Argentine former central banker Luis Caputo met with bank officials to outline the economic plans of President-elect Javier Milei, emphasizing the need for an abrupt economic adjustment and orthodox policies to tackle inflation and rebuild reserves.
Black Friday shopping is a significant indicator of the state of the American economy, reflecting consumer sentiment and providing insight into where the economy is headed.
Approximately 22% of the construction cones in downtown Montreal serve no purpose, indicating little success in reducing their number despite efforts to make them less visible and remove them promptly after work concludes.
Turkey's central bank has raised interest rates to 40 percent, the highest level in nearly two decades, in an effort to control the country's skyrocketing inflation and the devaluation of the lira.
Shark Tank investor Kevin O'Leary criticizes people for wasting money on unnecessary expenses such as buying expensive coffee and purchasing lunch at work, which he claims can amount to $15,000 a year.
The Federation of Kenya Employers warns of more job losses due to the implementation of the Finance Act, 2023, which has negatively impacted cash flows and led to a 3% reduction in formal private sector jobs and potential job cuts by 40% of employers.
German Chancellor Olaf Scholz promises swift action to address a budget crisis caused by a court ruling, as Germany faces economic challenges and a decline in business confidence due to the effects of inflation and Russia's invasion of Ukraine.
Labour's ambition to spend £28bn a year on green initiatives is unlikely to be met due to the state of the public finances, according to a source close to Sir Keir Starmer, casting doubts on the party's flagship policy.
German Chancellor Olaf Scholz promises quick action to address a budget crisis caused by a court ruling that could disrupt spending on climate change efforts and the impact of high energy prices; Germany's struggling economy contracted 0.1% in Q3 and is expected to be the only major economy to shrink this year.
The US job market is showing signs of slowing down, with predictions of decreased job growth and wage growth, making it a good time for workers to take stock of their career progression and consider making a move. Employers are also less desperate to fill openings, so job seekers will have to search harder for great opportunities. It is recommended to focus on skills rather than job titles, research hot sectors, be open to hybrid and on-site roles, be prepared to move quickly, and consider contract or shorter-term positions.
The recent devaluation of Malawi's currency has led to an increase in the cost of living, making it difficult for civil servants, including nurses, to make ends meet. The 10 percent increment in wages announced by the government is seen as insufficient by trade unions, who are demanding a revision by a minimum of 44 percent to address the economic downturn.
The U.S. economy showed slight growth in early November, with the S&P Global "flash" U.S. services index rising to its highest level in four months.
U.S. business activity remains steady in November, but employment in the private sector has declined for the first time in over three years, indicating an expected economic slowdown in the fourth quarter.
Multinational companies in China are experiencing a significant decline in confidence, as reflected in lower ratings and reduced expectations for investment and recruitment, which highlights the need for more aggressive measures from Beijing to attract foreign investors and revitalize the market.
Argentina's President-elect Javier Milei has declared the closure of the country's central bank as a "non-negotiable matter," amid rumors of a potential compromise on the issue, while also making changes to his proposed cabinet.
Big Four accountancy firm KPMG has frozen pay for 12,000 UK employees and will not provide pay rises unless there is a promotion, following job cuts and pay freezes in its deals advisory arm due to a slowdown in dealmaking.
The US economy is expected to experience a sharp slowdown in growth in 2024 due to high interest rates and the cumulative effect of high inflation over the past three years.
Small businesses are crucial to the US economy, accounting for almost all business entities, employing nearly half of the country's employees, creating the majority of net jobs since 1995, and contributing around 44% to GDP; supporting small businesses provides unique benefits and helps balance economic power.
Wealthier Americans are cutting back on spending, particularly on physical goods and housing, which could have negative impacts on the US economy and the upcoming holiday season. This trend is attributed to factors such as inflation, rising interest rates, and a cooling wage growth, leading to a shift in aggregate consumer spending.
Quebec's public sector labour dispute escalates with 570,000 workers going on strike, leading to major protests and road blockages, while Canada's dairy quotas are found to not unfairly limit US access, and retailers offer bigger Black Friday discounts to attract shoppers.
Canadian consumers defied high interest rates and increased their spending in September and October, with retail sales experiencing the biggest jump since April, although details in the report indicate weaknesses in consumer spending.
India is experiencing strong economic growth and the article highlights the 25 most profitable businesses in India with the least investment, including industries such as electronics, office equipment, steel, publishing, healthcare, and software applications.
Germany's economy contracted by 0.1% in the third quarter of 2023 due to high energy costs, weak global orders, and higher interest rates, with private consumer spending decreasing and government spending increasing for the first time in over a year, leading to major uncertainty about planned investments and potential further dampening of growth.
Americans are feeling financial pressures and changing their spending habits this holiday season, opting for experiences over traditional gifts and finding ways to make their dollars go further, as rising rents, higher food prices, and increased credit card rates squeeze their budgets.
The Canadian housing market is in recessionary territory, with unit sales down 45% and new listings rebounding as owners face financing issues and mortgages payments increase rapidly, leading to further deterioration in housing market activity.
The Bank of Spain is requesting information and monitoring the recent disruptions to the country's payments network, which includes the crash of Spain's largest payments platform Redsys, as the government also investigates the issue.
Mainland China has experienced a significant decline in its ranking for English proficiency, falling 20 places, but experts believe that the language will still be crucial for foreign trade and investment despite the decrease.
Javier Milei, who recently won the election against Sergio Massa, plans to assume the presidency of Argentina and tackle the country's inflation crisis by dollarizing the economy, an approach that involves adopting the U.S. dollar as the official currency as has been done by Panama, Ecuador, and El Salvador.
The Tourism Authority of Thailand projects that Chinese arrivals this year will fall short of the lower target of 4 million, with an estimated 3.4-3.5 million tourists due to China's sluggish economy and focus on domestic tourism, but forecasts a recovery to 8.2 million arrivals next year.
The White House is delaying action on requests from Farm Belt states to allow regional sales of gasoline blended with higher levels of ethanol after concerns were raised by the oil industry about potential supply disruptions and price spikes, highlighting the administration's worries over fuel prices and their impact on President Biden's re-election prospects.
Bloomberg reports an increased likelihood of deeper oil supply cuts at the delayed OPEC+ meeting, Saudi Arabia and Russia are said to be among the leaders of the OPEC+ coalition.
Chinese car sales in Russia have peaked as domestic production recovers, indicating stabilization in the car market after the Western automakers' exodus, but high import costs and interest rates may hinder further growth.
Chinese car sales in Russia have reportedly peaked as domestic production recovers after the departure of Western automakers, but high import costs and interest rates may hinder further growth in the market. Chinese carmakers have benefited from the exit of Western players and have become Russia's largest export market for cars, but with demand now saturated, their prospects for expansion appear limited. Monthly car sales and production in Russia are increasing, but the market remains unstable and faces challenges.
Germany's economy contracted slightly in the third quarter of 2023, with a 0.1% decline in GDP, raising concerns about a potential recession and ongoing sluggishness in the German economy.
Black Friday's impact on the economy and markets is expected to be significant this year.
Delays in Zambia's debt restructuring have hindered investment, slowed economic growth, affected financial markets, and increased living costs, according to Finance Minister Situmbeko Musokotwane.
The viral story of a $16 McDonald's order in Idaho has sparked debates about the state of the economy and Americans' discontent, highlighting the challenge for the Biden administration to effectively communicate its economic accomplishments. Social media platforms like TikTok have played a role in fueling exaggerated narratives and negative perceptions, creating a disconnect between economic statistics and public sentiment. While some argue for a focus on criticizing Republicans and large corporations, others warn against dismissing genuine grievances and advocate for addressing real economic issues faced by Americans.
More Canadian mortgage owners are opting for fixed-rate loans instead of variable-rate mortgages in an effort to bring stability to their finances, despite predictions of interest rate cuts; this trend is driven by the desire for stability in monthly expenses after previous rate predictions proved inaccurate.
Consumers are expected to heavily utilize "buy now, pay later" payment plans during the holiday season, which is beneficial for retailers but concerning for credit experts due to the potential for excessive debt.
The Eastern Economic Corridor (EEC) Policy Committee has endorsed a draft 5-year development plan aimed at attracting 500 billion baht worth of investments to the area and offering 10-year visas to investors in targeted businesses, starting next year.
Despite strong GDP growth and high employment rates, both economic sentiment and President Joe Biden's approval ratings remain low due to factors such as high prices, rising interest rates, Republican dissatisfaction, and the long-lasting impact of the pandemic on consumer sentiment.
Investors should prepare for market volatility as the US economy slows down, with a sharp GDP slowdown and potential recession concerns, according to Point72 Asset Management's Sophia Drossos.
Major retailers are hiring fewer seasonal workers this holiday season compared to previous years, signaling a cooling labor market and a decrease in competition for workers in industries like retail, hospitality, and transportation. While unemployment remains low and wages are increasing, companies have slowed hiring and increased layoffs, resulting in fewer job options and less competition for pay and benefits during the holiday season. Amazon, however, is bucking the trend by hiring 250,000 full-time, part-time, and seasonal employees and offering hiring bonuses of up to $3,000 at some locations. The mixed hiring trends reflect uncertainty about consumer spending amid factors such as rising interest rates, inflation, and the resumption of loan payments.
Chinese trust sector faces alarm as Zhongzhi Enterprise Group declares severe insolvency with a $36 billion shortfall, highlighting liquidity problems in China's $2.9 trillion shadow banking sector.
Fish and chip shops in the U.K. are struggling as economic headwinds turn this popular comfort food into a luxury.
Argentina's economy, suffering from high inflation and a plummeting peso, relies heavily on U.S. dollars, leading President-elect Javier Milei to propose dollarization as a solution, although economists argue it may not be feasible or beneficial.
Germany's economy contracted by 0.1% in the third quarter of 2023, driven by a 0.3% drop in household spending, as weak economic development, high energy costs, weak global orders, and government austerity measures continue to take a toll on the country's growth.
China's Belt and Road Initiative (BRI) has led to a significant amount of debt, with 80% of China's lending to developing countries being to those in financial distress, and 1,693 BRI projects now at risk; the US and its allies are attempting to compete with the BRI through initiatives such as the Build Back Better World and the EU's Global Gateway.
Investors are uncertain about when global interest rates will start falling, which is putting pressure on the dollar during a seasonally difficult time, making upcoming inflation data more critical, while China contemplates its growth outlook.
Former Central Bank of Nigeria chief and member of former President Buhari's Economic Advisory Council, Governor Chukwuma Soludo, stated that President Bola Tinubu inherited a "dead economy" from his predecessor, emphasizing that the Nigerian economy under Buhari was like a dead horse that appeared alive to many.