A job fair in China’s southwestern city of Chongqing on April 11, 2023. Str | Afp | Getty Images China’s youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, driven by an economic slowdown and restrictive hiring policies, according to analysts. The jobless rate for … Read more
LONDON — The British pound has jumped to its highest level in two-and-a-half years following a hawkish rate hold from the Bank of England, but strategists warn the upcoming U.K. budget could pose a risk to investor and consumer sentiment. Many investors are awaiting the new Labour government’s fiscal plan at the end of October … Read more
Indian flag and Chinese flag displayed on screen. Anadolu | Anadolu | Getty Images India’s commerce minister rejected the idea of joining the Regional Comprehensive Economic Partnership, the world’s largest trade deal, maintaining that it is not in the country’s interest to be part of a free trade agreement with China. “India is not going … Read more
Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley’s artificial intelligence darlings. Oil-rich nations like Saudi Arabia, United Arab Emirates, Kuwait and Qatar have been looking to diversify their economies, and are turning to tech investments as a hedge. In the past year, funding for AI companies by … Read more
Men have been steadily dropping out of the workforce, especially men ages 25 to 54, who are considered to be in their prime working years. According to the U.S. Bureau of Labor Statistics, the unemployment rate for prime-age working men was 3.4% in August 2024. This number primarily includes those who are unemployed and looking … Read more
Boeing factory workers gather on a picket line during the first day of a strike near the entrance of a production facility in Renton, Washington, U.S., September 13, 2024. Matt Mills Mcknight | Reuters RENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. A … Read more
Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week’s meeting because inflation is falling even faster than he had expected. Citing recent data on consumer and producer prices, Waller told CNBC that the data is showing core inflation, excluding food and energy, in the Fed’s preferred … Read more
The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago. The decision was widely expected amid ongoing concerns about inflation within the bank’s monetary policy committee, particularly the elevated … Read more
U.S. Treasury yields climbed higher Thursday as investors digested the Federal Reserve’s decision to cut interest rates by 50 basis points on Wednesday. At 3:56 p.m. ET, the yield on the 10-year Treasury was up nearly 4 basis points at 3.726%. The 2-year Treasury yield was around one basis point lower at 3.594%. Yields and … Read more
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the … Read more
