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People shop at the Eastern Market in Washington

U.S. Consumer Spending Rebounds, But High Inflation Eroding Demand

U.S. consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing demand, which could limit an anticipated rebound in economic growth in the third quarter.
A trader counts Pakistani rupee notes at a currency exchange booth in Peshawar

Explainer-How Worried Should We Be About Pakistan's Economy?

Concerns are rising again over the health of Pakistan's economy as foreign reserves run low, the local currency weakens and inflation stands at decades-high levels despite the resumption of an International Monetary Fund funding programme in August.
Frame grab of "Tesla bot

Elon Musk Set To Showcase Tesla's Humanoid Robot After Delay

Tesla CEO Elon Musk has said a robot business will be worth more than its cars, and on Friday investors, customers and potential workers expect to see a prototype at Tesla's "AI Day" that could prove whether the bot named "Optimus" is ready for work.
The Swiss National Bank (SNB) is pictured in Bern

Swiss National Bank Ends Era Of Foreign Currency Purchases

The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign currency in market interventions in the second quarter of 2022, data on Friday showed, ending an era of heavy foreign currency purchases to curb the franc's gains.

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