Officials announced on Saturday that the European Union and Germany had achieved an agreement on the use of combustion engines in the future. The car industry had been closely watching this issue.   An influential environmental group swiftly denounced the accord, which will permit some...

As new information revealed that clients recently withdrew roughly $100 billion in deposits, regulators reaffirmed their assurance to the public that the banking system is secure.   Friday saw a special closed meeting of the Financial Stability Oversight Council that was attended by Treasury...

Free delivery is not an actual thing.   Yet, as prices rise and e-commerce shrinks, Amazon.com Inc. and other online retailers who rely on supposedly free shipping to build consumer loyalty are battling to prevent it from eating into their profitability.   Companies are increasing...

According to a source on Friday, after U.S. lenders gave First Republic Bank a $30 billion lifeline and drew record amounts from the Federal Reserve, supervisors at the European Central Bank do not see any spillover effects from recent sector turmoil for euro zone banks.   The San...

The S&P 500 bank index fell nearly 6% on Thursday, the most in over two years, as investors fled the industry in the aftermath of SVB Financial Group's share sale announcement and crypto bank Silvergate's decision to cease operations.   SVB shares, which include Silicon Valley Bank, fell...

Emerging markets are facing their demons as traders speculate on whether the United States Federal Reserve will raise interest rates as high as 6%, a level that could kick weaker countries when they're down, while diverging global growth paths and China's reopening may cushion some of the blow for...

In February, China's annual consumer inflation fell to its lowest level in a year, as consumers maintained caution about spending even though strong pandemic restrictions were lifted in late 2022.    Analysts said that when combined with the persistence of producer deflation, which...

Fatih Birol, the head of the International Energy Agency (IEA), has warned that there may be energy shortages next winter because there aren't many new liquefied natural gas (LNG) products entering the market, even as China's consumption is expected to increase this year.   Birol told...

Rebellions Inc., a South Korean startup, unveiled an artificial intelligence (AI) chip on Monday as it competed for government contracts and Seoul sought a place for homegrown firms in the burgeoning AI sector.   The firm's ATOM chip is the most recent attempt by Korea to compete with Nvidia...

Following the imposition of a price cap on oil products by major economies, Russia will cut its crude oil production by 500,000 barrels per day starting in March. Following the cut's announcement by Alexander Novak, deputy prime minister of Russia, oil prices increased.   The price that the...

The large oil companies, including ExxonMobil and Norway's Equinor as well as UK-based BP and Shell, have been announcing astounding profit numbers.   They are all profiting from the rise in oil and gas prices as a result of the invasion of Ukraine.   People struggle to pay their...