Economy

US Diesel Hits Record $6.06 a Gallon as Iran War Squeezes Supply

U.S. diesel prices reached a record $6.06 per gallon on September 11 as the Iran and Ukraine wars tightened fuel supply and raised transport costs.

China Tests Star-Based Navigation for Its 2030 Jupiter Mission

Chinese researchers tested stellar aberration navigation aboard the Tianhui-7 satellite in January, fixing its position to within 5km ahead of a 2030 Jupit

Hong Kong Cuts Subsidised Physiotherapy Places by a Third for 2027-28

Hong Kong's Education Bureau cut subsidised physiotherapy places by about a third for 2027-28 as graduates face a tightening job market

China Sets 2030 Target for Public Cultural Services in 15th Five-Year Plan

China's Ministry of Culture and Tourism issued a 15th Five-Year Plan for public cultural services, setting 2030 targets and 18 key engineering projects.

China Unveils Publishing Industry Plan for 2026–2030 With 33 Major Projects

China's National Press and Publication Administration has issued a publishing industry plan through 2030, listing eight priority areas and 33 major project

US Credit Card Debt Climbs to $1.26 Trillion, Nearing Record

US credit card balances rose to $1.26 trillion in Q2 2026, nearing last year's record high of $1.28 trillion, a New York Fed report shows.

US Mortgage Rates Stop Rising, Nudging Homebuyer Demand Back

US mortgage rates eased slightly this week, halting a run of increases and drawing modest homebuyer and refinance demand back into a subdued market.

U.S. July Inflation Report Lands Wednesday, Shaping Fed’s Next Rate Move

The U.S. consumer price index due Wednesday is expected to show a modest July rise, giving the Federal Reserve a key signal on its next rate move.

US Existing Home Sales Fall 1.7% in July as Record Prices Deter Buyers

US existing home sales dropped 1.7% in July as record prices and the highest mortgage rates in a year kept many prospective buyers out of the market.

China Unveils Drone Export Controls, Sanctions on Six US Firms Over Trade Restrictions

China announced drone export controls and a ban on dealings with six American entities in response to recent US trade restrictions, deepening tensions.

US Mortgage Rates Reach Highest Level in Over a Year, Cooling Housing Demand

US mortgage rates have risen to their highest level in over a year, pushing demand below year-ago levels amid geopolitical uncertainty over the Strait of H

U.S. Payrolls Expected to Rise by 80,000 as Markets Weigh Fed’s Next Move

U.S. payrolls are expected to grow by 80,000 with unemployment holding steady, a report that could shape Federal Reserve rate expectations.

US Economy Sheds 23,000 Jobs in July as Rate Hike Bets Fade

The US economy lost 23,000 jobs in July as labour force participation slumped, prompting markets to cut bets on a September Federal Reserve rate hike.

U.S. Mortgage Rates Climb for Fifth Straight Week to Highest Level in a Year

The 30-year fixed U.S. mortgage rate rose to 6.69%, its fifth straight weekly increase and the highest level in over a year, straining homebuyers.

U.S. Private Payrolls Add Just 44,000 Jobs in July, Weakest Gain in Six Months

U.S. private employers added only 44,000 jobs in July, the weakest gain in six months, signaling a cooling labor market as hiring turns unusually soft.

US Job Openings Slip to 7.4 Million as Labor Market Weathers Iran Conflict

U.S. job openings slipped to a three-month low of 7.36 million in June, but the labor market stayed resilient despite the energy shock from the Iran confli

Oil Tops $100 as Iran War Widens, Squeezing Consumers at Pumps and Stores

Crude oil surged past $100 a barrel amid renewed Middle East fighting, pushing gasoline above $4 a gallon and threatening higher costs for U.S. shoppers.

Top Certificate of Deposit Rates Reach 4.35% as Savers Seek Long-Term Yields

Certificate of deposit rates are reaching up to 4.35% APY this summer, drawing savers seeking fixed returns amid uncertainty over future interest-rate cuts

Fed Dissenters Defend Rate Hike Votes, Warning Inflation Demands Immediate Action

Federal Reserve officials who backed higher interest rates say immediate action is needed as inflation stays above the 2% target for over five years.

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