The case for financial institutions dedicating more capital to climate risks is yet to be clearly established, the Bank of England (BoE) Governor, Andrew Bailey, said on Tuesday. Baily warned that disorderly moving away from fossil fuels could disrupt markets and lead to a surge in inflation. “A disorderly transition, …

Factory activity in Texas expanded at a slower pace last month, according to the latest data by the Federal Reserve Bank of Dallas. The Texas Manufacturing Outlook Survey results showed on Tuesday that the production index decreased by 18 points to 15.7 in May. The new orders index registered a …

The U.S. manufacturing sector saw an improving level of business activity last month, according to data released on Tuesday. May witnessed an extension to an expansion streak for the sector to the 12th consecutive month, with the overall economy growing, according to the Manufacturing ISM Report on Business by the Institute for Supply …

European stocks finished higher on Tuesday, beginning June with a positive performance, amid positive expectations for economic recovery. Last month, European stocks registered their fourth consecutive monthly rise. The STOXX Europe 600 gained 0.75% to settle at a new record high closing level at 450.10 points. The German benchmark index …

Markets await the outcome of today’s meeting for members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers forming an alliance known as OPEC+. The summit comes more than a year after the first wave of the Coronavirus pandemic that caused a shock in the international …

Although Bitcoin registered some gains on Tuesday, it still recorded its worst monthly losses since 2011. The world’s largest cryptocurrency in terms of market capitalization plunged by around 37.8% in May, marking its second-worst losses since a 40% drop in September 2011. The decline is close to that of November …

The Organisation for Economic Co-operation and Development (OECD) has improved its expectations for the global economy this year, due to the rollout of the COVID-19 vaccine, which is helping in the fight against the Coronavirus pandemic. Vaccines are allowing reopening economies and businesses to resume their work as usual, according …

Markets are anticipating the upcoming monetary policy statement by the Reserve Bank of Australia (RBA), which is due on Tuesday. The RBA has been adopting a relatively dovish tone amid a rise in commodity prices, with the economy achieving a higher than expected recovery, but it is yet to be …

Recent calls for advanced economies to agree on a minimum global corporate tax rate are making more progress with the G7 group representatives promising to reach an agreement on the issue soon. The G7 finance ministers are expected to pledge support to economic recovery from the Coronavirus pandemic, as well …

Financial literacy plays a huge role in achieving economic stability, according to Secretary of the U.S. Treasury Department, Janet Yellen. Speaking to the Financial Literacy and Education Commission, Yellen said that more financial literacy is needed but is not a magic solution, especially considering structural disadvantages, wealth gaps, and income …