The cost of owning a car in Canada is rising, with the average selling price of a new car increasing by 19.4% in one year, resulting in an average monthly cost of car ownership of $1,387.
The article highlights the positive state of the American economy under President Biden and encourages Trump supporters to disconnect from it in order to support Trump's reelection campaign.
The US labor market and housing sector are experiencing post-pandemic shifts, with hybrid and work-from-home setups expected to have more staying power, according to Moody's Analytics Chief Economist Mark Zandi. Additionally, Zandi predicts that home prices will plateau as people's housing needs change.
The Federal Reserve has held its key interest rate steady and indicated that a rate cut in March is unlikely, but possible, as it wants to ensure sustained low inflation before taking action.
The Federal Reserve's decision to leave interest rates unchanged is good news for borrowers facing high borrowing costs, including mortgage rates, and provides a period of stability for potential homebuyers. However, it is still advisable to lock in mortgage rates now, as future rate hikes could impact borrowing costs. It is recommended to research and compare lenders, improve credit scores, save for a larger down payment, consider mortgage points, and shop around for quotes to secure the best mortgage rate possible.
Germany is set to introduce a 4-day workweek as an experiment in an effort to increase worker productivity and alleviate the country's skilled labor shortage, with advocates arguing that employees who work four days instead of five are more motivated and productive.
The Federal Reserve has kept its key interest rate at a 23-year high, prompting investors to look for low-risk options to maximize yields on their cash, such as high-yield savings accounts, money market accounts and funds, certificates of deposit, and short-term Treasury bills.
Canadians can expect to pay higher prices for groceries as the annual industry-wide price freeze comes to an end, resulting in price increases due to inflation, supply chain issues, and other factors.
House prices in the UK declined at their slowest rate in a year, signaling potential interest rate cuts by the Bank of England; meanwhile, Asian stocks mostly fell as markets awaited the Federal Reserve's decision on interest rates and China reported a fourth consecutive month of manufacturing contraction.
European stocks dropped as traders adjusted their rate expectations for the Federal Reserve and analyzed corporate earnings, leading to a decline in Asian and European markets.
The Federal Reserve's potential interest rate cuts could provide an election-year advantage for President Biden and improve housing affordability, benefiting young voters.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has been summoned by the Senate Committee on Banking to answer questions about the state of the economy and the declining value of the naira.
Dozens of companies in Germany are experimenting with a 4-day workweek in an effort to increase worker productivity and alleviate the country's skilled labor shortage, with early results showing decreased stress levels and sick days, as well as revenue increases in participating companies. However, some experts are skeptical about the feasibility and potential negative effects of a shorter workweek, particularly in industries that require fixed hours and immediate service provision.
The Federal Reserve's decisions on interest rates could have significant implications for Americans' monthly budgets, with higher rates benefiting savers but reducing bills for borrowers, such as credit card and student loan debt.
Oil and gas prices continue to experience volatility due to the supply-demand imbalance caused by the COVID-19 pandemic, leading to the biggest sustained shift in demand since World War II and resulting in significant price changes in the market, according to economist Kenneth Rogoff.
Labour's proposed investment of £28bn a year in the low-carbon economy is essential to rebuild the UK economy, avoid declining infrastructure and industry, and attract business back to the country, according to Jürgen Maier, former UK head of Siemens. Maier urges Labour to stand firm on its commitment and not waver in the face of criticism from doubters within the party. He argues that this investment is necessary for the future of industrial jobs and communities, and that the UK government must intervene in the market to attract the levels of investment needed. Without strong investment in green infrastructure, the UK will fall behind international rivals, lose out on jobs, and experience further economic decay. Experts also argue that public investment in a low-carbon economy would generate additional private sector investment, reduce energy bills, create jobs, and stimulate the economy.
The economy is heading towards a recession that could trigger a stock-market meltdown worse than in 2022, according to economist David Rosenberg, who cites factors such as labor hoarding, debt-fueled spending, and inflated valuations as indicators of an inevitable downturn.
The Canadian economy showed signs of improvement in late 2023, with real GDP growing 0.2 percent in November and a preliminary estimate indicating a 0.3 percent gain in December, suggesting a rebound from a contraction in the previous quarter. The growth was attributed to the end of labor disputes and spillover effects from a strong US economy.
The Federal Reserve is expected to maintain current interest rates due to improving consumer confidence and declining inflation, while some economists believe that higher rates have helped reduce inflation.
Border controls on certain food imports from the European Union have been implemented in the UK for the first time since Brexit, causing increased paperwork for businesses and potentially leading to higher prices for consumers. The checks, which include physical inspections starting in April, are estimated to cost British businesses £330 million annually and could increase food inflation by 0.2 percentage points over three years. Industry experts warn of potential disruptions to supplies and price hikes for staple foods as a result of the new controls.
Senate Majority Leader Chuck Schumer accused former President Donald Trump of trying to take credit for the record-high closings of the Dow Jones and S&P 500, touting the positive economic impacts of President Joe Biden and the Democrats.
The growth of pay and benefits for American workers slowed to its lowest pace in two and a half years during the final quarter of 2022, potentially influencing the Federal Reserve's decision on interest rate cuts.
The US and China's economies are diverging, with the US experiencing strong growth while China faces mounting debt, deflation, and a troubled real estate market, leading to a flight of foreign investment. The contrasting consumer bases and policy initiatives contribute to this economic divergence, and falling Chinese equities reflect the exodus of foreign investors.
The cost of employing workers in the US rose by 0.9% in the fourth quarter of 2022, indicating a slowdown in wage growth after the pandemic. Despite the decrease, compensation still outpaces the rate desired by the Federal Reserve.
Billionaire Ken Griffin warns that a conflict around Taiwan could lead to a new Great Depression, as the island is a major supplier of semiconductor chips, crucial for various industries, including Tesla, GM, Ford, and Boeing.
Private hiring in the US unexpectedly slowed in January, indicating that the labor market may be easing in response to higher interest rates.
Germany is set to pilot a four-day workweek starting in February, with hundreds of employees across 45 companies participating in the program, which aims to improve productivity and well-being, although some economists argue that it won't address the country's labor market challenges and call for better incentives for longer working hours.
American businesses created 107,000 new jobs in January, a slower pace than expected, with the majority of new jobs in leisure and hospitality, construction, and transportation, and wage growth showing a downward trend.
Private sector employment in the United States increased by 107,000 jobs in January, falling short of expectations, indicating a cooling economy, but with continued job growth and a rise in annual pay.
Despite record-breaking numbers on Wall Street, a recent poll revealed that 64% of Americans are living paycheck to paycheck and have little saved for emergencies, suggesting that "Bidenomics" is not working effectively for Main Street.
China's debt, aging population, and property crisis have led a leading investment bank to suggest that it may never surpass the US as the world's largest economy, with the size of the Chinese economy shrinking in comparison to the US and many factors that fueled its rise fading away. The bank now predicts that China's economy will overtake the US in the early 2040s or even as late as 2080, and analysts have also cited Beijing's zero-Covid policies and economic aggression as hindrances to its growth.
President Joe Biden's economic policies, referred to as Bidenomics, are showing positive effects in six battleground states, with low unemployment, below-average gas prices, and economic growth indicating that his strategies might be working to his advantage, despite facing inflation and skepticism in voter polls.
The Federal Reserve is expected to hold interest rates steady but may give clues about possible rate cuts in the future; the GOP-led House Committee on Homeland Security has approved articles of impeachment for Homeland Security Secretary Alejandro Mayorkas; Qatar is serving as an intermediary between Israel and Hamas in hopes of reaching a cease-fire agreement; the Groundlings comedy troupe is celebrating their 50th anniversary; using a smart goal strategy can help individuals stick to their New Year's resolutions.
Labour has no plans to reinstate a cap on bankers' bonuses, as the shadow chancellor, Rachel Reeves, intends to support a thriving financial services industry if the party wins the next election.
Renowned author and financial expert Nassim Nicholas Taleb has expressed concerns over America's national debt problem, stating that it would take a miracle to save the country from a potential debt crisis in the future. He also warned about the over-valuation of companies in the stock market, emphasizing the lack of understanding in valuing them accurately.
Pakistan's ex-premier Imran Khan is the most favored leader among finance professionals to manage the country's economy, according to a Bloomberg survey, followed by Nawaz Sharif and Bilawal Bhutto Zardari.
Despite recent layoff announcements from companies like the Los Angeles Times, eBay, and UPS, the overall layoffs and discharges rate in the US remains consistently low, indicating that these announcements are not representative of the broader labor market.
The Federal Reserve is expected to keep interest rates unchanged, delaying rate cuts until later in the year, as fresh data shows the US economy performing better than expected despite cooling growth, easing pressure on the central bank to swiftly make rate cuts to boost economic activity and relieve borrowing costs.
Technology stocks are slumping as high expectations and concerns about earnings from advertising affect Wall Street's most influential stocks, leading to drops in the S&P 500 and Nasdaq composite.
Four years after Brexit, the UK financial services sector has not been as significantly impacted as predicted, with some companies even planning to return, but international trade relationships have not compensated for the loss, according to a report by Anglo Scottish Finance.
China's manufacturing activity in January showed a slight improvement, but analysts say it is still a weak start for the economy, with subdued demand and weak consumption weighing on growth, despite Beijing's efforts to regain momentum.
Russian banks made a record high profit of 3.3 trillion rubles ($36.8 billion) last year, a significant increase from the previous year, due to demand for mortgages and loans for business acquisitions.
US home prices in November experienced their largest annual gain in nearly a year, with the S&P Dow Jones Indices' CoreLogic Case-Shiller national home price index rising 5.1% over the previous 12 months, signaling a strong market despite a slump caused by high mortgage rates and low housing supply.
Egyptian billionaire Naguib Sawiris has criticized the delay in implementing a devaluation of the pound, suggesting that the official exchange rate should align with the black market rate to address the foreign currency shortage in the country.
Inflation in Australia has fallen to its lowest level in two years, dropping to a lower-than-expected 4.1%, effectively ending the chance of further interest rate rises.
The Philippines overtook Vietnam and Malaysia as Southeast Asia's fastest-growing economy, with strong expansion driven by consumption, services, and investment.
China's government is cracking down on critics of the economy, censoring negative commentary, intimidating economists, and removing articles about financial struggles and poor living standards, as the country grapples with a slumping stock market and collapsing real estate sector.
China's city of Shenzhen plans to double down on its hi-tech industry and achieve industrial output of over $209 billion in strategic emerging industries by 2024, in an effort to counteract US-led tech restrictions and move up the industrial chain.
The Federal Reserve is expected to hold interest rates steady at its first rate meeting of 2024, with economists predicting that the first rate cut will occur in March instead, according to financial data provider FactSet.
The Federal Reserve is likely to cut its key interest rate in the coming months but may not provide a specific timeline or rate adjustment details, while the head of a major Canadian supermarket chain pushes back against government criticisms of food inflation transparency and competitiveness.