The Federal Reserve is expected to aggressively cut interest rates next year due to slow economic growth, according to UBS, with a projected reduction of 275 basis points by the end of 2024.
Dye & Durham launches strategic review of non-core assets to reduce debt, resulting in a 10% increase in shares; Canadian rent prices continue to rise, reaching a new high for the sixth month in a row; Banning replacement workers during strikes could cause disruptions, according to industry leaders; RFK Jr. allegedly walks barefoot down a first-class plane aisle; True North Commercial REIT reports Q3-2023 results and announces updated strategy to increase value for unitholders; Nvidia upgrades flagship chip for AI systems; Exxon Mobil plans to begin lithium production for electric vehicles by 2027; Asian stocks rise ahead of US inflation data; South Dakota hotel owner must apologize and step down due to race discrimination; JBS, the world's largest meat producer, misses profit estimates due to declining beef margins; TD Bank may be a lucrative dividend play for the decade.
Only 8 percent of millionaires in America consider themselves wealthy, with a significant portion identifying as middle class or upper middle class, highlighting the impact of inflation and economic uncertainty on the nation's wealthiest individuals.
More than half of Americans have credit card debt, with many using their cards to cover essential expenses, and some struggling to make minimum payments; therefore, using a personal loan at a lower interest rate may be a beneficial solution to pay off high-interest credit card debt.
Goldman Sachs economists predict that the Federal Reserve's campaign to curb inflation will result in a decline, but interest rates are expected to remain higher than previous lows, with a projected equilibrium of 3.5% to 3.75%.
Daily Kos is encouraging people to get involved in the upcoming elections and expressing solidarity with the Black community.
Economists surveyed by the Philadelphia Fed are more optimistic about the US economy in 2024, with a projected increase in real GDP and only a slight rise in unemployment and inflation, but concerns over a potential recession in the first three quarters of next year remain.
US consumers believe that inflation will continue to ease, the labor market will remain strong, and they will continue to spend more than pre-pandemic, according to a survey by the Federal Reserve Bank of New York.
The average price of homes in the UK fell by over £6,000 in November, the largest percentage drop for this month in five years, according to property website Rightmove.
The expected path for inflation softened in October, with inflation a year from now projected at 3.6%, while respondents marked up the projected price of future gasoline price rises to 5%; however, the New York Fed's expected path of inflation remained stable, in contrast to the University of Michigan's Consumer Sentiment Survey.
Chilly and expensive northern cities such as Chicago and the New York City area are experiencing an increase in interest in their luxury real estate markets, with more property listing views and rising prices, making them attractive for those looking to preserve and grow their wealth in stable financial anchors.
Wall Street's main indexes opened lower as investors await key economic data that could shape expectations around the Federal Reserve's interest rates.
China's top e-commerce giants, Alibaba and JD.com, reported higher sales for the Singles Day shopping holiday, but analysts believe the event's growth has slowed, reflecting the struggles of the country's economy in the face of a property market crisis and macroeconomic headwinds.
Two teenage boys, aged 13 and 16, have been arrested in Quebec City for their involvement in a scrapyard fire that destroyed approximately 500 vehicles.
Millennials in the UK are experiencing financial difficulties and earning less than the previous generation due to the economic impact of the 2008 financial crisis, according to a study by the Resolution Foundation, while American millennials are starting to catch up with their parents' earning power despite a rough start; however, the decline in homeownership rates for millennials is primarily due to the real estate market outpacing wage growth.
Tyson Foods' stock fluctuates after missing sales expectations and providing a full-year outlook below Wall Street's expectations.
Mexican nearshoring is becoming a popular option for American companies seeking to address labor shortages and diversify their supply chains, as Mexico offers lower labor and shipping costs compared to China and is geographically closer to the US. However, concerns regarding infrastructure, security, and drug trafficking still need to be addressed for Mexico to fully take advantage of nearshoring opportunities.
Many Americans are experiencing higher prices for everyday items despite reports of inflation easing, with the cost of homes and eggs significantly higher compared to pre-pandemic levels, and the prices of goods not decreasing accordingly.
Moody's possible downgrade of Italy to junk status could lead to market volatility and put pressure on European Central Bank officials to stabilize the situation, with potential implications on Italy's fiscal strength and debt sustainability.
Despite the fact that most Americans are financially better off than before the pandemic, they feel worse about their economic prospects due to rising prices and inflation, posing a challenge for President Biden and the White House as they work to improve the economy through legislative victories and infrastructure projects.
Wall Street is expected to open slightly lower as investors await key economic data, including an inflation reading, to determine the future of interest rates, while Moody's downgrade of the U.S. credit rating and concerns over government spending also weigh on sentiment.
Hard-hit Argentines struggling with high inflation are turning to second-hand clothing markets to find affordable bargains and raise extra cash from selling old garments amid the country's worst crisis in decades.
The Fort Lauderdale International Boat Show, the largest in-water boating event in the world, generates over $1.8 billion for the economy and has a significant impact on job creation and small businesses.
Sri Lanka's government plans to reduce its budget deficit in 2024 through higher tax revenues, in order to sustain its bailout program with the IMF.
The high prices of housing in today's market make it just as unaffordable for buyers, despite lower mortgage rates, as it was in 1984 when mortgage rates were significantly higher.
Entrepreneur Ashneer Grover sparked a mixed reaction on social media with his suggestion that India's GDP should be measured based on per capita income, with users debating whether it is a true measure of development or if other factors should also be taken into account.
The U.S. population is projected to shrink by 2100, which may have significant economic consequences such as a recession, inflation, and labor shortages, with experts attributing the decline to various factors including economic worries, political division, and the impact of the COVID-19 pandemic.
The trucking industry in America is facing a crisis due to a surplus of trucks and drivers compared to the amount of freight, leading to decreased volumes and rates, bankruptcies, and layoffs, which is a concerning indicator for the American economy heading into the holiday season.
U.S. stock futures edge lower as investors await key economic data and digest Moody's downgrade, big-box retailers release latest results, inflation data to influence Fed interest rate policy, Biden and Xi set to meet, and oil prices slip amid concerns over global demand and potential Fed policy tightening.
A proposal suggests that BRICS countries should develop their own internet service to reduce the US's technological dominance and control over the global news narrative.
Euro zone economic growth will remain weak in the near term as services and the labor market weaken, but countries should not free discretionary bank buffers to ease the pain, according to European Central Bank Vice President Luis de Guindos.
China's biggest livestreamer, Li Jiaqi, experienced a significant decline in sales during the annual Singles' Day shopping festival, reflecting the challenges of stimulating consumer spending and concerns about the country's economic growth.
Public sector workers in Britain are expected to receive a 5% pay rise, matching the strong pay growth in the private sector, according to a survey by the Chartered Institute of Personnel and Development (CIPD), indicating continued high demand for labor in the post-pandemic economy.
Turkey's current account has recorded a surplus for the second time since late 2021, driven by a narrowing trade deficit and higher borrowing costs, signaling improved external finances.
The Asia Pacific Economic Cooperation (APEC) countries are expected to experience a decline in economic growth next year due to higher interest rates in the US, China's slow recovery, and trade tensions between the two countries, as per forecasts from the APEC Secretariat's Policy Support Unit.
European stock markets edged higher on Monday, following the positive close on Wall Street, but concerns about the global growth outlook and restrictive monetary policies persist.
Thailand's Prime Minister defends a plan to borrow billions of dollars for a cash handout program, citing the need for stimulus to overcome low growth and revitalize the economy.
Agriculture in Africa contributes significantly to GDP but is burdened by hidden costs totaling $952.5 billion per year, with eastern Africa experiencing the highest losses at $264.9 billion annually, primarily due to problems related to agrifood systems.
The Japanese yen remains vulnerable as cost pressures that have been driving up prices start to fade, giving little support to the currency.
Indian blue-chip shares, particularly IT and financial stocks, dropped as investors awaited retail inflation data, while benchmarks Nifty 50 and Sensex experienced gains in the special trading session.
Former Federal Reserve Bank of New York President Bill Dudley warns that the US fiscal position is on an "unsustainable trajectory" due to rising debt costs and a lack of political will to address the crisis, with ballooning healthcare and social security expenses exacerbating the situation.
Pakistan faces significant challenges in terms of poverty, economic growth, and environmental degradation, and it is looking to collaborate with China's Belt and Road Initiative (BRI) to overcome these challenges and access opportunities for growth through projects like ML-1 and small-scale livelihood assistance programs. However, effective implementation and improved proposals are necessary for successful cooperation.
Only 8% of millionaires in America consider themselves wealthy, with many focused on safeguarding their wealth and considering themselves upper middle class or middle class, according to a recent study by Ameriprise Financial.
Asian shares weakened slightly as investors focus on upcoming US inflation data and the summit between Joe Biden and Xi Jinping, with hopes of a more positive outcome for US-China relations.
Economic growth in the Asia-Pacific Economic Cooperation (Apec) region will fall behind the rest of the world due to slowing growth in China, changing demographics, and supply chain adjustments, according to a report released at the Apec meeting in California. While Apec's GDP growth is expected to improve in the short term, projections show the region lagging behind other global economies in the following years due to various challenges including the pandemic, inflation, trade protectionism, and geopolitical tensions.
The Minister of Information has stated that Ghana's current arrangement with the International Monetary Fund (IMF) will not address the fundamental problems of the country's economy, although the IMF board approved a $3 billion bailout in May this year. Despite missing the November 1 deadline to receive the second tranche of the bailout, the Minister clarified that no deadline has been missed and that the IMF transaction is not a solution to Ghana's problems. The government is still in talks with external creditors for debt relief worth $10.5 billion.
Mark Matthews, Head of Research for Asia at Julius Baer, believes that the delayed impact of higher interest rates on economies poses a greater threat to markets worldwide than geopolitical issues, and expects FY2023-24 earnings growth in India to be around 17 percent, which is a respectable figure compared to the rest of the world.
The Pakistani government has finalized a fiscal strategy to make all future investments climate resilient, in order to meet an IMF deadline and secure funding from multilateral agencies. The strategy includes reorienting the public sector development program, public-private partnerships, and the newly formed Special Investment Facilitation Council for climate finance and carbon markets.
Japan's producer prices decelerated in October to the weakest level in over two years, indicating a cooling inflation trend, which aligns with the Bank of Japan's view and suggests that inflation cannot persist above the target on a cost-push basis alone.
The dollar remains strong as traders await U.S. inflation data, while the Japanese yen hovers near a one-year low and the focus remains on the Federal Reserve's stance on price pressures.