Citi Predicts No Soft Landing, US In Recession In Middle Of 2024
The US economy is expected to enter a recession in the middle of 2024, according to Citi, ending the dream of a soft landing. Andrew Hollenhorst, the top US economist…
Rich Get Richer On Bloomberg Billionaires List.
According to Bloomberg’s top-500 billionaire list, which came out Wednesday, over the past year, the rich got even richer. Roughly 77% of the billionaires on the list enjoyed swelling fortunes…
Chanel Says Luxury Goods Sellers Will Find Difficult Times Ahead
Bruno Pavlovsky, the president of fashion for luxury goods maker Chanel, warned the coming year was shaping up to be quite challenging for the fashion and luxury goods industry, as…
New Report Finds Big Business Increasing Prices And Profits More Than Inflation Required
A new report from the IPPR and Common Wealth think tanks found that in 2022 big businesses increased inflation by passing on larger cost increases to consumers than they needed,…
JPMorgan – Americans Running Out Of Savings
In a note, Marko Kolanovic, a senior stock strategist at JPMorgan bank, said that most Americans have already spent the extra savings which they had accumulated during the Covid-19 pandemic.…
Guidewire Software Reports Fiscal Q1 Earnings
On Thursday, Guidewire Software Inc. (GWRE) reported a $27.1 million loss for its first fiscal quarter. The San Mateo, California based software company said it had a loss of 33…
Oil Continues To Fall, As Signs Of A Slowdown Point To Rate Cuts In 2024
Crude oil prices proved immune to fears over the conflict in the Middle East and the prospect of OPEC+ production cuts as they slumped to a five-month low overnight, while…
US Economy Grows 5.2 Percent In Third Quarter
On Wednesday, newly released government data showed that the US economy grew at a sizzling 5.2 percent, year over year in the third quarter. That was faster than the previous…
Americans Feel Poorer Under Biden
On Monday, the Financial Times reported that according to the latest monthly poll from the Global Strategy Group and North Star Opinion Research, a majority of US voters are dissatisfied…
Credit Card Debt Hits Historic High In The US
In a report this week, economists with the New York Federal Reserve bank said that over the July-September period this year, US credit card debt continued to surge, marking the…
