Economics

This week, several major companies, including tech giants Apple and Amazon, along with coffee giant Starbucks, are set to report their earnings, providing insights into consumer spending habits amidst easing inflation and rising interest rates.

China’s economy will need more than last week’s lacklustre collection of policy thought bubbles if it is to arrest the slump in activity that continued for a fourth successive month in July.

July saw US energy firms again cut the number of active oil rigs in use for an eighth straight month while they added new natural gas rigs for the first time in three months.

Russia's decision to withdraw from a deal allowing Ukrainian grain to be exported globally is a high-stakes gamble by President Vladimir Putin that risks straining diplomatic relations with two of Russia's influential partners, China and Turkey.

The Fed and the European Central Bank have both raised their key rates by 0.25% this week, and on Friday, the Bank of Japan revealed greater flexibility in its yield control policy that could result in market rates rising, but not its key policy rate, which remains at -0.1%.

Brazilian iron ore giant, miner Vale SA, has confirmed the negative impact of weak demand and pricing in the three months to June with a 78.2% slump in net earnings for the period.

Japan and South Korea have rejected US overtures to join the proposed $44 billion Alaska natural-gas project, which could be one of the most significant energy investments in American history.

A significant commercial-scale green hydrogen project in Western Australia has been scrapped by Canadian infrastructure player ATCO, despite receiving funding support from the Australian government's renewables arm.

Mergers typically result in larger combined entities, but a recent bank deal is bucking the trend by pursuing a different path — one that could potentially unlock more lender mergers in the future.

Meta platforms has surpassed analysts' expectations for second-quarter sales and provided a positive outlook for the current period, propelling its shares to climb 4.5 percent in after-hours trading.

A 22-year high for US interest rates was reached thanks to the latest decision from the Fed, yet markets continued unaffected, and the Dow ended higher for yet another session.

X Corp is making strategic moves to lure brands back to its social media platform under the ownership of Elon Musk, and one of its key tactics is offering substantial discounts on ad prices.

The upcoming week holds significant importance for global stocks, as companies with a combined market value of $US27 trillion (A$40 trillion) prepare to announce their quarterly earnings.

Last week, a surge of FOMO among IPO investors was evident as Oddity Tech, the parent company of direct-to-consumer beauty brand Il Makiage, staged an immensely successful stock-market debut.

Microsoft is set to slash approximately 50 positions in Australia as part of its latest round of redundancies, a move that follows the elimination of over 10,000 jobs earlier this year.

24 Jul 2023 – Moderna is setting its sights on a groundbreaking "superjab" that could protect against the most prevalent respiratory viruses, including Covid-19, influenza (flu), and respiratory syncytial virus (RSV).

24 Jul 2023 – The rising trend of remote work is reshaping the landscape of Australian office spaces, as corporates grapple with the question of how much real estate they truly need in a work-from-home world. This paradigm shift is contributing to a surge in office vacancies, leaving landlords under increasing pressure.

24 Jul 2023 – In the ongoing economic battle between Russia and the West, Moscow has managed to breach the Western-imposed price cap on its most prized crude oil, signalling a significant victory for the Kremlin.

24 Jul 2023 – Many investors entered the second-quarter earnings season expecting the worst for regional banks. But that didn’t materialise in the results released this week—at least not for the bigger players.

21 Jul 2023 – Japan's consumer prices showed signs of picking up pace in June, indicating persistent inflationary pressures as the country's central bank gears up for its policy meeting next week.

21 Jul 2023 – Prominent electric vehicle charging company based in Brisbane, EVOS Energy, has generated significant buzz in the market with a game-changing partnership. The company recently inked a major deal with fuel giant Ampol, marking a pivotal step in the transition towards electric mobility in Australia. As traditional fuel companies, like Ampol, set their sights on a future driven by electric power rather than petrol, this collaboration demonstrates the growing significance of EV charging infrastructure in the automotive landscape.

21 Jul 2023 – Australia's historically low unemployment rate, touted as one of outgoing Reserve Bank of Australia governor Philip Lowe's notable achievements, could present challenges for his successor, Michele Bullock.

20 Jul 2023 – New South Wales and Victoria have emphasised the need for immediate investment in developing new zero-emission generation to achieve ambitious renewable energy targets. State energy ministers warn of potential challenges in transitioning without sufficient infrastructure, leading to higher electricity prices if the retirement of coal, the country's dominant power source, outpaces renewable energy development.

20 Jul 2023 – Saudi Arabia is poised to lose its position as the top oil producer in the OPEC+ alliance, according to the International Energy Agency (IEA).

19 Jul 2023 – Retail sales in the United States increased for the third consecutive month in June, signalling consumers' ongoing resilience amidst easing inflation and a robust labour market.

19 Jul 2023 – Europe's ongoing heatwave is fuelling a surge in solar electricity production across the continent, with the combination of increased solar capacity and sunny weather breaking generation records in several countries.