Category: Economy
-
Greece won’t be turning into Switzerland or Sweden any time soon as economy continues to suffer after years of recession
•
Greek barista Kyriakos Giannichronis has seen headlines about his country’s newly booming economy after years of stagnation — but he doesn’t feel wealthy. The Athens resident has only about 150 euros ($170) to spare at the end of the month, despite getting a good deal on rent and earning just…
-
Brits turn to ‘sweet treat economy’ for mood boosts amid economic challenges
•
Despite a blistering summer, high interest rates and looming tax rises, Britons are spending more on small luxuries such as pastries and cosmetics, a trend Barclaycard has dubbed the “confectionery economy”. According to Barclaycard, consumer spending on cards rose 1% in August after two months of decline, with nearly half…
-
Oasis reunion tour set to boost uk economy, benefiting Labour and the treasury
•
The long-awaited Oasis reunion tour is expected to deliver more than just nostalgic songs; it is expected to provide a significant boost to the British economy, a move that could be beneficial for the Labour Party. According to Paul Haywood-Schaefer, senior director at audit and consulting firm Blake Rothenberg, the…
-
US Steel Industry Sees Economy Reviving Demand in 2025
•
Breadcrumbs Path Links PMN Business U.S. steel industry executives say they are optimistic that demand for the industrial material will rebound next year, recovering from weak demand and low prices that hobbled the industry in 2024. Article author: Bloomberg News Sana Pashankar Published on August 31, 2024 • Read for…
-
PDD’s $55 billion stock crash sends warning on Chinese economy
•
(Bloomberg) — One of the last remaining bright spots in Chinese consumption is fading fast, as the country’s economic malaise saps demand for even the most accessible goods. Most Read from Bloomberg In the latest warning to global markets about the health of China’s economy, Temu owner PDD Holdings (PDD)…
-
Earnings season was a better guide to the economy than the data
•
Walmart CEO Doug McMillon The stock market’s big turnaround in August was impressive in many ways, but when I step back, there’s a big question being asked and answered: Is the Fed behind the curve? This issue involves a set of assumptions about the US economy, and if we look…
-
Household confidence in UK economy wanes after six months of growth
•
British household confidence in the economy has fallen for the first time in six months, according to the latest results from the GfK consumer confidence survey. The long-term index, which dates back to the 1970s, remained unchanged at -13, slightly above the long-term average of -18 but below Citi analysts’…
-
Household confidence in UK economy wanes after six months of growth
•
British household confidence in the economy has fallen for the first time in six months, according to the latest results from the GfK consumer confidence survey. The long-term index, which dates back to the 1970s, remained unchanged at -13, slightly above the long-term average of -18 but below Citi analysts’…
-
BOJ Governor Ueda says concerns over US economy slowdown behind recent market rout
•
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
-
Recession indicator now slows the economy, creator says
•
The creator of the inverted yield curve, a recession indicator with a decades-long track record of accuracy, said it has evolved beyond just a warning of a future slowdown and now has implications for the economy. The reversal occurs when long-term bond yields fall below short-term bond yields, an anomaly…
-
Scammers prey on young Chinese desperate for jobs in bleak economy By Reuters
•
By Ethan Wang and Ryan Wu BEIJING (Reuters) – A Chinese mother has taken to television to demand justice for her 19-year-old mentally disabled son after con artists tricked the desperate job seeker into having breast enlargement surgery in an incident that sparked widespread outrage. The teenager, who was hoping…
-
The Fed will only cut rates once this year because the US economy is too strong, market vet says
•
U.S. Federal Reserve Chairman Jerome Powell speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the semiannual monetary policy report to Congress at the U.S. Capitol on July 9, 2024 in Washington, D.C. Powell was quoted as saying in previous remarks, “We want to be more confident…
-
Don’t rush back into the stock market as more pain is coming if the economy keeps slowing, Stifel chief strategist says
•
iStock; Rebecca Zisser / P Barry Bannister of Stifel said stocks have risen since last week’s sell-off, but there is still reason for caution. The Fed’s 2% inflation target is “just a pipe dream” while the housing market is expected to recover, Bannister said. He reiterated his prediction of a…
-
Atlanta Fed Pres. Bostic: Balance of risks and economy is getting back to level
•
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
-
China test-flies biggest cargo drone as low-altitude economy takes off By Reuters
•
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…
-
China’s Economy Keeps Gliding on Just One Engine
•
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…
-
Harris Energizes Low-Income Voters Dispirited by Biden Economy
•
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…
-
How reflexive is the economy to the stock market?
•
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,…
-
U.S. keeps Vietnam as non-market economy, despite efforts to woo Hanoi By Reuters
•
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…
-
Fed rate hikes finally squeeze these parts of the economy
•
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…