Renowned investor Peter Schiff predicts that interest rates in the US will remain "much higher, forever," which could lead to financial challenges such as increased borrowing costs, reduced economic activity, and potential job losses. However, individuals can mitigate the impacts by saving in high-yield accounts, diversifying investments, and considering alternative assets like real estate.
Wall Street CEOs Jamie Dimon and David Solomon have warned investors to exercise caution due to economic and geopolitical risks, including the potential impact of fiscal and monetary stimulus waning, conflicts between Russia and Ukraine and Israel and Hamas, and potential economic slowdowns caused by higher interest rates.
Ford Motor Co. is slowing production of its first electric pickup, the F-150 Lightning, due to polarization in US politics, with some states embracing EVs for climate reasons while others resist them as government mandates.
UK inflation unexpectedly holds at 6.7% in September, keeping the possibility of another interest rate hike alive, driven by a rise in petrol prices and robust core inflation and services prices.
Consumers are showing signs of slowing down their spending, with growth rates dropping and lower-income households depleting their savings, signaling a low growth, low inflation economy, according to Bank of America CEO Brian Moynihan. Despite the Fed's efforts to tackle inflation, economists remain cautious about the future economic uncertainty.
The US has exported various agricultural products to Nigeria in 2022, including wheat, ethanol, food preparations, wine, fish and seafood, among others, with a total value of over $631 million.
The high cost of living, acute foreign currency shortages, and rising prices of materials due to dwindling imports have led to economic hardships in Malawi, with many struggling to afford basic necessities and businesses facing declining demand.
UK inflation remains unchanged at 6.7% in September, raising doubts over Rishi Sunak's pledge to halve inflation by the end of the year, as rising fuel prices offset the first monthly fall in food prices in two years.
High inflation imposes long-term costs on society and the economy by reducing consumer investment, increasing wage negotiations, and forcing individuals to cope with rising prices, leading to skewed markets and a greater loss of purchasing power.
The UK requires significant infrastructure investment to address climate change and reduce economic inequality, including subsidies to replace gas boilers with heat pumps for low-income households, according to government advisors. The National Infrastructure Commission (NIC) recommends an annual investment of £70-80 billion ($85-97 billion) in the 2030s, with increasing public investment and a transition to low-carbon heating by 2035. However, concerns have been raised about the feasibility and affordability of replacing gas boilers with heat pumps.
The recent Hamas-Israel conflict could have significant implications for the strategies and alliances of non-Middle Eastern countries, particularly Russia, as it aligns itself with Iran and organizations like Hamas, potentially impacting regional peace initiatives and energy security in the Middle East.
China's economy grew at a slower rate in Q3 due to faltering global demand and a struggling property sector, causing markets in Europe and Asia to fall while oil prices rose.
The Indian Cabinet has approved a 4% hike in dearness allowance for central government employees and pensioners, effective July 2023, along with a 7% increase in the minimum selling price (MSP) for six prominent Rabi crops for the 2024-25 marketing season. Additionally, the Cabinet has allocated Rs 20,773.7 crore for the installation of a transmission line for a renewable energy project in Ladakh.
The inflation rate in Britain remained steady in September, defying expectations of a small decline, due to a rise in fuel prices offsetting a slowdown in food inflation.
Food prices fell in September for the first time in two years, but fuel prices increased sharply, resulting in an overall inflation rate of 6.7%; however, wages outpaced inflation for the first time in almost two years, alleviating some financial pressure for households.
China's largest private property developer, Country Garden, is reportedly on the verge of defaulting on its overseas debt, adding to concerns about China's post-pandemic recovery and its property market crisis.
The UK has the highest inflation rate among G7 countries, with prices rising slower in other major advanced economies.
Kenya's trade imbalance is a persistent challenge, with the country heavily reliant on imports despite increasing exports projected to reach $20 billion annually by 2035. The growth in exports, particularly in the tea and horticultural sectors, has helped improve the trade deficit, but the nation is expected to remain a net importer due to its dependence on commodities and unpredictable price changes.
The free trade agreement between India and the United Kingdom is facing delays and disagreements, particularly regarding trade in goods and services, as India struggles to differentiate between its wants and needs in the negotiations.
The Netherlands has the world's best retirement income system according to the 15th annual Mercer CFA Institute Global Pension Index, while Argentina has the lowest-ranking system, and India ranks 45th out of 47 systems analyzed.
Seaweed, a climate-friendly plant with uses in various industries, is gaining popularity worldwide due to its ability to absorb large amounts of carbon dioxide, and India has the potential to become a major cultivator if technical and policy gaps are addressed.
The Bank of Japan has conducted an unscheduled bond-purchase operation in an effort to slow the increase in sovereign yields, as Japanese government bonds face renewed pressure amid a selloff in US Treasuries.
China's economy experienced growth over the summer due to government investment in infrastructure and increased consumer spending, but the real estate market continued to weaken.
China's largest private property developer, Country Garden, has missed a $15 million coupon payment, heightening concerns of a default on its offshore debt and potentially triggering cross defaults on other bonds, as many Chinese property developers struggle with liquidity issues amid the country's real estate woes.
The European Union has added Seychelles, Belize, and Antigua and Barbuda to its list of 16 "non-cooperative" tax jurisdictions due to their lack of tax information and failure to deliver on transparency reforms.
China's economy is expected to have slowed in the third quarter due to weak demand, but increased stimulus measures could help the country reach its full-year growth target. GDP growth is predicted to be 4.4%, down from 6.3% in the previous quarter, and while recent data shows some stabilization, more measures may be needed to support economic activity.
The UK's infrastructure needs a significant investment to renew public transport, home heating, and water networks, which would result in cost savings for households, increased economic productivity, and an improved quality of life, according to the National Infrastructure Commission. The report also emphasizes the importance of renewable energy, heat pumps for households, and greater investment in public transport. However, some recommendations, such as restrictions on car access and the non-use of hydrogen for home heating, may be controversial.
Asian financial markets are preparing for the release of Chinese GDP figures amid a backdrop of global economic, market, and geopolitical uncertainties, including the Middle East crisis and the potential default of China's largest private property developer, Country Garden.
Americans continue to spend at a steady pace despite higher prices and rising interest rates, with retail sales in September exceeding expectations and online and restaurant spending seeing significant increases.
Despite inflationary pressures, American consumers continue to spend, with September's sales reaching $704 billion, a 3.8% increase from the previous year, indicating a healthy consumer outlook for the upcoming holiday season.
The household savings rate in the US has significantly dropped since the Covid-19 pandemic subsided, in contrast to other countries.
The Canadian dollar weakened against the US dollar as investors anticipate the Bank of Canada keeping interest rates unchanged following lower-than-expected inflation data.
Scientists propose that lower serotonin levels, triggered by remnants of the virus lingering in the gut, may explain some cases of long COVID. Prosecutors seek to recharge Alec Baldwin in the fatal shooting on set of the movie 'Rust'. A B.C. man who killed his pregnant wife in 2006 has been granted full parole. A Black man, previously exonerated, was fatally shot by a Georgia sheriff's deputy during a traffic stop. Jordan Klepper documents interactions with Trump fans at a rally in New Hampshire. TD Bank expects a $156 million boost from its stake in Charles Schwab for the fourth quarter.
China's Belt and Road Initiative (BRI) is facing challenges as concerns grow over debt traps and declining attendance, with projects in Zambia, Sri Lanka, and Pakistan at risk of default, and a third of all BRI projects affected by environmental damage, corruption, and labor violations, leading to questions about the future of China's alternative global power status.
Federal Reserve Chair Jay Powell may suggest that the responsibility of bringing down inflation should be shifted from the Fed to the market, indicating that rates may need to stay higher for longer and potentially tightening financial conditions and slowing the economy.
The recent string of mass layoffs at large companies raises fears that jobless claims will increase, potentially negatively impacting investor portfolios and the overall economy.
Canada's proposed digital services tax targeting tech and social media giants is expected to increase federal government revenues by $7.2 billion over five years, according to the Parliamentary Budget Officer, doubling previous estimates.
Ratings agency Fitch has placed Israel's credit ratings on Rating Watch Negative due to the increased risk of a wider conflict involving multiple actors, including Hezbollah, other regional militant groups, and Iran.
A tropical depression is likely to form within 72 hours as a system moves west to northwest towards the Caribbean, with a 60% chance of developing in the next two days and an 80% chance in the next seven days according to the National Hurricane Center.
The growing confidence in the U.S. economy's ability to avoid a recession has led to another selloff of government debt, pushing the 10-year Treasury yield towards 5%, its highest level since 2007.
A new analysis from Bank of America shows that Gen Zers and millennials are increasingly taking on gig work to make ends meet, but their credit and debit spending growth is slower than that of baby boomers, indicating that young adults are facing financial constraints and have little discretionary income. This trend is attributed to wage slowdown and rising living costs for younger generations.
Canada's inflation rate slowed to 3.8% in September, supporting predictions of the Bank of Canada keeping interest rates steady.
Small-business owners in China are feeling the impact of the country's economic slowdown, with decreased tourism and consumer spending leading to closures and losses for many businesses. Despite the challenges, some owners are attempting to adapt and survive by exploring new business models and strategies.
China's Belt and Road Initiative (BRI) has invested over $1 trillion in 148 countries, but a report from Boston University suggests that many of the recipients of Chinese finance are experiencing "accentuated debt distress" as a result. The BRI has focused its investment in East Asia, South America, Sub-Saharan Africa, and the Arab Middle East and North Africa.
According to the International Labour Organisation, here are the top 10 African countries with the highest employment rates: Madagascar, Tanzania, Burundi, Ethiopia, Mozambique, Liberia, Niger, Eritrea, Kenya, and Angola.
Canada's annual inflation rate unexpectedly slowed to 3.8% in September, leading to reduced expectations for an interest rate hike next week.
US industrial production reached its highest level in almost five years, driven by strength in the mining and manufacturing sectors, with manufacturing output rising and capacity utilization increasing.
BRICS has surpassed the G7 in terms of purchasing power parity, contributing 31.5% to global GDP compared to the G7's 30.7%, and if BRICS succeeds in ditching the US dollar for global trade, the gap could widen further, potentially tilting financial power to the East.
Defaults among China's private developers could worsen the country's local government debt risks, potentially leading to a systemic crisis and market sell-off of debts.
A Black man, recently freed from prison after being exonerated for an armed robbery conviction, was killed by a Georgia deputy during a traffic stop; a Tunisian man suspected of shooting three Swedish soccer fans in Belgium was killed by police; the US issued updated restrictions on exporting advanced AI to prevent China from acquiring cutting-edge chips; scientists propose that serotonin reduction caused by remnants of the virus in the gut may explain some cases of long COVID; Canadian Prime Minister Justin Trudeau condemns reported Israeli strike on a hospital in Gaza; and Alimentation Couche-Tard's new growth plan could potentially boost its stock. In addition, Nathaniel Veltman, the accused killer of the London, Ontario Muslim family, recounts the attack in court.