Economics

18 Jul 2023 – This downturn tells a story of contrasting fortunes between the haves and the have-nots. Private companies, which raced to add rigs as the pandemic waned, have now depleted many of their most lucrative wells, compelling them to decelerate their operations.

18 Jul 2023 – The recent surge in profits for some of the largest banks in the US may have temporarily overshadowed the banking crisis earlier this year.

17 Jul 2023 – Investors in the Australian equity market are gearing up for the upcoming August-23 reporting season, focusing on four key questions that will shape their investment decisions. Amid concerns about a decelerating economy, a strained consumer, and the lagged effects of the Reserve Bank's hiking cycle, market attention will primarily revolve around gauging the extent of the challenges faced by companies.

17 Jul 2023 – In recent times, discussions about an imminent copper shortage have been circulating, fuelled by the growing demand for the red metal in the pursuit of global net-zero emissions. Copper, known for its exceptional conductivity, holds a vital position in various industries, contributing to the enduring strength of its demand.

17 Jul 2023 – In a significant development, the rate of inflation is rapidly declining after more than two years of rising prices. The CPI only rose by 3% in June compared to the previous year, marking its smallest increase since March 2021.

17 Jul 2023 – The UK and EU have initiated a rollback of one of their most prominent financial regulations in an effort to reinvigorate the region's capital markets. However, investors and brokers are cautioning that the move may have come too late and could have limited impact.

17 Jul 2023 – China's announcement of export restrictions on gallium and germanium has thrust these chemicals into the spotlight, highlighting the urgent need for the West to secure critical metals and minerals essential for the green transition and emerging technologies.

17 Jul 2023 – In an unexpected turn of events, the Pentagon's annual funding bill has become the centre of a heated political battle as Republicans have inserted controversial "anti-woke" social provisions into the legislation.

13 Jul 2023 – Elon Musk has made it very clear of his ambition to jump into the field of AI. Now, he has unveiled his latest endeavour: xAI.

13 Jul 2023 – The European Commission (EC) has officially granted its approval for Broadcom's ambitious US$61 billion acquisition of virtualisation software giant VMware, albeit with certain stipulations regarding access and interoperability.

13 Jul 2023 – The International Energy Agency (IEA) has released a report shedding light on the availability of critical minerals needed to support the global energy transition.

12 Jul 2023 – Growing concerns over supply chain vulnerabilities and the need for critical metals and minerals have fuelled increased investment in these resources. Policymakers, investors, and market participants are grappling with the complexities of categorising critical metals, developing policy responses, and navigating economic realities.

12 Jul 2023 – The Western Green Energy Hub, an ambitious energy infrastructure project in Western Australia, has signed a significant deal with Korea Electric Power Corporation, South Korea's largest electricity utility. Spanning 15,000 square kilometres in the Goldfields-Esperance region, this renewable energy hub aims to house around 3,000 wind turbines and 25 million solar panel modules.

11 Jul 2023 – Thames Water investors have agreed to inject £750 million ($1.45 billion) into the company. However, the UK's largest water utility cautioned that it would require additional investments in coming years.

11 Jul 2023 – Meta's new Threads platform, a direct competitor to Twitter, has achieved a remarkable milestone by attracting more than 100 million users in less than five days since its launch. This makes Threads the fastest-growing online platform in history, surpassing the previous record held by OpenAI's ChatGPT, which took two months to reach 100 million users.

11 Jul 2023 – The release of the US Federal Reserve's minutes from the Federal Open Market Committee (FOMC) meeting drew significant attention during the week.

10 Jul 2023 – China's consumer inflation rate remained at zero in June, while factory-gate prices fell further, raising concerns about deflation in the economy.

10 Jul 2023 – Some of the world's largest investment banks have found themselves embroiled in a debate over the inclusion of their underwriting activity in net zero targets, posing a threat to their progress on decarbonisation. As part of a standard-setting group led by Barclays and Morgan Stanley, these banks have been engaged in discussions and voting on how to measure the carbon footprint of underwriting deals. However, infighting and disagreements over the past year have caused delays in the publication of the first voluntary rule book on the matter.

10 Jul 2023 – Australia is poised to become a key player in the global green transition. With its abundant natural resources and strategic position in the mining sector, Australia has the potential to drive the shift towards a sustainable future.

07 Jul 2023 – Private sector companies added a robust 497,000 jobs in June. Economists had predicted a gain of around 220,000 jobs.

07 Jul 2023 – The World Gold Council expects the yellow metal to hold firm over the rest of 2023, despite some price weakness in the past month.

06 Jul 2023 – In the face of speculation about tensions between Saudi Arabia and oil ally Russia, Saudi Energy Minister Prince Abdulaziz bin Salman categorically dismissed such talk and instead praised the coordinated efforts of both nations to remove barrels from the market.