The Global Economic News

Add the possibility of fewer meetings into the mix of how Federal Reserve Chairman Kevin Warsh wants to reduce the central bank's footprint on financial markets, a move that some experts say could introduce both volatility and opportunity for investors. Since taking office in May, Warsh has implemented several measures that reverse decades of Fed culture in which policymakers have been aggressively transparent some say overly so about where they think monetary policy is headed. Thus far, he has curtailed so-called forward guidance, or how the Fed signals its future rate moves, dramatically shortened the postmeeting statement and provided cryptic and often evasive answers when questioned about his views during the two news conferences he's held so far. Now comes the possibility, discussed in what one Fed source described as mostly hypothetical terms, of reducing the long-held schedule of eight meetings each year for the rate-setting Federal Open Market Committee. Such a move w...

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 . Will the housing market crash in 2026? What the second half of the year looks like Michele Lerner E. Napoletano Contributor Hal Bundrick, CFP Senior Writer Tue, August 4, 2026 at 5:08 AM PDT 8 min read A housing market crash happens when home values plummet due to a lack of demand for or an oversupply of homes. The factors leading to a housing market crash are varied, ranging from economic recessions to high mortgage rates that make it less affordable to buy a home. A housing crash can have upsides (low home prices) and downsides (losing built-up equity and tighter finances). So, what's ahead for the housing market in 2026 ? Read more: Want to buy a house in 2026? Here's what you need to know. Is the housing market going to crash soon? Generally, experts don't foresee a housing market crash in 2026. If anythi...

Image source, Getty Images By Yasmin Rufo Business reporter Published 28 minutes ago Yet another summer heatwave could be on the way to make your commute sweaty and your workplace stuffy. What to wear to work in the summer can be a surprisingly difficult decision. Shorts, strappy tops and sandals may keep you cool - but will they be judged too casual, revealing or unprofessional? There's a bare-legged backlash in Tokyo where officials encouraged men to swap suits for shorts at work , prompting complaints about hairy legs in the office. So what is acceptable to wear to work, how can you successfully style your summer wardrobe and can your boss tell you what you can and can't wear? What information do we collect from this quiz? Shorts To play this video you need to enable JavaScript in your browser. This video can not be played Figure caption, Should men be allowed to wear shorts in the office? Conor, who works in media, has regularly worn shorts to the office during the recent...

Image source, Reuters Image caption, The ministry did not release any specific details on the proposed route By Sofia Ferreira Santos Published 5 August 2026, 21:51 BST Updated 1 hour ago Iran says it has reached an agreement with Oman on a route for shipping through the Strait of Hormuz. Foreign ministry spokesman Esmaeil Baqaei did not give any further details on the agreement, which he said was "in the final stages". Baqaei warned however that a deal with Oman would not guarantee safe navigation through the strait on its own, arguing that security remains impacted by the US blockade of Iran's ports. The US and Oman have not commented on the proposal. Since the US and Israel attacked Iran in late February, Tehran has largely blocked the Strait of Hormuz through which about a fifth of the world's oil and liquefied natural gas usually passes. Since then, global oil prices have fluctuated wildly. On Tuesday, US President Donald Trump warned that Iran would be "hi...

Federal Reserve Governor Lisa Cook said Wednesday that she's ready to support an interest rate hike unless the inflation numbers improve. "Inflation is too high, and I consider the risks to the inflation side of the dual mandate higher than the risks to the employment side at this point," Cook said during a speech in Anchorage, Alaska. "As such, I am prepared to act by raising rates, if necessary." While acknowledging that the June data showed inflation easing thanks largely to a sharp slide in energy prices, the policymaker said there shouldn't be too much read into a single data point, particularly with the pace of price increases running well ahead of the Fed's 2% goal. Cook was part of a 9-3 majority that voted last week to keep the central bank's benchmark borrowing rate in a range between 3.5%-3.75%. She explained that her vote came from a desire to see how possibly waning impacts from tariffs, an energy supply shock due to the Iran war and pr...

Islamic republic is determined to retain a degree of control over the chokepoint 🔥 EXCLUSIVE PARTNER OFFER RetroScaler2x AV to HDMI® Converter and Line-doubler For Retro Game Consoles PS2 N64 NES Dreamcast Saturn MD1 MD2 Special Price 🎁 Special promotion! Perfect gift idea at an unbeatable price. Shop now! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/e0b10cad-3e46-4a6d-9227-eba6fe11c676?syn-25a6b1a6=1 © EcoNews DZ — Global Economic & Financial News

Google's AI divisions are getting reshuffled, the search giant announced on Wednesday, with chief scientist Jeff Dean leaving the company after 27 years. Demis Hassabis, the CEO of Google DeepMind, is moving into a chairman role of that unit and also assuming the title chief scientist of parent company Alphabet, according to a memo from CEO Sundar Pichai that was posted to Google's blog. Alphabet shares fell about 4% after the announcement. Dean, a pioneer in artificial intelligence who's been credited with some of Google's most important technical breakthroughs, is starting his own company along with Google senior fellow Sanjay Ghemawat, the post said. The departure is on friendly terms, and Google will invest in his startup, a representative said. "After an incredible 27-year run, Jeff Dean is at a moment where he wants to try something new, and we're excited to support him in that," Pichai said in the post. He added that Dean and Ghemawat will be worki...

Bank of America CEO Brian Moynihan on Wednesday called the recent near collapse of high-flying AI hedge fund Situational Awareness a warning shot for financial markets that are being fueled by elevated valuations and borrowed money. Situational Awareness, led by Leopold Aschenbrenner , was forced to offload most of its public equities to Citadel last week in a fire sale as its bets on artificial intelligence soured. Bank of America was among the firm's prime brokers, executing trades and providing leverage to the fund, along with Goldman Sachs and JPMorgan Chase . "These are all warning shots," Moynihan told CNBC's Andrew Ross Sorkin. "Valuations get out, leverage in the system gets there. You have to be careful." Moynihan's comments suggest Wall Street's largest prime brokers are reexamining their exposure to highly leveraged investment firms as the AI trade has fueled surging markets, even as they continue competing aggressively to finance hedge f...

'This was not an exceptional result': Why AMD stock tanked 5% after earnings Ines Ferré Senior Business Reporter Wed, August 5, 2026 at 10:25 AM PDT 2 min read AMD What happened: Advanced Micro Devices ( AMD ) dropped 5% on Wednesday. What's behind the move: The chipmaker reported record revenue and second quarter earnings on Tuesday, beating Wall Street expectations on both top and bottom lines. However, the company's results and forecast failed to impress investors looking for bigger beats. "It was priced for something much closer to a blowout," Shay Boloor, Futurum chief market strategist, told Yahoo Finance after the earnings report. "It was priced for an exceptional result, and this was not an exceptional result." AMD reported revenue of $11.54 billion, up 50% from $7.69 billion a year prior, topping Wall Street expectations. Adjusted earnings per share came in at $1.66 against the $1.62 expected. Wall Street even expected booming growth in dat...

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The Trump administration said it has refunded about $100 billion of the tariff revenue that was collected before President Donald Trump 's " liberation day " duties were struck down by the Supreme Court . The figure, reported Tuesday in a filing in the U.S. Court of International Trade, represents about 60% of the roughly $166 billion the government says it raked in from the sweeping tariffs Trump imposed in 2025 using the International Emergency Economic Powers Act, or IEEPA . Those tariffs were scrapped in late February after the high court ruled IEEPA did not authorize them. About two weeks later, federal Judge Richard Eaton ordered that tariffs collected under IEEPA must be refunded to the importers. Trump, who placed heavy-handed tariffs at the center of his economic and foreign policy agendas, has vented his rage over the court rulings, and his administration has recently taken a series of steps to effectively re-create the IEEPA tariff regime using other legal aut...

Bank of America spends more than $250 million a year covering GLP-1 weight loss drugs for its employees, CEO Brian Moynihan told CNBC on Wednesday, saying the rapidly rising cost is a worthwhile investment in his workforce. The company sets aside more than $2 billion a year on healthcare overall for BofA's roughly 211,000 employees, meaning that GLP-1 medications alone now account for roughly 13% of all healthcare spending, per figures provided by Moynihan. "We spend about $250 million or more on GLPs, and that's up from zero" four or five years ago, Moynihan told CNBC's Andrew Ross Sorkin. "We see a great impact on the employees." Employers across the country have grappled with soaring demand for GLP-1 drugs such as Ozempic and Wegovy, which can cost thousands of dollars per patient annually. Many self-insured companies and public employers have restricted coverage or debated whether they can afford the treatments as utilization has climbed. Moynihan a...

Image source, Getty Images Image caption, Companies bidding for public contracts will have to show how they will create regional jobs By Emer Moreau Business reporter Published 3 hours ago Andy Burnham will tell firms bidding for public contracts to prove they are creating jobs rather than meeting green and social targets in a bid to get more people into work. The prime minister will overhaul the 90bn public procurement system so bidders have to show they are supporting young people into work and addressing local skills shortages. It comes as the government seeks to tackle the youth unemployment crisis , with Burnham saying he wants to create "growth in every postcode". But green groups criticised the plans, arguing supporting young people into work should not come at the expense of the environment. Companies bidding for government contracts are judged on a range of measures, including value for money and the extent to which they bring benefits to the local community. Under ...

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Stocks making the biggest moves premarket: SPCX, AMD, LLY, DIS & more Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: SpaceX The Elon Musk-led rocket company fell 11% after releasing its first quarterly report since going public in June . SpaceX reported capital expenditures of $18.37 billion in the second quarter, largely driven by artificial intelligence and up 550% from the year-ago period. Second-quarter revenue came in at $7.81 billion, topping an LSEG consensus of $6.93 billion. It also lost 9 cents per share, though it wasn't clear if that was comparable to an estimate of a 26 cent-per-share loss. Disney The stock was up by more than 3%, despite the media giant reporting a mixed fiscal third quarter . While earnings per share came in above expectations, revenue missed slightly. Revenue for the company's experiences business, which incl...

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Covered Call ETFs Explained: How That 8% Yield Actually Works (and What You Give Up) ETF.com Staff Mon, August 3, 2026 at 4:21 PM PDT 9 min read ^GSPC QYLD JEPQ XYLD SPYI ETF Investing Tools What Is a Covered Call ETF? A covered call ETF is a fund that owns a portfolio of stocks often an index like the S&P 500 or Nasdaq-100 and simultaneously sells (or "writes") call options either on those individual holdings or on the index itself against that portfolio. The premiums it collects from selling those options are passed through to shareholders as income, typically paid monthly. That option income is what powers the eye-catching yields these funds advertise. The strategy is called covered because the fund actually owns the underlying stocks it's writing options against as opposed to a naked call, where the seller doesn't own the shares. Owning the stock covers the obligation, capping the risk of the options position itself. How Does a Covered Call Actually Generate ...

Image source, Reuters By Michael Race Business reporter , Reporting from New York Published 4 August 2026 Updated 5 hours ago Donald Trump said the Strait of Hormuz would open "very soon" or Iran would be "hit very hard" as oil prices fell to a three-week low amid hopes of a deal. The US president was speaking to Fox News after Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both said talks had progressed to allow shipments potentially to resume later this week. On Tuesday, the cost of a barrel of Brent crude, the global benchmark for oil prices, fell by almost 5% to under $80 ( 60) on the news of supply disruptions potentially being eased. It continued to move lower on Wednesday - down about 0.7% in Asian trading. But the failure of previous talks in recent months to de-escalate the conflict has led to a volatile oil market, with motorists ultimately being hit by higher fuel prices. "We're having very good discussions," Trump said...