Pandemic Financial News

Amazon has reported a boost in its quarterly profits, but the company missed revenue estimates, sending stocks lower in after-hours trading

An Alabama woman has pleaded guilty to federal wire fraud and money laundering charges for fraudulently claiming nearly $2 million in pandemic relief funds

Being worth a million dollars used to be the exception, but for Canadian households it is now just average — though it isn’t quite as straightforward as it sounds. Data released by Statistics Canada in June showed that in the first quarter of 2024, average household net worth reached $1,009,483, an increase of about 2.5 per cent from a year ago and up nearly 28 per cent from the final quarter of 2019, the last full quarter before the pandemic. While total household wealth may be at a record, it isn’t the first time average wealth has passed the million-dollar threshold. For three quarters during the pandemic, when real estate values ballooned and savings rates soared, average household wealth also topped seven figures. Stock market gains have helped fuel the latest wave of wealth growth, contributing to inequality along the way.

The rate cut call which took place today (1 August) was on a knife edge among a divided Monetary Policy Committee, with 5-4 voting in favour of the snip. This is the first time the UK's central bank has trimmed its bank rate since the early days of the pandemic in March 2020, with some of the more hawkish MPC members having voted for a cut in previous meetings. «Despite concerns over persistent underlying inflation pressures, the decision to ease policy reflects the UK's fragile growth trajectory, driven by the significant squeeze on consumers and businesses,» said James Carter, portf...

The Federal government’s move to rein in the entry of temporary residents to Canada could have more of an impact than we thought.

Orlando-area realtor and TikTok creator Freddie Smith on Floridas pricey market and best advice for achieving homeownership.

Nirmala Sitharaman Wednesday said the budget seeks to strike a fine balance among several overriding priorities and will provide impetus to local manufacturing, boost employment and raise India's share in global growth. «Growth, employment, welfare spending, capital investments, and fiscal consolidation are given equal place,» she said in Rajya Sabha.

Etsy says it will begin testing its first-ever loyalty program in September

Parikh also spoke about the workplace and inculcating a culture of work-life balance so as to get the best from his team. He feels spending time with family, having hobbies, and doing things you enjoy helps in giving you 100 per cent when you are at work. He feels fortunate to be in the minority of top leaders who don’t feel stressed.“If your core team also has the same shared values and the same fundamentals as you, and a long term approach to things, then collaboration becomes fun.

Starbucks Corp. delivered results that were in line with expectations, assuaging investors who had been bracing for another meltdown after being blindsided by the previous quarter’s slump. 

₹40 lakh has been seeing a decline in overall sales since the pandemic, to 19% in H1 2024 from over 38% in the same period before the pandemic in 2019. Over the last few years, affordable housing finance companies (AHFCs) have seen increased interest from investors amid growth expectations. Some of the companies have raised capital from the market in addition to some players getting capital from marquee investors.

The Georgia Ports Authority says it moved a record number of automobiles across its docks in the 2024 fiscal year, bringing it neck-and-neck with the top U.S. auto port

U.S. job openings fell slightly last month, a sign that the American labor market continues to cool in the face of high interest rates

Toronto’s housing market offered a rare moment of relief for renters, as average rents dropped for the first time in three years.

US economy is staring at an imminent recession, former Federal Reserve economist Claudia Sahm has rejected it, reports the 'Fortune'. She has said that though the Sahm rule is close to triggering, a recession is not imminent. Named after Claudia Sahm, the Sahm rule says that a recession appears on the horizon after the unemployment rate’s current three-month moving average exceeds the lowest three-month moving average of the trailing 12 months by half a percentage point or more. According to the Federal Reserve, this reading is 0.43% points at present.

Home prices reached a new record in May amid an ongoing housing shortage, even as high mortgage rates continued to push affordability out of reach for millions of Americans.

With an increasing number of alternative investments to choose from, several advisors agree that growth equity is currently the most popular private equity sub-strategy.

Europe’s economy enjoyed only modest growth in the April-June quarter even as the U.S. outperformed expectations, highlighting a persistent transatlantic growth gap with Germany, the leading European economy, remaining in the dumps and as hesitant cons...

India is moving towards a new fiscal policy framework. Finance minister Nirmala Sitharaman said in the Union budget announced earlier this month that after 2025-26, the government will try to keep the fiscal deficit at a level “such that the central government debt will be on a declining path as a percentage of GDP." What does this mean? India currently has a fiscal law that expects the Union government to keep its annual fiscal deficit below 3% of gross domestic product (GDP).