Global sales of fully electric and plug-in hybrid vehicles surged by 21% in July, driven by China’s robust market performance despite a decline in demand across Europe, according to market research firm Rho Motion. China's electric vehicle (EV) market saw its strongest growth of the year, with...

Experts at JP Morgan Chase, a US bank, raised the likelihood of a recession in the United States by the year's end from 25% to 35%. Financiers think the economic situation could deteriorate less than initially forecasted due to reduced activity in the job market. JP Morgan predicts that the chances...

The Bank of England stated that eight of the biggest banks in Britain can receive bailouts in a crisis without needing government funds for their rescue. The second evaluation by the British Central Bank regarding the performance of the top banks in the country during a potential bailout was...

In its monthly report, the US Department of Energy's Energy Information Administration (EIA) increased its projected global oil demand for 2024 to 102.94 million barrels per day (bpd) from 102.91 million bpd, but decreased the forecast for 2025 by 130,000 bpd. The EIA's current forecast predicts...

Russian port crude oil exports dropped to nearly 1.8 million barrels per day in July, marking the lowest level in 19 months, Bloomberg reported based on its own calculations using tanker tracking data. The agency indicates that Russia's exports in June were just over 2.2 million bpd. The overall...

The U.K. government has cancelled £1.3 billion ($1.7 billion) worth of computing infrastructure projects, marking a significant shift in the country's approach to becoming a leader in artificial intelligence (AI). The decision, confirmed by a government spokesperson, involves scrapping two major...

The U.S. labor market showed signs of a slowdown in July, as the unemployment rate increased to 4.3%, the highest in nearly three years. This rise from 4.1% in June marked the fourth consecutive monthly increase, according to the Labor Department's report on Friday. The increase from a 50-year low...

Preliminary data from Eurostat show that consumer prices in the eurozone rose by 2.6% annually in July. In other words, inflation increased in comparison to June, reaching 2.5%. The anticipated decrease to 2.4% was predicted by analysts' consensus forecast reported by Trading Economics. In...

The Biden administration is set to introduce a new rule expanding U.S. export controls on semiconductor manufacturing equipment to China, aiming to curb the growth of China's advanced chipmaking industry. However, this new measure will exempt key allies, including Japan, the Netherlands, and South...