China has lent Pakistan a total of $69 billion, $21 billion more than previously reported by the World Bank, raising concerns about Pakistan's long-term economic sustainability and its dependence on foreign funds, particularly from China.
Japanese wholesale inflation slows below 1% for the first time in over 2-1/2-years, indicating that cost push pressures driving up prices for various goods are starting to fade.
Australia's financial situation is at risk if the government uses the sovereign wealth fund for political projects, according to the outgoing chairman of the Future Fund, Peter Costello. The aging population and reduced taxpayers will put pressure on the fund, potentially leading to increased taxes and borrowing.
Japanese wholesale inflation slowed below 1% for the first time in over 2-1/2 years, indicating that cost push pressures that were driving up prices for various goods are starting to diminish.
Millennials in the UK are still struggling to recover from the 2008 financial crisis, facing lower incomes and difficulty in achieving homeownership compared to previous generations, while their US counterparts have made progress in closing the gap, according to a new report by the Resolution Foundation.
The COVID-19 pandemic has prompted people in India to prioritize retirement planning due to financial hardships, leading to an increase in investments in retirement funds and schemes.
Inflation in Australia is proving to be more persistent than expected, primarily due to price pressures in the services sector, and bringing it down will be a slow process, according to a top central banker.
China has set a goal to "accelerate building a financial powerhouse" with the Communist Party leading the charge, recognizing finance as the lifeblood of the national economy and key to its competitiveness.
China is expected to inject more cash into the financial system and potentially reduce banks' reserve requirement ratio as policy loans come due and liquidity conditions tighten.
China's focus on upgrading its manufacturing sector towards high-tech products such as semiconductors and EVs is raising concerns of overcapacity and cheap exports, sparking fears of a collision in global trade between China and Europe. China's industrial policy will be a topic of discussion at the APEC forum, as the country aims to become an advanced manufacturing powerhouse. However, these investments in advanced sectors come at the expense of increasing domestic consumption and may contribute to excess capacity in certain industries.
Asian markets are expected to have a strong start to the week due to a rally on Wall Street, upcoming economic data and corporate earnings releases, with Chinese equities poised for potential growth and loose financial conditions in Japan.
The upcoming U.S. inflation report for October will be closely watched by markets, economists, and policymakers, as a cooling trend in price pressures may lead to the Fed refraining from further interest-rate hikes.
"The Marvels" opened at No. 1 at the box office but earned just $47 million domestically, making it the lowest-performing Marvel film to date, signaling a potential need for the superhero genre to offer more unique and fresh takes.
Multinational corporations avoided paying $200 billion in taxes in 2020 through profit shifting, a strategy where they register profits in low-tax jurisdictions, resulting in fiscal injustice and reduced public money for governments worldwide.
The Australian Labor Party, led by Anthony Albanese, is facing a significant challenge from voters who are increasingly dissatisfied with the party's handling of the economy and rising living costs, resulting in a decline in Labor's primary vote and public support.
Inflation remains entrenched in America, Australia, Britain, and Canada, while countries like Italy, Spain, Japan, and South Korea are making progress in combating it, with factors such as labor market conditions, inflation expectations, and monetary policy contributing to the differences in performance.
Rising bond yields have helped the Federal Reserve control inflation, but it has also made borrowing more expensive and impacted investor portfolios. While the Fed has benefitted from the rise in yields, it now faces a dilemma as it tries to bring down inflation without undermining the economy by tightening monetary policy.
The job market has slowed down, but there are still many six-figure roles available, with salary growth in highly specialist positions, according to a recruitment firm's salary guide. However, competition among candidates has increased, and individuals are advised to focus on their skills, competencies, and productivity to stand out in the market.
This week's release of inflation figures is expected to show a drop in the CPI inflation rate, influenced by a reduction in the utility price cap, but attention should also be given to the core rate and CPI for services; however, cuts in inflation are still needed to align with the Bank of England's target rate of 2%.
Despite the ongoing war with Russia, Tomáš Fiala, CEO of Dragon Capital, remains optimistic about the Ukrainian economy and predicts economic growth of 4.5% in 2023, with inflation forecasted at 6% for this year, and expects the GDP to rise to $190 billion in 2022.
Moody's downgraded the U.S. economic outlook to "negative" from "stable," citing growing fiscal deficits, which was met with criticism from the Biden administration.
Canada's Technology Fast 50 list showcases the rapid growth of tech companies, with Vancouver's Dapper Labs leading the pack with a growth rate of 16,910%; Canadian Tire Corp. Ltd. is cutting costs amidst economic pressures and a shift in consumer spending patterns; the average price of new and used cars has significantly increased in recent years; the Canada Revenue Agency's interest rate on overdue taxes is set to rise to 10% in 2024; individuals seeking cheaper alternatives to legal advice for divorce proceedings may be putting themselves at risk; Westbank Corp. is facing lawsuits over unpaid work at the Mirvish Village redevelopment project.
Multinational corporations evaded $200 billion in taxes worldwide in 2020 through profit shifting strategies, with tax havens in Europe benefiting the most, resulting in reduced public funds for governments and negative impacts on developing countries.
Emerging-market borrowers are taking advantage of lower borrowing costs and a respite in conditions, selling about $20 billion in dollar notes in just a few days, with more issuances expected in the near future.
The federal minimum wage of $7.25 an hour is increasingly considered out of touch with today's economic reality, as a declining number of workers are paid that amount and efforts to raise it have been unsuccessful, despite growing support from unions, economists, and employers.
Americans' long-run inflation expectations have risen to the highest level since 2011, according to the University of Michigan's consumer survey, which could prompt the Federal Reserve to tighten monetary policy further if inflation perceptions continue to worsen.
China's new financial regulator, the National Administration of Financial Regulation (NAFR), will prioritize risk control and regulation of emerging industries, particularly the tech industry, in order to promote the digital economy and combat illegal financial activities.
Western economies have experienced a prolonged period of weak growth, resulting in public anger and the rise of far-right parties, indicating a new age of anger and political instability. policymakers have struggled to bring back economic prosperity, and attempts to deviate from economic orthodoxy have raised concerns. A study has shown a link between austerity measures and support for extreme parties, highlighting the political costs of fiscal consolidation. To escape the low-growth trap, increasing public investment and stimulating private investment is suggested as a solution.
North Carolina Governor Roy Cooper is focusing on clean energy as a means of economic development, attracting clean energy manufacturing jobs to the state and offering billions in taxpayer-funded incentives, despite critics who argue that it is a risky investment with uncertain demand for electric vehicles.
Federal Reserve Chairman Jerome Powell should increase surveillance efforts on China as its slipping into deflation and the potential turmoil in China's economy could have significant impacts on the US economy.
Vermont is experiencing a shortage of workers due to its rapidly aging population, forcing employers to implement creative strategies such as hiring retirees, offering higher wages, and investing in automation to address the problem.
Weak confidence in the Chinese economy and limited access to capital markets for privately owned companies suggest that Chinese securities may no longer be essential for foreign investors.
The consulting industry in the UK is facing tough times, with major firms like PwC and Deloitte axing jobs and slashing bonuses, but this could be a blessing in disguise for the British economy as the industry had become too big and was consuming a disproportionate amount of resources, and the individuals being released from the industry may find more productive opportunities elsewhere such as working for real companies, fast-growing startups, or becoming entrepreneurs, which will have a more significant impact on the economy.
Federal Reserve Chairman Jay Powell warns that there is still a long way to go in getting inflation under control and higher interest rates are likely here to stay, causing concern among investors.
The high-level summit between Presidents Joe Biden and Xi Jinping could have global consequences as the world's economy is suffering from various crises, and preventing further deterioration in the U.S.-China economic relationship would already be considered a victory for both sides.
The British economy grew slightly in September, avoiding a recession, but sluggish growth is expected due to credit contraction and geopolitical tensions impacting the supply of semiconductors and rare earths.
Germany's economy is facing challenges due to its reliance on Russia and China, resulting in a decline in its stock market and GDP, but with a history of bouncing back, there are six contrarian investments that could lead to long-term success.
South Korean inflation is expected to ease in November to around 3.6% as agricultural product prices decline, according to the country's finance minister.
The evidence suggests that a recession is on the horizon, as employment data, consumer spending patterns, and earnings expectations show signs of weakness, leading to a likely start of the recession in Q4 according to the NBER. Credit card balances and delinquencies are rising, employment reports are weak, savings have been depleted, and the banking sector, housing industry, and business sector are all showing signs of contraction. Inflation is the only positive aspect, but even that is expected to decline.
China's Singles Day sales event sees e-commerce giants, like Alibaba and JD.com, reporting growth despite subdued sales expectations amid struggling economy; Jim Biden, brother of Joe Biden, faces scrutiny over his involvement with a health care startup; Israel's Prime Minister Benjamin Netanyahu rejects calls for a cease-fire in Gaza and dismisses the return of the Palestinian Authority; A cyberattack disrupts Australian ports and threatens global supply chains; Bargain hunters eye U.S. bank stocks while the sector's problems are expected to persist; Turkish Airlines holds talks with Airbus for a potential order of 355 new aircraft; Livent starts campaign for a $10.6 billion merger with Allkem Australian to become the world's third-largest lithium producer.
The Pakistan Tehreek-e-Insaf (PTI) government has accused the Pakistan Muslim League-Nawaz (PML-N) government of reversing the economic progress achieved by the PTI, as outlined in a White Paper, blaming the PDM government for the economic catastrophe currently faced by the country.
Vietnam's youth are increasingly joining the Chinese trend of 'lying flat' as they question the purpose of their work and struggle to keep up with the rising cost of living, despite the country's booming economy and foreign investment.
The South Korean economy is facing an alarming combination of negative economic factors, prompting concerns of a potential "perfect storm" that could significantly damage the economy ahead of the upcoming general elections in April.
India's economic growth is primarily driven by strong demand and consumption from the upper middle-income bracket and above, while rural India and some sections of salaried classes in urban areas are experiencing a slowdown, resulting in income and wealth inequality, according to the World Inequality Report 2022.
The COVID-19 pandemic and rising interest rates have led to increased costs of consumer goods, but with the onset of disinflation, brands are facing challenges in staying competitive and are offering more discounts to value-seeking consumers.
US price pressures are continuing to rise, causing concern among Federal Reserve officials and indicating that further tightening may be necessary.
Unrecovered bank loans from wilful defaulters have reached a peak in India, with questions raised about political interference, corruption, and the need for accountability in the banking and government sectors.
Moody's has changed the U.S. credit outlook from "stable" to "negative" due to the worsening fiscal standing and political dysfunction in the country, indicating a potential future downgrade in the credit rating. This comes after Fitch downgraded the U.S. credit rating from AAA to AA+ in August. The implications of these lowered ratings include a potential impact on the economy, such as increased interest rates, and a loss of confidence in the government's ability to fulfill its debt obligations.
UK inflation is expected to drop below 5% for the first time in two years, potentially fulfilling a pledge made by Prime Minister Rishi Sunak to halve inflation from its peak of 10.7%. The reduction in inflation is largely attributed to a decrease in energy prices and government inactivity, but economists warn that the economy may stagnate and the long-term outlook for the UK remains uncertain.
Entering the holiday season with high-interest debt or financial struggles can result in a long-lasting debt hangover, making it crucial to find ways to lower debt and create a budget to prevent overspending.