Iran’s economy is rapidly deteriorating under the strain of war, with more than one million people out of work and inflation soaring to crippling levels. According to The Wall Street Journal, another million jobs have been indirectly affected, as businesses shut down and supply chains collapse across the country.
U.S. inflation cooled more than expected in November, delivering encouraging news for American consumers and reinforcing confidence in financial markets. A delayed Labor Department report showed the Consumer Price Index rose 2.7% from a year earlier—down from 3% in September and below economists’ 3.1% forecast—while core inflation, which excludes volatile food and energy prices, also came in lower than anticipated at 2.6%, signaling continued progress in easing price pressures.
China has unveiled sweeping new export restrictions on rare-earth materials and related technologies — a move analysts describe as a near-unprecedented escalation in its economic confrontation with the United States. The rules, announced Thursday by China’s Commerce Ministry, could disrupt global supply chains for critical technologies, from semiconductors and solar panels to electric vehicles and advanced weapons systems.
The U.S. federal government ended fiscal year 2025 with a $1.8 trillion budget deficit, according to estimates released Wednesday by the Congressional Budget Office (CBO)–a figure only marginally smaller than last year’s record shortfall, even as tariff revenue surged under President Donald Trump’s trade policies.
Gold surged to an unprecedented $4,000 a troy ounce on Tuesday, marking a milestone that underscores growing investor unease about the U.S. economy and the global financial order.
Moldova’s president says Russia is plotting to overthrow the country’s pro-European Union government after a Russian missile violated the country’s airspace.
This year is going to be tougher on the global economy than 2022, the International Monetary Fund’s chief, Kristalina Georgieva, has warned.
The United States is seeing a major price correction in its housing market, with analysts calling it very nearly the largest such shift since the end of World War II roughly 80 years ago.
The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point and signaled more tightening next year as it continues to battle high inflation, a fight that’s expected to slow the economy and raise unemployment.
Hungary’s controversial prime minister says his country will only consider ratifying NATO military alliance membership of Finland and Sweden next year.
Existing home sales in the United States fell for the ninth straight month in October as higher mortgage rates kept buyers out of the housing market.
Americans are running up credit card debt at historic levels as they struggle with soaring inflation.
Bulgaria, once labeled the “sixteenth republic” of the Soviet empire for its obedient allegiance to Moscow, should send military aid to Ukraine, the parliament decided Thursday.
U.S. President Joe Biden has come under pressure ahead of mid-term elections for saying there is “going to be a new world order” that the United States must lead.
Christians in Communist-run China faced potentially more difficulties Monday after China’s Communist Party on Sunday formally reelected Xi Jinping, the party’s general secretary, for another five years.
The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
U.S. existing home sales dropped for an eighth straight month in September as surging mortgage rates and still-elevated selling prices push affordability beyond the reach of many prospective buyers.
While some churches across the country are shaking off the financial effects of the COVID-19 pandemic, a new survey of pastors reveals the troubled economy is now having an adverse financial effect on their churches as well.
There are plans in the making for Egypt to take over the development of Gaza’s offshore natural gas field, a move that would stimulate the weak Palestinian economy, i24 News reports. The Gaza Marine field is believed to hold over 1 trillion cubic feet of natural gas, well over what is needed to supply Palestinian territories, and could therefore be a potentially lucrative source of export.
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.