Economy

Equity Week Ahead: The Market Misread the Federal Reserve

“We loaded up these very large rate increases, and now we’re getting closer to where we need to be,” Fed Chairman Jerome Powell told reporters. Of course, Powell said, another “unusually large” raise could also be on the table. But Wall Street looked beyond that. What came next: Investors applauded Powell’s apparent pivot. The S&P …

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China’s Export Sector Posts Higher Than Expected July Numbers | China

China’s export industries performed strongly last month after spending the first half of the year hampered by shortages of raw materials and pandemic-related closures at major ports. Providing an encouraging boost to the economy, outbound shipments rose 18% in July from a year earlier, the fastest pace this year, official Customs data showed on Sunday, …

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Talking about money is the last taboo in the face of the rising cost of living

Matthew Riley with his sons Kendryk, left, 4, and Koltyn, 6, in Abbotsford, B.C., on July 26.DARRYL DYCK/The Globe and Mail After-school activities were off the table for Matthew Riley and his three young boys this summer, except for a free pass to the local swimming pool. Soaring daily living costs amid inflation have been …

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The recovery could end if US CPI data confirms a 75 basis point Fed hike

Gold closed the third consecutive week in positive territory. $1,780 is the key technical level for XAU/USD. July inflation data from the US could trigger a strong reaction next week. Gold started August on solid footing and climbed towards $1,800 before erasing some of its weekly gains on Friday. The sharp drop in US Treasury …

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Bankrupt Crypto Firm Voyager Digital Approved To Release $270 Million In Cash Deposits

Voyager Digital, now defunct and bankrupt, was authorized by the court to distribute $270 million in funds to affected creditors and customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements alleging that Voyager is FDIC insured. The US Bankruptcy Court in New York …

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Cost of living crisis: four things the government could do to help | UK cost of living crisis

The cost of living crisis affecting millions of households is about to get worse. Gas is the foundation of electricity generation in the UK, directly powering millions of homes and accounting for around 45% of electricity supply. Its price has skyrocketed, up 400% in the last year and 1,000% since 2019, according to the ICE …

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China’s exports are accelerating even if the outlook remains uncertain

China’s July exports rise at a faster pace than expected Imports disappoint again, highlighting weak domestic demand The trade balance hit a record high in July Weak foreign demand adds stress to trade and economic outlook BEIJING, Aug 7 (Reuters) – China’s export growth unexpectedly accelerated in July, providing an encouraging boost to the economy …

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Why founders are closing their companies instead of filing for bankruptcy

Chapter 11 of Celsius is rare in a startup world where companies are quietly dying. Startups typically burn cash rather than rack up long-term debt or an army of creditors. They tend to favor private, out-of-court liquidations to avoid scrutiny, lawyers told Insider. When Celsius filed for Chapter 11 in July, it admitted in Manhattan …

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