Coronavirus will have an impact on US supply chains: Investor Oxbow Advisers managing partner Ted Oakley discusses the impact coronavirus is having on markets and how it could affect the U.S. economy going forward. TOKYO (AP) — The Japanese economy shrank at an annual pace of 6.3% last quarter as growth was battered by typhoons […]
China may postpone annual congress because of virus
BEIJING (AP) — China said Monday it may postpone its annual congress in March, its biggest political meeting of the year, as the military dispatched hundreds more medical workers and extra supplies to the city hit hardest by a 2-month-old virus outbreak. Japanese officials, meanwhile, confirmed 99 more people were infected by the new virus […]
Low interest rates increase housing wealth inequality, RBA research finds
Low interest rates increase housing wealth inequality, research by the Reserve Bank has found, as governor Philip Lowe signals interest rates could remain low for decades. Using three decades of house price data between 1990 and 2019, the research found housing prices in more expensive areas are more sensitive to changes in interest rates than […]
Democratic rivals accuse Bloomberg of trying to ‘buy’ election
RENO, Nev. — With the Nevada caucuses less than a week away, Democratic presidential candidates campaigning Sunday were fixated on a rival who wasn’t contesting the state. Bernie Sanders, Joe Biden and Amy Klobuchar all targeted billionaire Mike Bloomberg, accusing him of buying his way into the election and making clear they were eager to […]
UK housing boom leads to £2,500 jump in asking prices
Britain’s property market is in the grip of fresh boom, according to Rightmove, with asking prices jumping by more than £2,500 over the past month alone. The average asking price for a home rose to £309,399 in February, £40 shy of its all-time record, said Rightmove. Buyers and sellers have been invigorated by renewed economic […]
Trump’s limo runs a ceremonial lap at Daytona 500
DAYTONA BEACH, Fla. — President Donald Trump gave an election-year embrace to NASCAR and its fans Sunday when he became the second president ever to attend the Daytona 500. The presidential motorcade took to the track to join in a warm-up lap after he had told the crowd that the racers and their teams were […]
People talk of a fear factor depressing investment but Budget doesn’t address it: Montek Singh Ahluwalia
In order to reach the $5 trillion target by 2014-25, the economy has to grow at something close to 9 % starting with 2019-20, the former Planning Commission chief says. Fear factor, a cumbersome tax regime and tax laws criminalising defaults have depressed private investments, noted economist and former Planning Commission chief Montek Singh Ahluwalia […]
Those who don’t work for their goals, work for someone else’s goals
Know where you want to go. Then ensure your planning for financial requirements doesn’t depend on external factors “Saab kahaan jana hein aapko (Sir, where do you want to go?)” is typically what an autorickshaw driver or a taxiwala would ask us when we flag them down. Imagine our answer is “Pata nahi hein (I […]
What type of economy does China have?
China’s Communist Party ‘values loyalty to party over competency’: Hudson Institute fellow Hudson Institute senior fellow Rebeccah Heinrichs talks about how China’s Communist government may have been the reason the initial outbreak of coronavirus went underreported. China is the greatest economic rival to the U.S. — and China's economy has grown more and more similar to the […]
Citigroup CEO Michael Corbat's pay remains at $24M
Jeffrey Epstein, Barclays CEO Jes Staley links lead to investigation Barclays CEO Jes Staley is being investigated over links to Jeffrey Epstein. FOX Business’ Ashley Webster has more. Citigroup CEO Michael Corbat's pay stayed at $24 million in 2019 as the company reported rising profits in the last quarter of the year, according to a regulatory […]