Africa’s exports could grow by $1 trillion under trade deal
Africa’s economic prospects are looking brighter following the adoption and ratification of a free-trade accord by most of the continent’s 55 nations. According to a recent Standard Chartered report, annual…
US mortgage rates keep hitting multi-decade highs
The contract rate on 30-year fixed mortgages rose 14 basis points to 7.67% for the week ended 6 October, according to data released by the Mortgage Bankers Association on Wednesday.…
China’s largest private developer signals default, property crisis deepens
Chinese developer Country Garden Holdings Co. offered the strongest indication yet that it’s set for a maiden default and debt restructuring, in the latest sign that authorities’ rescue efforts are…
Ledger tightens belts, laying off 12% of staff
Ledger, a French-based company that makes hardware wallets for crypto investors, will lay off 12% of its employees to conserve resources amid a prolonged industry downturn. “Macroeconomic headwinds are limiting…
The 5% bond market means the pain will be felt by everyone
The world’s largest bond markets are under pressure from a powerful selloff: bond yields hitting post-crisis highs worldwide. Not so long ago, families, businesses and governments actually lived in a…
Saudi Arabia extends oil production cut
Saudi Arabia has decided to continue implementing a measure to voluntarily cut oil production by 1 million barrels per day until the end of 2023. Prior to that, the voluntary…