economic

Peter Schiff warns US job numbers are up only because Americans are ‘forced to take 2 or 3 jobs’ — rubbishes Biden economic wins as ‘lipstick on a pig’ and claims Fed has lost inflation fight

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Peter Schiff warns US job numbers are up only because Americans are ‘forced to take 2 or 3 jobs’ — rubbishes Biden economic wins as ‘lipstick on a pig’ and claims Fed has lost inflation fight The U.S. economy added 353,000 jobs in January 2024, significantly outperforming economists’ expectations. But according to Peter Schiff, CEO … Read more

Economic boost from Swift’s Eras Tour could be overstated

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Taylor Swift performs onstage at Lumen Field in Seattle on July 22, 2023. Mat Hayward/tas23 | Getty Images Entertainment | Getty Images The devil’s in the details, but local economies have a friend in Taylor Swift. The American pop star has spent nearly a year crossing the U.S. and the globe with her high-flying Eras … Read more

Mortgage rates back over 7%, as stronger economic data rolls in

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This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of … Read more

Europe’s economic pain drags on with zero growth at the end of last year

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FRANKFURT, Germany — Europe’s economy failed to expand at the end of 2023, dragging out the stagnation for more than a year amid higher energy prices, costlier credit and a downturn in former powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1% contraction in the three months before that, … Read more

Blinken begins Africa tour in Cape Verde, touting the U.S. as a key security and economic partner

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ABUJA, Nigeria — U.S. Secretary of State Antony Blinken began a tour of four African countries on Monday, meeting with the leaders of Cape Verde and Ivory Coast and touting America as the continent’s key economic and security ally at times of regional and international crises. Blinken is visiting Nigeria and Angola next. The tour … Read more

Top Citi strategist says healthier economic growth is coming

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Jim Dyson | Getty Images News | Getty Images The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases … Read more

India goes big to woo investors at World Economic Forum

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India’s position on the global value chain is shifting due to government incentives and a digitally savvy economy Getty Premiums DAVOS, Switzerland — Along the Davos Promenade, attendees of the World Economic Forum stumble across the WeLead Lounge, a repurposed storefront showcasing India’s female leadership and talent. There’s also the India Engagement Center, a space … Read more

Crisis-ridden Sri Lanka’s economic reforms are yielding results, but challenges remain, IMF says

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COLOMBO, Sri Lanka — Debt-stricken Sri Lanka’s economic reform program is yielding the first signs of recovery, but the improvements still need to translate into improved living conditions for its people, the International Monetary Fund said Friday. Sri Lanka has been struggling with an economic crisis since declaring bankruptcy in April 2022 with more than … Read more

Israel’s president and the OpenAI CEO will take part in Davos on Day 3 of the World Economic Forum

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DAVOS, Switzerland — Israel’s president and the head of ChatGPT company OpenAI will make appearances at the World Economic Forum on Thursday, the third day of the annual gathering of elites at the Swiss resort of Davos that discusses everything from conflict to computers and climate. Israeli President Isaac Herzog could seek to return focus … Read more

Oxfam releases inequality report as World Economic Forum in Davos starts

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Comment on this storyCommentAdd to your saved storiesSave The world could have its first trillionaire within 10 years if current inequality trends continue, antipoverty group Oxfam International said in a report published Monday, reflecting the increasing gap between the world’s wealthy and poor. The report, titled “Inequality Inc.,” was released the same day as the … Read more