Economy

Gordon Moore, the Intel Corp. co-founder who set the breakneck pace of progress in the digital age with a simple 1965 prediction of how quickly engineers would boost the capacity of computer chips, has died. He was 94. Moore died Friday…
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From Zimbabwe, where many must work at night because it's the only time there is power, to Nigeria where collapses of the grid are frequent, the reliable supply of electricity remains elusive across Africa. The electricity shortages that…
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The multi-regulator U.S. Financial Stability Oversight Council (FSOC) agreed Friday that the U.S. banking system remains "sound and resilient" despite stress on some institutions, the U.S. Treasury said in its latest statement to calm…
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Adeline Lefebvre was scrunched up next to a newsstand as a swelling crowd of demonstrators pushed past her at the Place de la Bastille — the iconic Paris square that earned its fame from French Revolution days. Rock music blared and the…
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Worries about recent bank failures and bailouts are rippling through the world economy, from New York to Beijing, and central bankers are working to calm depositors and financial markets. Mike O’Sullivan reports from California, where a…
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The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system.…
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Sri Lanka has secured a $ 2.9 billion loan from the International Monetary Fund, raising hopes the funding will mark the beginning of economic revival in a country confronting its worst crisis in decades.   The IMF approval Monday came…
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Amazon plans to eliminate 9,000 more jobs in the next few weeks, CEO Andy Jassy said in a memo to staff Monday.  The job cuts would mark the second largest round of layoffs in the company's history, adding to the 18,000 employees the tech…
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When the U.S. government announced this month that it had stepped in to take over Silicon Valley Bank (SVB) and Signature Bank, it was a 90-year-old Great Depression-era agency that took the lead in assuring depositors that their funds were…
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UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at preventing a wider international banking crisis, but Asian equities sank Monday on lingering worries about the sector.…
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