latest news in economy
Former Treasury Official Backs Canadian Retaliation Against New American Tariffs
Ottawa, Wednesday, 7 October 2026.
Former Treasury Secretary Janet Yellen urged allies to counter U.S. tariffs, calling the trade treatment appalling as U.S. effective tariffs reach 11.2% and raise domestic household costs.
Famous Investor Bets Against Rising Tech Stocks Warning of Imminent Bubble Burst
New York, Tuesday, 6 October 2026.
Michael Burry is increasing leveraged bets against artificial intelligence stocks, warning that circular tech spending masks severe valuation risks despite major market indexes reaching record highs.
Global Gas Car Sales Fall Below 50 Percent as Energy Crisis Drives Electric Vehicle Adoption
New York, Tuesday, 6 October 2026.
Gasoline-only vehicle sales plummeted to 49% globally in early 2026, dropping below 50% for the first time in history as severe fuel price shocks accelerated consumer adoption of electric and hybrid alternatives.
East Asia Regional Economic Growth Forecast Raised to 4.5 Percent Driven by High Tech Exports
Washington, Tuesday, 6 October 2026.
The World Bank raised its 2026 East Asia growth forecast to 4.5%, driven by artificial intelligence exports, but warned of severe risks as non-tech trade growth remains negative.
How New Small Business Administration Rules Impact Refinancing Options
Washington, Tuesday, 6 October 2026.
Revised Small Business Administration regulations taking effect this October alter how companies manage high-cost merchant debt, making loan subordination essential to prevent approved refinancing deals from failing.
Artificial Intelligence Investment Drives Growth as Real Wages Fall Behind Inflation
Washington, Tuesday, 6 October 2026.
Massive corporate investment in artificial intelligence currently fuels over half of U.S. economic growth, even as persistent inflation forces consumers to drain savings to cover declining real wages.
