US Commerce Secretary Gina Raimondo will visit China at a critical time as China's economy faces challenges that could potentially spread beyond its borders and impact the US relationship with the country, including falling consumer prices, a real estate crisis, slumping exports, and youth unemployment, while China continues its crackdown on foreign companies and a battle over crucial technologies escalates.
The South African rand strengthens against the US dollar as risk appetite returns to global markets due to falling US Treasury yields on the first day of the BRICS summit, although the summit is unlikely to provide significant or sustainable momentum until the bloc adopts implementable policies.
The People's Bank of China Governor's recent actions have left investors questioning if Chinese authorities are toying with global markets.
Conservative entrepreneurs and investors are developing a parallel economy called the "patriot economy," driven by the need for an economic infrastructure that does not rely on "woke" corporations and to insure against being shut out of the traditional economy. This alternative market is fueled by concerns over increasing politicization, deplatforming, and censorship by mainstream companies based on conservative beliefs.
Canadians are facing financial precarity with concerns about inflation, rising interest rates, and personal debt, with over 50% of Canadians saying they are only $200 away from being unable to meet their financial obligations.
Zimbabwean voters are facing a worsening economic situation as they head to the polls again, with President Emmerson Mnangagwa and challenger Nelson Chamisa vying for the top office in a country plagued by unemployment, inflation, and food insecurity.
Despite the promise of data analytics in agriculture, most farmers still do not use data tools or specialized software, and those who do often struggle with managing a large amount of data.
Global financial companies have sold $2 trillion worth of bonds in a record amount of time this year, with European lenders paying off central bank loans and Chinese firms strengthening their balance sheets amidst economic uncertainty.
Oil prices dipped due to the possibility of Iraqi exports resuming and concerns over China's weakening economy impacting demand.
The average American now needs to spend 43% of their income to afford a home, as mortgage rates soar to their highest levels since 2000, reducing housing affordability and causing a decrease in housing supply.
Oil prices dipped as the market awaited a potential resumption of Iraqi oil exports through the Ceyhan oil terminal, which could ease supply tightness caused by OPEC+ production cuts, while concerns over the Chinese economy weighed on demand outlook.
The Brics economic group, consisting of Brazil, Russia, India, China, and South Africa, is discussing the possibility of expanding its membership and promoting the use of local currencies for trade settlement, with aims to challenge the dominance of the US dollar, but analysts believe that the greenback is unlikely to lose its status as the international reserve currency.
Abu Dhabi's sovereign wealth fund, ADIA, will double its investment in an Australian real estate private credit vehicle, as traditional lenders have become more cautious about the sector.
Argentina should focus on fiscal spending cuts and a recession rather than adopting the dollar as its currency to address the recent peso crash, according to an economist.
Brazil is emerging as a significant alternative supplier of resources, including food and renewable energy, due to disruptions caused by the war in Ukraine and increased demand, despite continuing investments in fossil fuels like oil and gas. Brazil's role in the world economy is growing, attracting investments and partnerships with countries facing the challenges of climate change. However, Brazil is also seeking a neutral geopolitical stance and maintaining relations with Russia, while aiming to diversify its trade relations beyond China.
The top 10 African countries with the best inflation rates in mid-2023 include Seychelles and Burkina Faso with negative inflation, and other countries such as Botswana, Niger, and Mali with relatively low inflation rates.
Despite optimistic economic data and the belief that a recession has been avoided, some economists and analysts believe that a recession is still on the horizon due to factors such as the impact of interest rate hikes and lagged effects of inflation and tighter lending standards.
Government borrowing in the UK was lower than expected in July, sparking speculation about possible tax cuts later this year, however, analysts warn that the Chancellor may have little room for such cuts due to weakening economic forecasts and increasing interest rates.
Beijing needs to provide clarity on its economic plans and the national security crackdown in order to rebuild confidence in the future trajectory of China and address uncertainties, according to the head of a European business lobby in China.
US payrolls growth in the year through March is forecasted to be weaker by an estimated 500,000 jobs, according to a preliminary benchmark revision, however, average job growth is expected to remain strong at around 300,000 payrolls per month and economists do not anticipate a significant shift in labor market conditions.
Indian exporters are hedging more of their future foreign currency receipts as the rupee's decline to near record low levels allows them to lock in better exchange rates, with data showing that $3.6 billion was hedged in two sessions, a 60% increase compared to August levels.
U.S. stock index futures rise as Treasury yields decline, with tech stocks leading the rally ahead of earnings reports and Federal Reserve Chair Jerome Powell's upcoming speech.
The Pakistani rupee has hit a historic low against the US dollar due to increased demand for the dollar following eased import restrictions and political uncertainty ahead of the general elections.
Oil prices are dipping due to the possibility of easing supply tightness through Iraqi exports and concerns over a faltering Chinese economy impacting demand.
Greece's inflation rate rose to 3.5% in July, but it still remains the sixth lowest among EU members, with higher inflation rates observed in other countries such as Belgium, Luxembourg, Spain, Cyprus, and Denmark; however, Greece does have the ninth highest inflation rate in food compared to other EU nations.
China has fined US consultancy firm Mintz Group around $1.5 million for conducting "unapproved statistical work," raising concerns about China's openness to foreign investment.
Japan is unlikely to intervene in the market unless the yen weakens past 150 to the dollar and becomes a major political issue, according to a former central bank official, who also noted that the benefits of a weak yen are becoming clearer due to the re-opening of Japan's borders.
Japan will only intervene in the currency market if the yen drops below 150 to the dollar and becomes a major political issue for Prime Minister Fumio Kishida, according to a former central bank official involved in Japan's past market interventions.
Pressure is mounting in Indian kitchens as food prices, including tomatoes, onions, and potatoes, soar ahead of upcoming state and national elections, prompting potential fiscal populism measures from Prime Minister Narendra Modi's ruling party to mitigate the situation.
The "China Shock" in the 2000s resulted in a significant loss of manufacturing jobs in the United States, but the potential job loss associated with a green transition is not comparable and should not be exaggerated.
Italian Prime Minister Georgia Meloni's political party has claimed that southern Italy's GDP will exceed that of France and Germany, but this statement has been met with ridicule and criticism due to the region's long-standing economic disparities and issues.
China is making efforts to restore confidence among businesses and consumers after crackdowns on the private sector and harsh Covid restrictions have negatively impacted its economy.
Pakistan's textile industry is facing significant challenges, with textile exports falling by 15% and many mills and manufacturing units shutting down or facing closure due to lack of orders. The industry is also grappling with economic slowdown, disruptions in the global supply chain, and a decrease in cotton production. These issues have resulted in job losses and a decline in export volume, impacting not just the economy but also the livelihoods of many workers.
While strategic competitors in emerging markets are calling for change and the share of the US dollar held as official foreign exchange reserves has declined, it is unlikely that there will be a major shift in the US dollar's role as the central global currency due to the stability and reputation of the US government, as well as the challenges and limitations of other options like the renminbi.
The US dollar remains strong against major peers and the yen, as Treasury yields rise amid expectations of high US interest rates for a longer period, while China's central bank sets a stronger-than-expected daily midpoint for the yuan to counter mounting pressure on the currency.
The State College Borough Council voted to exercise eminent domain on local businesses for parking but ultimately repealed the motion due to public pressure and support for the businesses.
S&P Global has downgraded credit ratings and revised outlooks for multiple U.S. banks, citing funding risks and weaker profitability as factors that will test the sector's credit strength.
China's budget deficit has shrunk by more than a third this year, indicating cautious fiscal policy despite economic slowdown and a worsening housing market.
A dentist in California has pleaded guilty to stealing $500,000 in COVID-19 relief funds and has agreed to repay the full amount.
The yield on the 10-year Treasury bond is rising to its highest level since 2007, and this is due in part to reduced demand from foreign countries, such as Japan and China, who are diversifying their investments away from U.S. Treasurys.
Hiring sign posted in Downers Grove, Illinois suggests potential increase in job opportunities.
Despite booming retail sales in Turkey, many shopping centers are struggling with heavy debt, with 60 to 70 percent of malls already taken over by banks and the remaining ones fighting to survive, according to the president of the Council of Shopping Centers.
Rice prices in Asia have surged to their highest level in almost 12 years due to India's rice export ban and adverse weather conditions, leading to concerns about food price volatility and potential shortages of other food commodities in the region. Factors such as extreme climate events, the onset of El Niño, trade restrictions, and protectionist food policies are contributing to the situation. While most Asian countries can withstand a supply shock in rice, there are concerns about the impact on overall farm output and consumer price inflation, particularly for vulnerable populations.
Artificial intelligence is more likely to complement rather than replace most jobs, but clerical work, especially for women, is most at risk of being impacted by automation, according to a United Nations study.
The world may be entering a new economic regime characterized by uncertain scenarios and a potential shift away from the past era of balance sheet expansion, prompting business leaders to prepare for different future possibilities and adjust their strategies accordingly.
A significant number of jobs in various industries, including sales, clerical work, and hospitality, have been lost due to the COVID-19 pandemic, with some experiencing drops as high as 46 percent.
A recent survey conducted by Allianz reveals that 61% of Americans are more afraid of depleting their savings during retirement than dying, highlighting the concern over outliving one's financial means in old age.
Job searches for British jobs from overseas have surged since the relaxation of work visa rules for non-European Union nationals post-Brexit, with a record 5.5% of searches on Indeed's website in June coming from potential applicants outside the country.
A group of investors managing $7.3 trillion in assets has called on the G20 countries to align agricultural subsidies with climate and nature goals by the end of the decade, citing concerns over the risks to investment portfolios and the environmental damage caused by subsidies.
The cost of buying a home in the UK has become more difficult due to a steep surge in interest rates, despite wages increasing faster than house prices over the past year, according to mortgage lender Halifax.