German Chancellor Olaf Scholz's government has agreed upon a €7 billion tax relief plan for companies in an effort to revive the country's economy, which has been stagnant due to the impact of Russia's invasion of Ukraine. The plan includes corporate tax cuts and measures to encourage investment in Germany.
The addition of six new members to the BRICS grouping will increase its control over 46% of the world's population and 30% of its economic output, which could lead to a new global order and a credible alternative to the dominance of the Global North, according to a research paper.
HSBC's chief multi-asset strategist believes that it is a tempting entry point for U.S. equities and discusses the dollar index strength's signal for the global market.
The second quarter of 2023 saw a consistent rise in borrowing among Canadians, with subprime borrowers experiencing the highest increase in credit balances due to higher spending habits and elevated interest rates on variable-rate loans. Demand for new credit also grew significantly, leading to a total Canadian household debt of $2.3 trillion.
China's rebound from zero-covid restrictions has resulted in weak growth and deflation, with the lack of consumer spending becoming a major concern for policymakers.
The resilience of the US economy, earnings, and markets can be attributed to changes in the structure and maturity of private sector debt, which has made them less sensitive to monetary policy and interest rate hikes.
The trend of hefty pay increases for new hires is reversing, with the average posted pay for more job titles declining rather than increasing so far this year, according to data from ZipRecruiter, indicating a potential end to a brief golden age of wage growth for job seekers.
Chinese investments in Brazil dropped by 78% in 2022, reaching the lowest level in 13 years, primarily due to a decrease in funds allocated to resource projects, according to the Brazil-China Business Council.
Even as the United States tries to reduce its reliance on Chinese goods, research suggests that global supply chains remain deeply interconnected, with Chinese products making their way into America through other countries. Changes in trade relationships and supply chains have caused China's share of US imports to decline, but countries like Vietnam and Mexico have seen an increase in imports from China, indicating that Chinese firms are still heavily involved in the supply chains. This reshuffling of supply chains has led to higher prices for goods and calls into question whether the US has truly lessened its dependence on China.
Stocks are expected to decline as mortgage rates soar, causing many Americans to be unable to move and resulting in a bubble in home prices, according to economist David Rosenberg.
Carrefour CEO Alexandre Bompard warns of a "non-spending tsunami" in France due to high prices and calls for the government to delay a law limiting promotions, as retailers and the government blame each other for the increase in the cost of living.
Despite the turmoil in China's real estate market, iron ore prices have remained high, suggesting that demand for construction and manufacturing materials is still strong and indicating that China's economy may not be as bleak as other data suggests.
Retail earnings indicate a slowdown in consumer spending for late 2023, causing investors to be uncertain about the direction of the market and retailers to consider discounting to attract budget-conscious consumers.
Rates on 30-year mortgages dipped lower on Monday, moving further below last week's historic peak, with 5/6 ARM loans showing the biggest daily drop, while averages for most other loan types remained relatively stable.
The BRICS' economic output represents over 40% of the world's population and is predicted to reach 40% of global GDP by 2040, but skepticism remains about their effectiveness as a bloc due to differences in economic policy, China's dominant role, and conflicts among member countries.
U.S. job openings reach lowest level in nearly 2.5 years in July, signaling a slowdown in the labor market and potential impact on interest rates.
Consumer confidence in the US fell in August due to concerns about inflation, reversing the optimism from the past two months, according to The Conference Board's Consumer Confidence Index.
US consumer confidence dropped to 106.1 in August from 114 in the previous month, reversing gains made in June and July, with economists blaming higher gasoline prices as a key factor behind the decline.
A Pew survey reveals that while India is viewed favorably in most nations of the G20, the number of European residents with a positive view of India has declined in the past 15 years.
Emerging markets were shaken by investor concerns over the US economy and the strengthening dollar, causing an equity rally led by China's stimulus plans to be short-lived.
China is expected to use up its record annual quota on special-purpose bond sales by October in an effort to spur infrastructure-fueled economic growth amidst a property-market crisis and mounting debt pressures.
The Federal Reserve is losing its power to influence the US economy, according to Wall Street economist Richard Koo, potentially requiring higher interest rates to drive inflation down and leading to a selloff in stocks and bonds.
The Biden administration has identified 10 expensive prescription drugs, including blood thinners, diabetes treatments, and cancer drugs, for price negotiations with pharmaceutical manufacturers in an effort to reduce Medicare drug costs and ease the financial burden on beneficiaries, although the fate of the negotiation plan is uncertain due to ongoing lawsuits.
Canada's upcoming gross domestic product (GDP) reading is expected to be closely watched by the Bank of Canada (BoC) ahead of its September interest rate decision, with economists predicting a slowdown in the second quarter that could lead to a pause in interest rate hikes despite higher-than-expected inflation. The impact of recent wildfires and a dock workers strike is also expected to affect the data.
China's post-pandemic economic recovery has fueled growth in the internet sector, including e-commerce, ride-hailing, and online travel, with the number of internet users reaching 1.08 billion and online retail sales reaching 7.16 trillion yuan in the first half of 2023, according to a government survey.
China's imports of thermal coal are expected to increase in August as seaborne prices remain competitive and domestic supplies are constrained, with robust demand for imported coal driven by increased thermal power generation and declining hydropower generation.
Sibanye Stillwater remains in the running to acquire Mopani Copper Mines in Zambia, despite the sale process exceeding the expected completion date. The South African mining company is seeking to expand its copper portfolio as part of its strategy to focus on metals necessary for the green revolution.
India has reduced the price of cooking gas by 18% in order to control inflation and gain voter support ahead of upcoming elections.
Air pollution continues to be the greatest external risk to human health globally, with Asia and Africa being the most affected regions, according to a report by the University of Chicago's Energy Policy Institute. The adverse health effects of air pollution are concentrated in six countries, and if pollution levels were reduced to World Health Organization recommendations, global average life expectancy could increase by 2.3 years. While China has made notable progress in reducing pollution, other parts of the world are experiencing an increase in pollution levels.
China's economy is struggling due to an imbalance between investments and consumption, resulting in increased debt and limited household spending, and without a shift towards consumption and increased policy measures, the economic slowdown may have profound consequences for China and the world.
A severe drought in Sri Lanka is threatening the country's summer rice harvest, which has already been hit by last year's financial crisis, causing widespread unrest and ousted its former president, as well as skyrocketing prices of inputs and a shortage of fertilizers.
China's largest banks are preparing to cut interest rates on existing mortgages and deposits in an effort to stimulate consumer spending and support economic growth; the move is part of the government's targeted measures to alleviate pressure on lenders' profit margins and encourage investment in the stock market.
Argentina's front-runner presidential candidate, Javier Milei, plans to scrap the peso currency and cut taxes on grains, but advisors state that implementing these proposals would take time and may require the use of executive decrees to bypass congressional hurdles.
Javier Milei, the radical presidential front-runner in Argentina, may need time to fulfill his campaign promises of scrapping the peso currency and reducing taxes on grains if elected, according to advisers, who suggest he could use executive decrees to avoid congressional obstacles.
Forecasters have decreased their growth expectations for China due to deflation, rising youth unemployment, and a property-market crisis, with GDP predicted to rise by only 5.1% in 2023 and 4.5% in 2024.
The article discusses the economic challenges faced by a G7 economy and explores the environmental costs of larger electric vehicles, as well as the decline in Mandarin learning.
China is facing increasing financial stress as a property giant seeks to avoid default and a state-run bad debt manager experiences a bond slump, contributing to concerns about the country's economy.
Ukrainian farmers are expected to maintain the same area of winter wheat sowing for the 2024 harvest, despite higher logistics costs during the wartime export crisis.
Six new countries, including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, are set to join the BRICS economic grouping, leading to concerns about the potential impact on the Western world's sustainability goals and the global financial system.
The top 10 African countries with the highest GDP per capita are Seychelles, Mauritius, Libya, Botswana, Gabon, South Africa, Equatorial Guinea, Namibia, Egypt, and Swaziland.
China's economy is experiencing a structural slowdown and becoming increasingly opaque, making it difficult for outsiders to understand the true state of the country's economic affairs, as President Xi Jinping prioritizes ideology over economic growth and transparency.
German consumer confidence is expected to decrease in September due to persistently high inflation rates and a lack of clear upward or downward trend in the consumption climate.
Many ordinary Chinese are experiencing a widespread economic slowdown characterized by pessimism and resignation, despite Beijing's attempts to downplay concerns and project a positive narrative.
The Japanese government is considering extending fuel subsidies until the end of the year to keep gasoline prices below 180 yen a liter while working on a supplementary budget for other measures to alleviate the cost of living.
Saudi Arabia experienced a sharp decline in its foreign reserves, with a drop of over $16 billion last month, marking the largest decrease since the negative oil prices during the pandemic as the country invested in US stocks using its savings.
A Melbourne woman shares the four things she has been forced to give up due to the cost-of-living crisis, including food, clothing, vinyl albums, and happiness.
Prices in British shops have risen at their slowest rate since October, with a 6.9% increase in the year to August, due to rising costs of meat, potatoes, and cooking oil, as well as a reduction in grain exports from Ukraine and export restrictions on rice from India, according to the British Retail Consortium.
U.S. Commerce Secretary Gina Raimondo has stated that American companies are viewing China as "uninvestible" due to fines, raids, and other risky actions taken by the Chinese government, presenting a bleak picture of American firms' perception of doing business in China.
German consumer sentiment is expected to decline in September due to decreasing income expectations and propensity to buy, hindering overall economic development and growth prospects in the country.
China's extension of tax exemptions for expatriates until the end of 2027 is seen as a positive move that could help retain foreign talent and companies in the country, according to foreign business groups. The extension of individual income tax benefits for expats, which were set to expire at the end of the year, is expected to curb the outflow of foreign talent that has occurred in recent years. This move is seen as a victory for sustained advocacy and a sign that the Chinese government is listening to calls for change.