Despite predictions of a slowdown, the American economy continues to show strong growth, with recent data suggesting annualized growth of nearly 6% in the third quarter; however, concerns about overheating and potential inflation, as well as increasing bond yields, raise doubts about the sustainability of this growth.
The Biden administration's incentives for foreign investment in advanced manufacturing, such as semiconductor production and renewable energy technology, have redirected foreign direct investment towards the factory sector in the United States, although the overall amount of investment has not significantly increased.
Argentina plans to use a $7.5 billion disbursement from the International Monetary Fund (IMF) to repay China part of the money it borrowed through a currency swap line, in order to avoid defaulting on its debt to the multilateral lender.
China's economy is at risk of entering a debt-deflation loop, similar to Japan's in the 1990s, but this can be avoided if policymakers keep interest rates below a crucial level to stimulate economic growth.
The euro fell to a more than two-month low against the dollar and a 12-month low against the pound after German and euro area business activity slumped in August, causing concerns about the overall economic health of the region.
Despite concerns about declining birthrates, the author argues against anxiety over population trends, stating that it is impossible to determine the optimal world population and predict future trends. They also suggest that rising affluence and technological advancements could potentially mitigate the burden of large families, and highlight the shifting anxieties over the racial mix of the world's population. Ultimately, they caution against viewing other cultures as abnormal based on one's own upbringing and emphasize the need for policies to address underlying issues rather than explicitly boosting fertility.
Macy's is reporting a significant increase in the number of customers failing to make credit card payments, leading to a decrease in credit card revenue and raising concerns about the broader state of the US economy.
Derrick Seaver has resigned as the CEO of the San Jose Chamber of Commerce, leaving the organization to search for its third leader in three years, creating a challenge for downtown San Jose as it tries to revive its struggling economy. Although Seaver helped stabilize the chamber, his departure leaves a void in advocating for the city's small businesses and addressing issues such as homelessness and vacant commercial spaces.
Major U.S. retailers are returning to "just-in-time" inventory strategies after pandemic-related shipping problems, reducing inventories by 4% in the second quarter and putting themselves in a better position for the peak holiday season.
The Bureau of Labor Statistics has revised down US job growth estimates by about 300,000 jobs, indicating weaker job growth than previously projected.
Consumer spending growth is slowing as the economy stabilizes, with consumers prioritizing essential purchases and adjusting their spending habits in response to rising interest rates and financial pressures.
Insurance companies facing bankruptcy due to climate disasters are a warning sign of an impending banking crisis, and urgent action is needed from regulators to prevent financial crashes and costly bailouts.
The cost-of-living crisis has gripped British politics, with rising inflation, high taxation, and increased interest rates, though not all Britons are equally affected, leading to trade-offs rather than severe hardship, posing challenges for the government and potential political consequences.
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As student loan payments resume, major retail and food chains in the US are warning investors about a potential slowdown in consumer spending, with retailers like Macy's, Target, and Ulta identified as particularly vulnerable due to their exposure to younger, low-income consumers with student loans.
Wildfires in Maui, Hawaii have caused an estimated $4 billion to $6 billion in losses for the local economy, including damage to insured properties and business interruptions, with rebuilding costs predicted to exceed $5.5 billion.
A global recession is looming due to rising interest rates and the cost of living crisis, leading economists to warn of a severe downturn in the post-Covid rebound.
China's leader, Xi Jinping, is promoting food production and offering subsidized land to farmers in an effort to reduce the country's reliance on imported food, but there is skepticism over whether people will embrace farming and if it will significantly increase food production.
The TSX has experienced three major downturns since 2000, including the Dot-Com Bubble, the Global Financial Crisis, and the COVID-19 Pandemic, but each downturn has eventually led to recovery and growth, emphasizing the importance of a long-term perspective and diversified portfolio.
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The risks of China's economic slowdown have not been factored into the markets yet, according to Insigneo Chief Investment Officer Ahmed Riesgo, who believes that the crisis of confidence in China's economy will soon become a major global risk.
GCC inflation remains below the global average due to factors such as reduced food costs, declining energy prices, and tighter monetary policies, according to an analysis by investment service provider Kamco Invest. The housing sector in the Gulf countries experienced inflation, while the communication and education sectors saw a decline in inflation rates.
The South African rand strengthened nearly 2% against the U.S. dollar after July inflation data came in lower than expected and the dollar weakened.
US mortgage applications for home purchases fell to their lowest level in 28 years, while refinancing also declined, as mortgage rates reached a 23-year high, according to data from the Mortgage Bankers Association.
Nike shares are continuing to drop as China's slowing economy affects the company, leading to its longest losing streak since its IPO in 1980. Other companies such as Starbucks and Qualcomm are also facing challenges in China.
Two tropical glaciers in Indonesia are at risk of melting by 2026 or sooner due to the lengthening of the dry season caused by the El Nino weather pattern, posing a threat to the country's water supply and ecosystem.
Canadian millennials, especially homeowners, are expected to face significant economic damage and high interest costs in the coming months due to rising interest rates, according to a report by RBC, leaving them vulnerable to job losses and straining their high levels of debt.
Canadian mortgage borrowers are increasingly opting for fixed interest terms, with a record 95% of mortgage originations in June being fixed rate, reflecting a desire to avoid short-term interest rate hikes while not missing out on potential rate cuts in the future.
Around $1.2 trillion of debt on US commercial real estate is considered "potentially troubled" due to high leverage and falling property values, with office spaces being the most affected and accounting for over half of the at-risk debt that will mature by the end of 2025.
Looting incidents across Argentina amid soaring inflation and upcoming elections have resulted in dozens of arrests, indicating increasing volatility in the country.
The war in Ukraine has caused an exodus of 817,000 to 922,000 people from Russia, exacerbating economic challenges and labor shortages for the country.
Saudi Arabia's Jadwa Investment has acquired a 35% stake in Kuwaiti fragrance company Gissah Perfumes through its private equity arm, Jadwa Retail Opportunities Fund. The acquisition aims to support Gissah's growth and prepare the company for a potential listing on the Saudi Stock Exchange. The timeline for the listing and the value of the investment have not been disclosed. Inflation rates in the Gulf Cooperation Council (GCC) countries remain lower than global averages, with declining food costs, energy prices, and dampened global demand contributing to the trend. However, inflation in the housing sector has been felt mainly in the GCC countries, with notable year-on-year growth in Saudi Arabia and Kuwait. In contrast, communication and education sectors have experienced declining inflation rates in most GCC countries. The Tadawul All Share Index in Saudi Arabia experienced a slight decline, while the parallel market Nomu saw gains in closing for the day. The MSCI Tadawul Index also slightly dropped. The best-performing stock on the main index was Salama Cooperative Insurance Co., while the worst performer was AL Maather REIT Fund. On the parallel market, Mayar Holding Co. experienced significant growth. India is expected to ban sugar exports for the upcoming season due to a lack of rain that has reduced cane yields. This would be the first time in seven years that the country has halted sugar exports. The absence of India from the global market could increase benchmark prices and trigger concerns about further inflation in global food markets. Africa is predicted to lead the next phase of global economic growth, with an increasing focus on economic collaboration among BRICS member countries. Intra-BRICS trade has expanded over the past decade, and Africa is seen as the next wave of global growth due to its younger generation, mineral reserves, and other resources.
Fresh signs of stress in U.S. consumer spending are emerging as retailers like Macy's and Foot Locker lower profit forecasts, indicating that middle-income Americans are spending less due to high living costs and existing card debt.
The latest results and forecasts from retailers indicate that U.S. consumer spending is under stress due to increased living costs and existing debts, posing challenges for the retail sector during the back-to-school and holiday seasons.
Latest results and forecasts from retailers indicate that U.S. consumer spending is under stress due to middle-income Americans spending less and struggling with debt, posing challenges for the retail sector during the back-to-school and holiday seasons.
India is expected to ban sugar exports due to a lack of rain, which would likely raise global benchmark prices and potentially contribute to further inflation in global food markets.
The US economy shows signs of slowing towards the end of summer, with the services-sector index falling to a six-month low and the manufacturing-sector index remaining in negative territory, suggesting a near-stall in business activity and raising doubts about the strength of economic growth in Q3.
The ultimate cause of a country's growth and wealth lies in its institutions, particularly those that promote economic freedom and access to private property rights, enabling individuals to freely compete and cooperate, according to economist Peter Jacobsen.
Recent profit reports from companies such as Amazon, Walmart, and Home Depot, along with other consumer statistics, indicate that the case for a 2023 recession is weakening, as the consumer economy shows resilience with rising real incomes, substantial savings, and continued spending in sectors like automobiles and services.
U.S. business activity in August approached stagnation, with growth at its weakest since February as demand for new business in the service sector contracted.
U.S. business activity in August approached stagnation, with the weakest growth since February and a contraction in the service sector, indicating a more tepid economic outlook than previously thought.
Global stock markets are expected to undergo a correction in the coming months, although analysts predict marginal gains overall until the end of 2023, with a majority believing that a correction in their local equity market is likely or very likely by year-end.
Global stock markets are expected to experience a correction in the coming months, although analysts predict marginal gains by the end of 2023, as concerns about underperformance persist and money market rates overshadow the appeal of equities.
Inflation in the Gulf Cooperation Council (GCC) countries remains lower than counterparts worldwide, with factors like reduced food costs and declining energy prices contributing to a global deceleration in inflation, according to an analysis by Kamco Invest. While inflation rates have declined over the first seven months of the year, global core inflation remains above central bank targets, particularly in the housing sector in Gulf countries.
Investors are expecting Federal Reserve Chair Jerome Powell to take a hawkish tone on interest rate policy in his upcoming speech, as the US economy continues to perform well and inflation remains elevated.
U.S. power producers have increased their electricity output from natural gas more than from clean power sources in the first eight months of 2023, as low wind speeds and high demand for air conditioners affected clean power generation; however, overall generation from coal decreased by 21%, demonstrating ongoing efforts to reduce pollution.
Qatar Investment Authority will invest $1 billion for a 1 percent stake in Reliance Retail Ventures, valuing the company at $100 billion. This investment comes after Reliance Retail Ventures raised about $6.4 billion from various investors, including KKR, General Atlantic, and the Saudi Public Investment Fund.
Bath & Body Works stock is down as lowered guidance dampens positive earnings.
Canadian retail sales rose more than expected in June, indicating a rebound in activity, particularly in the motor vehicle and parts dealers, sporting goods stores, and gas stations sectors, while spending on rate-sensitive products like furniture contracted.
New hires are experiencing declining wages in various sectors such as technology and transportation, which could impact job hopping and take time to reflect in federal data, posing challenges for the Federal Reserve in managing inflation.