Economy Financial News

During their debate Joe Biden and Donald Trump engaged in silly finger-wagging about who had expanded the deficit most. But neither had any sort of plan to deal with mounting deficits and mountainous debt. Consolidated government gross debt has reached 123 per cent of U.S. GDP, heading for 134 per cent in 2030. With rising interest rates, Democrats’ devotion to more spending and Republicans’ to tax cuts means the debt can only rise, and with it the likelihood of financial stress. That incumbent governments are floundering should surprise no one. This week it’s happening in the U.K. and France. This fall and next year it may happen in the U.S. and Canada. You mess up economically and voters punish you. To paraphrase Bill Clinton: “It’s almost always the economy, stupid.” —

Kevin O'Leary has stated that approximately half of Canadians are interested in Donald Trump's proposal to merge the United States and Canada. This claim has sparked intense discussion about the potential implications of such a union.

Subscribe to enjoy similar stories. In 1991, India was facing political and economic instability. We had a minority government under P.V.

Canadians preparing to head to the polls in the new year are likely to be voting with their wallets.

Subscribe to enjoy similar stories. Manmohan Singh was chief guest at the annual convocation of the Indian Institute of Management Bangalore on 15 April 1991. He was then chairman of the University Grants Commission and an advisor to the flailing government led by Chandrashekhar.

Manmohan Singh's contributions as the architect of India's economic reforms have left an indelible mark, RBI Governor Sanjay Malhotra said on Friday as he paid tribute to the departed soul. Singh, the former prime minister and finance minister, also served as the RBI governor between 1982 and 1985.

Subscribe to enjoy similar stories. Federal Reserve Chair Jerome Powell is walking an old tightrope into 2025: He is trying to avoid appearing confrontational with Donald Trump, even though some of his colleagues are signaling unease that the president-elect’s policies might rekindle inflationary pressures. The difficult balancing act was on full display over the last two months.

Oil prices were little changed on Friday but were set for a weekly rise amid optimism economic stimulus efforts will prompt a recovery in China, the world's biggest oil importer. Brent crude futures fell 1 cent to $73.25 a barrel by 0145 GMT. U.S. West Texas Intermediate crude was at $69.60, down 2 cents, from Thursday's close. However, on a weekly basis, Brent was up 0.4% while WTI rose 0.2%.

credit growth to support economic expansion, a central bank report said, which compared the country's total debt to gross domestic product (GDP) metric with the ratios for both advanced and emerging markets to arrive at what it described as an 'optimal' threshold. «India's total credit-to-GDP ratio (including credit extended by banks as well as NBFCs) at 90.1% in 2022 was below that of AEs and emerging market economies (EMEs) as well as the estimated threshold (of 113.1%),» said a note published Thursday in the latest report on Trends and Progress in Banking.

The average rate on a 30-year mortgage in the U.S. rose for the second straight week to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to price home loans

foreign exchange crisis constitutes a serious threat to the sustainability of growth processes and orderly implementation of our development programmes. Due to the combination of unfavourable internal and external factors, the inflationary pressures on the price level have increased very substantially since mid-1990. The people of India have to face double digit inflation which hurts most the poorer sections of our society. In sum, the crisis in the economy is both acute and deep. We have not experienced anything similar in the history of independent India...

 Zelman & Associates executive vice president Ivy Zelman discusses the hurdles of home affordability on 'Barron's Roundtable.'

Manmohan Singh as the Finance Minister of India while P.V. Narasimha Rao was the Prime Minister of India eventually introduced numerous significant reforms which dismantled the License Raj, devalued the rupee and then opened India to foreign investments. The policies chalked out by Manmohan Singh were extremely important in averting a sovereign default while absolutely stabilizing an Indian economy which was on the brink of collapse that was marked by huge fiscal deficits and high foreign exchange reserves. ET Year-end Special ReadsCorp

Manmohan Singh who has been credited passed away at the age of 92 after he was admitted to AIIMS Delhi's emergency department.

India Budget Tax Cut: India is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February's budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters.

Subscribe to enjoy similar stories. As we approach the new year, preparation of the annual budget is proceeding in earnest. Apart from the annual balancing of expenditure, revenues and the deficit, the next budget will hopefully address some medium-to-long term priorities, as there is no other policy document that can address these concerns in the post-Five Year Plan era.

Subscribe to enjoy similar stories. The makers of Titanic were certain the ship wouldn't sink. In World War II, Germany was certain it wouldn't lose.

Subscribe to enjoy similar stories. The Federal Reserve’s decision to cut rates in December is puzzling yet also illuminating. It has given me greater appreciation for the many virtues of monetary-policy rules.

Subscribe to enjoy similar stories. The past decade has witnessed the astronomical rise of crypto assets around the world. Their decentralized nature, transactional speed and accessibility immediately lured users.

Subscribe to enjoy similar stories. Gross domestic product (GDP) data released last month confirm fears of an imminent economic slowdown in India. While the decline in growth to 5.4% in the second quarter of 2024-25—part of a six-quarter downtrend—may have rung the alarm bells, signs of trouble have been visible for a while.