Economic News Category

Offshore wind auction bids in the United States have surpassed $1.5 billion, with more to come The largest-ever sale of offshore wind development rights in the United States drew a record $1.5 billion in bids on Wednesday, supporting President Joe Biden’s plan to create a new domestic industry. The auction, which will continue on Thursday,

The S&P 500 has confirmed a correction as stocks fall due to war fears The S&P 500’s 1% drop on Tuesday confirmed that the world’s most watched stock index was in a correction for the first time since the 2020 Wall Street crash caused by the COVID-19 pandemic.US investors sold stocks amid rising fears of

Following the ECB shock, European firms face higher borrowing costs After the ECB’s surprise pivot toward tighter monetary policy, European companies hoping to fund M&A and capital expenditures on bond markets this year face a sharp increase in borrowing costs and wary buyers. Bond issues are an important source of funding for businesses, and their

Existing home sales in the United States are increasing, with investors pushing out first-time buyers Although home sales in the United States unexpectedly increased in January, investors paying in cash are pushing first-time buyers out of the market due to record low inventory and higher prices. The National Association of Realtors reported a surge in

Weekly jobless claims in the United States unexpectedly rise Last week, the number of Americans filing new claims for unemployment benefits unexpectedly increased, but remained at levels associated with tightening labour market conditions. The Labor Department reported on Thursday that initial claims for state unemployment benefits increased by 23,000 to a seasonally adjusted 248,000 for