The U.S., China and India may take turns leading the global economy this century, according to an analysis from the Centre for Economics and Business Research. The CEBR forecast suggests China could potentially take the top spot as the world’s largest economy by gross domestic product as early as 2037. The forecast also sees potentially strong … Read more
Consumers shop at a retail chain store in Rosemead, California, on December 12, 2023. Frederic J. Brown | AFP | Getty Images Economists expect that inflation nudged higher in December, a trend that could call into question the market’s eager anticipation that the Federal Reserve will slash interest rates this year. The consumer price index, … Read more
Boeing CEO Dave Calhoun admitted to mistakes by the U.S. plane manufacturer and vowed incidents like the mid-air panel blowout last week can “never happen again.” Calhoun made the remarks to staff at a town hall Tuesday as more than 170 of its 737 Max 9 jets remain grounded by the U.S. Federal Aviation Administration … Read more
People carry shopping bags as they visit a department store during the holiday season in New York City. Eduardo Munoz | Reuters Retailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December. However, the data also shows the true state of consumer … Read more
Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC. Estimates for the kingdom’s untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5 trillion, according to Saudi Mineral Resources … Read more
Alfieri | Digitalvision Vectors | Getty Images As around half of the world’s adult population heads to the polls in a bumper year of elections, concern over the role of artificial intelligence in disrupting outcomes has topped the list of the biggest risks for 2024, according to a new report. The World Economic Forum’s “Global … Read more
Social media posts by Maldivian officials may cost the country millions in tourism revenue, as calls by Indian travelers to boycott the island nation intensify. “We are seeing a 40% drop in bookings over the last two days,” Ankit Chaturvedi, vice president and global head of marketing at the India-based travel software company Rategain, … Read more
A customer visits a supermarket in San Mateo, California, on Dec. 12, 2023. Li Jianguo | Xinhua News Agency | Getty Images Inflation is retreating from its pandemic-era highs. Economic jargon yields two similar terms — “deflation” and “disinflation” — that might describe this pullback. So, which is the U.S. experiencing? In short: Disinflation. What … Read more
U.S. President Joe Biden delivers remarks on the U.S. economy and his administration’s effort to revive American manufacturing, during his visit in Flex LTD, in West Columbia, South Carolina, July 6, 2023. Jonathan Ernst | Reuters The White House took aim at former President Donald Trump after the Republican presidential candidate frontrunner said he hoped … Read more
A job fair in China’s southwestern city of Chongqing on April 11, 2023. Str | Afp | Getty Images The global economy is on course to record its worst half decade of growth in 30 years, according to the World Bank. Global growth is forecast to slow for the third year in a row in … Read more
