Flash Purchasing Managers’ survey results from eurozone and the UK are due on Thursday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for May. The budget deficit is expected to narrow to GBP 13.2 billion from GBP 17.8 billion in April. In the meantime, […]

On the heels of last week’s significant interest rate increase, Federal Reserve Chair Jerome Powell appeared before the Senate Banking Committee on Wednesday to deliver his semiannual monetary policy testimony. Powell began his prepared remarks by highlighting the Fed’s strong commitment to bringing inflation back down to the central bank’s longer-run goal of 2 percent. “At the Fed, we understand […]

If Vladimir Putin had any doubts over who his friends and foes are, he just needed to scan the room at Russia’s annual business summit in St Petersburg last week. JP Morgan boss Jamie Dimon and European leaders including Nicolas Sarkozy have attended the “Russian Davos” in previous years. Vladimir Putin struck an upbeat tone at his economic summit in […]

Vladimir Putin’s appearance at the St Petersburg economic forum, the Kremlin promised, would be an “extremely important” intervention. And it was. The Russian leader’s lengthy address, a rarity since the invasion of Ukraine, was a flame-throwing show of defiance and blame-shifting, a remarkable snapshot of a state of mind that leaves little hope for compromise. It was also a staggering […]

Much of the United States is under a so-called heat dome. According to CNN, over 20% of the people in the country will deal with temperatures of 100 degrees Fahrenheit or higher. This is not the first time this has happened this year. It will not be the last. The current heat wave will cover primarily the center of the […]