At the start of the week, futures tied to Wall Street’s main indexes showed signs of recovery after facing significant losses in the previous week. The optimism among investors regarding a soft landing for the U.S. economy was evident, especially with a crucial inflation report on the horizon. Megacap stocks were on the rise in
Economy
Recent data from a survey of recruiters in Britain has revealed a notable cooling in the labor market. The Report on Jobs from the Recruitment and Employment Confederation and KPMG highlighted a significant decline in permanent job placements, marking the fastest decrease in five months. This decrease in job placements is concerning as it indicates
Egypt’s economy has been experiencing a complex interplay between government policies and inflation rates. Despite a forecasted decline in inflation for the sixth consecutive month in August, the country has been grappling with the impact of government-led price hikes. The $8 billion financial support package signed with the International Monetary Fund has been instrumental in
France is facing difficulties in meeting the deadline set by the European Commission to submit a plan to reduce its public deficit. According to reports, the country’s budget deficit could spiral unexpectedly higher this year and next if additional savings are not found. This situation has put France into EU disciplinary proceedings and has intensified
U.S. Treasury Secretary Janet Yellen has hinted at the end of her tenure in government once President Joe Biden’s term concludes in January. At the Texas Tribune Festival, Yellen indicated that she is “probably done” at the highest levels of government, leaving room for uncertainty about her future endeavors. Despite not making a definitive statement,
The recent appointment of Michel Barnier as the new prime minister of France by President Emmanuel Macron has sparked outrage and protests across the nation. Left-wing parties are accusing Macron of stealing legislative elections by appointing a center-right candidate as prime minister, going against the will of the people. This move has led to thousands
Thailand’s new Prime Minister Paetongtarn Shinawatra has expressed her government’s intention to stimulate the economy “right away” by continuing with the policies of former premier Srettha Thavisin. This decision was made clear during a special cabinet meeting held to prepare policies that will be presented at a 2-day meeting of parliament. The new administration under
New York City, known for its bustling urban landscape and high population density, is facing a critical need for more housing development to cater to its growing population. Mayor Eric Adams has made building more housing a top priority for his administration, with a goal of constructing 500,000 new homes by 2032. The city’s Department
The notion of a significant manufacturing resurgence in the United States has become a focal point in political discourse in recent years. Both the current and previous administrations have put forth ambitious plans to revitalize the manufacturing sector through initiatives such as tariffs, tax incentives, and government investments. However, data suggests that U.S. manufacturing has
Recent reports suggest that the U.S. Federal Reserve and other regulators are gearing up to announce significant revisions to the proposed bank capital rules. These changes, which could span up to 450 pages, will focus on key aspects such as operational risk provisions. Among the expected alterations are reductions in the capital requirements for business
French Prime Minister Michel Barnier, known for his role in negotiating Brexit for the European Union, has been appointed as Prime Minister of France by President Emmanuel Macron. This comes at a critical time as France is facing deep political fault lines and a divided parliament. President Macron’s decision to appoint Barnier reflects his belief
The latest data from the Labor Department reveals a decline in the number of Americans filing new jobless claims. This decrease in layoffs signals a positive trend in the labor market and helps alleviate concerns about its deterioration. The report also indicates a reduction in unemployment rolls, reaching levels not seen since mid-June. This development