U.S. Economy
U.S. election won’t be an ‘uneventful event’ for global markets, UBS chief says
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images The outcome of upcoming elections in the world’s leading economy is set to ripple into global markets no matter who clinches leadership of the White House, UBS head Sergio Ermotti told CNBC on Wednesday. “The outlook for the fourth quarter […]
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Morgan Stanley CEO says the era of zero interest rates and inflation ‘is over’
Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023. Jeenah Moon | Bloomberg | Getty Images RIYADH — The days of easy money and zero interest rates are firmly in the past, Morgan Stanley CEO Ted Pick said Tuesday, speaking at a panel […]
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Larry Fink says the Fed won’t cut interest rates as much as markets expect this year
Andrew Ross Sorkin speaks with BlackRock CEO Larry Fink during the New York Times DealBook Summit in the Appel Room at the Jazz at Lincoln Center in New York City on Nov. 30, 2022. Michael M. Santiago | Getty Images The U.S. Federal Reserve won’t cut interest rates as much as markets expect because “embedded […]
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Trump headlines Madison Square Garden rally after vulgar, racist remarks from allies
Republican presidential nominee and former U.S. President Donald Trump speaks during a rally at Madison Square Garden, in New York, U.S., October 27, 2024. Andrew Kelly | Reuters Republican presidential candidate Donald Trump headlined a rally at New York’s Madison Square Garden on Sunday that began with a series of vulgar and racist remarks by allies of the former president. Trump, a New York celebrity for decades, hoped to use the […]
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German finance minister warns of retaliation if U.S. kicks off trade war
Christian Lindner, Germany’s finance minister, during a meeting Janet Yellen, US treasury secretary, not pictured, at the annual meetings of the IMF and World Bank in Washington, DC, US, on Thursday, Oct. 24, 2024. Ting Shen | Bloomberg | Getty Images German Finance Minister Christian Lindner on Friday warned that if the U.S. kicked off […]
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‘Made in Mexico’ trade controversy is provoking another kind of border war
Mexico’s robust, and booming, trade with the United States has logistics companies clamoring for a slice of the pie and politicians taking a cautious look at how overseas firms may be using recent North American trade law to circumvent U.S. tariffs. Integrated logistics companies like Maersk are building out their capacity to handle the historic […]
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‘Higher prices, larger deficits’: 23 Nobel Prize-winning economists slam Trump agenda, endorse Harris
Former President Donald Trump (L), and Vice President Kamal Harris Reuters Twenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over former President Donald Trump in a joint letter released Wednesday. The nearly two dozen economists said Trump’s economic agenda, which includes hardline tariff proposals and a slate of aggressive tax cuts, would “lead to […]
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IMF warns on China’s property market worsening as it cuts country’s growth outlook
Chinese flags for sale on Nanjing East Road in Shanghai, China, on Wednesday, Oct. 2, 2024. Qilai Shen | Bloomberg | Getty Images The International Monetary Fund (IMF) warned of a possible worsening of the state of China’s property market as it trimmed its growth expectations for the world’s second-largest economy. In a report published […]
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Trump doubles down on tariff plan that voters hate
Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. Brian Snyder | Reuters A majority of voters are less likely to support a candidate who promotes universal tariffs, according to NBC News polling released Sunday, marring a cornerstone economic proposal of […]
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Elon Musk is on track to become a trillionaire by 2027. Here’s why the rich keep getting richer
Elon Musk is on track to become the world’s first trillionaire by 2027, according to a recent report from Informa Connect Academy. Of the world’s billionaires, Musk is the closest to that 13-figure mark, and his wealth is growing. At the start of 2020, Musk was worth about $28.5 billion, according to the Bloomberg Billionaires […]
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