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The Latest Breaking News from Economy

Mortgage rates are dropping fast after a shock jobs report set off a series of dominoes on Wall Street—The housing market can thank Detroit's striking auto workers

To all the homebuyers dreading the toxic mix of low inventory and 8% mortgage rates, how does a cooling economy and a 7.4% rate sound?

Fortune

The economy is growing at its fastest rate in 3 years and it may be because bosses are treating employees better. Just look at Starbucks gaining $10 billion in one day

Starbucks soared 12% after crushing its earnings, surprising analysts. Another surprise: It's investing in things that help its workers do their jobs better.

Fortune

Netflix is still growing its subscriber base – here's how a local approach is helping

Netflix had a tough year in 2022. Big rivals such as Disney and Amazon Prime were circling, and viewers seemed to be rethinking their streaming habits amid rising prices in a turbulent global economy. Netflix lost subscribers, and its share value plummeted.

The Conversation

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SPY vs. PAPR: Bullish or Bearish?

While the Fed is expected to keep interest rates higher for longer, recent robust economic data reinforced the optimism that the economy could avoid a recession. Given the market’s improving outlook, let’s determine whether investors should be bullish or bearish on large-cap ETFs SPDR S&P 500 ETF Trust (SPY) and…

StockNews.com

Crude Oil Falls on Weaker-Than-Expected U.S. Unemployment Report

December WTI crude oil (CLZ23 ) today is down -1.18 (-1.43%), and Dec RBOB gasoline (RBZ23 ) is down -0.0503 (-2.24%). Crude oil and gasoline prices are sharply lower after today's weak U.S. unemployment report reinforced the idea that the U.S. economy is headed for a significant slowdown. Crude prices...

Barchart

Santa Claus Rally for Stocks Came Early?

Stocks have found a bottom after a nasty 3 month correction. Helping matters was statements by Fed Chairman Powell on Wednesday with stocks roaring higher ever since including a decisive break above the 200 day moving average for the S&P 500 (SPY). No doubt we want to know what this…

StockNews.com

OPINION - Airport lounges are victims of their own success, they’re now far too popular

Forget The Bishops Avenue in north London, Billionaire’s Row in Manhattan or Mount Nicholson in Hong Kong. The most expensive real estate in the world can be found on an aeroplane.Every inch — from the cardboard excuse for a seat in economy class to the luxuriant flat beds in first…

Evening Standard

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Today’s Unemployment Report Might Be the Nail in the Coffin for Fed’s Rate-Hike Regime

Today’s weaker-than-expected U.S. unemployment provided strong support for this week’s theme that the Fed’s rate-hike regime is likely over. Oct U.S. payrolls rose by +150,000, weaker than expectations of +180,000, and Sep payrolls were revised lower to +297,000 from +336,000. Also, the Oct U.S. unemployment rate rose by +0.1 points...

Barchart

Present Kerala’s case strongly before Finance Commission to recover lost fiscal space, govt. advised

The State government has been advised to prepare well and present its case strongly before the soon-to-be constituted 16th Finance Commission to recover Kerala’s lost fiscal space.

The Hindu

3 Inverse Bond ETFs to Buy in November for Safety

The stock market could be on shakier ground with the increasing probability of higher-for-longer interest rates and concerns about how long the economy can maintain its resilience. Hence, top inverse bond ETFs ProShares UltraShort 20+ Year Treasury (TBT), Direxion Daily 20+ Year Treasury Bear 3x Shares (TMV), and ProShares Short…

StockNews.com

US jobs report weaker than expected; UK economy ‘flirting with recession’, economists say –as it happened

US economy adds 150,000 jobs in October and previous months are revised lower, boosting investor expectations that the Fed won’t hike interest rates again

The Guardian - UK

US jobs report for October could show solid hiring as Fed watches for signs of inflation pressures

America’s employers likely kept hiring at a healthy pace last month, defying high interest rates, rising pressure on consumers and labor strikes that idled big swaths of the nation’s auto industry

The Independent UK

Starmer calls on Sunak to jumpstart economy after Bank of England predicts zero growth until 2025

Labour leader tries to draw a line under fraught week in which members of his frontbench have been in open revolt over his stance on Gaza

The Independent UK

Starmer warns King’s Speech will be ‘manifesto for stagnation’

The Labour leader will call for a ‘big build’ to kick-start the economy during a visit to the North East.

The Independent UK

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Foreign Policy

The Dollar’s Dominance Is Shakier Than Ever

BRICS has growing currency leverage despite internal divisions.

The Independent UK

Bank of England holds interest rates at 5.25 per cent as zero growth forecast until 2025

Governor Andrew Bailey said it was “much too early” to think about cuts to interest rates

The Texas Tribune

In a hot oil and gas economy, a West Texas welder charts his own course one cup of coffee at a time

Fabian Maldonado has supported his Odessa family for years on his welding salary. Wanting more, he’s gambling that a mobile coffee trailer can withstand the booms and busts of the industry.

Newsroom.co.nz

NZ needs to avoid becoming dumping ground of world's inferior products

The right to repair is necessary to address waste management and overconsumption, and would support a circular economy where resources remain in use for as long as possible

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The Independent UK

Japan's prime minister announces $113 billion in stimulus spending

Japanese Prime Minister Fumio Kishida has announced a stimulus package of more than 17 trillion yen ($113 billion) that includes tax breaks and benefits for low-income households

The Hindu

KDEM organises Women@Work conclave in Mysuru

KDEM, in association with KSDC, organised Women@Work (W@W) conclave in Mysuru to empower women and actively participate in the workforce. Sanjeev Gupta, CEO of KDEM, emphasised the importance of networking for women to bolster self-confidence, negotiate and achieve excellence. Panel discussions on ‘Reskilling and Upskilling’, ‘Women in India’s Tech and…

Fortune

Almost half of CEOs surveyed have a pessimistic outlook for the economy

A Fortune survey conducted with Deloitte found CEO pessimism is ticking back up from the beginning of the year.

Fortune

The largest freight bankruptcy in history punched a $5 billion hole in the economy, cost 30,000 jobs, and left the taxpayer holding the bag for a COVID bailout

Would you take a deal to revive Yellow and bring back some of its lost jobs? Or would you scrap it and sell it for parts?

Zenger

JPMorgan CEO Dimon: More Rate Hikes Warranted, But Pause Needed

JPMorgan CEO Dimon warns of potential economic shake-up due to rate hikes and quantitative tightening.

The Independent UK

US applications for jobless benefits inch higher but remain at historically healthy levels

The number of Americans applying for jobless benefits inched up last week but remains low by historical standards, even with the Federal Reserve’s aggressive interest rate hikes meant to cool the economy and taper lingering inflation

Evening Standard

OPINION - Andrew Bailey: Interest rates will need to stay high for some time

In exclusive article for the Standard the Bank of England Governor warns there is still a long way to go in the fight against inflation

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