Germany, once known for its economic success, is now the worst-performing major developed economy, facing challenges such as high energy costs, the loss of cheap Russian natural gas, and a slowdown in key trade partner China, which have exposed cracks in the country's foundation and sparked debate about the way forward.
According to Numbeo, the top 10 African cities with the least affordable housing are Douala, Addis Ababa, Algiers, Rabat, Alexandria, Tunis, Casablanca, Cairo, Marrakech, and Nairobi.
The stock market faces a major issue as the dollar reaches a crucial level and could potentially break out.
The Federal Reserve's decision to raise interest rates will continue to burden borrowers with higher bills on credit cards, student loans, car loans, and mortgages, while savers are rewarded with higher rates on savings accounts and certificates of deposit.
The United Auto Workers strike presents a risk to the U.S. economy, but it also demonstrates that workers are advocating for their fair share in a strong macroeconomy, according to Council of Economic Advisers Chair Jared Bernstein.
The Danish central bank has raised its economic growth forecast through 2025, attributing the increase to the success of Danish drugmakers such as Novo Nordisk, although it also noted that growth may be heavily skewed by activities outside of Denmark, particularly in the pharmaceutical industry.
The baht falls to a 10-month low and the Stock Exchange of Thailand declines as investors worry about the government's planned bond issuance to support stimulus policies.
China issued a stern rebuke against efforts to defame its economic prospects, stating that the rhetoric will not succeed and expressing confidence in its economic performance despite facing challenges and difficulties.
Small business owners are growing more optimistic about their future, with confidence levels approaching pre-pandemic highs, according to a recent survey.
Major U.S. companies are increasingly seeking manufacturing alternatives in countries like India to diversify their supply chains and reduce dependence on China due to the pandemic and escalating tensions between Washington and Beijing.
The Federal Reserve's poor forecasting record, evident in its inaccurate projections for interest rate increases and inflation, suggests that investors should not base their investment decisions on the Fed's predictions or any other forecasts.
The risk of a real estate bubble has decreased globally due to price corrections in 25 cities, with only Zurich and Tokyo remaining in the "bubble risk" category, according to UBS's Global Real Estate Bubble Index, while Frankfurt, Munich, and Amsterdam have moved to the lower-risk "overvalued" category.
The British media and entertainment sector has the potential to reach a value of £53.0 billion ($65.5 billion) by 2033, generating an additional £10 billion ($12.4 billion) for the UK economy, according to a report by Sky. The report highlights the need for government support in areas such as studio infrastructure development, reducing red tape, and reviewing tax incentives to unlock the sector's growth opportunities. Sky also emphasizes the role of British content in the success of the country's creative industries and predicts a 50% increase in international demand by 2033.
U.S. home price growth increased to 2.5% year-over-year in July, with Miami, St. Louis, and Detroit driving the growth, while 11 states saw annual home price declines, according to CoreLogic's latest home price index data. Rising mortgage rates and a lack of inventory are putting pressure on potential homebuyers, and pending home sales have seen slight upticks, particularly in the West and South regions.
China will accelerate the introduction of policies to consolidate its economic recovery, focusing on deepening reforms and further opening up, after the economy showed signs of stabilizing, according to state media.
The Federal Reserve is expected to keep its benchmark lending rate steady as it waits for more data on the US economy, and new economic projections suggest stronger growth and lower unemployment; however, inflation remains a concern, leaving the possibility open for another rate increase in the future.
Wall Street feels defensive as the US national debt surpasses $33 trillion and a government shutdown looms, potentially worsening the economy's current issues and increasing the likelihood of a recession, with the shutdown estimated to cost the US economy $6 billion per week and shave GDP growth by 0.1 percentage points in the fourth quarter of 2023.
Goldman Sachs predicts that crude oil prices could reach $100 a barrel, posing a risk to global economic growth and complicating central bankers' efforts to control inflation, which could impact interest rate policies and further increase gasoline prices.
China will expedite the implementation of additional policies to solidify its economic recovery, according to state media, in an effort to address the challenges posed by the uncertain property sector and maintain the upward momentum of the economy.
Tourism spending on Long Island reached a record high of $6.6 billion in 2022, surpassing pre-pandemic levels and indicating a strong recovery for local tourism, with the majority of spending concentrated in Suffolk County and driven by factors such as inflation and rising costs of goods and hotel stays.
Rising oil prices, closing in on $100 a barrel, pose a threat to the Federal Reserve's efforts to combat inflation, as higher oil prices can drive up the cost of gasoline and other crude-related products and squeeze the Consumer Prices Index higher.
The murder of Sikh separatist Hardeep Singh Najjar has intensified tensions between Canada and India, raising questions about the involvement of Canada's allies; Japan is preparing for a potential recurrence of the Great Kanto earthquake after 100 years; and country music is experiencing a surge in popularity among young people.
The migration of automakers to the anti-union South and the shift to electric vehicles is threatening the United Auto Workers (UAW) union, as fewer plants in the South are unionized and EV jobs pay less than traditional auto jobs, raising concerns about lower compensation and the future of unions in the auto industry.
Ukrainian President Zelensky calls for a united front against Russian aggression in his speech at the UN General Assembly and asks former President Trump to share his peace plans, claiming that Trump could get a "fair deal" with Putin to end the war in Ukraine.
The prospect of the Bank of England pausing its interest rate hikes increased as the UK's high inflation rate unexpectedly slowed to an 18-month low, causing the pound to fall and investors to see a nearly 50-50 chance of rates staying on hold at the BoE's September meeting.
The Federal Reserve is expected to keep interest rates unchanged as it faces economic and political risks while trying to combat inflation.
The Ghanaian government has filed for bankruptcy after failing to pay billions of dollars it owed to international creditors, raising concerns about future financial stability due to the ongoing debt crisis linked to COVID-19, geopolitical events, and rising food and fuel prices.
The Ghanaian government has filed for bankruptcy after failing to pay billions of dollars in debt to international creditors, necessitating a $3 billion loan from the International Monetary Fund to stabilize the economy and address the ongoing debt crisis linked to COVID-19, geopolitical events, and rising food and fuel prices, raising concerns about future financial stability.
Inflation in the UK fell to 6.7% in August, the lowest level in a year-and-a-half, driven by slower food price increases and a drop in hotel and air fare costs, although fuel prices rose; economists had expected the figure to increase due to rising fuel prices.
Gas prices in the US have reached their highest level in 11 months, posing challenges for the Federal Reserve in its campaign to control inflation. Factors contributing to the increase include rising oil prices, production cuts by Saudi Arabia and Russia, reduced refinery production due to hot weather, and low reserves in the Strategic Petroleum Reserve. However, prices are expected to decrease with the switch to a cheaper gasoline blend in the fall and projected global economic slowdown in 2024.
A policy brief argues for a rational trade policy to tackle food inflation that considers the interests of both consumers and producers, criticizing recent government measures such as export bans and increased export duties as knee-jerk approaches.
Federal Reserve officials are expected to leave interest rates unchanged at their meeting, but investors will be focused on whether there will be another rate increase before the end of the year.
Immigrants have played a significant role in meeting the surging demand for workers in the US, helping to cool inflation and potentially avoiding a recession before the 2024 election by filling job vacancies and boosting the labor force participation rate.
Americans are facing persistent inflation and a high cost of living, but elite economists and academics are disconnected from the reality and dismissive of the struggles of everyday Americans.
A study reveals that the recent increase in women's participation in India's labor force is mainly due to self-employment driven by distress rather than economic growth.
Chinese officials express confidence in the country's economic outlook, despite projections of weakness by institutions such as the Asian Development Bank and the Organization for Economic Cooperation and Development, citing improved factory output and tourism figures as signs of recovery.
Sweden's government plans to implement tax cuts and increase spending on welfare, defense, and the criminal justice system in its 2024 budget, while keeping inflation in check.
The European Union is unlikely to impose new tariffs on Chinese electric cars as the anti-subsidy probe must be conducted properly, according to a European Commission official.
Inflation in Britain slowed for a third consecutive month in August, defying expectations of a rise due to higher fuel prices, with consumer prices rising 6.7 percent compared to the previous year, driven by slower increases in food prices and a decline in hotel room costs. Core inflation also fell more than anticipated, indicating a potential easing of inflationary pressures, though price growth remains uncomfortably high. The Bank of England is set to announce its decision on interest rates, with growing speculation that rates may be held steady due to signs of slowing inflation and a weak economy.
The resumption of student loan payments in October is expected to negatively impact American economic growth and could harm borrowers and the wider economy alike, with economists predicting a potential disruption to the growing economy and a reduction in consumer spending.
UK inflation unexpectedly fell in August to 6.7%, easing pressure on the Bank of England to raise interest rates, with falling prices for hotels and air fares offsetting the rising cost of fuel.
Developing countries, including the BRICS alliance, are looking to end reliance on the US dollar due to increasing debt and the threat of inflation, which could lead to a decline in the dollar's value and a rise in prices. Economist Peter Schiff warns of a tragic ending for the US dollar if other countries continue to move away from it.
China's commerce ministry has imposed new restrictions on the export of gallium and germanium compounds due to national security concerns, potentially impacting China's technology industry ambitions.
China's local authorities have amassed trillions of dollars in hidden debt, requiring the central government to consider drastic measures like enabling the sale of bad debt to asset managers and increasing tax revenue allocation to resolve the issue.
Namibia's recent discovery of an estimated 11 billion barrels of oil has the potential to double its economy by 2040, but the country must avoid the corruption and inequality that has plagued other African nations with oil wealth, according to experts and officials.
The Vice Chairman of China's state planner, the NDRC, expressed that the economy is facing numerous difficulties and challenges, but domestic macro-control policies are effective and efforts will be made to achieve annual economic growth targets.
Former central bank governor Zhou Xiaochuan believes that China can fuel regional growth and Hong Kong can play a critical role in this, especially through its participation in the Belt and Road Initiative and its position as a global financial hub.
India and Canada have expelled senior diplomats and bilateral ties have worsened after the killing of Khalistani terrorist Hardeep Singh Nijjar, leading Canada to issue a travel advisory for India warning of terrorism and civil unrest.
China maintains benchmark lending rates unchanged as signs of economic stabilization and a weakening yuan lessen the need for immediate monetary easing.
Treasury Secretary Janet Yellen states that U.S. growth needs to slow to its potential rate in order to bring inflation back to target levels, as the robust economy has been growing above potential since emerging from the COVID-19 pandemic. Yellen also expects China to use its fiscal and monetary policy space to avoid a major economic slowdown and minimize spillover effects on the U.S. economy.