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On Thursday, the Bank of England announced its decision to keep its main interest rate unchanged at 5.25%, maintaining it at a 16-year high. This move diverges from recent actions taken by other central banks, such as the Swiss National Bank's surprising quarter-point rate cut, marking a distinct approach amidst global economic uncertainty. The dec…

In a remarkable debut on Thursday, Reddit, the popular online forum platform, saw its shares soar by a staggering 48% during its initial public offering Reddit IPO . This marks the first major IPO for a social media company since Pinterest's debut in 2019. The 19-year-old website, known for hosting diverse online forums, set its IPO price at $34 pe…

At a recent press conference, US Attorney General Merrick Garland took a pointed stance against tech giant Apple, citing its alleged abuse of monopoly power in the smartphone market. This move follows a historic antitrust Apple lawsuit filed jointly by the Biden administration and 16 states, targeting Apple's purported manipulation of the iPhone's…

Iowa Construction Employment has reached unprecedented heights, with employment hitting the highest level in over three decades. According to the latest monthly report released by the Iowa Workforce Development, the construction sector employed 85,200 workers in January, marking an increase of 600 from December and a substantial rise of 2,700 from …

Less than a year since its inception, the allure of the "Magnificent Seven" appears to be waning among stock market enthusiasts. The once highly regarded group of megacap stocks, comprising Nvidia, Meta Platforms, Amazon, Microsoft, Alphabet, Tesla, and Apple, is facing growing scrutiny due to disparities in returns among its members. Nvidia, for i…

In a remarkable turn of events, the United States has witnessed a swift decline in its unemployment rate, which plummeted from a staggering 15% at the peak of the pandemic to consistently below 4% for nearly a year. Contrasting this achievement with historical data reveals a stark difference in policy response, particularly in the aftermath of econ…

In a significant development, Somalia has successfully negotiated the cancellation of a staggering 99% of its debt owed to members of the Paris Club of creditor nations. This milestone Debt Relief , announced on Wednesday by the Paris Club, marks a crucial step forward for Somalia as it endeavors to reintegrate into the international financial sys…

Bitcoin's bullish momentum, driven in part by the fervent demand for crypto exchange-traded funds (ETFs), faces a notable challenge as economic Data indicators point to persistent inflationary pressures. Thursday's release of the Producer Price Index (PPI) for February provided yet another indication of inflation surpassing expectations. The gover…

United States President Joe Biden has taken a firm stance against the proposed sale of a prominent Pittsburgh-based steel manufacturer to Nippon Steel, Japan's largest steel producer. Emphasizing the importance of maintaining "strong American steel companies powered by American steelworkers," Biden's opposition echoes sentiments expressed earlier b…

In a notable rebound from January's decline, retail spending in the United States showed promising growth last month, primarily fueled by increased expenditure on gasoline prices . The Commerce Department's report on Thursday revealed a 0.6% rise in retail sales across various platforms including brick-and-mortar stores, online platforms, and resta…