Economy Financial News

26.07 / 07:43

markets economy President Amundi CIO Mortier: Markets have yet to price in the risk of a Trump-fuelled inflation rebound

A re-election of Trump as president of the US in November is likely to lead to higher inflation in the world's largest economy, the CIO of Europe's asset management giant said, a scenario markets are currently not pricing in. Mortier noted an «animal spirit» currently prevails in markets, fuelled by the expectation that the potential return of a Trump administration would benefit equities through lower taxes and reduced regulation. However, Trump's proposed economic plan for a second term involves a repeat of raising tariffs on imports, cutting taxes, and deporting millions of undocu...

26.07 / 05:51

UPS Citi security economy WhatsApp country Indonesia launches Golden Visa to lure foreign investors

Indonesia has launched a long-term visa scheme designed to attract foreign investors. The initiative offers visas of up to 10 years to investors, aiming to draw significant investments into Southeast Asia's largest economy.

26.07 / 03:17

markets Target economy Sustainability country reports International India mustn’t lose time on a climate finance taxonomy

India’s climate ambitions are as vast as its challenges. The threats of rising sea levels, erratic monsoons and extreme heatwaves loom large. Trillions in investment are needed to mitigate these and transition to a low-carbon economy.

26.07 / 03:03

markets Citi Target Strategy economy Olympics shock Fiscal policy: Don’t let rings be run around the budget deficit

It’s the season of clear targets, quick wins and instant applause, as the Olympics of 2024 kick off in Paris, a city aflutter with flags bearing their famous ‘rings of unity.’ Among other virtues, the Olympic Games offer us a contrast with economic frames, which have complex targets, slow wins and patchy applause. So much so that our heads can begin to spin if rings get run around what’s good for the economy, as if the data overload of every budget is not heavy enough.

26.07 / 01:27

markets Platform economy wellness country social reports Luxury watchmakers pivot to India amid slump in Chinese market

Raynald Aeschlimann, president and chief executive officer of watch company Omega, owned by the Swatch Group AG, spoke exclusively to Mint virtually about India as a market and the promise it holds. For the entire group, South Korea, India and the United Arab Emirates also considerably outperformed the previous year. The shift away from China—the largest consumer of luxury in the world—has impacted Swatch, Omega's parent, which reported lower half-yearly sales from a year ago.

25.07 / 19:45

Target economy Parke WhatsApp FY25 gold bond float target cut by 38%

gold bond issuance target for this financial year by 38% from the record interim budget goal, a senior official said, indicating waning investor interest amid better alternatives.

25.07 / 19:19

economy Election President country Schools Courts Venezuela Elections 2024: Who is María Corina Machado? Driving force behind main opposition candidate, Edmundo Gonzalez

Maria Corina Machado is not the opposition candidate against President Nicolas Maduro as the oil-rich Latin American country Venezuela is going to polls, but the incumbent president targets her in almost every election rally he addresses. The 56-year-old lady would not be the president if the opposition won the poll, but she has emerged as the biggest hope for the opposition. A little-known former diplomat Edmundo Gonzalez has been pitched against the powerful socialist leader. Within a few months, Machado has succeeded in building a powerful social movement that has attracted thousands of people from among the masses.

25.07 / 18:33

markets Citi Target Analysis economy Universities country Amid tensions with China, some US states are purging Chinese companies from their investments

Some U.S. states are scrapping investments in Chinese companies amid tensions between countries with the world's largest economies

25.07 / 18:23

markets Manufacturing economy 2020 reports Department jobless claims Fewer Americans file for jobless claims as applications remain at elevated, but not troubling levels

Fewer Americans filed for unemployment benefits last week, but applications remained at recently elevated, though not troubling levels

25.07 / 18:16

UPS economy country reports China cuts 1-year benchmark rate and doubles subsidies for EVs in its 'cash for clunkers' program

China has ratcheted up its efforts to spur slowing growth by cutting a key policy rate and doubling subsidies for electric vehicles bought to replace older cars

25.07 / 18:14

markets UPS DOW Airlines economy reports Global shares tumble after a wipeout on Wall Street as Big Tech retreats

U.S. stocks are rising, a day after their worst losses since 2022 led to a wipeout for financial markets around the world

25.07 / 18:05

markets COST Citi MET economy Could render home not-so-sweet home

cost indexation in property transactions, although simpler to administer and resulting in lower capital gains tax, may adversely impact slower markets, typically smaller towns and less desirable districts of large cities. The new tax dispensation favours property investments that yield positive inflation-adjusted returns. Where this condition is not met — housing prices not having grown much faster than prices overall — the homeowner faces an extra tax hurdle in disposing of his property. This could cause greater illiquidity in select micro markets and affect urban growth. The same forces would be at play during a property downcycle, when homeowners may put off decisions to sell, contributing in the process to factors that led to the slump.

25.07 / 17:56

COST UPS Target economy trends reports US economic growth increased last quarter to a healthy 2.8% annual rate

The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates

25.07 / 17:46

Waters Assurant economy Food country inclusion innovations Budget 2024: Strong emphasis on agriculture & climate resilience signals transformative development

India's existence and across a series of budgets, one factor has remained constant: the economy's high dependence on the farm sector, thanks to its contribution to economic growth and consumption expenditure. So, it's good to see this budget putting the impetus on agriculture and its focus on more effective, efficient and climate-resilient public spending.

25.07 / 17:02

Digital Platform security economy social Videos Interviews LinkedIn founder feels that 9-to-5 jobs will become a relic of the past by 2034!

Reid Hoffman. An old interview with the entrepreneur is going viral on social media. In the clip, Hoffman says he believes that 9-5 jobs will become a relic of the past by 2034!

25.07 / 15:21

markets UPS Manufacturing economy Department US economy grew faster than expected during the second quarter

New Century Advisors chief economist Claudia Sahm and Piper Sandler chief investment strategist Michael Kantrowitz discuss whether the economy is on the cusp of recession on 'Making Money.'

25.07 / 09:57

UPS Provident Digital economy information Department After India Stack, why Sitharaman proposed another stack for economic boost

Agriculture sector provides livelihood support to about 42.3% of the population of India and has a share of 18.2 per cent in the country’s GDP at current prices. As a sector, it has been buoyant, which is made evident by the average annual growth rate of 4.18% at constant prices over the last five years. It, however, can't be denied that there are a host of difficult, entrenched issues, which have kept the sector from reaching the next level, where it can be among the economy's saviours.

25.07 / 08:22

Target Digital CEO economy Sustainability Research innovations Budget 2024: Industry leaders weigh in on India's path to growth and innovation

Nirmala Sitharaman, marks a significant step towards realising the vision of a ‘Viksit Bharat’. The Union Budget focuses on fiscal consolidation with a target of a 4.9% fiscal deficit of GDP. Key allocations include substantial funding for infrastructure, rural development, employment, and skilling initiatives. Significant policy changes include the abolition of the Angel Tax for startups, and promoting investment and innovation. The budget emphasises technology, with increased funding for research and development, also prioritising digital infrastructure, and women's development with a strong support to MSMEs and entrepreneurship.

25.07 / 00:05

UPS Target economy Cycling reports Headlines rowing Bank of Canada cuts interest rate again and signals more to come

The Bank of Canada on Wednesday cut its interest rate by 25 basis points for a second time in a row, citing a pullback in household spending on both consumer goods and housing as a reason to bring the rate down to 4.5 per cent even as price pressures in shelter and services continue to keep inflation elevated.

24.07 / 23:40

markets UPS Strategy economy CIBC Cycling September 'very much on the table': What economists say about Bank of Canada rate cuts

Stephen Brown, deputy chief North America economist with Capital Economics, said the Bank of Canada’s comments suggested it would keep cutting rates if inflation continues to ease.

24.07 / 20:04

markets economy Remark Research track Job seekers are sour on the cooling labor market

Workers are souring on the state of the job market.

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