ECONOMY

White House National Economic Council Director Brian Deese will officially leave the White House later this month in a long-awaited departure. In a statement Thursday morning, President Joe Biden praised Deese for his work on implementing his economic policies.” Brian’s work was critical to the passage of the most significant economic agenda in generations,” the …

White House top economic advisor Brian Deese to depart mid-February Read More »

As per the Budget proposal, banks remitting funds overseas will have to collect tax at source at 20% without the applicability of any threshold limit. So, whether you are buying a house in Dubai, or meeting the day-to-day expenses of your child studying abroad, or investing in global stocks, it will pinch your pocket. Earlier, …

Union Budget 2023: Sending money abroad to burn bigger hole in pocket Read More »

Ukraine’s President Volodymyr Zelenskiy visiting troops in Kherson, Ukraine. Photo: Reuters Russians who are incensed by President Vladimir Putin’s invasion are sending “significant amounts of money” through cryptocurrency back channels to help Ukraine, according to its deputy digital minister. Two days after Putin’s troops and tanks crossed the international border between Russia and Ukraine on …

Russians sending money via crypto to help Ukraine Read More »

For years, gig economy companies grew at a breakneck pace, wracking up losses in hopes the profits would someday pour in. But now, those companies are emphasizing profitability over growth says Michael Morton, senior research analyst for internet stocks at MoffettNathanson. “These companies are maturing. Not to where they don’t have growth in their future, …

Gig companies are now obsessed with profits—not just revenue growth, says analyst. Read More »

LONDON, Feb 2 (Reuters) – Central bank policy announcements, once viewed as the rule book for how markets should move, are not resonating with traders any more. Take Wednesday’s Federal Reserve rate move. The central bank lifted its main funds rate by 25 bps to its highest since 2007 as it continued its fight against …

Analysis: Markets to central bankers: we don’t believe you Read More »

Comment on this storyCommentDhiraj Nayyar is the director for economics and policy at Vedanta Resources, whose philanthropic arm runs three not-for-profit colleges in India.Can India create a higher education system worthy of its aspirations as a full-fledged knowledge economy?That’s still to be determined. But India is on the verge of taking a major, long-awaited first …

Opinion | Push in India to allow foreign universities could be a game-changer Read More »

Check out what’s clicking on FoxBusiness.com Rivian Automotive announced Wednesday that it’s laying off 6% of its workforce as the electric vehicle maker looks to cut costs while ramping up production in an increasingly competitive EV market. CEO RJ Scaringe informed employees of the layoffs in an emailed letter obtained by FOX Business in which …

EV maker Rivian cutting 6% of workforce, but manufacturing jobs spared Read More »

The US Capitol Building is seen on January 19, 2023 in Washington, DC. Anna Moneymaker | Getty Images The contours of divided government in Washington are now clear: The main point of contention is the looming debt ceiling deadline, and the main area of ​​agreement is addressing systemic competition with Communist China. While they can …

Why Beijing is cheering on the US debt ceiling fight Read More »

PENRITH, England—A man in overalls whitewashes the front window of yet another shop closing on the city’s main street. Families stockpile blankets to ward off the cold as they sit shivering in their homes with no heating while lines of people who cannot afford to feed their children form at the local food bank. Bars …

Brexit Has Delivered a Broken Britain Read More »

NEW DELHI: Authorities in Bangladesh have sought a revision of an agreement with Adani Power Ltd for importing electricity from a thermal power plant in Jharkhand over the “excessive” pricing of coal, according to a Bangladeshi media report. The Bangladesh Power Development Board (BPDB) signed a 25-year power purchase agreement (PPA) with Adani Power in …

Bangladesh asks Adani Power to revisit 2017 pact over ‘excessive’ pricing: Report Read More »