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Last week was a busy one for Prime Minister Justin Trudeau. Leaks undermining his finance minister surfaced, as did reports that he was courting former Bank of Canada governor Mark Carney. But the biggest splash was in the New York Post, which reported that Canada quietly spent US$6.63 million (C$9 million) to buy a lavish condo overlooking Central Park on Billionaires’ Row in Manhattan, which we later learned is meant to house our consul general, former broadcaster Tom Clark.

A rather gloomy outlook from the Bank of Canada‘s business and consumer surveys yesterday had some economists questioning whether the central bank might have waited too long to pull the trigger oninterest rate cuts.

Canada’s large pensions are facing rising losses from real estate investments, according to a sector report by Fitch Ratings Inc., which concluded that fund titans are nevertheless well-positioned to absorb near-term market swings.

The Dow Jones Industrial Average surged to a new record high Tuesday, as blue chips gained while tech stocks lagged.

A fresh wave of tariffs could revive inflation and pressure central banks to keep their key interest rates high, the International Monetary Fund warned Tuesday. In its latest report on the outlook for the global economy, the Fund said borrowing costs could also be pushed higher by a series of elections that may lead to a surge in already high levels of government borrowing. The Fund left its forecast for world economic growth this year unchanged at 3.2%, and raised its forecast for next year to 3.3% from 3.2%.

Charles Schwab Corp. reported that fewer clients opened new brokerage accounts with the investing giant than analysts expected, sending shares of the company down in early trading. 

Many Americans think they're insulated from the effects of global warming. But climate change is already having negative and broad impacts on household finances, according to experts.

Laptop in checked luggage caused smoke, evacuation of plane at SFO, local KTVU Fox 2 reports. Credit: Jan Jankai via Storyful

Ironsides Macroeconomics Managing Partner Barry Knapp discusses the 'era of financialization' on the 'Unbreakable Investor' town hall on 'Making Money.'

Earth's rotation, which determines the length of each day, is being altered by the impacts of human-induced climate change, a new study published in the Proceedings of the National Academy of Sciences has revealed. The research suggests that polar ice melt caused by global warming is changing the planet's rotation and increasing the duration of each day, a trend expected to accelerate over the coming century as humans persist in emitting greenhouse gases, according to a report from CNN. Although the changes are minute, measured in milliseconds per day, they have significant implications for our technology-dependent world, particularly for computing systems like GPS. This phenomenon underscores the profound influence humans are exerting on the planet. «This is a testament to the gravity of ongoing climate change,» said Surendra Adhikari, a geophysicist at Nasa's Jet Propulsion Laboratory, and a report author. The Earth's rotation speed, which determines the number of hours, minutes, and seconds in a day, is influenced by a complex interplay of factors, including processes in the planet's fluid core, the lingering effects of glacial melt since the last ice age, and the melting of polar ice due to climate change.

inflation data is allowing the Federal Reserve to begin a «very reasonable» shift toward easing rates, but a still-strong U.S. labor market means that there's no rush to make decisions, International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters. Gourinchas said in an interview accompanying the release of new IMF growth forecasts on Tuesday it is better for the Fed to wait a bit longer to ensure there are no further upside surprises on inflation like those in the first quarter that delayed expected rate cuts to later this year. «Given the good news on inflation, it's very natural that the Federal Reserve is now starting to look at what's happening in the labor market and wanting to make sure that they don't overdo it» with tight monetary policy, Gourinchas said.

Karnataka Chief Minister Siddaramaiah on Tuesday announced a major raise in the pay of government employees with retrospective effect from July 1, 2022, after unions threatened to go on an indefinite strike. The revision will increase the basic salary and pension of employees by 58.50%, the chief minister said in a statement in the assembly. The hike in pay and pensions would mean an additional expenditure of Rs 20,208 crore per annum to the cash-strapped government which has been struggling to meet demands from both government and MLAs who have been lobbying hard for funds for their constituencies. The government has set aside the funds in the budget for 2024-25 to meet the revised pay and pension, the CM said. The revision is in line with the recommendations of the seventh pay commission, headed by former chief secretary K Sudhakar Rao. The commission, set up on Nov 19,2022, to address the demands for revision of pay, allowance, and pension of government employees, submitted its report on March 24, 2024.

SpiceJet on Tuesday announced that Ashish Kumar, Head of Finance and Chief Financial Officer, will be leaving the company to explore other opportunities. In place of Kumar, Joyakesh Podder will be taking over as as the Deputy Chief Financial Officer of the company with effect from July 15, 2024. «Podder is a Chartered Accountant with over 30 years of experience in large organizations like PwC, Reliance, Mahindra, Go Air, SpiceJet etc. in aviation, hospitality and telecom sectors,» said the airline through stoch exchanges.

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Driven by growth in online advertising and live events, global entertainment and media revenue is expected to grow 3.9% annually on average over the next five years, jumping from $2.8 trillion in 2023 to $3.4 trillion in 2028, according to a new report from PricewaterhouseCoopers LLP. 

European stocks fell and US equity futures pared earlier gains as disappointing corporate earnings weighed on sentiment.

A new survey by Debt.com reveals that inflation is exacerbating the challenges many Americans face in paying their medical bills. The survey, which polled 1,000 Americans, highlights a significant rise in medical debt since the onset of the COVID-19 pandemic.

medical insurance for senior citizens in India and how a reliable medical insurance policy can empower them in their golden years.Medical insurance for senior citizens is not just a financial product; it is a necessity. Here are some key reasons why:When choosing a health insurance policy for senior citizens, it is important to consider the features and benefits it offers.

Moody’s expects the Federal Reserve to begin policy easing with a 25 basis points (bps) cut as early as in the 30-31 July meet. “The CPI data confirms our view that the hotter-than-expected inflation prints in the first quarter were from one-time price adjustments at the start of the year. The rapidity with which the labour market has cooled suggests that the drag from tight monetary policy is growing. If the Federal Open Market Committee decides to hold the federal funds rate at the current 5.25-5.50% in the July meeting, the labour market will likely weaken further, raising the chance of a larger 50 bps cut in September,” said Madhavi Bokil, Senior Vice President at Moody’s Ratings.

import of precious metals from the UAE under a free trade agreement with India. GTRI demanded an investigation, citing the negative impact on the domestic jewellery industry and potential annual revenue loss for India, PTI reported. The key issue centers around the India-UAE Comprehensive Economic Partnership Agreement (CEPA) that permits unlimited imports of gold, silver, platinum, and diamonds from the UAE into India with zero tariffs in the coming years. GTRI's report highlighted that addressing these issues is crucial to ensure the integrity of import practices, safeguard domestic industries, and prevent significant revenue losses. The report noted that the zero-tariff policy under CEPA could cause an annual revenue loss of Rs 63,375 crore due to duty-free imports of gold and silver, based on FY2024 import levels. This policy is also likely to shift import business from banks to a few private traders and replace top suppliers with Dubai-based firms.

«It was largely the 125cc segment that has maintained and despite that the company has reported that kind of growth in overall motorcycle sales,» says Abhishek Gaoshinde, Sharekhan By BNP Paribas. Help us with your first cut on the earnings of Bajaj Auto. How do you see the numbers versus your estimates as well as what was the standout point for you in the earnings and the press release? Abhishek Gaoshinde: Broadly what we can see that the numbers were in line with the estimate given that kind of a volume growth and the product mix that the company has reported.