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Economic conditions & trends

First Republic Secures $30B Rescue From 11 Banks

First Republic Secures $30B Rescue From 11 Banks

First Republic Bank on Thursday received a lifeline from 11 of America's largest banks, who pledged to deposit $30B in order to shore up lenders' concerns at a time of crisis for the US banking industry, including the collapse of Silicon Valley Bank and Signature Bank last week....

UK Budget 2023: Economy Set to Avoid Recession

UK Budget 2023: Economy Set to Avoid Recession

Following UK Chancellor Jeremy Hunt's announcement of the 2023 budget, the Office for Budget Responsibility (OBR) forecast that the UK won't enter a technical recession this year, with inflation reportedly set to drop to 2.9% — a reduction by more than half its current rate — by the end of 20...

Report: Extreme Poverty Could be Eradicated by 2050

Report: Extreme Poverty Could be Eradicated by 2050

According to a new report from the Center for Global Development (CGD), titled Scenarios for Future Global Growth to 2050, extreme global poverty could be eradicated by 2050....

Powell: US Interest Rates May Increase More Than Expected

Powell: US Interest Rates May Increase More Than Expected

On Tuesday, US Federal Reserve (Fed) Chair Jerome Powell indicated that the Fed may increase the size of its interest rate hikes and borrowing costs to higher-than-projected levels if the economy continues to be robust amid persistently high inflation....

China Announces Military Spending Increase

China Announces Military Spending Increase

Chinese Premier Li Keqiang has announced a rise in the nation's military spending by 7.2% and an official GDP growth target of about 5% for 2023. The news opened the Chinese Communist Party-led parliament's annual meeting on Sunday....

Report: India's Modi Allowed ‘Inappropriate’ Adani Coal Deals

Report: India's Modi Allowed ‘Inappropriate’ Adani Coal Deals

According to an investigation conducted by the nonprofit The Reporters Collective and published by Al Jazeera on Wednesday, Indian PM Narendra Modi’s admin. granted favor to Adani Enterprises Ltd. to mine from a block holding more than 450M tons of coal, despite ruling that giving coal blocks t...