U.S. Debt Tops $40.5 Trillion as Interest Nears $3 Billion a Day
U.S. debt reaches $40.53 trillion as annual net interest costs hit $1.052 trillion, averaging $2.88 billion a day and absorbing 19.5% of federal revenue.
Economy
Track the key forces shaping the global economy with our comprehensive coverage. This section delivers timely updates on central banks and interest rates, inflation trends, labor markets, GDP growth and geopolitical shifts. We provide clear analysis and essential context so readers can understand how economic indicators and policy decisions affect markets, businesses and personal finances worldwide. Designed for professionals, investors and anyone interested in macro trends, our Economy category brings together the stories that define today’s economic landscape.
Latest Economy News
Top Stories
Brazil ETF Plunges 26% After Lula’s Surprise Reelection
Brazil’s EWZ ETF falls 26% in U.S. premarket trading after Lula wins reelection, as investors await the domestic market opening and a legal challenge.
American Express to Cut 5% of Jobs as It Prepares for AI
American Express plans to cut about 5% of its workforce as it prepares for AI, joining Barclays and Netflix in a broader push to reshape staffing.
Gold Falls Below $4,000 as Oil Fuels Fed Rate Concerns
Gold touched $3,986.50 before recovering above $4,000 as oil-driven inflation fears and Fed rate expectations kept bullion under pressure.
British Retail Sales Fall 0.4% as Warm Weather Hits Clothing
British retail volumes fell 0.4% in September as clothing and supermarket sales weakened, although sales still rose 0.7% across the third quarter.
Central Bank Gold Buying Tops Four Times Pre-2022 Pace
Goldman estimates central banks bought 79 tonnes of gold in August, while Dutch and French reserve changes highlight a renewed focus on storage and access.
Barclays to Cut 5,000 Jobs as AI Reshapes Its Cost Base
Barclays plans 5,000 job cuts this year, with 4,000 still to come, as AI adoption and restructuring accompany higher profit and a £500 million buyback.
French 10-Year Yield Tops 5% as Budget Deadlock and Protests Rattle Markets
France’s 10-year bond yield reaches about 5.05%, its highest since 2002, as budget deadlock and unrest intensify scrutiny of the country’s debt.
U.S. National Debt Hits Record $40.396 Trillion, Up Nearly $400 Billion in Two Months
U.S. national debt reaches a record $40.396 trillion, rising $383.7 billion in two months as persistent deficits and financing costs keep pressure on federal finances.