“What we have to do is, basically, just calm down and think about what we are doing,” said Nakotice Smith cautiously concerned about the economy.
- Business Insider
"Dr. Doom" economist Nouriel Roubini says stocks could plunge another 50% as the US heads towards a severe financial crisis
"There is no real riddle to solve," the economist who predicted the 2008 crisis said. "Things will get much worse before they get better."
Switzerland is pretty pricey, but not the most pricey. These are the 10 most expensive cities to work abroad in 2022
Inflation has made remote employees worried about their purchasing power.
If there's a recession, don't count on the government to come to the rescue with stimulus checks and boosted unemployment benefits
The government unleashed stimulus in each of the last three recessions. With inflation at four-decade highs, such aid is unlikely in a 2023 downturn.
Some Americans are getting up to $1,000 cash as White House remains silent on new stimulus checks — here's every state sending relief
Several states have approved bills that will see money coming to residents while some have pending legislation to keep an eye on.
In one of his first legislative acts, newly-inaugurated Philippines President Ferdinand Marcos Jr has vetoed a bill sponsored by his lawmaker sister that would have created a special economic zone north of the capital, the presidential office said on Saturday. Marcos, 64, who took office on June 30 after winning the May election by a landslide, has inherited over $200 billion in government debt driven by his predecessor's pandemic response and the impact on the economy. "Fiscal prudence must be exercised particularly at times when resources are scarce and the needs are abundant," Marcos said in a letter on Friday addressed to Congress.
- The Telegraph
Troop cuts are “madness” and will put the Army at breaking point, its former head has warned.
After a booming recovery in 2021 as America emerged from the lockdowns of the pandemic, the economy in 2022 is at a crossroads. Massive stimulus packages passed by Congress in 2020 and 2021 helped...
- Business Insider
A bear market in stocks has historically signaled a peak in inflation - but that doesn't mean the pain is over for investors, says a Wall Street investment chief
"The negative wealth effect certainly exists, and it is a powerful thing," The Leuthold Group's Doug Ramsey said.
Senate Democrats are edging closer to a deal with Manchin to resurrect Biden's economic agenda. They'll face Sinema next.
Democrats crafted a new surtax on millionaires after Sinema stopped them from rolling back Trump tax cuts. Insider learned it's just been killed.
- Yahoo Finance
Inflation data released last week was mixed. It certainly wasn’t the “clear and convincing” evidence of cooling prices that the Federal Reserve has been looking for.
(Bloomberg) -- Ukraine plans to unveil a blueprint this week for rebuilding the country that could mobilize hundreds of billions of euros as the nation grapples with a Russian invasion that’s destroyed cities, shredded the economy and displaced millions.Most Read from BloombergBezos Slams Biden Over Call for Lowering of Gas PricesLong, Moderate and Painful: What Next US Recession May Look LikeUS Court Ruling May Take 70,000 Truckers Off Road, Spur JamsJPMorgan Sees ‘Stratospheric’ $380 Oil on Wo
Shop prices may not hit their peak until next year, says the Food and Drink Federation.
(Bloomberg) -- Investors reeling from the brutal emerging markets selloff over the past six months again fled the rupee as India’s currency hit new lows, prompting the government to curb gold imports and oil exports to arrest a widening deficit. Most Read from BloombergBezos Slams Biden Over Call for Lowering of Gas PricesLong, Moderate and Painful: What Next US Recession May Look LikeUS Court Ruling May Take 70,000 Truckers Off Road, Spur JamsJPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case
America stayed afloat during the pandemic thanks to a $5 trillion avalanche of money transferred from the government back to the people during 2020-21. The biggest share, according to The New York...
- Miami Herald
Two recent headlines did their job on me. They raised my economic anxiety level, which already is on edge.
- Associated Press
South Africans are struggling in the dark to cope with increased power cuts that have hit households and businesses across the country. The rolling power cuts have been experienced for years but this week the country’s state-owned power utility Eskom extended them so that some residents and businesses have gone without power for more than 9 hours a day. The prolonged power cuts are hitting South Africans in the winter months of the Southern Hemisphere when many households rely on electricity for heat, light and cooking.
- The Desert Sun
Thanks to a $97 billion budget surplus, the largest in state history, Golden State lawmakers voted last week to send about $9.5 billion back to Californians.
- Yahoo Finance
June’s all-important jobs report and minutes from the Federal Reserve’s last policy-setting meeting are expected to highlight a holiday-shortened trading week ahead.
MELBOURNE (Reuters) -Australia's mining and energy export revenues are forecast to climb 3% to a record A$419 billion ($286 billion) in the year to June 2023, buoyed by surging coal and gas prices in the wake of Russia's invasion of Ukraine, the government said on Monday. Sanctions on Russia for what Moscow calls a "special military operation" to disarm Ukraine have sent prices for liquefied natural gas (LNG) and coal to all-time highs, underpinning record revenue for Australia's second- and third-largest exports. "The outlook is for the prices of energy commodities to remain strong for longer than previously forecast, as Western nations look for alternatives to Russian energy supplies," the Department of Industry said in its resources and energy quarterly report.
British companies have turned increasingly glum about the outlook, with inflation surging and investment plans looking stagnant, according to the latest business survey that shows momentum rapidly draining from the economy. The British Chambers of Commerce (BCC) said 54% of more than 5,700 companies it surveyed between May 16 and June 9 expected turnover to increase over the next 12 months. A survey published by S&P Global on Friday showed reports of rising costs were more widespread among British manufacturers than anywhere else in Europe.