Economy

Better than Bulgaria, but not as beautiful as Cuba: how did the US become such a terrible place to live? | Arwa Mahdawi

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WWhat do you call a country where nearly one in ten adults has medical debts and a broken leg can lead you to bankruptcy? A country where a city of more than 160,000 inhabitants recently had no safe drinking water for weeks? A country where life expectancy has fallen for the second year in a … Read more

RBC predicts a 14% fall in house prices in the spring of 2023

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The Royal Bank of Canada expects house prices to fall 14 percent below the recent nationwide peak as home buyers feel the pinch of higher interest rates. RBC revised its original forecast from 12 percent to 14 percent on Sept. 15, after the Bank of Canada raised its key overnight interest rate by three-quarters of … Read more

Oil prices rise more than 2% as Putin mobilizes more troops

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Pumpjacks are seen during sunset at the Daqing oil field in China’s Heilongjiang province, 22 August 2019. REUTERS/Stringer Register now for FREE unlimited access to Reuters.com Register SINGAPORE, Sept. 21 (Reuters) – Oil rose more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and … Read more

German government closes nationalization deal for energy giant Uniper

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Uniper has received billions in financial support from the German government as a result of rising gas and electricity prices after the Russian war in Ukraine. Image Alliance | Image Alliance | Getty Images The German government on Wednesday approved the nationalization of utility company Uniper as it aims to keep the industry afloat in … Read more

‘Dr Doom’ Nouriel Roubini expects ‘long, ugly’ recession and a plunge on Wall Street

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Roubini expects the recession in the US and the world to last through 2023, depending on how severe the supply shocks and financial problems will be. Households and banks were hit hardest during the 2008 crisis. This time, he said that companies and shadow banks, such as hedge funds, private equity and credit funds, will … Read more

Economists call for radical shake-up of the Bank’s interest rate commission | Monetary Policy Committee

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Members of the Bank of England’s interest rate setting body should be appointed by local governments and English MPs to counter groupthink, a former member of Threadneedle Street’s monetary policy committee has said. David Blanchflower said the committee was dominated by people with little knowledge of the ‘real world’ and that a greater diversity of … Read more

3 Ways Biden Is Worsening Inflation

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Experts hit Biden over inflation Fox News contributor Ben Domenech and FBN’s “The Claman Countdown” anchor Liz Claman discuss President Biden’s praise for the Inflation Reduction Act as the market continues to plummet. NEW ONESYou can now listen to Fox News articles! The recent railroad workers settlement reminds us that, far from fighting inflation, Joe … Read more

‘Ideology trumps economy’: EU body warns companies against souring in China | Business and Economy

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The European Union Chamber of Commerce says companies increasingly view China as “less predictable, reliable and efficient”. China’s “inflexible” COVID-19 restrictions and politicization of business are eroding its position as an investment destination, a top European industry group has warned. The European Union Chamber of Commerce said in a report Wednesday that companies are increasingly … Read more

Economic stimulus should have stopped sooner to tame inflation, says Bank of Canada

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OTTAWA – Bank of Canada Deputy Governor Paul Beaudry said in retrospect that governments and central banks should have withdrawn stimulus earlier as economies recovered from the COVID-19 pandemic, which likely would have kept inflation in check. In a speech at the University of Waterloo on Tuesday, Beaudry said a faster global withdrawal of fiscal … Read more