On Monday, United States regulators seized and sold First Republic Bank to JP Morgan Chase & Co, marking the third significant bank failure in two months. The acquisition consists of…
Category: World finance
Recession Looms: Stock Markets Face Painful Downturn
According to Chris Watling, CEO of the financial advisory firm Longview Economics, a recession is on the horizon, and investors may be in for a rough ride on the stock…
New York Budget Stuck in Neutral: Tax Hike on Hold Despite $8 Billion Surplus
New York State lawmakers have yet to agree on a budget, putting them nearly three weeks behind schedule. The negotiations have stalled, and the debate over increasing taxes on New…
US Economy Regains Growth Momentum in April
S&P Global has released a new report indicating that the United States economy is experiencing its strongest expansion in nearly a year. In April, the company’s composite PMI reached 53.5,…
Big Four Job Cuts: Thousands to Lose Jobs as Deloitte, Ernst & Young and KPMG Slash Workforce
Deloitte has joined the Big Four consulting firms in terminating employees. The company announced that it would eliminate 1,200 positions in the United States, or approximately 3 percent of its…
Bank of Canada Holds Interest Rates Steady, Bringing Stability for Newcomers and their Future Finances
The Bank of Canada (BoC) announced on April 12 that it would maintain its interest rate at 4.5 percent. Since this rate has remained unchanged since January of this year,…
China warns of global financial instability from aggressive US policies
China has issued a warning regarding the possibility of global financial instability resulting from the economic and financial policies of the United States and other developed nations. According to the…
Larry Summers dismisses speculation of dollar losing global dominance
Former Treasury Secretary Larry Summers dismissed concerns about the dollar losing its dominance in the global economy, citing China’s limitations in offering an alternative reserve currency. China’s recent capital outflows…
Gen-X Bankers Warn Gen-Z Content Creators: Don’t Give Up Your Day Job – The Stark Reality of the Creator Economy
Two papers from Goldman Sachs and Citigroup examine the present and potential of the global creator economy. According to both studies, the creator economy is an ecosystem in which people…
Canadians Struggle with Rising Prices as Retail Sales Decline Amid Inflation and High Interest Rates
As a result of high inflation and interest rates, Canadians consumers are reducing their expenditure, which is having a negative impact on retail sales. In February, retail sales decreased 0.2%…