Chinese firms are playing an increasingly critical role in supplementing Russia’s struggling economy and boosting its military capabilities, including via the trade of goods for use on the battlefield in Ukraine, new analysis by CNBC shows. Russian customs data filed as recently as August 2023 point to the continued import of drones, helmets, vests and … Read more
A Swiss National Bank logo is pictured on the SNB building in Bern, Switzerland May 20, 2020. Arnd Wiegmann | Reuters The Swiss National Bank ended its streak of five consecutive increases, keeping interest rates unchanged at its quarterly monetary policy meeting on Thursday. The bank, which began lifting rates out of negative territory in … Read more
A shopper browses fruit and vegetables for sale at an indoor market in Sheffield, UK. The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year. Bloomberg | Bloomberg | Getty Images U.K. inflation came in at 6.7% in August, below expectations and down slightly from the previous … Read more
The U.S. Department of the Treasury building is seen in Washington, D.C., Jan. 19, 2023. Saul Loeb | Afp | Getty Images WASHINGTON — The national debt of the U.S. reached a historic milestone by passing $33 trillion for the first time, less than two weeks before the federal government faces a potential shutdown over … Read more
The auto workers’ strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist. So far, the United Auto Workers stoppage has impacted just a small portion of the workforce with limited implications for the broader economy. But it is part of a pattern … Read more
An American Airlines 787 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC More companies are warning that a surge in the cost of fuel and employee pay hikes will eat into profits this quarter. Companies from aerospace manufacturers to package delivery giant UPS are digesting big new labor deals. Meanwhile, unions from the … Read more
In addition to making everyone an epidemiologist, the Covid-19 pandemic schooled the public on the world-spanning network of manufacturers, assemblers, and shippers behind just about every consumer good that arrives on your doorstep. Or driveway. Car prices soared as automakers struggled with a supply chain jammed up by worker shortages, chip shortages, and shipping delays. … Read more
Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Milken Institute Conference Bloomberg | Bloomberg | Getty Images As concerns mount over rising interest rates and inflation levels, billionaire investor Ray Dalio says he prefers to hold cash for now, not bonds. “I don’t want to own debt, you know, bonds and … Read more
France’s radiation watchdog has banned sales of Apple iPhone 12 after tests that it said showed the smartphone breached European radiation exposure limits. The Agence Nationale des Frequences (ANFR) said on Tuesday the model’s Specific Absorption Rate (SAR) – a measure of the rate of radiofrequency energy absorbed by the body from a piece of … Read more
