Gross domestic product (GDP), the broadest measure of economic activity, increased at an annualized rate of 4.9% in the July-September period, the highest since the fourth quarter of 2021, when it grew by 5.1%.
Category: News
Bank of Japan Struggles to Keep Yields Low Amid Global Rate Hikes
The Bank of Japan (BoJ) is facing mounting challenges as it tries to maintain its ultra-loose monetary policy amid a weakening yen and rising global bond yields.
China Suffers Worst Capital Exodus Since 2016
China’s currency, the yuan, has come under pressure as capital is leaving the country at the fastest rate in over seven years, according to data from the Institute of International Finance.
Propelled by Economic Woes, “Argentina’s Trump” is Poised for Presidential Win
Argentina is bracing for a political earthquake as Javier Milei, a far-right libertarian economist and former rock musician, is poised to win the presidency in a runoff election on November 19.
LinkedIn Announces Second Round of Layoffs
The social network announced that it would eliminate 668 jobs as part of a restructuring effort to streamline its operations and improve its efficiency.
UK Expected to Avoid Recession, Says EY Item Club
The UK economy is on course to avoid a recession this year, despite the impact of the Bank of England’s interest rate hikes, according to a new forecast by the EY Item Club
Toshiba to Be Taken Private, Ending 74 Years of Stock Market History
Toshiba Corp is poised to end its 74-year history as a listed company after a majority of its shareholders agreed to a $13.5 billion buyout offer.
European Markets React To Latest Interest Rate Hikes
European stocks closed lower on Thursday, as investors digested the latest rate hikes by the U.S. Federal Reserve and the European Central Bank
UK House Prices Continue to Fall
The UK housing market is facing a prolonged slowdown as high interest rates, rising inflation and economic uncertainty deter potential buyers and force sellers to lower their asking prices.
Fed Unlikely to Raise Rates in November, Says Goldman Sachs
The Federal Reserve is unlikely to raise interest rates at its next meeting in November, according to a report by Goldman Sachs strategists published on Saturday.