June 29, 2023
“…1. Researchers at the US central bank just published a paper warning that a historic surge in the percentage of distressed American companies could worsen the fallout from the Fed’s inflation battle. Plainly, they said high borrowing costs could cause a huge number of companies… Continue Reading…
June 29, 2023
“Showing surprising resilience in the face of higher interest rates, the U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years… Despite the uptick, the government’s third… Continue Reading…
June 27, 2023
“The world’s top central banks may need longer to get inflation back down to target and a fresh bout of financial turbulence could make the process even more protracted, the International Monetary Fund’s second-in-command said on Monday. Central banks have… Continue Reading…
June 27, 2023
“Side hustles have long been on the rise. More than half of Gen Zers, 53% have a side hustle, as well as half of millennials and 40% of Gen Xers, according to an April 2023 Bankrate survey of 2,505 U.S. adults. With… Continue Reading…
June 27, 2023
“Online money transfer firm Wise’s shares soared nearly 18% Tuesday as the company reported a spike in profits thanks to rising interest income. The company said in a statement to the stock market that its profit before tax tripled to £146.5 million… Continue Reading…
June 27, 2023
“Struggling electric-truck maker Lordstown Motors filed for Chapter 11 bankruptcy protection on Tuesday and said that it would put itself up for sale amid an ongoing dispute over investments that had been promised by Taiwanese manufacturer Foxconn. Shares were down over 60% in… Continue Reading…
June 26, 2023
“LONDON (Reuters) – The world’s central bank umbrella body, the Bank for International Settlements (BIS), called on Sunday for more interest rate hikes, warning the world economy was now at a crucial point as countries struggle to rein in inflation…… Continue Reading…
June 26, 2023
“Germany risks staying mired in recession this year after a closely-watched barometer of business activity slumped in June. The decline, led by a “substantial” decline in manufacturing, saw the closely-watched Ifo business climate index slump to 88.5 in June following May’s reading… Continue Reading…
June 26, 2023
“When it comes to how much they will need to comfortably retire, Americans have a “magic number” in mind — $1.27 million, according to new research from Northwestern Mutual. That’s up from $1.25 million last year, the financial services firm found, based on… Continue Reading…
June 26, 2023
“The Federal Reserve plans to keep hiking interest rates to stem inflation, which means an increase in corporate default rates is likely in coming months… There have been 41 defaults in the U.S. and one in Canada so far this year, the… Continue Reading…
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