Breaking News: Economy
UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession
U.S. Federal Reserve Chairman Jerome Powell takes questions from reporters during a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. Evelyn Hockstein | Reuters UBS expects the U.S. Federal Reserve to cut interest rates by as much as […]
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British fintech Wise reports 280% jump in profit as higher interest rates boost income
The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images British fintech firm Wise nearly quadrupled pre-tax profits in its half-year results out on Tuesday, citing a boost from higher interest rates. Wise reported revenue of £498.2 million, up 25% year-on-year, in the half-year ended on Sept. […]
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Entire world economy to complete far better than expected in 2024, claims Goldman Sachs
New York town skyline Alexander Spatari | Moment | Getty Visuals Goldman Sachs predicts the world wide financial system will prime anticipations in 2024, pushed by sturdy earnings progress and self-assurance that the worst of amount hikes is previously about. The expenditure lender forecasts the entire world financial system to expand 2.6% next calendar year […]
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Hyundai joins Honda and Toyota in elevating wages following automobile union wins gains in offers with Detroit 3
Drew Angerer | Getty Images News | Getty Illustrations or photos South Korean automaker Hyundai has joined Honda and Toyota in raising factory employee wages after the United Auto Workers union reached new agreement agreements with Detroit automakers. Hyundai claimed Monday it will elevate manufacturing facility employee spend 25% by 2028, matching the normal wage increase received by the […]
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The world’s greatest and brightest are flocking to these international locations
Commercial and household homes stand on the metropolis skyline in Zurich, Switzerland, on Wednesday, Nov. 11, 2015. Bloomberg | Bloomberg | Getty Illustrations or photos Switzerland is as soon as again the world’s most expertise-aggressive state, according to the 2023 International Talent Competitiveness Index by company university INSEAD. The European nation has held its crown […]
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$29 flights are back as airlines race to fill seats in the off-season
A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana. Luke Sharrett | Bloomberg | Getty Images FORT WORTH, Texas — Airlines have a record 260 million seats to fill this quarter, and to do it, they’re offering fares that will run you about the same as a […]
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Moody’s cuts U.S. outlook to negative, citing deficits and political polarization
The White House is seen at dusk on September 30, 2023 in Washington, DC. Samuel Corum | Getty Images Moody’s Investors Service on Friday lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength. The ratings agency has affirmed the long-term issuer and […]
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Goldman Sachs sees ‘clear deficit’ of iron ore for the rest of the year
A worker pouring molten iron into a mildew at a mill producing marine motor parts in Huaian, Jiangsu province, China. Reuters The iron ore market place is hunting at a shortfall for the rest of the 12 months thanks to reduced inventories and slipping creation, claimed Goldman Sachs. “Fairly than dealing with a surplus for […]
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Powell says Fed is ‘not confident’ it has done enough to bring inflation down
US Federal Reserve Chairman Jerome Powell holds a press conference in Washington, DC, on September 20, 2023. Mandel Ngan | Afp | Getty Images Federal Reserve Chairman Jerome Powell said Thursday that he and his fellow policymakers are encouraged by the slowing pace of inflation but are unsure whether they’ve done enough to keep the […]
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Commerzbank Q3 net revenue more than triples, beats anticipations
A “delicate economic downturn” is on the playing cards, in accordance to Commerzbank CEO Manfred Knof. Picture Alliance | Image Alliance | Getty Illustrations or photos Germany’s Commerzbank explained on Wednesday that internet profit much more than tripled in the third quarter, greater than predicted and aided by bigger desire premiums, as it offered a […]
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