Author: Jamie Carpenter

Central bank signals shift away from dollar dominance China’s central bank governor Pan Gongsheng announced plans to expand the international use of the digital yuan and advocated for a multi-polar global currency system. Speaking at the Lujiazui Forum in Shanghai, Pan said China will establish an international e-CNY operations center in the city, positioning the yuan for broader global adoption. The move is part of a wider strategy to reduce dependence on Western financial systems amid intensifying trade tensions, particularly with the United States. Pan emphasized that a diversified global currency structure would bolster financial stability and create checks and…

Economic minister urges central bank to ease monetary policy Russia’s Economy Minister Maxim Reshetnikov warned Thursday that the nation is teetering on the edge of a recession, as soaring interest rates strain businesses and investment. Speaking at the St. Petersburg International Economic Forum, Reshetnikov said the country’s economic trajectory now depends heavily on upcoming monetary policy decisions. “We are already, it seems to me, on the verge of going into recession,” he said, though he later clarified that this outcome is not yet certain. “From here on out, everything will depend on our decisions.” Calls for rate relief as borrowing…

Altman reveals intense talent war in AI industry OpenAI CEO Sam Altman claims that Meta has attempted to lure top OpenAI engineers with signing bonuses as high as $100 million. Speaking on the Uncapped podcast, hosted by his brother, Altman said Meta is aggressively recruiting as it works to build out its superintelligence unit and compete more directly in the artificial intelligence race. “They started making giant offers to a lot of people on our team,” Altman said. “You know, like $100 million signing bonuses, more than that in compensation per year.” He added that none of OpenAI’s best talent…

Minimal factory growth in May highlights sector fragility U.S. factory production showed only a marginal increase in May, reflecting a mixed picture for the manufacturing sector as it grapples with shifting trade policies and global economic uncertainty. According to the Federal Reserve, manufacturing output edged up just 0.1%, falling short of the 0.2% rebound economists had anticipated. This follows a downwardly revised 0.5% decline in April. On a year-over-year basis, manufacturing output rose 0.5%, but the overall industrial sector experienced a 0.2% decline in May. The sector continues to operate below its historical capacity, with industrial capacity utilization slipping to…

Vienna falls to second as global stability declines Copenhagen has officially been named the world’s most liveable city in 2025, ending Vienna’s three-year reign at the top of the Economist Intelligence Unit’s (EIU) annual Global Liveability Index. The Danish capital scored perfect marks for stability, infrastructure, and education, placing it ahead of Vienna and Zurich, which tied for second place. EIU analysts rated 173 cities based on healthcare, education, stability, infrastructure, and environment. While Vienna performed well across most categories, a notable drop in its stability score—linked to security incidents such as a bomb threat at a Taylor Swift concert—cost…

CEO outlines cuts as airline struggles with falling bookings JetBlue is signaling growing concern about travel demand and financial stability, as CEO Joanna Geraghty warned employees in an internal memo that the airline is unlikely to reach break-even operating margin this year. Geraghty said the company is still relying on borrowed cash to stay afloat and will implement cost-cutting measures to conserve liquidity. “We’re hopeful demand and bookings will rebound, but even a recovery won’t fully offset the ground we’ve lost this year,” she wrote. The memo outlines plans to reduce flights on lower-demand weekdays, cut underperforming routes, and pause…

At Home, the home decor and furniture retailer with more than 200 locations in the United States, has filed for Chapter 11 bankruptcy as part of a restructuring plan. The move aims to eliminate $2 billion in debt while securing new capital to stabilize operations. Restructuring to Address Debt and Ownership The Plano, Texas-based company announced Monday that the filing will provide $200 million in capital and facilitate a transition of ownership to its lenders, who currently hold over 95% of its debt. At Home has struggled in recent months, facing rising tariffs and weaker consumer demand for home furnishings.…

Advanced Micro Devices (AMD) shares climbed nearly 9% on Monday after analysts at Piper Sandler raised their price target, citing strong optimism following the company’s latest product announcements. The rally brought AMD stock to its highest level since early January. Analysts See AI Products Driving Growth Piper Sandler analysts highlighted the potential for a rebound in AMD’s graphics processing unit (GPU) business during the fourth quarter. By that time, the company is expected to work through most of the $800 million in charges linked to new U.S. export restrictions on semiconductor sales to China and other countries. Next-Generation AI Chips…

Introduction Oracle shares experienced their best week since 2001, driven by strong earnings and bullish forecasts for its cloud computing and AI infrastructure businesses. The stock jumped 24% for the week, fueled by surging demand for AI model hosting and rapid data center expansion. Oracle’s transformation from a late cloud entrant to a major player is now capturing Wall Street’s full attention. Record-Breaking Stock Performance Oracle’s shares closed at a record $215.22 on Friday, marking a 24% weekly gain, its strongest since April 2001. Unlike the dot-com era’s volatile swings, today’s rally reflects fundamental growth. The company reported quarterly revenue…

Introduction Shares of U.S. Steel declined after a Nippon Steel executive indicated that their planned $14.9 billion takeover still faces unresolved hurdles, particularly concerning management autonomy. While sources suggest an agreement with the U.S. government may be close, political and legal complexities continue to cast uncertainty over the deal’s final approval. Nippon Steel Calls for Management Freedom Speaking to Japan’s Nikkei newspaper, a Nippon Steel executive stressed that “a degree of management freedom” is essential for the deal to move forward. The remarks appeared to counter recent statements by President Donald Trump, who claimed control over U.S. Steel through a…