Economy News

Economy

March Sees a Significant 5.9% Drop in US Existing Home Sales Amid Affordability Challenges

US existing home sales fell by 5.9% in March, with affordability challenges and high mortgage rates cited as key factors. The median sales price rose to $403,700, while inventory l...

Economy

UK's Bold Leap into Renewable Energy: Starmer Announces £300M Offshore Wind Farm Initiative

British Prime Minister Keir Starmer announces a £300M offshore wind farm project to boost renewable energy, alongside a £2B deal with Eni S.p.A for carbon capture, aiming to create...

Economy

DOGE Cuts $845M in Federal Contracts to Tackle Wasteful Spending and Inefficiencies

The United States Department of Government Efficiency (DOGE) has terminated 269 federal contracts worth $845 million to combat wasteful spending, saving $255 million initially and ...

Economy

BoE's Governor Bailey Assures UK Economy's Stability Amid US Tariff Concerns

Bank of England Governor Andrew Bailey discusses the potential impact of US tariffs on UK growth, reassuring that the UK is not close to a recession, and outlines the consideration...

Economy

US Natural Gas Storage Sees Significant Weekly Increase, EIA Reports

The EIA reports an 88 Bcf weekly increase in US natural gas storage, reaching 1,934 Bcf, though levels are down 478 Bcf year-over-year and slightly below the five-year average.

Economy

DOGE Cuts $845M in Federal Contracts to Combat Wasteful Government Spending

The United States Department of Government Efficiency (DOGE) has terminated 269 federal contracts worth $845 million to combat wasteful spending, saving $255 million initially and ...

Economy

Keir Starmer Launches Groundbreaking £300M Offshore Wind Project to Revolutionize UK's Clean Energy Sector

UK Prime Minister Keir Starmer announces a £300 million offshore wind project to boost clean energy and job creation, alongside a £2 billion agreement with Eni S.p.A. for a carbon ...

Economy

Bundesbank Warns of Potential Economic Setback in Germany's Second Quarter Amid Weak Demand

The Bundesbank warns of a potential economic setback in Germany's second quarter due to weak demand and trade challenges, despite a slight GDP rise in Q1. Inflation outlook remains...