Economy Financial News

The sudden death of China’s former No. 2 leader Li Keqiang has shocked many people in the country

About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period

Wall Street is slipping amid the latest batch of corporate earnings from big technology companies and some mixed readings on the U.S. economy

Former Premier Li Keqiang, China’s top economic official for a decade, has died of a heart attack at 68

Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business

An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth

Maruti Suzuki India Ltd on Friday said the domestic car market is likely to stagnate next financial year as the small car segment, which is crucial for growth, is unlikely to revive in the next two to three years. “The industry is not optimistic about growth next year and the growth projections for the next year are virtually at stagnation levels. That’s partly because of the de-growth in the small car segment,” R.C.

Yesterday’s blowout rise for US economic growth in the third quarter delivered an upside surprise, especially for analysts who remain all in with forecasting recession. But perhaps the warnings will finally find traction via the current run of softer Q4 nowcasts.

Netflix co-founder Marc Randolph recently turned to X (previously Twitter) and offered an interesting story about Microsoft founder Bill Gates, the world's ninth richest man. Randolph stated that Gates used to fly economy class on a plane despite his $40 billion fortune. He also stated that Gates could easily afford to travel first class and explained why the Microsoft founder did not. «Bill Gates traveled by economy class most of the time, not because he was unable to pay for first class but rather because he did not believe it offered a good value.» «It's five or six times more expensive, but only marginally better [and you all arrive at the same time],» Randolph explained. The Netflix co-founder then explained why he doesn't waste money on unnecessary things. He explained that he could easily buy a really great automobile right now, but he had never been a car man, and he didn't need a Lamborghini.

Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria. Brent crude futures for December rose 93 cents or roughly 1.1%, to $88.86 a barrel by 1254 GMT.

U.S. consumer spending increased more than expected in September, keeping it on a higher growth path heading into the fourth quarter, while monthly inflation was elevated, data on Friday showed. The dollar index, which measures the currency's strength against a basket of six rivals, was 0.1% lower at 106.47, with analysts attributing some of the weakness to month-end flows where investors buy and sell currencies to rebalance their portfolios toward the end of the month.

Economists no longer expect a recession. Such was according to a recent WSJ survey of Wall Street economists. To wit:

ALSO READ: Mizoram CM refuses to share stage with PM Modi 1. The BJP said it will launch “Mission EDU Upgrade or Education upgrade" and “Zirlai Simathawana Mission" with budget of ₹250 crore and ₹350 crore respectively to revamp existing government schools and colleges with the state-of-art facilities 1. The BJP promised to establish a Mizoram sports academy, which will be fully funded. Scholarships will be provided to aspiring athletes, and strong emphasis will be laid on football, wrestling, hockey, weightlifting and badminton 2. It also promised to launch Mizoram Olympic mission 1. Nadda further said the party will collaborate with the central government to upgrade the Zoram medical college in Mizoram as the regional institute of medical sciences 2. The party said it will double the family annual health insurance coverage under Ayushman Bharat from ₹5 lakh to ₹10 lakh 1. The BJP will introduce a women empowerment scheme under which every girl child will be offered financial assistance of ₹1.5 lakh 2. It also promised 33% reservation for women in government jobs 1. The BJP announced that Mizoram Urban Infrastructure Development Mission will be introduced with a corpus of ₹400 crore.

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By Hari Kishan

By Lucy Raitano

With just three trading days left in October, Wall Street’s three major indexes are on track to end the month with heavy losses as surging bond yields and fresh uncertainty surrounding the future path of the Federal Reserve’s interest rates rattled investors.

By Naomi Rovnick and Stella Qiu

At the same time though, flexibility needs to go hand-in-hand with accountability and responsibility – and workers need to put in that extra effort and work to take the economy forward, HR heads, startup founders, business advisors and consultants told ET. Infosys founder NR Narayana Murthy recently said on 3one4 Capital’s podcast that Indian youngsters need to work up to 70 hours a week to improve work productivity and enhance the country’s competitiveness on a global scale. The comment has stirred up a heated debate in social media and corporate circles, with the likes of Ola CEO Bhavish Aggarwal voicing his support, while some others on social media platform X have called it a ‘sweatshop attitude’. Many feel that working as much as 70 hours a week will take a toll on not just work-life balance but also mental and physical health. “After a while, the person may not remain intellectually alert.

Barclays strategists highlighted the fact that investor reactions to the third quarter earnings season have been “negative” so far.

The escalation and de-escalation of the Israel-Hamas war has led to on-again, off-again risk premium for oil