Author: Global Desk

President Donald Trump confirmed on Friday that the United States plans to skip the upcoming G-20 Summit in South Africa, raising eyebrows among global leaders and analysts who see the move as a break from longstanding diplomatic norms. The summit, scheduled for late November in Pretoria, brings together leaders from the world’s largest economies to discuss pressing issues such as climate change, trade, global finance, and geopolitical tensions. Trump’s Statement and Rationale In a statement released via his political communications team, Trump said the decision reflects a desire to focus on domestic economic and security priorities, as well as concerns over the effectiveness and direction…

As global markets undergo seismic shifts in capital distribution, Bank of America (BofA) is doubling down on one of the most lucrative trends of the decade: the explosion of wealth among the ultra-rich in the United States. In a recent address to investors, CEO Brian Moynihan outlined what he described as a “huge opportunity” in the domestic wealth management business, with particular focus on ultra-high-net-worth (UHNW) individuals — those with investable assets exceeding $30 million. “We’re looking at an unprecedented transfer and expansion of wealth in the United States,” Moynihan said. “This isn’t just about managing assets — it’s about being at the center of how the…

In a move that underscores the United Arab Emirates’ growing position as a global investment hub, the Office of H.H. Sheikh AbdulHakim Al Maktoum Group Holdings has formally extended an invitation to U.S.-based investors to participate in what it calls the “UAE Economic Revolution” — a new wave of high-value projects across real estate, financial markets, technology, and hedge fund sectors. The initiative aims to bridge international capital with the UAE’s dynamic, innovation-driven economy — one that has rapidly evolved from an oil-based model to a diversified ecosystem of smart cities, digital finance, and sustainable development. With this announcement, Sheikh AbdulHakim Al Maktoum Group Holdings is positioning itself…

President Donald Trump’s new health policy move — expanding Medicare coverage to include popular weight-loss and diabetes drugs like Ozempic and Wegovy — is sparking one of the most heated economic and political debates of 2025. The plan, hailed by supporters as a “revolution in preventative healthcare,” is estimated to add $35 billion to the national debt over the next decade, according to early fiscal projections. Critics, however, see it as a costly political gambledesigned to win over middle-class voters and pharmaceutical giants ahead of the next election cycle. The proposal represents a dramatic shift in U.S. health policy, potentially transforming how Medicare handles chronic conditions such…

For months, economists and investors have debated whether the U.S. economy was heading toward a recession—or already in one. But according to one of Wall Street’s top analysts, the truth may be more surprising: Corporate America’s private-sector recession is already over. After three turbulent years of contraction across major industries, the private economy—spanning manufacturing, real estate, and parts of tech—appears to have quietly bottomed out this past spring. The rebound, experts say, may not yet be visible in headline GDP numbers or consumer sentiment, but it’s showing up in corporate earnings, hiring patterns, and capital spending. This isn’t the kind of recession…

In a landmark political moment for New York City, Zohran Mamdani has made history by winning the New York City mayoral race, becoming the first South Asian and Muslim to hold the city’s top office. His decisive victory marks a stunning milestone in the city’s political evolution — one that blends grassroots energy, progressive ideals, and a resounding call for equity and reform in the post-pandemic era. A Progressive Breakthrough in the Heart of the City Mamdani, a 33-year-old state assemblyman from Queens, surged to victory on a platform that promised to reimagine New York’s future through housing justice, economic inclusion, climate resilience, and…

In a landmark act of philanthropy, billionaire author and philanthropist MacKenzie Scott has donated $80 million to Howard University, marking one of the largest individual gifts in the school’s 158-year history. The donation, announced this week, arrives at a critical moment for the renowned historically Black university, as a prolonged U.S. government shutdown stalls the release of key federal funds that Howard depends on for research, infrastructure, and student support. University officials hailed the contribution as both “transformative” and “timely,” underscoring its potential to stabilize operations during financial uncertainty while advancing Howard’s mission to educate and empower Black scholars and leaders across the nation. A…

The private credit boom that swept through global markets over the past few years is showing early signs of strain. Once hailed as the savior of corporate financing during an era of high interest rates and tight liquidity, private lenders are now tightening their grip. Behind closed doors, banks and credit funds are quietly preparing for what some are calling the “next phase” of the credit cycle — one that could see a surge in corporate distress, debt restructurings, and rising defaults. According to financial insiders and restructuring attorneys, lenders are taking a far more defensive posture than in previous years.…

As the U.S. holiday travel season approaches — one of the busiest and most profitable times of the year for airlines — United Airlines and American Airlines are issuing an urgent plea to Congress: end the government shutdown before it brings the nation’s air travel system to its knees. Both carriers have warned that the ongoing political standoff in Washington, which has left thousands of air traffic controllers, TSA officers, and FAA safety inspectors working without pay, could soon trigger widespread flight disruptions, jeopardize safety standards, and stall the industry’s fragile recovery from years of pandemic-era turbulence. A Brewing Crisis in the Skies The U.S. aviation system…

When Amazon announced that it would cut 14,000 jobs across multiple divisions, industry analysts and employees alike assumed it was a familiar story of corporate belt-tightening — another giant trimming its workforce to protect margins or make room for automation. But CEO Andy Jassy says that interpretation misses the point entirely. In a recent interview, Jassy emphasized that the layoffs were not driven by cost reduction or the rise of artificial intelligence replacing human labor. Instead, he called the decision a “cultural recalibration” — a move to restore focus, accountability, and innovation at a company that has grown exponentially over the past decade.…