Economy

Economy Latest News

Ben & Jerry's co-founder quits, says independence 'gone'
Ben & Jerry's co-founder quits, says independence 'gone'
by  AFP

The co-founder of Ben & Jerry's has resigned from the ice cream brand after saying his company know for its social activism has lost "the independence to pursue our values" under the ownership of British giant Unilever.

UK inflation stable ahead of central bank rate call
UK inflation stable ahead of central bank rate call
by  AFP

British inflation was unchanged in August, official data showed Wednesday, fuelling expectations that the Bank of England will not cut interest rates again at its meeting this week. The BoE trimmed borrowing costs in August to four percent, its lowest level in 2.5 years, but is widely expected to maintain its key interest rate on Thursday and for the remainder of 2025.

Lower shipments to US, China weigh on Singapore August exports
Lower shipments to US, China weigh on Singapore August exports
by  AFP

Singapore's exports slid again in August according to official figures out Wednesday, as shipments to its biggest markets -- the US and China -- keep dropping. Singapore's non-oil domestic exports shrank by 11.3 percent August 2025, faster than the revised 4.7 percent fall in July 2025, the government's Enterprise Singapore body said.

India's gaming fans eye illegal sites after gambling ban
India's gaming fans eye illegal sites after gambling ban
by  AFP

India's ban on online gambling has shuttered a billion-dollar industry serving hundreds of millions of people and torpedoed the sponsorship of the national cricket team. India's parliament last month passed a sweeping law banning online gambling after government figures showed companies had stripped $2.3 billion annually from 450 million people.

EU business lobby head says China rare earths snag persists
EU business lobby head says China rare earths snag persists
by  AFP

European firms still face challenges in securing access to crucial rare earths from China, a business lobby warned Wednesday, despite a July deal to speed up exports. Following a tense summit in July hosted by Beijing, European Union chief Ursula von der Leyen said that leaders had agreed to an improved mechanism for Chinese exports of rare earth minerals to the bloc.

US Fed set for first rate cut of 2025 as Trump pressure looms
US Fed set for first rate cut of 2025 as Trump pressure looms
by  AFP

The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles competing forces in the path forward -- with heightened political pressure and likely divisions among its ranks. Since its last cut in December, the Fed has held interest rates at a range between 4.25 percent and 4.50 percent.