The Global Economic News

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Federal Reserve Chairman Kevin Warsh on Thursday released names of the experts who will comprise five task forces to examine the institution's operations a list that includes several prominent Wall Street names, business leaders and a wide expanse of academicians and former Fed officials. Warsh first disclosed his intention to create the task forces last month, saying they would tackle communications, data, the Fed's balance sheet, data, productivity and jobs and the framework for how the policymakers view inflation. The group's will tackle everything from inflation to artificial intelligence as part of Warsh's promised review of monetary policy. Among the prominent names involved are venture capitalist Marc Andreessen , former Bank of England Governor Mervin King, and Greg Mankiw, former chairman of the White House's Council of Economic Advisers. Doug McMillon, the former CEO of Walmart, leads the names of business executives involved. Several of the names, in...

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President Donald Trump touted that he's "number one" on TikTok multiple times this week. "The new numbers just came out," Trump told reporters at the White House Monday. "You know who the number one person on TikTok is by far? Trump. Me," he said. The president added that he surpassed Taylor Swift, who he said was "number 11" on the social media app. As of July 9, Trump has 16.7 million followers on TikTok. Taylor Swift has a little over double Trump's TikTok following, sitting at 33.5 million followers as of July 9. The most followed person on the app is Khabane Lame, a Senegalese influencer known for his comedic skits. Lame has 162.3 million followers on the video-sharing platform. That's nearly 10 times Trump's following. After Lame, the second most followed person on TikTok is 22-year-old Charli D'Amelio who rose to fame in late 2019 after her dance videos started going viral. She has 159.2 million followers. "I was ...

To play this video you need to enable JavaScript in your browser. This video can not be played Figure caption, Why the UK's biggest bank boss has a problem with influencers By Yasmin Rufo Business reporter Published 9 July 2026, 00:10 BST Charlie Nunn is CEO of Lloyds Banking Group - the UK's biggest bank providing one in four current accounts - meaning he has a deep insight into customers' spending, saving and borrowing. Here are his top tips on how to manage your money from saving to avoiding scams. 1. Automate your savings Nunn says the key to building up savings is to automate putting money aside. This means regular saving will stop being a decision or action you have to keep taking - and putting off. "If you're able to carve out a little bit and put it somewhere else where you won't have access to it and be able to spend it, I think that's the easiest way to start having a saving mindset," he says. That could mean setting up a standing order from...

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U.S. investors are getting a new way to buy into the memory boom. SK Hynix , the second most valuable company in South Korea, behind only Samsung, is slated to begin trading on the Nasdaq on Friday. The market debut, coinciding with the company's hefty expansion plans for the U.S., comes after a more than sevenfold increase in its stock price over the past year, a rally that's lifted SK Hynix's market cap to about $1 trillion. Many Americans don't know the name SK Hynix, but they've likely had plenty of exposure to the company's products. Along with Micron and Samsung, SK Hynix is one of three primary makers of computer memory used in laptops and phones sold by companies such as Apple and Dell . Memory has long occupied a sleepy corner of the semiconductor market. That's changed dramatically over the last couple years as surging demand for artificial intelligence has upended the industry, creating severe shortages for the chips and sending prices to a...

U.S. President Donald Trump said Wednesday evening that he does not know whether Washington and Iran are returning to a full-fledged war, but told reporters that Iran "badly" wants to make a deal to cease escalating hostilities in the Middle East. Trump flew back to Washington, DC, via the U.K. on Wednesday. Speaking to reporters on board Air Force One as he departed the U.K.'s Mildenhall Air Force Base, the president said American forces had "just hit [Iran] very hard." "I say we hit them 20 to 1 every time they hit us, we're going to hit them 20, and we did it last night," he said. "They did a little something today, but it was really retribution for last night when they hit, we hit back much harder." When asked whether the U.S. and Iran are returning to full-scale military conflict, Trump responded: "I don't know," before adding that if the war resumed the U.S. would "win it very quickly." "We have many wa...

By Theo Leggett Business correspondent Published 9 July 2026, 00:09 BST It's hot and bright beneath the high intensity lights in a cavernous crash and safety testing laboratory, hidden away in a business park outside Newbury. A siren blares and a disembodied voice counts down: "Three, two, one." A small white car trundles into view, rolls across the floor, and bumps into a barrier set against the wall. As crash tests go, this one is hardly spectacular. There is no torn metal or flying glass. At just 6mph, it replicates the kind of annoying prang you might well get in a car park or at a traffic light. But raise the slightly bent bonnet to look underneath, and it's a different story. This is an electric vehicle (EV) a Dacia Spring and the hidden damage is significant. As senior test engineer Sean Hoad points out, the high-voltage charging port, mounted at the front of the car is badly broken, as are components it's attached to. "This is all one big unit, meani...

South Korea's stock benchmark, Kospi , has gone from being the world's hottest equity market to entering bear territory within a few weeks, highlighting how investors have soured on artificial intelligence plays and underscoring concentration risks. The Kospi fell more than 5% on Wednesday, which brought it 20% below its June 19 record high, according to LSEG data. It closed slightly higher on Thursday in choppy trading. "South Korea's recent drawdown has been driven by heightened AI skepticism on the part of global investors, coupled with extreme market concentration," said Manishi Raychaudhuri, CEO of Emmer Capital. The speed of the reversal brings to light a central feature of this year's rally: South Korea's outsized dependence on the AI trade. Chipmakers Samsung Electronics and SK Hynix accounted for more than half of the Kospi's weighting as of June, data provided by Emmer Capital showed. That extreme reliance has both lifted and sunk the index....

Divided Federal Reserve officials indicated at their last meeting that they will address persistent inflation this year with one interest rate hike. History, though, suggests that policymakers will have a hard time stopping there. In fact, there have been few instances over the past 35 years or so when the Fed has only made one rate move, be it up or down. Rather, the central bank's Federal Open Market Committee tends to move in rate cycles, where it adjusts policy multiple times over a period to meet whatever goal it seeks to accomplish. "A lot of people are talking about one rate increase. The committee does not generally do that. I mean, what's the point of that?" former St. Louis Fed President Jim Bullard told CNBC on Monday. "So, usually it means a tightening cycle, and I think markets are trying to sniff that out right now." Markets will get more clues Wednesday about the Fed's policy direction when the committee releases minutes from its June 16-...

Stocks making the biggest moves premarket: UAL, MU, CVX Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Energy stocks Shares of energy companies were boosted as U.S. oil prices surged after President Donald Trump said the ceasefire with Iran is over. Diamondback Energy jumped more than 3%. APA Corporation and Occidental Petroleum were rising more than 2.5%. Chevron was up more than 2% in premarket trading, while Exxon Mobil rose 1.5%. Cruise lines, airlines Meanwhile, companies that are exposed heavily to fuel prices fell as oil rose. Carnival Corporation was off 3.5%, while Norwegian Cruise Line tumbled 3%. United Airlines also fell 3%, while Delta Air Lines declined nearly 2%. SpaceX The stock bucked the sell-off trend in premarket trading on Wednesday as it rose just under 0.5%, rebounding slightly from it's more than 6.5% decline on Tuesday. SpaceX at Tuesday...

Ukraine's drone attacks have been dominating headlines about its war with Russia and upended NATO's investment thesis. Having boosted drone production and capabilities in four years of war, Ukraine has stepped up its attacks on Russian energy infrastructure and military assets, targeting high-profile oil refineries in major cities as part of a sustained push to cut off Russia's energy revenues . Defense experts and strategists have described its drone campaign as pivotal in helping to stall Russia's military momentum, while also warning that Kyiv's deep-strike successes have drastically raised the risk of escalation. Earlier this week, Ukraine marked what appeared to be one of the country's deepest attacks on Russian territory in the war so far. Plumes of black smoke were seen billowing from a key oil refinery in the city of Omsk on Tuesday, prompting Ukrainian President Volodymyr Zelenskyy to declare that the country's upgraded drone capabilities hav...

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Rivian Learns the Power of the Hot Stock Force: Selling It Thornton McEnery Tue, July 7, 2026 at 10:02 AM PDT 2 min read RIVN NVDA TSLA UBER Rivian Learns the Power of the Hot Stock Force: Selling It - Moby BREAKING NEWS Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Congratulations to Rivian, which on Tuesday experienced its first genuine public Tesla moment, and we don't mean full self-driving. The EV maker's shares plunged more than 10% in early trading after it announced a public offering of 75 million Class A shares, worth roughly $1.51 billion at Monday's close of $20.14. The timing was, let's say, seasoned. Rivian stock had climbed 19% last week, then tacked on another 8.1% Monday, at which point management looked at the rally, looked at the checkbook, and decided the shareholders wouldn't mind chipping in. This is a rite of passage. Rivian has p...

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