Tag Archives: Economy

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Chinese stocks listed in the U.S. were mostly higher on Tuesday amid optimism around Beijing’s decision to drop COVID-19 quarantine rules for inbound visitors, as the world’s second-largest economy abandons its long-held “COVID Zero” policy. But the slide in shares of EV makers like Tesla (TSLA) and a drop in Apple (AAPL) stock shows the all-clear hasn’t yet been given on negative impacts from the Chinese economy. And this divided reaction on Chinese stocks shows investors both holding out… Source link

The Russian economy is approaching the end of 2022 in a far better state than many had anticipated in the spring following the invasion of Ukraine and ensuing Western sanctions. The fall in GDP has only amounted to about 3% or even less, and the U.S. dollar is still trading at less than 65 rubles. Even the Western ban on high-tech imports, although challenging, has proved manageable. But none of this means that Russia’s economy is out of the woods: many risks still remain. We asked… Source link

Forget the threat of a global recession in 2023, the team at Goldman Sachs is already thinking about global economic growth potential through the year 2075. “It is almost twenty years since we first set out long-term growth projections for the BRICs [Brazil, Russia, India, China, South Africa] economies and a little over ten years since we updated and expanded those projections to cover 70 emerging (EM) and developed (DM) economies,” Goldman’s macroeconomic team explained in a lengthy 45-page… Source link

While it may be unlikely in a politically divided Washington, Labor Secretary Marty Walsh says that immigration reform is what should be top of mind for lawmakers after Friday’s November jobs report showed stronger-than-expected results but a lingering skills gap. Friday’s report reported growth in both overall job levels as well as average hourly earnings with an unemployment rate that remained at a low 3.7% — in spite of months of interest rate increases from the Federal Reserve that… Source link

The global economic outlook for 2023 is murky at best, economists at Citi warn. “As we survey the prospects for the global economy, we see many reasons for concern, including continued challenges from the pandemic and the Russia-Ukraine war, high inflation, and headwinds from central bank rate hikes,” Citi chief economist Nathan Sheets wrote in a client note Wednesday. “Reflecting these factors, the global economy is likely to endure ‘rolling’ country-level recessions during the coming… Source link

Tech Tech industry fears legal rulings could weaken the liability shield that allowed internet platforms to flourish Source link

“When Google stumbles, it’s a bad omen for digital advertising at large,” said Evelyn Mitchell, principal analyst at Insider Intelligence, noting that Google’s core website has in the past been more resilient to ad spending downturns than social media sites like Facebook or Snap. Source link

I went out for pizza the other night, but had to eat it in my car. That’s because the Frank Pepe’s in Manchester, Connecticut had this sign on its door. “Attention: Dining Room closed after 4 p.m. today due to staffing shortages.” So I ate in my SUV, no problem, (the pizza was fantastic), but it made me think 1) this can’t be good for Frank Pepe’s, and 2) the note on the door is literally a sign of the times. A sign we’re living in a world where supply shortages — employees, oil,… Source link

The International Monetary Fund (IMF) downgraded its outlook for the global economy next year based on the effects of the war in Ukraine, global inflation that requires interest rate hikes and a slowdown in China. “In short, the worst is yet to come, and for many people 2023 will feel like a recession,” IMF Chief Economist Pierre-Olivier Gourinchas stated. The IMF, which is the primary financial institution of the United Nations, now forecasts global growth will slow next year by 2.7% —… Source link