The price of Bitcoin and other cryptocurrencies has fallen dramatically in recent months. Still, many investors are excited about the future of digital currencies despite the risks. VOA’s Michelle Quinn…
more ...China’s Factory Activity Contracts Unexpectedly in July as COVID Flares Up
China’s factory activity contracted unexpectedly in July after bouncing back from COVID-19 lockdowns the month before, as fresh virus flare-ups and a darkening global outlook weighed on demand, a survey…
more ...More Americans Struggling to Find Affordable Housing
Danira Ford is a lifelong resident of New Orleans, Louisiana. Like tens of thousands of the city’s inhabitants, she has struggled to find an affordable place to live for her…
more ...Pakistan Army Chief Reportedly Seeking US Help in Securing Crucial IMF Loan
Pakistan’s military chief has reportedly sought help from the United Sates in securing the early disbursement of an International Monetary Fund loan as the high price of energy imports pushes…
more ...US, Japan to Set Up Research Center for Next Semiconductors
The United States and Japan launched a new high-level economic dialogue Friday aimed at pushing back against China and countering the disruption caused by Russia’s invasion of Ukraine. The two…
more ...Record EU Inflation Expected; Economy Continues to Grow
The European Union’s statistical office, Eurostat, on Friday estimated inflation is expected to reach a record 8.9% in July, while the Eurozone and EU economy overall continued to grow during…
more ...Congress OKs Bill to Aid Computer Chip Firms, Counter China
The House on Thursday passed a $280 billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and…
more ...US Probes Cyber Breach of Federal Court Records System
The U.S. Justice Department is investigating a cyber breach involving the federal court records management system, the department’s top national security attorney told lawmakers Thursday. Matt Olsen, head of the…
more ...Biden Administration Rejects Recession Label for Economy
The U.S. president and members of his administration are avoiding the “R word” – recession – despite the assertion by opposition party politicians and some economists that the country’s economy…
more ...US Failure to Implement Global Minimum Tax Could Be Costly
A breakthrough agreement announced by Senate Democrats on Wednesday, which would dedicate hundreds of billions of dollars to addressing climate change and other Democratic priorities, is designed to raise federal…
more ...US Economy Shrinks for Second Straight Quarter
The U.S. economy shrank for a second straight quarter from April to June, dropping at an annual pace of nine-tenths of a percentage point and by one common measurement pushing…
more ...China to Aid Developers as Homebuyers Boycott Mortgages
Chinese authorities are promising to establish an initial rescue fund of $11.8 billion (80 billion yuan) to offset a looming crisis in the real estate sector, where homebuyers routinely purchase…
more ...Twitter Accepts Oct. 17 Trial but Is Concerned Musk Will Try to Delay
Twitter Inc. does not object to Elon Musk’s proposal to start a trial on October 17 over Musk’s bid to walk away from his $44 billion acquisition deal but the…
more ...Meta Posts First Revenue Drop as Inflation Throttles Ad Sales
Meta Platforms Inc. issued a gloomy forecast after recording its first ever quarterly drop in revenue Wednesday, with recession fears and competitive pressures weighing on its digital ads sales. Shares…
more ...US Senate Advances Bill to Boost Microchip Production
The U.S. Senate has passed a $280 billion initiative that would boost domestic production of microchips and provide support for a key industry that competes with overseas countries including China.…
more ...US Central Bank Expected to Raise Interest Rates
The U.S. Federal Reserve is expected to impose a second major interest rate increase Wednesday in an effort to combat soaring inflation. Observers say the central bank will likely announce…
more ...What’s Next for China’s Economy?
Two decades ago, China’s factory-driven economy awed the world as it expanded at more than 10% per year. But the country has missed double-digit growth over the past decade. The…
more ...US Senate Votes to Advance Sweeping Semiconductor Industry Bill
The U.S. Senate voted 64-32 on Tuesday to advance legislation to dramatically boost U.S. semiconductor manufacturing in a bid to make the domestic industry more competitive with China. The legislation…
more ...IMF Paints Gloomy World Economic Outlook
World economic growth is slowing and the prospects for a quick recovery are gloomy, the International Monetary Fund said Tuesday. The IMF said it expects growth to slow from last…
more ...Zimbabwe Introduces Gold Coins in Hopes of Reducing Demand for US Dollars
Zimbabwe’s central bank has introduced gold coins that it hopes will ease citizens’ demands for foreign currency. But economists and ordinary Zimbabweans are skeptical. At the official launch of the…
more ...Germany on Cusp of Recession, says Ifo, as Business Sentiment Sinks
German business morale fell more than expected in July, the Ifo business sentiment survey showed on Monday, as the institute that compiles it said high energy prices and looming gas…
more ...Semiconductor Bill Unites US Politicians From Left, Right — in Opposition
A bill to boost semiconductor production in the United States has managed to do nearly the unthinkable — unite the democratic socialist Sen. Bernie Sanders and the fiscally conservative right.…
more ...US Treasury Chief Downplays Recession as Wave of Economic Data Looms
Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. Yellen spoke on NBC’s…
more ...Arrests as Madagascar Opposition Protest Living Costs
Police in Madagascar detained two leading members of the main opposition party on Saturday during a protest in the capital against rising living costs and economic hardship. Several hundred anti-government…
more ...‘Day by Day’: Trade Bans, Inflation Send Food Prices Soaring
As inflation surges around the world, politicians are scrambling for ways to keep food affordable as people increasingly protest the soaring cost of living. One knee-jerk response has been food…
more ...How China Became Ground Zero for the Auto Chip Shortage
From his small office in Singapore, Kelvin Pang is ready to wager a $23 million payday that the worst of the chip shortage is not over for automakers – at…
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