Hiring sign spotted in Downers Grove, Illinois.
The Thai baht is expected to weaken further due to increased volatility in global money and capital markets after the US Federal Reserve's hawkish comments regarding its benchmark interest rate.
The Washington State Community Economic Revitalization Board has approved $6.6 million in loans and grants to support economic development and infrastructure improvements in four counties, including funding for a sustainable fertilizer plant and job creation.
Canada's carbon tax is being blamed for spiking food costs, although experts cannot agree on how much it is actually contributing to food inflation.
The Bank of Japan's policy meeting concludes one of the most intense weeks for central bank decisions, following the Federal Reserve's 'hawkish pause' and resulting in global market volatility.
US special representative for Ukraine economic recovery discusses how Ukraine can rebuild its economy despite ongoing war.
Protests in Ghana against the rising cost of living and economic crisis led to the arrest of 49 protesters, including journalists, as the country faces ongoing economic difficulties and IMF bailouts.
The number of job layoffs in the U.S. remains near a record low despite rising interest rates and high inflation.
Michael Contopoulos, director of fixed income at Richard Bernstein Advisors, discusses rising interest rates, the Federal Reserve's future actions, the current state of the economy, and other related topics on 'Fast Money.'
JSW Steel, India's largest steelmaker, is slowing down the process of buying a stake in Teck Resources' steelmaking coal unit due to the deteriorating trade ties between India and Canada.
Home sales in the American Midwest defied the national trend by increasing in August, while sales across the country declined, due to high mortgage rates and low supply, according to data from the National Association of Realtors. Overall, home sales decreased by 0.7% in August and over 15% from the previous year, but analysts noted a stabilization in the market. The Midwest saw a 1% increase in home sales compared to July, but a more than 16% decline compared to the previous year.
China's economic woes may not be catastrophic as its policymakers and the country's vast resources, coupled with its massive economy and global interconnectedness, offer potential for recovery despite mounting financial and geopolitical pressures.
Existing home sales fell 0.7% in August due to limited supply caused by higher mortgage rates, leading to rising home prices despite lower sales, according to the National Association of Realtors.
Some Chinese cities are suffering from financial difficulties due to debt and deflation, leading to the implementation of bizarre fines and budget cuts to generate revenue, as the nation faces the risk of an economic "lost decade."
The number of Americans filing new claims for unemployment benefits decreased to an eight-month low, indicating a tight labor market despite slowing job growth.
Climate-related disasters in the US since 1980 that exceeded $1 billion in damage have had a profound economic impact, but they don't fully capture the hidden costs, such as mental and physical trauma, environmental damage, and supply-chain disruptions that people are paying for, as extreme weather events become more frequent and intense due to climate change.
The yen's purchasing power has reached a historic low as it continues to depreciate against the dollar and other currencies, leading to higher travel and import costs for Japanese.
U.S. equities fall after the Fed hints at higher interest rates, while homebuilder and Cisco shares decline, and FedEx shares soar.
The average long-term U.S. mortgage rate has increased, posing challenges for homebuyers in an already unaffordable housing market.
Central banks around the world may have reached the peak of interest rate hikes in their effort to control inflation, as data suggests that major economies have turned a corner on price rises and core inflation is declining in the US, UK, and EU. However, central banks remain cautious and warn that rates may need to remain high for a longer duration, and that oil price rallies could lead to another spike in inflation. Overall, economists believe that the global monetary policy tightening cycle is nearing its end, with many central banks expected to cut interest rates in the coming year.
US mortgage rates remain above 7% for the sixth consecutive week as inflation pressures persist, leading to cooling housing demand and a decline in builder sentiment, according to Freddie Mac's chief economist.
Saudi Arabia's Vision 2030 is driving the transformation of Riyadh into a global destination through the implementation of eight mega-projects, including Sports Boulevard, New Murabba, Qiddiya, and King Salman Park, which aim to create sustainable and innovative urban spaces, promote sports and recreational activities, enhance cultural and heritage sites, and provide entertainment and leisure options for residents and visitors.
Portugal's government has announced that banks must reduce mortgage interest rates for borrowers struggling with rising interest rates, by discounting the benchmark six-month Euribor rate by 30%.
A subtropical depression or storm forming off the Southeast coast could bring gusty winds, heavy rain, and high surf conditions to the Mid-Atlantic and Northeast by the weekend, with potential coastal flooding and dangerous rip currents.
Russia's economy is facing stagnation due to poorly timed interest rate hikes and high inflation, according to economists, despite President Putin's claims that the country's financial problems are manageable.
The Indian government has reminded television channels to avoid giving platforms to individuals with criminal or terrorist backgrounds and those belonging to banned organizations, in light of recent security threats and the suspension of visas for Canadian citizens.
China is urged to alter its trade and investment approach in Mexico due to the country's new tariffs on imports, which are creating uncertainties and affecting China's exports and investment in Mexico.
The retail, leisure and hospitality, and accommodation and food services industries experienced wage growth that outpaced inflation due to the high demand and staffing shortages after the pandemic, but there are no guaranteed inflation-proof industries, and it is important for individuals to focus on securing jobs that offer upward mobility and higher income to keep up with inflation.
Sales of previously owned homes in the US fell for the third consecutive month in August, as higher mortgage rates, rising prices, and a lack of available properties have limited homebuyers' options.
Central banks, including the US Federal Reserve, European Central Bank, and Bank of England, have pledged to maintain higher interest rates for an extended period to combat inflation and achieve global economic stability, despite concerns about the strength of the Chinese economy and geopolitical tensions.
The leading economic indicator dropped 0.4% in August, marking the 17th consecutive month of decline, but there is no indication of a recession in the U.S.
The Federal Reserve has paused its interest-rate hike campaign, but this decision provides little relief to debt-ridden Americans as credit card rates have surged to a new record of 20.71%, making it harder for individuals to pay down their debt.
India-based battery materials producer Lohum has signed a partnership agreement with Nepal to supply 25,000 million tonnes of EV battery materials by 2028, helping Nepal increase its clean energy capacity and reduce its dependence on Chinese imports while complying with waste management policies.
The Turkish central bank has increased interest rates by five points to 30% in an effort to combat soaring inflation, which is above expectations, and the bank suggests that more rate hikes are likely in the future.
The Bank of England has paused its interest rate hike campaign and kept the borrowing cost at 5.25% due to unexpectedly falling inflation in August, providing relief to UK households and potentially leading to cuts in mortgage rates. The decision was a close vote and the central bank hinted that borrowing costs would need to remain high for a sustained period to ensure a fall in inflation. Despite this, many analysts expect no further rate hikes.
Tech salaries in the US have experienced a significant decline in the past year, with local roles seeing a 3% drop and salaries hitting their lowest point in five years, according to Hired's 2023 State of Tech Salaries Report. Junior talent, specifically professionals with less than four years of experience, had the most significant salary decrease at nearly 5% year on year, while the demand for junior staff also declined. However, the tech industry still offers an average salary of $158,000, nearly double the average US knowledge worker.
China's top leadership is pressuring provincial authorities and state-owned enterprises to repay debt owed to private companies in an effort to address the issue of triangular debt, which is hampering economic growth; the campaign aims to ensure that state-owned enterprises take the lead in repaying debts.
Credit card interest rates have reached historic highs, with the average rate hitting 20.68% in May, leading to concerns about the potential snowball effect and long-term financial consequences for consumers.
The center of political and economic gravity in Brazil has shifted from the coast to the interior, specifically the agricultural farmbelt, leading to a boom in population and economic growth in these areas.
The increase in hazardous areas, climate change, and bad policy have led to a growing number of properties in America becoming uninsurable, with insurers pulling out of vulnerable areas and homeowners facing rising rates and canceled policies.
South Africa's poultry industry is facing chicken shortages due to bird flu outbreaks and frequent electricity cuts, leading to increased costs and losses for Astral Foods, the country's largest producer.
Turkey's central bank raised its key interest rate by 5 percentage points, reaching 30%, in an effort to combat inflation and stabilize the economy under President Erdogan's more traditional economic policies.
The Philadelphia Fed's gauge of regional business activity fell back to negative 13.5 in September after briefly entering positive territory in August.
Markets on Wall Street are expected to open with losses after the Federal Reserve suggests it may not cut interest rates next year by as much as previously thought, leading to a decline in futures for the S&P 500 and Dow Jones Industrial Average; uncertainty surrounding inflationary indicators and high rates is a major concern for traders moving forward.
UK homeowners are feeling the strain as interest rates remain high, with many struggling to afford increased mortgage payments and considering drastic measures such as taking in lodgers or canceling expenses in order to make ends meet.
The federal government has restarted the program to order free Covid-19 tests, with a limit of one pack per residential address; Donald Trump plans to skip the third Republican presidential debate; Amazon cancels a planned additional 2% fee for third-party merchants; the Federal Reserve holds interest rates steady; oil prices reach a 10-month high; entrepreneur Shlomo Kramer plans to take Cato Networks public; startups are buying Nvidia's graphics processing units; Uber Eats will allow food stamp recipients to order groceries from its app; authors including George R.R. Martin sue OpenAI for copyright infringement; Klaviyo goes public and its stock pops by 23%; Spanish olive oil prices reach a record high; employers plan a calculated approach to hiring amidst economic uncertainty.
The text discusses the recent disappearance of a member of China's government and its implications for the leadership of the People's Liberation Army, as well as Apple's concerns beyond its new iPhone, and the popularity of an old-school motorbike in India.
The Bank of England has halted its series of interest rate increases due to a slowdown in the British economy, but remains cautious about the recent fall in inflation.
Billionaire investor Jeff Gundlach predicts another rate increase by the Federal Reserve due to a surge in oil prices, which is expected to rekindle inflation pressures.
The difference between two consumer sentiment measures suggests a slowdown in the U.S. economy, indicating a potential recession.