Economy Financial News

At this year’s China Development Forum (the highest-level annual meeting between senior Chinese policymakers and top CEOs, current and former policymakers, and academics like me), the discussion focused squarely on the risk of China falling into the dreaded ‘middle-income trap.’ After all, few emerging economies have successfully joined the ranks of high-income countries. Will China be an exception to this pattern? Following 30-plus years in which China achieved annual growth rates close to 10%, its economy has slowed sharply this decade. Even last year, with a strong rebound from the “zero-covid" era, officially measured growth was only 5.2%.

RBI has flagged risks in monetary policy on account of climate change in its study, 'Draft Disclosure Framework on Climate-Related Financial Risks 2024', in February. In this, the central bank is leading from the front after floating a discussion paper on mitigating climate risk by banks.

Bloomberg report, the Indian stock market is blooming thanks to the foreign funding and Centre's new trade deals. The youthful market of 143 crore Indians is attracting international manufacturing bigwigs, who once clustered around southern China. Aircraft makers such as the Boeing Inc are taking record orders from Indian arlines such as Air India and IndiGo, while the tech gaint Apple Inc is scaling up production of India-made iPhones.

Former Federal Reserve Bank of St. Louis President James Bullard said he’s expecting three interest-rate cuts this year as inflation moves toward the central bank’s target while the economy remains resilient.

Congress on Tuesday claimed stagnant wages and high inflation have forced households to take loans just to get by and are slowly sinking into debt. Congress general secretary Jairam Ramesh also stressed that the Congress' 'Nyay Patra' is a direct response to the «failures» of the government and said «dus saal anyay kaal» ends on June 4. «All the alarm bells are ringing in the Indian economy, only Mr. Modi does not seem to hear them. Under his leadership, India has witnessed record levels of unemployment, high inflation, declining real wages, widespread rural distress, and dramatic increases in inequality,» Ramesh said in a statement. He said the latest report from a leading financial services company shows the devastating impact that Modi's policies have had on Indian households.

Former Kansas City Federal Reserve Bank President Thomas Hoenig reacts to Jerome Powell saying the Fed is not ready to start cutting rates on 'Cavuto: Coast to Coast.'

Stratos Private Wealth on Tuesday announced its plans to go bicoastal by expanding into southern New Jersey and Westchester, New York.

BSE Sensex achieved a record-breaking level of 75,124, and the Bank Nifty ascended to a new peak of 48,940. Meanwhile, analysts also noted that today's rally is broad-based, with the small-cap index nearing its all-time high and the mid-cap index reaching a new pinnacle at the 41,172 mark.

Fox Business White House correspondent Edward Lawrence has the latest on the unanimous decision to hold rates steady at 5.25 on 'Making Money.'

Adani Green Energy Ltd. is in talks to raise about $400 million through an offshore loan as the unit of billionaire Gautam Adani seeks funds for an upcoming renewable project, according to people familiar with the matter. The foreign currency loan could range from seven to ten years, with the pricing likely linked to the Secured Overnight Financing Rate, said the people, who asked not to be named because the discussions are confidential. The unit of India’s ports-to-power conglomerate is in talks with a group of banks including Mitsubishi UFJ Financial Group Inc., First Abu Dhabi Bank PJSC, Standard Chartered Bank and Sumitomo Mitsui Financial Group Inc., said the people.

Ever since she ate mushrooms that can have psychedelic effects in Beijing last July, Janet Yellen has united Americans and Chinese in wanting to know what she will eat next

As the date approaches for Americans to pay their tax returns, a new survey offers a fresh look at the kind of pressure advisors’ clients may be feeling right now – and how some of them might be kicking the tax-filing can down the road.

Savita Subramanian, head of US equity and quantitative strategy at BofA Securities, talks about why she is bullish on US equities when many on Wall Street are cautious. Edited excerpts: You are one of the most optimistic Wall Street equity strategists, while many are struggling to find reasons to be optimistic. Why?

derivatives and work to ensure that smaller retail players do not pay more for access to foreign exchange products, central bank governor Shaktikanta Das said Wednesday, underscoring the need for local banks to reflect the country's rising economic status and emerge as market makers. «Participation of domestic banks in derivative markets remains limited with only a small set of active market-makers… Domestic banks are dealing with market-makers in global markets rather than with end clients and are yet to emerge as market makers of note globally,» Das said at a conference of fixed income market participants in Barcelona.

JPMorgan CEO Jamie Dimon warned his fellow shareholders of increased U.S. inflation due to “a growing need for increased spending” in his annual shareholder letter published on Monday.

Stocks drifted to a mixed close after last week’s roller-coaster ride left them shy of their records

Recently, two international organizations published their assessment of India’s labour market and employment situation. Two weeks ago, the International Labour Organization (ILO), in collaboration with the Institute for Human Development (IHD), released the India Employment Report 2024, focusing on youth employment. Shortly thereafter, the World Bank released its South Asia Development Update (SADU), with a focus on jobs.

The global labour market is in the midst of a gradual but significant transformation. Driven by a dramatic collapse in birth rates, impeded globalization, changes in the capital intensity of growth, a preference shift towards fewer work hours, initial use cases of artificial intelligence (AI) and societal angst over immigration, labour market dislocations have already begun and are only about to go further out-of-whack with time. The manifestations and initial responses are different, country by country, but the meta phenomenon is a major upheaval in labour markets that will necessitate responses.

The World Inequality Lab (WIL) recently published a report, Income and Wealth Inequality in India 1922-2023: Rise of the Billionaire Raj. The subtitle is a nod to the name of a 2018 book by James Crabtree, then a Financial Times correspondent and considered an avid India watcher. The book described itself as a journey through India’s new gilded age and had the imprint of a journalist’s keen eye for detail and drama.

New Delhi: Taking on opposition parties for making personal attacks against PM Narendra Modi, defence minister Rajnath Singh on Monday said that more the mus they throw, more the lotus will bloom. Speaking at rallies in Tamil Nadu, Singh took on the INDIA bloc, saying that debates on the government's policies are welcome but its intentions cannot be questioned.

Further signs of a solid U.S. economy and potential delays to anticipated interest-rate cuts could prolong the dollar’s strength, analysts said. Many analysts and fund managers have been anticipating that the dollar would fall this year as the Federal Reserve starts to cut interest rates, but rate-cut expectations have been trimmed back sharply recently while U.S.