Category: Economy
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China test-flies biggest cargo drone as low-altitude economy takes off By Reuters
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Written by Ryan Wu BEIJING (Reuters) – China has launched the largest cargo drone yet designed for civilian use, as the world’s biggest drone maker ramps up test flights of autonomous aerial vehicles that could eventually carry everything from takeaway meals to people. The two-tonne, twin-engine aircraft took off on…
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China’s Economy Keeps Gliding on Just One Engine
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Breadcrumbs Path Links PMN Business China’s economy has relied on industrial production to keep growing this year, and data next week is expected to provide evidence of the strength of that support. Article author: Bloomberg News Katya Dmitrieva and Craig Stirling Published on August 3, 2024 • Read for 7…
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Harris Energizes Low-Income Voters Dispirited by Biden Economy
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Breadcrumbs Path Links PMN Business Low-Income Americans Pushed Biden to Win 2020 — Then Turned on Him Article author: Bloomberg News Amara Omiokoi, Mark Niquette, and Jeff Green Published on August 3, 2024 • Read for 6 minutes You can save this article by registering for free here. Or log…
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How reflexive is the economy to the stock market?
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The Nasdaq is down 10.4% since its high just three weeks ago, but when you look at the broader picture, it’s a minor correction after a stunning rally. Nasdaq Weekly If stocks can stabilize here, this episode will quickly be forgotten. The problem is that we may see more selling,…
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U.S. keeps Vietnam as non-market economy, despite efforts to woo Hanoi By Reuters
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By David Brunstrom and Phuong Nguyen WASHINGTON/HANOI (Reuters) – The U.S. Commerce Department said on Friday it will continue to classify Vietnam as a non-market economy, a disappointing decision for Hanoi, which the United States has been courting as part of its efforts to counter China. Vietnam has long sought…
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Fed rate hikes finally squeeze these parts of the economy
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In the year since the Federal Reserve raised interest rates to their highest levels in more than two decades, the central bank has succeeded in easing the pressure on the overheating U.S. economy. But the rise in borrowing costs has also had some unexpected effects. High-income households reap the benefits…
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Scholz Is Failing to Engineer a Liftoff for the German Economy
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Breadcrumbs Path Links PMN Business Germany’s inability to generate real growth is casting a shadow over the economy’s long-term prospects – and over the political hopes of Chancellor Olaf Scholz’s three ruling parties. Article author: Bloomberg News Marilyn Martin Published on July 28, 2024 • Read for 4 minutes You…
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Yellen says $3T needed annually to ensure shift to low-carbon global economy (NASDAQ:ICLN)
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GetYourPic/iStock via Getty Images US Treasury Secretary Janet Yellen said on Saturday that the global transition to a low-carbon economy will It requires $3 trillion in new capital every year. By 2050, which is far beyond current funding. Speaking in Brazil after a meeting with G20 finance ministers to discuss…
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Alby: A Hub For The Bitcoin And Lightning Economy
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Company Name: Alby Founders: Michael Bowman, Moritz Kaminsky, and Rene Aron Date of Establishment: Open source project founded in December 2020 / Company founded in March 2022 Headquarter Location: Fully remote control Amount of Bitcoin in the vault: Unavailable Number of Employees: 10 website: https://getalby.com/ Public or private? private Michael…
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Alby: A Hub For The Bitcoin And Lightning Economy
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Company Name: Alby Founders: Michael Bowman, Moritz Kaminsky, and Rene Aron Date of Establishment: Open source project founded in December 2020 / Company founded in March 2022 Headquarter Location: Fully remote control Amount of Bitcoin in the vault: Unavailable Number of Employees: 10 website: https://getalby.com/ Public or private? private Michael…
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AI could be the best long-term disinflationary force in a challenging global economy
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Inflation has come down from last year’s peak, but as the latest figures show, it’s still not as low as anyone would like. The Fed has also raised interest rates 11 times and kept them at 23-year highs. Will that be enough? Perhaps, but some economists say we’re in a…
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AI could be the best long-term disinflationary force in a challenging global economy
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Inflation has come down from last year’s peak, but as the latest figures show, it’s still not as low as anyone would like. The Fed has also raised interest rates 11 times and kept them at 23-year highs. Will that be enough? Perhaps, but some economists say we’re in a…
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Trump tariffs at 60% would slam China’s economy, UBS says
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Republican presidential candidate Donald Trump has said he could impose a 60% tariff on Chinese imports if he returns to the White House, and a new analysis predicts that would significantly slow the world’s second-largest economy and push it to the brink of recession. Given the effects of Trump’s tariffs…
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6 reasons why U.S. economy may not achieve soft landing: BCA By Investing.com
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BCA Research has identified six key reasons why the U.S. economy may struggle to achieve a soft landing, as explained in its latest note, “Cold Hard Facts: Positioning for an Economic Downturn.” Here are the six factors they believe could prevent a soft landing: 1. Consumer Drainage: The company notes…
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WSJ: China’s Economy Is in Trouble – Xi Jinping leaving long-running problems to fester
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The Wall Street Journal is closed but if you can get through it you will find that it paints a bleak picture of the Chinese economy: Growth is slowing and becoming increasingly unbalanced, supported by exports and a surge in factory investment, while much of the rest of the economy…
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Saudi Arabia Crown Prince’s Transformation Stress-tests Economy and Stretches Petrowealth
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Breadcrumbs Path Links PMN Business Saudi Arabia faces the most critical moment yet in the process of reinventing its economy. Article author: Bloomberg News Abeer Abu Omar Published on July 14, 2024 • Read for 5 minutes You can save this article by registering for free here. Or log in…
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GOP’s Vision For 2024: Bitcoin Mining And Self-Custody As Catalysts For US Economy
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In a major shift led by Republican lawmakers in the United States, led by former President Donald Trump, Pro-crypto stanceThere is growing support for Bitcoin (BTC) adoption. On Monday, a committee of the Republican National Committee approved a draft of the party’s 2024 platform that includes strong support for the…
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Interest rates be damned: 3 reasons JPMorgan’s commercial banking clients are optimistic about the U.S. economy
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Federal Reserve interest rates, which influence global lending rates, are higher than they have been in 23 years. But that’s not stopping JPMorgan Chase clients from feeling optimistic. In a survey of more than 100 founders and senior business leaders at companies generating up to $2 billion each, more than…
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US economy adds 206,000 jobs in June as labour market shows signs of cooling
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The U.S. economy added 206,000 jobs in June, indicating a slight slowdown in the labor market, according to the latest data from the Bureau of Labor Statistics. The figure was closely in line with economists’ expectations and represented a modest decline from the revised 218,000 jobs added in May. The…
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UK election-winner Starmer inherits weak economy with ‘no magic wand’ By Reuters
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By William Schomberg LONDON (Reuters) – Britain’s incoming prime minister, Keir Starmer, has spent his election campaign accusing Rishi Sunak’s Conservative Party of “14 years of economic failure” but has no clear quick fix to pull the country out of its slow growth rut. Living standards have stagnated since the…