latest news in economy

US and Israel Kill Iranian Supreme Leader, Sparking Global Oil Supply Fears

US and Israel Kill Iranian Supreme Leader, Sparking Global Oil Supply Fears

Washington, Saturday, 28 February 2026.
On February 28, 2026, joint US-Israeli strikes killed Supreme Leader Ayatollah Ali Khamenei. Markets brace for extreme volatility and surging oil prices as the Strait of Hormuz faces potential closure.

How Trump’s Tariffs Are Rewriting Global Trade Rules and Raising Prices

How Trump’s Tariffs Are Rewriting Global Trade Rules and Raising Prices

Washington D.C., Saturday, 28 February 2026.
Despite protectionist goals, the U.S. hit a record $1.23 trillion trade deficit in 2025, while shifting supply chains drove a 90 percent surge in computing imports from Mexico.

Billion-Dollar Collateral Gap at UK Firm Rattles Major Global Banks

Billion-Dollar Collateral Gap at UK Firm Rattles Major Global Banks

New York, Saturday, 28 February 2026.
A shocking £930 million collateral shortfall, linked to alleged asset double-pledging at UK lender MFS, has triggered a sharp selloff across Wall Street’s major financial institutions.

Private Equity Industry Pivots to Retirement Accounts as Returns Stall

Private Equity Industry Pivots to Retirement Accounts as Returns Stall

New York, Saturday, 28 February 2026.
As private equity firms returned only 14% of managed capital in 2025, the push to access the $10 trillion 401(k) market raises urgent concerns regarding liquidity and risk for savers.

Early IRS Data Reveals Average Tax Refund Surges Over 10% for 2026 Season

Early IRS Data Reveals Average Tax Refund Surges Over 10% for 2026 Season

Washington, Saturday, 28 February 2026.
Early filers are seeing refunds average $3,804, a significant 10.2% increase over last year, signaling a potential liquidity boost for households under the new tax laws.

Strait of Hormuz Blockade Risks Sending Oil Prices Toward $110

Strait of Hormuz Blockade Risks Sending Oil Prices Toward $110

Tehran, Saturday, 28 February 2026.
With 20% of global oil transiting this choke point, analysts warn a potential disruption could drive crude prices to $110, threatening critical supply chains worldwide.

Oklahoma City Secures Top Rank for Affordability Among Large U.S. Metros

Oklahoma City Secures Top Rank for Affordability Among Large U.S. Metros

Oklahoma City, Saturday, 28 February 2026.
With housing expenses more than 40% below the national average, Oklahoma City ranks as the most affordable large metropolitan area, offering a composite cost of living score of 81.2.

Hot Inflation Data and AI Jitters Send Dow Tumbling Over 500 Points

Hot Inflation Data and AI Jitters Send Dow Tumbling Over 500 Points

New York, Friday, 27 February 2026.
Markets sank as January producer prices unexpectedly surged 0.5%, reigniting rate fears. Compounding the turmoil, CoreWeave shares collapsed 20%, signaling deepening investor anxiety regarding the profitability of AI infrastructure.

US Grants Presidential Permit for $2.5 Billion Cable Linking Puerto Rico and Dominican Republic Grids

US Grants Presidential Permit for $2.5 Billion Cable Linking Puerto Rico and Dominican Republic Grids

San Juan, Friday, 27 February 2026.
The U.S. Department of Energy has approved Project Hostos, a $2.5 billion privately funded undersea cable connecting Puerto Rico and the Dominican Republic. Slated for operation in 2031, this critical infrastructure aims to stabilize Puerto Rico’s fragile grid and power over 600,000 homes.

Severe Weather Delays Northeast Deliveries While National Propane Supplies Remain Strong

Severe Weather Delays Northeast Deliveries While National Propane Supplies Remain Strong

Washington, Friday, 27 February 2026.
Despite surging heating demand and blizzard-blocked roads in the Northeast, data confirms national propane inventories remain strong, signaling a logistical bottleneck rather than a supply crisis.