U.S. Treasury Secretary Janet Yellen recently expressed that she is likely “done” serving at the highest levels of government once President Joe Biden’s term concludes in January. However, she mentioned that she may meet with the Chinese Vice Premier He Lifeng soon. During the Texas Tribune Festival in Austin, Texas, Yellen hinted at her future
Economy
President Emmanuel Macron’s decision to appoint centre-right Michel Barnier as prime minister has sparked protests across France. Barnier, a conservative figure and the EU’s former Brexit negotiator, faces the challenge of leading a government without a clear majority. This poses significant obstacles as he seeks to implement reforms and address the country’s budgetary concerns. Left-wing
The concept of a U.S. manufacturing revival has been a hot topic in political circles, with promises of restoring the industrial might that once defined the American economy. However, upon close inspection, it is evident that the manufacturing sector has been on a gradual decline for decades. While certain industries like semiconductors have seen modest
The article highlights the looming threat faced by Elizabeth Street Garden in lower Manhattan, as the city plans to develop affordable housing on the land. Despite opposition from prominent figures like Robert De Niro and Martin Scorsese, the fate of this urban oasis hangs in the balance. The conflict underscores the dilemma facing New York
Thailand’s newly elected Prime Minister, Paetongtarn Shinawatra, has expressed her commitment to stimulating the economy right away. In a recent special cabinet meeting, she outlined plans to continue the policies of her predecessor, Srettha Thavisin, with some adjustments. The focus will be on debt restructuring, supporting small and medium-sized enterprises, and boosting the agricultural and
Recently, there have been reports that the U.S. Federal Reserve, along with other regulators, is gearing up to introduce significant changes to proposed banks capital rules. This new proposal is expected to be unveiled as early as September 19 and could span up to approximately 450 pages. A key focus of these revisions is centered
Michel Barnier, a figure known for his role in negotiating Brexit, has now been appointed as the Prime Minister of France. This transition from EU politics to domestic governance comes at a crucial time for the country, as it is faced with a fragmented political landscape and economic challenges. With his extensive experience in European
Recent data from the Labor Department revealed a decline in the number of Americans filing new applications for jobless benefits. This decrease in jobless claims suggests that layoffs are remaining low, which is a positive sign for the labor market. The report also indicated a reduction in unemployment rolls to levels last seen in mid-June.
The recent sell-off in Wall Street has led to a surge in the safe-haven Japanese yen, while riskier currencies like the Australian dollar and sterling have been struggling. This shift in market sentiment was triggered by soft U.S. manufacturing data, which has raised concerns about a potential hard landing for the world’s largest economy. Traders
Bank Negara Malaysia is anticipated to hold its key interest rate steady, according to a recent poll of economists conducted by Reuters. This decision comes as the country’s economic growth remains robust, with inflation levels being well-controlled. Despite the stability in inflation at 2.0%, the Malaysian ringgit has experienced a significant turnaround, transitioning from one
New Zealand house prices are expected to rise by 6% next year following a recent decline. Despite a significant increase in interest rates, home prices are still close to their peak in November 2021. This indicates that the housing market in New Zealand has been resilient, despite the challenges posed by the COVID-19 pandemic. The
Recent data released by the Ministry of Finance in Japan has revealed that corporate spending on plant and equipment has increased by 7.4% year-on-year in the second quarter. This impressive growth is contributing to expectations of a domestic-led recovery in economic growth for the country. The strong expenditure numbers are anticipated to play a crucial