U.S. households increased their spending in October

U.S. consumers increased their spending in October, which helped bolster the broader economic recovery as companies increased investment and the number of unemployed fell to historic lows in a tight labor market. Household consumption rose 1.3% in October from a month earlier, while personal income rose 0.5% last month, the Ministry of Commerce said on … Read more

US unemployment claims reach 52-year low

Weekly unemployment applications fell sharply to their lowest level in 52 years, reflecting the tightening of the labor market as the economy recovers from the effects of the pandemic. Workers’ applications for initial unemployment benefits, a proxy for layoffs, fell from 71,000 to 199,000 last week, the lowest level since November 1969, the Ministry of … Read more

Germany’s Olaf Scholz on his way to succeed Angela Merkel as chancellor

BERLIN-Germany’s Olaf Scholz is set to succeed Angela Merkel as chancellor after the winners of the September election reached a political agreement focusing on revising the country’s economy, investing in infrastructure and fighting climate change, said people involved in the negotiations. According to the political program – which Mr Scholz’s center-left Social Democrats, the environmentalists … Read more

Jamie Dimon says he regrets the joke about JPMorgan outlasting China’s Communist Party

JPMorgan Chase & Co. CEO Jamie Dimon on Tuesday made a direct remark about the US banking giant’s ability to survive China’s Communist Party, a few days after he made a whirlwind trip to the Chinese financial center in Hong Kong due to a state travel exemption. “I was just in Hong Kong and I … Read more

Massive hack gave police a window into cocaine, cash and killers

BRUSSELS — The gangsters who planned to assassinate a judge thought they left nothing to chance. But the police hundreds of miles away were on them thanks to a stakeout with a modern twist. Using supposedly impregnable encrypted phones, the Serbian assassins discussed earlier this year how wind direction and distance could affect the sniper’s … Read more

Turkish lira falls after Erdogan defends interest rate cuts

Turkey’s economic crisis entered a tumultuous new phase, with its currency falling to a new record low, and President Recep Tayyip Erdogan preparing to meet the leader of a regional rival in the pursuit of foreign investment. The lira fell as much as 12% on Tuesday, threatening to shake the economy further by undermining confidence, … Read more

Chile’s presidential election shows voters’ support for market economy

SANTIAGO, Chile – After years of protests and political upheavals that seemed to shift Chile’s policies sharply to the left, voters in the first round of a presidential election largely supported candidates who support the country’s free market economy, boosting the local economy. markets on Monday. More than half of the ballots in Sunday’s vote … Read more

Samsung chooses Taylor, Texas, for $ 17 billion Chip-Making Factory

Samsung Electronics Co. plans to build a $ 17 billion chip plant in Taylor, Texas, according to people familiar with the matter, a mega-investment from the South Korean technology giant as the Biden administration pushes for an expansion of U.S. semiconductor production. A message may come as early as Tuesday, people with knowledge of the … Read more

Jerome Powell is facing a completely different economy in a different period

During his first term in office, Jerome Powell undoubtedly became the most dove-like president in the modern history of the Federal Reserve, prioritizing full employment in an era when inflation seemed extinct. In his second term, he may have to do the opposite: Prioritize inflation at the risk of sacrificing jobs. The focal point can … Read more

Biden will press Jerome Powell for a new term as Fed chairman

President Biden is set to nominate Federal Reserve Chairman Jerome Powell for another term as head of the central bank, the White House said on Monday, choosing continuity in U.S. economic policy despite setbacks by some Democrats who wanted someone tougher on account of bank regulations and climate change. Mr. Biden will also nominate Fed … Read more