China can’t seem to shake off its post-COVID economic slump. Will that weakness backfire on the American economy? CNBC reported that the People’s Bank of China cut interest rates this week in an effort to spur economic growth, amidst a “confidence crisis” that has seen exports fall dramatically, factory production slow down, and housing sales…
HONG KONG — Local Chinese officials trying to encourage earlier marriages are offering an incentive that all newlywed couples can appreciate: cash. Couples who marry while the bride is 25 years old or younger will get a reward of 1,000 yuan ($137), officials in Changshan county, in the eastern province of Zhejiang, said last week…
The smartest insight and analysis, from all perspectives, rounded up from around the web: Amazon reminded investors last week that it’s no Big Tech afterthought, said Spencer Soper in Bloomberg. The retail giant “pulled off a financial double play this earnings season,” generating big earnings growth while cutting spending. The results sent shares soaring to…
Tech companies led multiple revolutions in what office work looks like in this century. Google was the most well-known company to turn its offices into a “campus” with the amenities of a large resort, from free lunch to recreation, all designed to keep employees happily toiling away at the office as long as possible. They were…
China can’t seem to shake off its post-COVID economic slump. Will that weakness backfire on the American economy? CNBC reported that the People’s Bank of China cut interest rates this week in an effort to spur economic growth, amidst a “confidence crisis” that has seen exports fall dramatically, factory production slow down, and housing sales…
The smartest insight and analysis, from all perspectives, rounded up from around the web: “The Federal Reserve keeps taking, but nonetheless, this economy keeps on giving,” said Mitchell Hartman in NPR’s Marketplace. “The standard metaphor” for when the central bank has to raise interest rates to slow an overheating economy is that it takes away…
America just saw its credit rating drop. The Associated Press reported that Fitch Ratings downgraded the U.S. debt rating from AAA to AA. That was “a move that spurred debate in Washington about spending and tax policies.” Fitch said the government’s rising debt burden and the country’s increasingly ugly political fights — including factors like…
Fitch Ratings, one of the three major independent credit rating agencies, downgraded the long-term U.S.credit rating from AAA, the highest tier, to AA+ on Tuesday evening. This is only the second credit downgrade in U.S. history, following a cut by S&P Global Ratings in 2011 amid a fight between House Republicans and President Barack Obama…
A recession impacts the middle and lower classes more than the wealthy. But during a “richcession,” it’s the “well-heeled who take a bigger hit than usual,” according to The Wall Street Journal’s Justin Lahar, who coined the term. At the beginning of the year, experts warned of a richcession, claiming that industries such as the luxury goods…
China’s heavily indebted property developer Evergrande on Thursday filed for Chapter 15 bankruptcy protection in a U.S. court. In a filing to the Manhattan bankruptcy court, the firm sought recognition of restructuring talks underway in Hong Kong, the Cayman Islands and the British Virgin Islands. CNBC has reached out to Evergrande for comment but did…