Economy

The recent rail stoppage in Canada, initiated by the two biggest freight rail operators CN and CPKC, has the potential to devastate the country’s economy. Economists and analysts warn that if the stoppage continues for weeks, Canada could see a significant shrinkage in its GDP, leading to job losses and a rise in consumer prices.

The dollar has fallen to its lowest point this year against the euro, with traders anxiously awaiting potential revisions to the U.S. payrolls data. This uncertainty is further compounded by an upcoming speech from Federal Reserve Chair Jerome Powell, adding to the volatility in the market. The pressure on the U.S. currency is evident as

A luxury yacht named Bayesian, carrying 22 people and anchored off the port of Porticello, was struck by a violent storm, resulting in the tragic sinking of the vessel. One person on board lost their life, and six individuals, including British tech entrepreneur Mike Lynch and his daughter, are still missing. Among the missing passengers

Investor confidence is on the rise as anticipation builds for Federal Reserve Chair Jerome Powell’s upcoming speech. Stock markets around the world are showing signs of positivity, with Asian shares reaching a one-month peak and stock futures pointing towards a positive open in London and New York. The possibility of dovish rhetoric from Powell is

The recent economic data coming out of China has painted a bleak picture of the country’s economic health. With new home prices plummeting, industrial output slowing, export and investment growth declining, and unemployment on the rise, the pressure is mounting on Beijing to take decisive action to jumpstart growth. While there were some data points

Indonesia’s outgoing government recently submitted a 2025 budget plan to parliament targeting a narrower deficit and higher expenditure than the current year. The budget proposal, worth 3,613.1 trillion rupiah, projects a deficit of 2.53% of GDP – narrower than this year’s 2.7%. This move signifies that Southeast Asia’s largest economy intends to remain fiscally prudent

The recent surge in the US stock market can be attributed to positive economic data that has alleviated concerns about an impending recession. Following a significant sell-off earlier in the month, the S&P 500 has managed to bounce back by over 6%. This recovery has been fueled by reports on retail sales, inflation, and producer

Wealth managers utilize cash sweep programs to transfer uninvested cash in brokerage accounts to partner banks, allowing clients to earn returns on idle funds. However, these programs have come under scrutiny due to disputes surrounding the interest rates paid by partner banks, which are often lower than alternative options such as money market funds. Recent

The recent appointment of Alan Taylor, an economics professor specializing in international economics and financial crises, to the Bank of England’s Monetary Policy Committee has drawn attention from economists and financial experts alike. Taylor, a British-born professor currently at Columbia University in New York, brings a wealth of experience from both academia and the financial

The recent uptick in the U.S. stock market has been quite significant, with the S&P 500 and Nasdaq recording their biggest weekly percentage gains since late October. This positive momentum has been attributed to the easing of fears of an economic downturn. Investors are now eagerly awaiting the Jackson Hole Economic Symposium, hoping for more

In the current financial landscape, Asian stocks are holding firm, showcasing resilience amidst global economic uncertainties. The dollar, on the other hand, is struggling with lower U.S. Treasury yields, signaling potential interest rate cuts by the Federal Reserve in the near future. Regional equities, particularly in Japan and Australia, have been showing positive signs with

Commonwealth Bank of Australia, the largest lender in the country, recently announced its annual cash profit for the year ending June 30. Surprisingly, the cash profit of A$9.84 billion exceeded expectations, although it was slightly lower than the previous year’s record of A$10.16 billion. Additionally, the bank declared its highest-ever dividend of A$2.50 per share,