U.S. Regulators have asked a judge to block Microsoft from completing its $69 billion Call of Duty publisher Activision Blizzard purchase. The U.S. Federal Trade Commission said the deal, which would be the largest in the video game industry’s history, could substantially lessen competition in the sector. The move comes after the UK blocked the deal over concerns it would […]
Prices for eggs, petrol, and furniture dropped in the U.S. last month, helping to slash inflation to less than half of its peak a year ago. The Labor Department said inflation was 4 percent over the 12 months to the end of May. That was down from 4.9 percent in April and marked the 11th month in a row that […]
The World Bank says based on its estimates, inflation has already peaked in most counties. World Bank Deputy Chief Economist Ayhan Kose says that based on the current path, the increase in the cost of goods and services should regulate by 2024. “At the global level we saw quite high inflation, around nine per cent last year. That number has […]
According to media reports, the Guyana Appellate Court has put on hold the suspension order issued against ExxonMobil Esso Exploration and Product Limited to cease operations until the hearing determination of the full appeal case. In the interim, Judge Rishi Persaud today also ordered that the oil company provide a US$2 billion security deposit within the next ten days, or […]
The Job market in the U.S. continues to be buoyant, despite rising prices and a sharp spike in borrowing costs weighing on the economy. Employers added 339 thousand jobs, but the unemployment rate rose to 3.7 percent, from April’s unusually low 3.4 percent. The increase in number exceeded expectations, thus showing a long run in hiring, notwithstanding the Fed’s attempt […]
ExxonMobil shareholders have supported their Board of Directors and voted overwhelmingly to reject a proxy measure for additional disclosures on a worst-case scenario oil spill response plan for the company’s Guyana operations. Even as the company highlighted to its shareholders that Guyana has been one of its main revenue earners and its operations were on target to ensure a solid […]
WASHINGTON — President Joe Biden said a deal to raise the government’s debt ceiling seemed “very close” late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5. The later date, laid out in a letter from Treasury Secretary Janet Yellen, set the risk of a devastating default four days later than an earlier estimate. […]
U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month. The growth picture was further brightened by other data from the Commerce Department today showing a surprise rebound last month in orders of manufactured non-defense […]
U.S. economic growth in the first three months of the year was faster than previously estimated. A report from the Commerce Department today said gross domestic product, increased at an annualized rate of 1.3 percent in the first quarter, up from an initial estimate of 1.1 percent reported last month. The change was mostly driven by an upward revision to […]
Persistent inflation has helped push Germany into recession in the first three months of the year. The federal statistics agency Destatis said the economy contracted by 0.3 percent between January and March. That followed a 0.5 percent contraction in the last three months of last year. Analysts say Europe’s largest economy was also badly affected when Russian gas supplies dried […]
