If you've dreamed of retiring early but don't have the financial means to build a massive retirement portfolio, you may be a candidate for the Lean FIRE movement. Instead of building a bigger nest egg to support an expensive lifestyle, Lean FIRE encourages keeping your spending low so you need less to become financially independent. For those willing to embrace a more frugal lifestyle, that could put early retirement within reach sooner. Here's a closer look at how Lean FIRE works and whether it's a realistic goal for you. What is Lean FIRE? Lean FIRE also known as LeanFI is a version of the Financial Independence, Retire Early (FIRE) mov...

U.S. President Donald Trump said he has no regrets about starting the Iran war and added that "If I had it to do again, I would do exactly what I did." Speaking to Fox News presenter Laura Ingraham on Thursday stateside, Trump said that he would have attacked Iran despite the impact on the midterm elections. "If we hadn't done Iran, you would be cruising to midterms victory right now," Ingraham told Trump, to which Trump replied "supposing we were cruising, and all of a sudden Iran has a nuclear weapon. They would use it." He added that if Iran had a nuclear weapon, the Islamic Republic would "wipe out" Israel and the Middle East, and start hitting U.S. cities. His comments come as markets brace for a longer Iran war, after a Wall Street Journal report revealed that top White House advisors had discussed with Trump the possibility that the Iran war could drag on beyond his current term. Trump has said that the war will end immediately after ...

Image source, Molly Haylett Image caption, Molly and Taylor met in their 20s and how they organise money as a couple has changed over time By Yasmin Rufo Business reporter Published 1 hour ago When Molly and Taylor Haylett started their family, they hadn't really planned for what it would mean financially. "Our first child surprised us, so we weren't prepared for it," says Molly, 30, a financial adviser from Essex. Molly and Taylor, who's a train driver, were earning similar amounts, but once Molly spent more time at home with their baby, the balance changed. "Taylor's career propelled and mine took a step back," she says. "There's an unintended impact on the person who spends more time at home with the kids." One of the things the couple decided to do was have Taylor contribute to Molly's pension while she was off work. "We were looking after both our futures, not just Taylor's," Molly says. It is something she think...

Friday's big stock stories: What’s likely to move the market Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching as stocks fell for a fourth day, and what's on the radar for the next session. The 30-year fixed mortgage and the housing stocks The rate on the 30-year fixed mortgage went above 7% on Thursday. As you might expect, the housing stocks didn't react so well. Toll Brothers fell 1.9%. The stock is off 21% from the February high. PulteGroup dropped 2%. Shares are down 19% from the February high. Hovnanian was down 2.6%. The stock is off 30% from the high it reached nearly a year ago. HOV YTD mountain Hovanian shares in 2026 Energy We'll watch oil closely starting at 5 a...

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Newly minted tech millionaires are now clamoring for financial advice Brian Sozzi Executive Editor Wed, September 9, 2026 at 6:57 AM PDT 2 min read SAN FRANCISCO, Calif. Managing newfound tech wealth is not without its challenges and key considerations for the founders and employees who have accrued it. "I think what we're seeing across the board with wealth creation in particular is just the pace of this wealth creation has happened so quickly, and scale is just tremendous," Goldman Sachs partner and San Francisco region head of private wealth management Brittany Boals Moeller told Yahoo Finance at the firm's Communacopia & Tech conference (video above). More from Yahoo Scout What financial planning advice do tech millionaires need? How is AI boom creating unprecedented tech wealth? What challenges do newly wealthy tech employees face? How do equity compensation packages become life-changing windfalls? "We're seeing, as you might imagine, a huge uptick ...

Oracle shares jumped 7% in extended trading on Thursday after the software vendor issued stronger-than-expected quarterly results. Here's how the company performed relative to LSEG consensus: Oracle's revenue grew almost 30% year over year in the fiscal first quarter, which ended on Aug. 31, according to a statement . Net income of $4.68 billion, or $1.56 per share, was up from $2.93 billion, or $1.01 per share, a year ago. Adjusted earnings exclude stock-based compensation expense. For the fiscal second quarter, Oracle called for $1.85 to $1.93 in adjusted earnings per share, with revenue growth between 30% and 34%. Analysts surveyed by LSEG were looking for $1.89 in adjusted earnings per share, with $21.20 billion in revenue, which would indicate 32% growth. For the 2027 fiscal year, Oracle now sees $8.10 in adjusted earnings per share on at least $90 billion in revenue. The LSEG consensus called for $8.07 earnings per share and $89.76 billion in revenue. Guidance on capita...

I Am the House Now : 34 Years Ago, Bessent Helped Soros Break the Bank of England. Now He’s Daring Traders to Bet Against the Yen. AJ Tiarsmith Wed, September 9, 2026 at 2:53 AM PDT 4 min read Quick Read Bessent publicly declared he has "asymmetric information" on yen intervention and dared currency traders to bet against him. A 29-year-old Bessent convinced Soros to short the pound in 1992, earning the firm $1 billion when Britain exited the ERM. USD/JPY dropped from 163 to 154 in two months, with a Bank of Japan rate hike the live test of whether Bessent's dare holds. Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now. The report is free. Enter your email and see if any of your stocks made the cut. Treasury Secretary Scott Bessent walked up to a microphone this week and said something Treasury Secretaries do not usually say out loud. Bessent declared, "I am the house now, so when we intervene with the Japanese...

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Skyworks Solutions Surges 10%, Qorvo Climbs 6% While Chip Stocks Fall: Is the Merger Finally Clearing? David Moadel Thu, September 10, 2026 at 9:47 AM PDT 4 min read SWKS QRVO SOXX AAPL AMZN Quick Read SWKS surged 9% and QRVO gained 6% as CEO Phil Brace confirmed China's SAMR review hit its final phase, targeting a year-end close. SOXX dropped 2% on the same session, isolating the rally as merger-arb repricing, with AAPL the largest customer for both companies post-merger. Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Skyworks Solutions didn't make the cut. Enter your email to see the names that beat SWKS. The report is free. Enter your email and see if any of your stocks made the cut. Shares of Skyworks Solutions ( NASDAQ:SWKS ) are up 10% to $84.24 in Thursday midday trade, while Qorvo ( NASDAQ:QRVO ) stock is climbing 6% to $111.49. The paired rally arrives on a session when the broader chip complex is red, wh...