The number of corporate bankruptcies in the US is increasing at the fastest pace since 2010, with over 400 corporations going under so far in 2023, reflecting overstretched balance sheets and rising interest rates.
Canada's housing minister, Sean Fraser, has suggested the possibility of capping foreign student visas due to the immense pressure they have put on housing markets in recent years.
China's largest private real estate developer, Country Garden, is in financial trouble, missing bond payments and posting a record loss, signaling further concerns about the country's property sector as housing prices and foreclosures continue to rise, while other economic indicators, such as industrial output and retail sales, fall short of expectations; these developments are raising concerns about the overall health of China's economy and its future growth prospects.
China's Belt and Road Initiative is facing financial troubles as approximately $78 billion worth of external loans are either in default or under renegotiation, giving the US an opportunity to gain leverage with indebted countries.
Asian stocks, particularly Chinese markets, may find some relief after Wall Street's resilience in the face of rising bond yields, though economic data from China remains underwhelming and foreign investors continue to sell Chinese stocks.
Despite the weakening Israeli shekel and concerns over proposed changes to the country's judicial system, Fitch Ratings believes that the modifications have been sufficiently diluted to avoid causing long-term damage to Israel's resilient economy. Fitch's decision to affirm Israel's credit rating is based on the expectation that the government will not move towards a hard-rightwing stance and that Israel will continue to attract investment and talent.
US bond-market selloff continues as resilient economy prompts investors to anticipate elevated interest rates even after the Federal Reserve finishes its hikes, leading to a 16-year high in 10-year yields and increased inflation expectations.
Wages of job offers received by job seekers have spiked, with expectations for wages increasing by 11.8% from a year ago, indicating that inflation is impacting the labor market and fueling concerns about even higher inflation.
The British Virgin Islands (BVI) is facing challenges to its offshore financial industry due to global efforts to combat money laundering and tax evasion, resulting in a decline in the number of companies registered there; however, the BVI is seeking to diversify its financial and corporate services and promote tourism to sustain its economy.
The British Virgin Islands' offshore financial industry, which accounts for one-third of GDP, is facing challenges due to global efforts to combat tax evasion and corporate transparency, leading to a decline in the number of companies registered in the territory and concerns about its economic future.
The majority of Americans are unable to pay off their credit card debt in full each month, with 51% of individuals rolling over their balances and accruing interest, according to a survey by J.D. Power. This marks a significant shift from previous years and is attributed to factors such as inflation, dwindling savings, rising interest rates, and increased everyday use of credit cards.
The Chinese bond market is experiencing a significant shift due to concerns over China's economic growth prospects, including a bursting property bubble and lack of government stimulus, leading to potential capital flight and pressure on the yuan, which could result in increased selling of US Treasuries by Chinese banks and a rethink of global growth expectations.
China's real estate market is experiencing a significant downturn, causing major developers to face massive losses and mounting debts, which is impacting the country's economy and global growth.
China's economy is facing a downward spiral due to a crisis in the debt-laden property sector, prompting seven city banks to reduce their growth forecasts for the country; concerns include falling into deflation, high unemployment rates, and the need for more proactive government support.
After a strong surge in June and July, the S&P 500 index has experienced a significant decline in August, with tech stocks being hit particularly hard, as fears of rising interest rates and a slowdown in China weigh on the market.
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Despite the fear of disruption, America's corporate giants have remained secure and have experienced little competitive disruption, with factors such as inertia, regulatory advantages, and the ability to adapt to digital technologies contributing to their endurance.
Over half of U.S. small business owners believe the economy is already in a recession, though their own financial conditions remain strong and they have less concerns about the health of their banks, according to a survey by the National Federation of Independent Business.
The Summary of Economic Projections by the Federal Open Market Committee (FOMC) reveals that policy disagreement among participants has been increasing recently, with a correlation between disagreement about future inflation and policy disagreement, although other factors also contribute to the level of disagreement.
The middle class in the US is burdened by medical debt, with almost a quarter having unpaid healthcare bills, and they are less likely to qualify for financial assistance and debt relief compared to lower-income individuals; in response, Surgeon, a medical debt relief program, allows patients to pay by volunteering.
Gartner's updated IT spending forecast for 2023 predicts a 16% increase in datacenter system spending, a 13.5% increase in enterprise software sales, and an 8.9% increase in IT services spending, contributing to an overall global IT spending growth of 4.3% to $4.71 trillion.
The inclusion of oil-producing countries like Saudi Arabia and the UAE into the BRICS alliance could lead to 90% of the world's oil trade being settled in local currencies instead of the USD, potentially triggering a shift away from the U.S. dollar and impacting the global finance system.
Mortgage rates have surged, reaching the highest level since 2000, due to concerns about high interest rates and inflation lasting longer than anticipated, causing difficulties for potential homebuyers and exacerbating the supply shortage in the housing market.
China and Russia's flourishing trade is leading to the supply of trench-digging machines to Ukraine's front lines.
India has imposed an export tax on onions in an effort to control food inflation as elections approach.
The exodus of Wall Street banks and big tech firms from California and New York has cost the states nearly $1 trillion each in managed assets, as well as thousands of high-paying jobs and tax revenue, with companies and individuals opting for lower-tax states like Florida and Texas.
A housing bubble can lead to a crash that negatively impacts homeowners and the economy; here are five signs of an impending crash and ways to protect yourself financially.
India's tax-GDP ratio of 17.7% is argued to be in line with its development status, according to the GOI's revenue secretary and joint secretary.
The New Development Bank (NDB) plans to issue its first Indian rupee bond by October, as the bank aims to raise more funds and lend in local currencies, according to its chief operating officer, Vladimir Kazbekov.
India and the Association of Southeast Asian Nations (ASEAN) have agreed to review their trade pact by 2025, aiming to enhance and diversify trade while addressing the bilateral trade imbalance.
Sales of the weight-loss drug Wegovy, manufactured by Novo Nordisk, have led to lower interest rates in Denmark due to an influx of US dollars into the country's economy, which has pushed up the value of the Danish krone.
Germany may be experiencing economic decline, China's youth are growing disillusioned, and AI technology could potentially replace the need to learn foreign languages, according to The Economist's latest podcast.
India's direct selling sector has experienced a 5.4% growth in 2022, propelling the country to the 11th position in the global ranking of top direct selling markets, with retail sales amounting to $3.23 billion.
Goldman Sachs analysts predict that the U.S. government is "more likely than not" to shut down later this year due to spending disagreements, which could temporarily impact economic growth by reducing it by 0.15-0.2 percentage points per week, with past shutdowns having minimal impact on equity markets.
The economic troubles in Russia have led to increased investment from the United Arab Emirates (UAE) in Russian oil and gold markets, while wealthy Russians are flocking to the UAE, boosting its economy and causing a real estate boom.
Consumers have spent most of their excess savings from the Covid-19 pandemic, and this trend is expected to continue until the third quarter of 2023, potentially leading to a slowdown in economic growth and job market expansion.
India's decision to impose a 40 percent export duty on onions may exacerbate food inflation in Gulf Cooperation Council (GCC) countries and disrupt supply chains, potentially leading to shortages and price fluctuations. However, the impact is expected to be temporary, and other onion-producing nations may respond to the higher prices by increasing their supplies. GCC countries may need to consider diversifying their sourcing of onions and bolstering domestic cultivation to mitigate future vulnerabilities.
China's slowing economy and worsening macroeconomic indicators may be good news for oil prices, as it could lead to changes in monetary policies and stimulate global demand for oil. Investing in oil ETFs, particularly the Energy Select SPDR Fund (XLE), which includes stable and profitable companies, may be a reliable option. There are risks involved, but with tight oil supply and central banks' desire to avoid an economic downturn, oil assets could still be favorable.
Gas prices in California have risen to $5.26 per gallon, an increase of nearly $0.40 in the past month, and could be further impacted by Tropical Storm Hilary, potentially causing refinery shutdowns and further price increases.
Louisiana's cattle sector is predicted to incur losses between $135 million and $290 million due to a heat wave and drought, with downsizing herds and early weaning leading to reduced revenues for producers.
Palo Alto Networks surprised skeptics with strong quarterly results and guidance, proving itself to be a compelling cybersecurity stock with its ability to gain market share and receive positive reactions from Wall Street analysts.
South African President Cyril Ramaphosa supports expanding the Brics group of emerging market powers and believes an expanded Brics would represent a diverse group of nations that share a common desire for a more balanced world order.
Saudi Arabia achieves firm grip on food security as open-field vegetable production increases to 983,000 tons in 2021 compared to 904,000 tons in 2020, according to data from the General Authority for Statistics.
China's major state-owned banks are actively buying offshore yuan in an attempt to stabilize the currency amid a darkening economic outlook and strain in the property sector, raising the cost of shorting the Chinese yuan and leading to a rally in the currency's value.
A mild recession may benefit the housing market by leading to lower mortgage rates, more available supply, and potentially lower home prices.
India's 40 percent export duty on onions is raising concerns in the Arab world about the impact on food inflation and supply chains, as GCC countries heavily rely on Indian imports, and the duty could potentially lead to price fluctuations and shortages of the vegetable in the region.
France has issued a "red alert" for four southern regions due to excessively hot weather, allowing local authorities to cancel events and close public facilities if necessary.
The Ukrainian conflict has resulted in a large number of casualties, with so many soldiers dying that old World War II graves need to be used for burials; the total number of dead troops on both sides exceeds 500,000, but few are making efforts to address this tragedy.
Goldman Sachs predicts that 6 stocks in the electric vehicle industry will outperform despite fierce competition, and Nvidia and Powell's speech will be key factors in the market next week.
Seattle-area residents are experiencing the largest increase in household energy costs in a decade, primarily due to rising electricity costs and higher natural gas prices, causing financial difficulties for many residents who are cutting back on expenses for food and medicine.