Economy & Finance

Economy, finance, markets, luxury and geopolitics — macro signals that influence the art market and collecting.

Most recent stories

China's AI-powered robots poised to become next export machine economy-finance
China is preparing for a 'China shock 3.0' driven by AI-powered robots, leveraging its manufacturing lead, the world's largest training ground, and leading open-source AI models.…
Citi CEO Jane Fraser outlines two AI races shaping banking's future economy-finance
Jane Fraser, CEO of Citi, the third-largest US bank, stated that the global financial sector is engaged in two simultaneous AI races. The first is offensive: applying AI to…
Western 'overcapacity' claims target China's industrial rise economy-finance
Concerns are rising among Western economies regarding China's excessive industrial capacity, especially in the renewable energy sector. The critical question is whether this…
Three shocks end Asia's 'just in time' supply chain model economy-finance
Three major disruptions in six years—Covid, the Ukraine conflict, and the Hormuz crisis—have ended Asia's commitment to efficiency-at-all-costs supply chains. According to Jakir…
US Bitcoin ETFs End 10-Day Outflow Streak with $222M Inflows as Bitcoin Rebounds Above $61K economy-finance
U.S. spot Bitcoin ETFs attracted $221.7 million in net inflows on Thursday, ending a 10-day streak of outflows that saw $2.73 billion withdrawn. The reversal followed…
Markus Söder's Bürgergeld Cuts Ignore Rising Döner Prices economy-finance
Bavarian Minister-President Markus Söder (CSU) has called for reducing Bürgergeld to the 'absolute constitutional minimum,' sparking debate about the real cost of living for…
Dean Baker: Bitcoin crash benefits society, AI boom also dangerous economy-finance
Economist Dean Baker argues that the cryptocurrency market is a speculative bubble with no intrinsic value, and that a collapse of the crypto market would benefit the majority of…
Merz Defends Germany's Defence Spending After Trump Ridicules Efforts economy-finance
German Chancellor Friedrich Merz pushed back against US President Donald Trump's criticism of Germany's defence spending, calling Trump's remarks "ridiculous" on Friday. Merz…
German Politicians Urged to Consider Universal Citizen Pension economy-finance
The article argues that Germany's pension system is fundamentally unfair and that proposed reforms by the grand coalition will not address its core problems. The author advocates…
Germany adopts tougher stance on China trade with 34-point economic package economy-finance
Germany’s governing coalition has unveiled a comprehensive 34-point strategy to revitalize its struggling economy, emphasizing a firmer approach to trade relations with China. The…
Analysts dismiss AI stock panic over Meta cloud rumour as 'erroneous' economy-finance
On Thursday, a worldwide sell-off wiped out billions in semiconductor stocks as investors mistakenly viewed Meta Platforms' possible shift to cloud services as an indication of an…
China signals willingness to reduce EU trade surplus amid escalating tensions economy-finance
During talks in Brussels this week, Chinese Commerce Minister Wang Wentao indicated to EU trade chief Maros Sefcovic that China is open to exploring ways to reduce its massive…
Pittsburgh Symphony Budget Rises to $42M on Film Concerts economy-finance
The Pittsburgh Symphony Orchestra has increased its budget to $42 million, a $7 million jump attributed to revenue from live-with-film concerts. These special performances are now…
Visa, Mastercard, Coinbase Back Open USD Stablecoin Consortium economy-finance
Over 140 firms including Visa, Mastercard, and Coinbase have launched Open Standard, a consortium introducing Open USD (OUSD), a U.S. dollar-pegged stablecoin. Unlike…
Merz's Economic Plans Ignore Climate Crisis economy-finance
Friedrich Merz, German Chancellor and CDU leader, presented the results of the coalition committee on Thursday, focusing on economic deregulation while disciplining wage earners…
US job growth misses forecasts, inflation and wage stagnation persist economy-finance
In June, the United States saw an increase of just 57,000 nonfarm payroll jobs, significantly lower than the 115,000 that economists from Dow Jones Newswires and the Wall Street…
German coalition proposes weakening dismissal protection for high earners economy-finance
A new coalition paper from Germany's CDU/CSU and SPD proposes allowing employers to dismiss employees earning above €180,000 annually more easily, even if the dismissal is…
US manufacturing group urges Trump to block USMCA renewal over China auto investments in Mexico economy-finance
The Alliance for American Manufacturing has called on the Trump administration to block the renewal of the US-Mexico-Canada Agreement (USMCA), alleging that Chinese automakers are…
German Coalition Agrees on Higher 'Rich Tax' for Top Earners economy-finance
The coalition committee of CDU, CSU, and SPD has agreed on an income tax reform partially financed by a higher 'rich tax'. Despite its name, the tax targets not the wealthiest but…
German industry turns to arms: Daimler Truck lands major military order economy-finance
Daimler Truck, a German DAX-listed company, announced a major order at the start of the year to supply 7,000 military trucks to the French army in partnership with French military…
CXMT's $4.3B IPO: Soaring profits, US export threat, and HBM race economy-finance
ChangXin Memory Technologies (CXMT) is preparing for a 29.5 billion yuan ($4.3 billion) IPO on Shanghai's Star Market. The Hefei-based DRAM maker has seen a massive profit surge…
Trump Earned Over $1.4 Billion from Crypto in First Year Back in Office economy-finance
In his first year back in the White House, President Donald Trump accrued over $1.4 billion from cryptocurrency-related activities, as revealed in newly published U.S. financial…
PDD Holdings expands in Xiongan after record fine economy-finance
PDD Holdings, operator of Temu and Pinduoduo, is expanding in Xiongan New Area, China's state-backed 'city of the future,' months after a record food-safety fine and regulatory…
Chinese tech giants launch share buy-backs to revive investor confidence economy-finance
To tackle increasing doubt among investors, several big names in Chinese tech, like Tencent, Alibaba, Meituan, and Xiaomi, have started buying back their shares. Tencent made a…
US refuses to renew USMCA trade pact, citing Canada-China ties economy-finance
The United States has opted not to extend the USMCA trade arrangement, largely due to apprehensions voiced by US Trade Representative Jamieson Greer regarding Canada's strategies…
NYC Mayor Mamdani Approves Record $323M Funding for Culture economy-finance
Mayor Zohran Mamdani and the City Council have approved a groundbreaking budget of $323.8 million for the New York City Department of Cultural Affairs (DCLA) for Fiscal Year 2027.…
Marcel Fratzscher: Kündigungsschutz nicht schuld an Wirtschaftsflaute economy-finance
Der Koalitionsausschuss tagt am heutigen Mittwoch, während die Wirtschaftslobby auf eine Lockerung des Kündigungsschutzes drängt, um Wachstum zu fördern. Start-up-Verbandschefin…
Trump reports over $1.4 billion from crypto ventures in ethics disclosure economy-finance
US President Donald Trump reported more than $1.4 billion in income from his family's crypto ventures in the latest financial disclosure, revealing that digital assets now…
US to Exit USMCA, Triggering Decade-Long Trade Pact Wind-Down economy-finance
So, on Wednesday, the Trump administration is likely going to announce that they won’t be extending the US-Mexico-Canada Agreement, or USMCA. This move would kick off a six-year…
UK investors sue Binance and Zhao Changpeng for US$200 million economy-finance
Almost 1,700 investors from the UK are taking legal action against Binance and its CEO, Zhao Changpeng, seeking a minimum of £150 million (US$200 million). They claim that the…
Tom Lee's BitMine Adds $43M in Ethereum While Strategy Halts Bitcoin Buys economy-finance
BitMine, chaired by Tom Lee, acquired 27,084 ETH for $43 million, boosting its total Ethereum holdings to over 5.7 million ETH worth $9 billion, making it the world's largest…
Iraq's 14M Barrels of Trapped Oil Finally Exit Persian Gulf economy-finance
Over the past ten days, approximately 14 million barrels of Iraqi oil that were stranded inside the Persian Gulf due to the Middle East conflict have successfully transited…
AI chip demand drives up prices for power semiconductors and components economy-finance
The rise in semiconductor prices, fueled by AI demand, is now impacting not just GPUs and memory chips but also the materials and manufacturing inputs needed for production.…
Kreatives Sicherheitsnetz: Finanzplanung für selbstständige Künstler in Deutschland economy-finance
Der Freelancer-Kompass 2026 zeigt, dass 55 Prozent der Freiberufler in Deutschland sich um ihre finanzielle Situation im Ruhestand sorgen – der höchste Wert seit Beginn der…
JD.com's Ceconomy Bid Clears German Review, Faces EU Subsidy Probe economy-finance
Chinese e-commerce giant JD.com's €2.2 billion bid to acquire Europe's largest electronics retailer Ceconomy has been approved by Germany's Federal Ministry for Economic Affairs…
Russia's 1990s Shock Therapy: Economic Collapse and Oligarchs economy-finance
After the Soviet Union dissolved in December 1991, Russia inherited a broken command economy. President Boris Yeltsin and his allies implemented 'shock therapy'—rapid price…
China's education blueprint targets tech talent and self-reliance economy-finance
On Monday, a blueprint released by the State Council presented 15 key initiatives aimed at elevating China’s status as an educational leader, in response to talent gaps caused by…
Bank of England Updates Form PL Definitions for National Accounts Alignment economy-finance
The Bank of England has released Statistical Notice 2026/06, detailing revisions to the definitions for Form PL (Profit and Loss) aimed at enhancing consistency with the ONS UK…
MK2 raises public funds for cinema renovation without stock market or external groups economy-finance
Elisha and Nathanaël Karmitz, co-owners of the independent cinema circuit MK2, are raising funds from the general public through a crowdfunding platform to radically transform the…
Royalty Pharma opens Hong Kong base as Chinese biotech deals surge economy-finance
In May, Royalty Pharma, recognized as the largest purchaser of biopharmaceutical royalties globally, inaugurated its inaugural office in the Asia-Pacific region, located at IFC in…

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