Argentina's far-right libertarian President Javier Milei has issued a mega-decree, loosening rules and regulations governing the country's economy, including changes to tenant-landlord laws, labor laws, limits on exports, and the privatization of state enterprises. Critics argue that these deregulatory decisions may worsen the country's economic situation.
Nike plans to cut costs by $2 billion over the next three years, including layoffs, due to a softer revenue outlook and weaker consumer demand, especially in China and Europe.
Older workers aged 55 and up are more likely to face long-term unemployment and labor market discrimination, with only half of them successfully finding jobs, according to research from the Schwartz Center for Economic Policy Analysis at the New School for Social Research.
Sir James Dyson has criticized the UK government for not prioritizing economic growth, stating that wealth generation has become a "dirty word" and praising former Chancellor Kwasi Kwarteng's policies instead, as new figures show an increasing likelihood of recession in the country.
Canadians sitting on large cash savings should resist the urge to hoard and instead invest their excess savings into risk assets promptly, as research shows that investing a lump sum right away yields better results than waiting for a better entry point or gradually entering the market.
Congress leader Rahul Gandhi has expressed concern over the concentration of wealth in a few hands and the persistence of unemployment in India, stating that the country's economic growth is not benefitting the majority of the population. He also highlighted the need for a production economy that can provide jobs for a large number of people and criticized the government for its control over institutions and its failure to treat India as a union of states.
The text highlights various scams perpetuated by the GOP and criticizes the media for treating both parties equally, suggesting that Americans need to recognize and reject these scams.
President Biden and former President Trump have contrasting economic records, with Biden adding 14 million jobs, reducing student loan debt, and achieving record-low unemployment rates, while Trump presided over low inflation, low interest rates, and low gas prices.
India is emerging as a preferred destination for global investors over China, as concerns about Beijing's interventions in businesses grow, with India being favored by two-fifths of the 100 funds surveyed by the Official Monetary and Financial Institutions Forum (OMFIF), while China received backing from less than a quarter of the managers surveyed, putting it on par with Brazil.
India has become the preferred emerging market for sovereign wealth funds and public pension schemes over China, who face concerns over Beijing's interventions in companies and a challenging regulatory environment, resulting in potential capital loss from powerful investors with combined financial firepower of $25.9 trillion.
The housing market is experiencing similarities to the housing market of the 1980s, including high inflation, rising interest rates, a lack of inventory, and the lock-in effect, but it differs significantly from the housing market of the 2000s, with tighter lending standards and fewer new home constructions.
2024 is predicted to be the best year for consumers to buy a new car since before the pandemic, with increased vehicle supply, lower transaction prices, more deals from automakers, and easing interest rates.
The Personal Consumption Expenditures Price Index shows that prices have risen at an annualized pace of 1.9%, putting the Federal Reserve on track to meet its inflation target, but the report also indicates a decline in prices at the gas pump.
Since taking office, Argentina's new president, Javier Milei, has devalued the country's currency, leading to soaring prices and a worsening economic crisis that has left people struggling to make ends meet.
The first tranche of a $800 million Cocoa Syndicated Loan has been credited to the Bank of Ghana's account, with the funds expected to support the purchases of cocoa beans and stabilize the cedi.
Global debt has reached a new record, pushing the global debt-to-GDP ratio to 336% for the second consecutive quarter, which could lead to higher government interest expenses, increased domestic debt strains, and potential economic slowdowns.
Argentina's newly elected president is scaling back some aspects of his hard-line economic plan.
China's top planning body has identified flood control and disaster relief projects as part of a bond issuance and investment plan aimed at boosting the economy, with over 800 billion yuan of the 1 trillion yuan already earmarked for investment.
The Cuban government is considering increasing prices for fuel and electricity or reducing rations in response to the country's economic crisis, which saw a contraction in the economy and high inflation.
The Indian government disputes the International Monetary Fund's prediction that its debt-to-GDP ratio will exceed 100% by 2027-28, stating that this projection is a worst-case scenario, and highlighting that other countries have far higher debt ratios.
China's top planning body has identified a second batch of public investment projects, including flood control and disaster relief programs, as part of its efforts to boost the economy with additional government bond issuance.
The short-term inflation in Pakistan measured by the Sensitive Price Index (SPI) increased by 42.6% on an annual basis, primarily driven by a historic gas price shock and the rising prices of essential commodities such as wheat, rice, chillies, tomatoes, and sugar.
Asia's digital economy accounted for 38.5% of the combined GDP of 14 Asian economies last year, with China leading at $7.47 trillion, followed by Japan and South Korea, according to a report by the Boao Forum for Asia and the China Academy of Information and Communications Technology. Emerging innovation clusters are shifting towards Asia, reshaping the global innovation landscape.
The Mice industry in Thailand is expected to recover to 80% of the 2019 revenue level this year, but it may slow down in 2024 as pent-up demand eases, according to the Thailand Incentive and Convention Association (Tica).
Wall Street finishes its eighth consecutive week of gains as reports show decreasing inflation and potential economic growth, with the S&P 500 inching closer to its all-time high, despite a decline in Nike's revenue forecast.
Quebec's recent economic downturn, satisfying the technical definition of a recession, has sparked debate among politicians and economists over its severity and implications, with some arguing for a nuanced analysis beyond the GDP data and others highlighting potential positive aspects, such as the correction of economic imbalances. The effects of interest rate hikes and government policies are also contributing factors, and while short-term forecasts remain challenging due to ongoing labor strikes, there is cautious optimism for a rebound and lower interest rates in the future.
The U.S. inflation rate fell in November for the first time since 2020, with price pressures continuing to subside and the increase in inflation over the past year slowing to the lowest level since February 2021, as the Federal Reserve aims to slow inflation to 2% or even less.
Bank of Canada Governor Tiff Macklem is facing criticism for his handling of interest rates as Canadians struggle with financial strain, soaring mortgage payments, and a stalled economy, but he remains committed to doing his job and achieving price stability. Despite the criticism, Macklem hopes that by returning inflation to the bank's target and avoiding a recession, he can regain his reputation and be seen as a hero again in 2024. However, there is still uncertainty surrounding interest rate cuts and disagreement between the Bank of Canada and financial markets. Macklem remains focused on being transparent and forthright in his approach.
The predicted recession in 2023 did not occur due to continued economic growth, high consumer spending, and a decrease in inflation, leading economists to believe in a successful soft landing rather than a recession.
Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party, asserts that recent government measures have led to macroeconomic stability in Ghana, with decreased inflation and lower prices of goods and services as evidence of economic revitalization.
The majority of Americans are spending within their means and not going into debt this holiday season, with many planning to buy fewer gifts for others and themselves, particularly among lower-income individuals.
The United States has reached a "significant milestone" in the fight against inflation as prices fell for the first time in over a year, according to President Biden's chief economic adviser, Lael Brainard, who also expressed confidence in the country's robust economic growth and the potential for reining in inflation without major job losses. However, Brainard highlighted potential risks, including geostrategic threats such as the ongoing Russian invasion of Ukraine and escalated attacks on commercial ships by Yemen's Houthi militants.
The United States has reached a significant milestone in combating inflation as prices fell on a month-to-month basis for the first time since April 2020, showing progress in a context of solid economic growth and employment, according to President Joe Biden's chief economic adviser, Lael Brainard. However, she also emphasized the need to remain vigilant to potential risks, including geostrategic factors and the redirection of container vessels due to escalating tensions in the Red Sea.
The Bank of England may stop calling for higher interest rates as inflation cools, in response to a fall in inflation and worsening economic conditions, including the possibility of a recession; in addition, the UK's post-pandemic recovery is worse than that of any other G7 economy except for Germany.
President Biden's approval rating continues to decline despite positive news of declining inflation, with voters expressing dissatisfaction with his handling of immigration and other issues.
BRICS Pay, the alternative payment system developed by the BRICS alliance, could pave the way for the creation of a BRICS currency in 2024 and help eliminate reliance on the US dollar, according to Fortune Magazine.
A key measure of inflation in the US cooled notably in November, slowing price increases and providing relief for both the Federal Reserve and voters; this suggests that the economy may be heading towards a soft landing with moderating inflation.
India's finance ministry has refuted the International Monetary Fund's caution regarding the country's government debt vulnerabilities, stating that the IMF's extreme scenario is not a "fait accompli" and highlighting that India's debt levels are lower than those of other countries.
National home prices are currently 9.4% overvalued and this overvaluation is expected to continue, which will impact affordability and constrain homebuyers, particularly entry-level and first-time buyers, according to a new report by Fitch Ratings. The rising home prices and high mortgage rates have led to a decline in affordability, with the majority of Americans unable to afford a median-priced home. The housing market also faces a shortage of inventory, with experts estimating the need for millions of additional housing units. While recent data from homebuilders is encouraging, the outlook for housing affordability remains uncertain.
Javier Milei's decree deregulating Argentina's economy faced resistance in Congress, the justice system, and the streets, potentially frustrating his plans to dismantle the State, despite initial market optimism.
The share of credit card debt falling behind has increased, and Goldman Sachs estimates that credit card delinquencies will continue to rise in 2024 before gradually improving, with low-income card holders being most affected by the trend. The rise in delinquencies is attributed to high credit card interest rates and the resumption of federal student loan payments, but it is not a result of labor market distress or unsustainable spending.
Baby boomers, particularly those over the age of 70, have seen a significant increase in their wealth during the pandemic, with their share of the country's wealth reaching a record high of 30%, equivalent to $43.3 billion, while younger generations have experienced a decline in their share of wealth, revealing a significant wealth disparity exacerbated by the economic impact of the pandemic.
Billionaire Warren Buffett advises poor and middle-class individuals to avoid wasting money on unnecessary expenses such as extravagant homes, new cars, dining out, credit card expenditures, gambling, risky investments, latest gadgets, low-quality products, wasteful purchases, and unused subscriptions.
US consumer prices fell 0.1% in November, with annual prices climbing 2.6% - the slowest rate since the previous month and below estimates, indicating that inflation is cooling and suggesting that the Federal Reserve may cut rates in March.
Sales of new U.S. single-family homes fell to a one-year low in November due to a shortage of previously owned homes, but the decline is expected to be temporary as demand for new construction remains strong.
India's GDP is projected to grow at a resilient rate of 6.5% in the next fiscal year, making it one of the fastest-growing nations in the world, with demand expected to remain strong in various sectors including cement, electricity, and petroleum products, according to Fitch Ratings.
Fox News offers live shows and streaming of their channels and radio coverage, with popular programs such as "America Reports" and "Your World with Neil Cavuto."
The Federal Reserve's interest rate hikes are putting pressure on inflation, which fell in November for the first time since early 2020, and it is expected to continue moving down towards the Fed's target of 2% annually, potentially leading to rate cuts in 2024.
Consumer sentiment in the US finished 2023 at a five-month high, indicating increased confidence in the economy due to factors such as cheaper gas prices, slowing inflation, a stock-market rally, and a strong labor market.
The importance of finance in climate action will take center stage in next year's climate conversations, with emerging economies demanding funds for their transition and the need for creative financing solutions in the clean energy sector.