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
Economy
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
The recent sell-off in Wall Street has led to a rally in safe-haven currencies such as the Japanese yen, while riskier currencies like the Australian dollar and sterling have suffered losses. The catalyst for this market movement was the release of soft U.S. manufacturing data, which has raised concerns about a potential hard landing for
Recent economic predictions suggest that Bank Negara Malaysia (BNM) will maintain its key interest rate throughout 2025. Despite robust growth and controlled inflation, all 30 economists surveyed in a recent Reuters poll unanimously agreed that the overnight policy rate will remain at 3.00% on September 5. Additionally, a median prediction from a smaller sample indicated
Recent projections indicate that New Zealand house prices are expected to rebound in the coming year, with a forecasted 6% increase. This turnaround is attributed to the interest rate cuts implemented by the Reserve Bank of New Zealand, aimed at stimulating the housing market. Despite a previous surge in prices during the COVID-19 pandemic, the
Japanese corporate spending on plant and equipment has risen significantly by 7.4% year-on-year in the second quarter, as reported by the Ministry of Finance. This data is a positive sign for the economy, indicating a potential domestic-led recovery in economic growth. With the upcoming release of revised gross domestic product (GDP) figures, the solid expenditure
Brazilians are set to experience an increase in their electricity bills for the month of September. This decision was made by the local power regulator Aneel in response to a decline in reservoir levels at hydroelectric plants. Despite the country’s efforts to incorporate wind and solar power into its energy mix, over half of Brazil’s
China’s manufacturing sector faced a setback in August as it slowed to a six-month low, according to an official factory survey. This decline, as indicated by the Purchasing Managers’ Index (PMI), has raised concerns about the country’s economic growth prospects. The official PMI fell to 49.1 in August from 49.4 in July, marking the fourth
Over the past few trading sessions, Wall Street stocks have shown a positive trend, with the Dow reaching a new all-time high. Companies like Tesla, Amazon, Broadcom, and Marvell have seen significant gains, reflecting investor optimism due to the latest economic data. The market seems to be reacting positively to the possibility of a rate