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India's External Affairs Minister, S Jaishankar, indirectly criticizes Pakistan for its economic problems, attributing them to excessive military spending and other factors during a discussion at the Hudson Institute in Washington.
Indonesia's first high-speed railway, backed by China, is set to open amidst national pride, but the project's outstanding debt raises concerns about the costs it will impose on President Joko Widodo's legacy.
Indian Foreign Minister Subrahmanyam Jaishankar expressed concern over violence and intimidation faced by Indian diplomats in Canada due to the presence of Sikh separatist groups, as tensions between the two countries continue to escalate.
China's local governments are accumulating more debt by spending billions to recapitalize struggling small banks, as these banks face default risks and poor governance, posing instability to the state-owned financial system and potentially impacting the credit supply for the real economy; however, there are concerns that local governments may not be able to support these smaller banks if they are already heavily indebted or if the banks' performance does not improve.
China's factory activity expanded for the first time in six months in September, indicating that the country's economy is beginning to stabilize after a period of decline.
The decline in net household financial savings is largely due to the increase in their liabilities, with household financial liabilities rising from 3.8% to 5.8% of GDP in 2022-23, leading to concerns of growing household distress and potential implications for the broader economy.
The Biden administration's plan to raise fuel economy standards through 2032 may result in over $14 billion in fines for automakers and is deemed unfeasible by the Alliance for Automotive Innovation.
Ten Thousand Villages, a nonprofit retail chain, is encouraging shoppers to support artists in more than 30 developing countries by offering a sale with items up to 75% off to clear out inventory and provide more work for struggling artisans affected by COVID, inflation, and war.
Taiwanese investors are shifting their focus from manufacturing exports to serving mainland China's domestic demand, despite tensions between the two countries and a deteriorating business environment, as they see the mainland's consumer market as still holding appeal.
A strategist suggests that the Federal Reserve should consider the impact of oil prices when determining interest rates.
Republican infighting over budget legislation has increased the risk of a government shutdown in the US, potentially leading to thousands of federal workers without pay and negatively impacting the economy, including a reduction in GDP growth and a potential credit rating downgrade.
Next Friday's nonfarm payrolls will be crucial for determining whether October will experience a market rally, as the employment data will set the tone for the upcoming earnings season.
This page provides full coverage of the personal income and consumer spending report, including the release of inflation data targeted by the Federal Reserve's monetary policy.
Investor sentiment is being weighed down by factors such as rising interest rates, low bond yields, a potential government shutdown, and consumers facing rising prices without salary increases, but there is optimism that October could bring a turning point for the market.
Consumer spending in August saw a slight increase of 0.4%, which is less than the previous month's 0.9% rise, according to Commerce Department data.
The process of derisking supply chains from China, as the U.S. seeks to reduce its dependence, introduces new risks that must be identified, evaluated, mitigated, and responded to by American firms.
The article discusses the real and present danger posed by deficits and explores the statement made by Dick Cheney that "Reagan proved deficits don't matter."
India's External Affairs Minister, S Jaishankar, indirectly referred to Pakistan's crisis and stated that it is facing long term issues due to various factors and mistakes in its economic progress, while highlighting India's regional cooperation efforts and the exceptional situation of the dormant SAARC due to one member's support of terrorism.
Europe is facing a shortage of olive oil due to wildfires and extreme heat damaging olive harvests, leading to imports from South America, while global olive oil production is expected to more than halve this year, exacerbating the supply issue.
Billionaire real estate mogul Barry Sternlicht warns that the Federal Reserve's rate hikes are worsening the economy and causing inflation levels to drop below target, urging the central bank to cease interest rate increases.
The S&P 500 fell as investors reacted to an inflation report and adjusted their portfolios on the last day of a weak third quarter for stocks, with the benchmark index also on track to post its biggest monthly percentage drop of the year.
Zambia's Minister of Mines emphasizes the need to stop exporting raw materials and move up the value chain to benefit the people, as Congo aims to become a major battery producer and challenge the current business model of exporting raw materials, with various countries and companies expressing interest and support in this endeavor.
New York Fed President John Williams believes that the key U.S. interest rate is at or near the peak level, but borrowing costs must stay high for some time to ensure inflation is controlled and price stability is fully restored.
U.S. Treasury Secretary Janet Yellen warns that a potential government shutdown would harm economic progress, impacting key programs for small businesses and children and delaying infrastructure improvements.
Wage-sensitive inflation in non-housing services has been easing, while wage-insensitive inflation remains volatile and difficult to interpret, according to the Council of Economic Advisers (CEA). Housing inflation continues to be a significant contributor to excess inflation, but it is expected to gradually fall in the coming months.
The Federal Reserve's preferred inflation gauge, core PCE, showed lower inflation in August, signaling progress in the fight against inflation and providing relief to investors anticipating higher rates. LPL Financial Chief Technical Strategist Adam Turnquist attributes the outperformance of the energy sector to its relatively cheap valuation and dividend yield, and recommends focusing on the exploration and production (E&P) subsector for the most value.
The US dollar maintains its dominant position as the leading global currency, with a 58.9% share of global currency reserves, despite a gradual decline over the past 20 years.
Higher gas prices boosted an inflation gauge closely tracked by the Federal Reserve in August, but measures of underlying inflation slowed, suggesting that overall price pressures are still moderating, potentially leading the Fed to leave interest rates unchanged at its next meeting.
Philadelphia ranks 10th in the United States for fastest-rising prices, with inflation slightly above the national average, but still better than the top three cities of Phoenix, Tampa, and Miami.
China's economic growth appears to be slowing down, with issues such as an aging population and a collapsing housing sector leading to speculation that the country's economic miracle may be coming to an end, while its diplomatic strategies have also caused strain on international relationships.
The government of India has increased the windfall tax on domestically produced crude oil to Rs 12,000 per tonne, while slashing the windfall tax on diesel exports and Aviation Turbine Fuel (ATF) exports.
China's increased imports of corn from Brazil have contributed to a decrease in U.S. corn prices, as weakening demand and high supply take a toll.
The mishandling of inflation, economy, and the federal budget in the United States has resulted in excellent saving and investment opportunities, with higher interest rates on Treasury bonds, CDs, corporate bonds, and annuity rates, benefiting those approaching retirement the most.
The labor market is showing resilience, but the rate of hiring has significantly slowed down, possibly due to fewer temporary job opportunities and working hours.
The core Personal Consumption Expenditures index in the US, which excludes gas and food prices, rose 3.9% for the 12 months ended in August, the lowest annual increase in two years and a positive step toward the Federal Reserve's target of 2% inflation.
Americans are becoming more concerned about a possible government shutdown and ongoing labor strikes, causing uncertainty and potential economic impacts, according to the University of Michigan's consumer sentiment survey.
Higher gas prices drove an increase in an inflation gauge tracked by the Federal Reserve in August, but measures of underlying inflation slowed, suggesting overall price pressures are moderating and raising the likelihood that the Fed will leave interest rates unchanged in its next meeting; however, the combination of higher gas prices and sluggish income growth may weaken consumer spending and mark a slowdown from last summer's healthy pace of spending.
Disney Plus is cracking down on password sharing in Canada, Northvolt plans to build a $5.2 billion battery factory in Quebec, Air Canada pilots picket at Pearson airport for better wages and working conditions, a witness to Tupac Shakur's shooting is indicted on murder charges, a man dies in an Edmonton mall parkade after standing up through a car sunroof, a lawsuit is filed in Michigan to disqualify Trump from regaining his old job, an emotional support alligator is denied entry into a baseball stadium, a Quebec man who threatened Trudeau and Legault is facing weapons charges, the federal government plans to cut $1 billion from National Defence budget, a high-ranking Toronto cop pleads guilty to interfering with promotions, and Canada's economy stalled in July and slightly improved in August.
Infrastructure stocks are predicted to thrive even in the event of a recession in 2024.
The federal government is at risk of shutting down unless a temporary spending bill can be agreed upon by a small group of Republican representatives; in the event of a shutdown, certain factors such as food aid, economic data, and federal employee salaries would be affected, while others including U.S. stocks, Social Security checks, and the U.S. Postal Service would not be impacted.
Stocks were unable to maintain their gains despite a milder inflation reading in the personal income and consumer spending report.
BlackRock CEO Larry Fink expresses concern over the lack of hope and abundance of fear in the global economy, emphasizing the need for optimism to drive financial outlooks and business investments. Fink believes that businesses and leaders should provide certainty and hope in order to prevent economic downturns.
President Joe Biden joined striking autoworkers on the picket line and voiced his support for the United Auto Workers union strike, but not everyone agrees with his viewpoint on unions. Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, criticizes Biden's claim and warns of a financial crisis worse than 2008. Schiff recommends investing in gold as a safeguard against the impending disaster.
The surge in global sovereign debt yields indicates that the global sovereign debt bubble, which has been building over the past 15 years, is bursting, with the combination of inflation and the disappearance of central banks as key buyers leading to a massive sell-off in global sovereign debt.
The inflation news is being replaced by recession news, leading to a decline in profits and job loss, but wage growth and corporate profits remain strong, suggesting a soft landing and potential rotation into average stocks.
Canada's gross domestic product (GDP) remained essentially unchanged in July, with zero percent growth, due to a decline in the manufacturing sector, weaker performance than expected, and shrinking industries such as agriculture, transportation, and retail. On the positive side, the mining and oil and gas sector experienced growth. Economists predict little to no growth in the third quarter, leading to expectations that the Bank of Canada will not make any changes to monetary policy for the rest of the year.
A potential US government shutdown could disrupt the release of important economic data, leading to market volatility and forcing investors to rely on alternative sources of information, potentially impacting monetary policy decisions and delaying key reports such as the October 6 payroll report.
Presidential front-runner in Argentina argues for the elimination of the peso and the closing of the central bank, citing the country's history of hyperinflation and corruption.
The Cuban government acknowledges the severity of the crisis in the country, with shortages of food, energy, and transportation expected to worsen in the coming weeks, leading to growing social discontent among the population.