economic news

Biden’s IRA left Europe blind. And playing catch-up could lead to 2 big mistakes

US President Joe Biden, front, and Ursula von der Leyen, President of the European Commission. Bloomberg | Bloomberg | Getty Images The European Union is working against time to create a program that can compete with President Joe Biden’s unprecedented climate subsidies. But he will face two key problems in the process. The EU had …

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Bitcoin pauses as crypto traders await Fed decision. Prepare for volatility.

Bitcoin and other cryptocurrencies were paused on Wednesday as traders awaited a key interest rate decision from the Federal Reserve. After the best January for Bitcoin in a decade, bad news from the central bank has the potential to start February on a bad note. The price of Bitcoin has risen less than 1% in …

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Gold demand hits 11-year high on ‘colossal’ central bank buying

Bars of 99.99% pure gold are placed in a work room at the Krastsvetmet precious metals factory in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Alexander Manzyuk | Reuters Gold demand hit an 11-year high in 2022 thanks to “colossal central bank buying, aided by vigorous buying by retail investors,” according to the …

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Central banks set to signal path of sliding interest rates in crucial week

A screen displays the Fed’s rate announcement as a trader works on the floor of the New York Stock Exchange (NYSE), November 2, 2022. Brendan McDermid | Reuters The US Federal Reserve, European Central Bank and Bank of England are all expected to raise interest rates again this week as they make their first policy …

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Stock futures fall as traders await latest Federal Reserve rate hike decision

Traders on the NYSE floor Source: NYSE Stock futures fell Tuesday night as investors anticipated Wednesday’s Federal Reserve meeting. Futures contracts linked to the Dow Jones Industrial Average lost 48 points or 0.14%. S&P 500 futures and Nasdaq Composite futures were down 0.20% and 0.37%, respectively. The moves come after stocks surged to end January …

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Amazon layoffs hit workers in robotics, grocery, healthcare and AWS units

Amazon’s corporate headquarters sits virtually empty on March 10, 2020 in downtown Seattle, Washington. In response to the coronavirus outbreak, Amazon has recommended that all employees in its Seattle office work from home, leaving much of downtown nearly empty of people. John Moore | Getty Images from Amazon More than 18,000 job cuts announced this …

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