Two people were killed in a car crash in Windsor, Ontario, where the driver appeared to be evading police.
The author recommends investing in AGNC Investment Corp. (NASDAQ:AGNC), a mortgage REIT that takes advantage of the unique properties of agency Mortgage-Backed Securities (MBS) and their correlation to U.S. Treasuries, in preparation for a potential recession and interest rate cuts by the Federal Reserve.
India's decision to maintain the floor price for basmati rice exports will negatively impact sales and farm income, leaving growers with large stocks of the new-season variety and potentially empowering Pakistan to dominate the market.
Despite economic uncertainty, consumers in the US are expected to spend a record-breaking $12.2 billion on Halloween in 2023, with average spending per person reaching $108 on costumes, candy, decorations, and party supplies. Halloween spending remains resilient and recession-resistant, providing a sense of familiarity and escapism for consumers during challenging times.
Downtown Des Moines is making progress in its pandemic rebound, with improvements in foot traffic, sales tax collections, and office vacancy rates, although parking volume is still low and DART ridership has changed.
Social Security recipients will see a 3.2% increase in their benefits next year, resulting in a smaller boost than the past two years due to moderated inflation, according to the Social Security Administration. The increase in benefits is important for the economy, as Social Security payments significantly contribute to consumer spending and overall GDP. However, recipients still struggle to keep up with rising expenses, particularly in healthcare, which tends to rise faster than inflation rates. The impact of the cost-of-living adjustment is essential for maintaining the value of Social Security benefits over time, especially as seniors become more reliant on them.
Treasury Secretary Janet Yellen stated that higher interest rates may continue and that the US economy is in a good state, while also assuring that the country can afford to support Israel and provide aid to Ukraine.
The IMF has acknowledged the pressure on Nigeria's currency and stated that Nigeria is eligible to request a loan from the Fund to stabilize the currency if it deems it necessary, while also endorsing recent currency changes made by the Nigerian government.
Chicago Fed president Austan Goolsbee believes that the slowdown in US inflation is a trend and not just a temporary blip, cautioning against relying on a narrow set of data for monetary policy decisions.
Average 30-year mortgage rates are expected to trend down in the next few months, but more substantial drops are not likely until next year, making the end of 2024 a better time for potential homebuyers to start the process, while current homeowners may have an opportunity to refinance in the next year or two.
President Joe Biden postponed a trip to Colorado to focus on the Middle East conflict, opting to hold high-level meetings on Israel and Gaza instead.
U.S. stock futures cautiously rose as Middle East tensions and higher Treasury yields fuel anxiety among investors at the start of the week.
India has been accused of aggressively selling US dollars to prevent its local currency, the Rupee, from depreciating, a move that has left foreign exchange traders puzzled. This intervention by India, along with similar actions by China and Japan, reflects a trend among BRICS countries to challenge the dominance of the US dollar in international currency markets.
Italy's government has approved a budget for next year with tax cuts and increased spending worth around 24 billion euros ($25.3 billion), despite concerns over the country's strained public finances, in an effort to support the economy amid international headwinds and an aging population.
Fears of a financial market crisis in developed economies are growing due to record debts, high interest rates, rising costs of climate change, health and pension spending, and fractious politics.
Record debt levels, high interest rates, and spending needs are fueling concerns of a financial market crisis in major developed economies such as the United States, Italy, and Britain, with experts urging governments to implement credible fiscal plans, raise taxes, and promote economic growth to manage their finances effectively.
The South African rand strengthened as tensions in the Middle East increased the price of oil and weakened the dollar.
China's economy is expected to slow in the third quarter due to weakened demand, but increased government support may help Beijing achieve its full-year growth target.
A majority of respondents in a Mainichi Shimbun poll have low expectations for the Japanese government's upcoming economic stimulus package, with only 21% expressing high hopes for it, while concerns over a twin outbreak of COVID-19 and seasonal flu and opinions on the cost of the 2025 World Exposition in Osaka were also surveyed.
The IMF is urging sub-Saharan Africa governments to raise more in taxes and cut costly fuel subsidies, despite the challenges they face in implementing these measures due to high debt and public protests. African countries are grappling with tough spending choices and the risk of harming spending on health and education. The region's debt-to-GDP ratio is expected to rise further if fiscal policies do not change, and many governments are being forced to reduce spending as demand for public money grows. However, high interest rates and debt servicing obligations are making it difficult for African countries to refinance debt and invest in crucial sectors like education and healthcare. Developing countries' interest payments have outpaced spending on health, education, and investment over the past decade. The IMF recommends cutting fossil fuel subsidies that primarily benefit wealthier individuals, but this move has sparked protests in some countries. Overall, African governments are facing hard choices as they try to manage their debts and maintain essential services.
India's wholesale price index (WPI) fell 0.26% in September, contrary to economists' expectations of a rise, driven by a decline in fuel and power prices.
Asian policymakers are using unconventional measures, such as bond sales, to protect their currencies from the impact of rising US interest rates and global tensions, which are causing outflows from the region's lower benchmark rates; while these measures don't replace the use of foreign-exchange reserves, they reduce the amount needed.
The European Union is aiming to prevent the return of Trump-era metals tariffs and address the negative effects of the U.S. Inflation Reduction Act on electric vehicle subsidies through a joint statement and negotiations with the United States during a one-day summit.
Despite high interest rates and sluggish GDP growth, analysts predict that the UK will avoid a recession due to a likely end to rate increases, falling inflation, and a return to real pay growth.
China's real estate crisis and deepening economic woes are raising concerns of a "Japanization" scenario, similar to Japan's period of deflation and low growth, with potential global spillovers, according to the International Monetary Fund (IMF).
The future of China's Belt and Road Initiative (BRI) looks uncertain as the project has slowed down and faces accusations of being an irresponsible lender, with China's economic problems and fractured ties with the US adding to the challenges; however, President Xi Jinping hopes to reinvigorate the project at the third Belt and Road Forum with support from global leaders.
Headline inflation is expected to have eased in September, while pay growth is slowing, with economists predicting that annual inflation fell slightly to 6.5% from 6.7% in August, although it still remains well above the Bank of England's 2% target, and the jobs market weakening and reducing the need for employers to increase wages.
The Chinese economy is expected to stabilize in the coming months with the implementation of stimulus measures, but economic growth will be slower in the long run as authorities focus on addressing structural issues such as debt and property market downturns.
China's central bank injected 289 billion yuan ($39.6 billion) into the financial system, the largest cash injection since 2020, to support economic recovery and debt sales.
Younger Australians may face significant job losses as a result of efforts to curb inflation, particularly in the retail industry, which could disproportionately impact millennials and Gen Z who are already grappling with rising costs and limited financial stability.
The Caretaker Prime Minister of Pakistan has reduced petrol and diesel prices for the second fortnight in a row due to a decline in the international market and an increase in the value of the Pakistani rupee, while also raising the petroleum levy on diesel to a historic high.
Economists are predicting that the U.S. economy is less likely to experience a recession in the next year, with the likelihood dropping below 50% for the first time since last year, thanks to factors such as falling inflation, the Federal Reserve halting interest rate hikes, and a strong labor market.
China's central bank has increased liquidity support to the banking system by conducting medium-term lending facility (MLF) operations worth 789 billion yuan ($108 billion), aiming to ease stress in the market, while keeping interest rates unchanged in an effort to stabilize the yuan.
Market stability is observed in Asia as US equity futures rise and Treasury yields fall amid efforts to contain the Israel-Hamas conflict and prevent further escalation.
The International Monetary Fund (IMF) is urging countries in the Middle East and North Africa to reduce their dominance over their local economies and implement measures such as leveling the playing field between public and private firms, providing more targeted social assistance, and revamping education and training systems. The IMF also called for greater participation of women in the workforce and the use of green investments for job creation.
China's movie theaters have experienced record-breaking box office receipts over the past few months, with ticket sales reaching 23.44 billion yuan ($3.2 billion) between June and September and a majority of the viewers being young women, providing a rare bright spot in the country's struggling economy and offering escapism during tough economic times.
The governor of China's central bank has pledged to provide substantial support to the real economy and capitalize on the country's economic momentum to further enhance confidence in its economic recovery.
China's imports of major commodities, including crude oil, natural gas, coal, and iron ore, remained resilient in September, showing strong growth compared to the same period last year, defying the market narrative that the country's economy is struggling for momentum.
The World Food Day, celebrated on October 16 each year, focuses on promoting food security and raising awareness about hunger and healthy diets worldwide.
Australia's central bank is exploring the potential of tokenised money and the launch of a central bank digital currency, which could save billions of dollars in costs in domestic financial markets and bring increased liquidity and transaction savings to issuers in capital markets.
President Xi Jinping's vision for the high-quality development of the Yangtze River Economic Belt will lead the region in modernization, green development, and advancements in core technologies, according to analysts.
Finance executives at top British firms are the most wary about borrowing since 2007 due to rising interest rates, with a net -37% finding bank borrowing unattractive, according to a survey by Deloitte.
Ethiopian Prime Minister Abiy Ahmed arrives in Beijing to attend the third Belt and Road Forum for International Cooperation.
The 20 most productive states in the US, based on metrics such as labor productivity and per capita real GDP, include Tennessee, North Dakota, Minnesota, New York, and Vermont among others.
China's Belt and Road Initiative (BRI) has led to increased trade with Southeast Asian nations, but concerns over rising debt, environmental impact, and crime have emerged, raising questions about the long-term consequences of the infrastructure projects.
Asian markets are expected to open cautiously due to Wall Street's decline, rising oil prices, escalating violence in the Middle East, and upcoming Chinese economic data, including third-quarter GDP figures.
Asian markets are expected to open cautiously due to Wall Street's slide, oil's surge, escalating violence in the Middle East, and upcoming Chinese economic data including GDP figures for Q3.
Asian markets are expected to open cautiously due to Wall Street's decline, oil's surge, escalating violence in the Middle East, and upcoming Chinese economic data, including third-quarter GDP figures which will determine if Beijing's growth goal will be met.
Consumer prices in Israel unexpectedly decelerated in September, increasing the likelihood of the Bank of Israel lowering interest rates due to the war with Hamas.
Despite making more than $100,000, many Americans still struggle with financial hardships, highlighting the prevalence of living paycheck to paycheck.