Germany Falls Into Recession
Germany has slipped into recession amid a decline in consumer spending after last year’s shock in energy prices.
Economic Forecast
Goldman Strategists See Potential Profit Boom From AI
Strategists at Goldman Sachs Group Inc. believe that artificial intelligence can become a solid foundation for long-term profit growth in the United States.
Argentina Inflation Reaches All-Time High
The annual inflation rate in Argentina surged more than analysts expected, remaining at the highest level since 1991 and marking a perilous milestone for this Latin American economy Argentina’s state-run INDEC statistics agency said that the inflation rose 108.8% year-on-year in April 2023, the third month in a row since the inflation growth surpassed 100% for […]
Janet Yellen Warns of US Cash Shortage Risk by June
US Treasury Secretary Janet Yellen said there is a risk that the US will run out of cash by June 1 if Congress does not decide to raise or suspend the debt ceiling.
Mobile Money Grows Faster Than Expected: Report
The number of registered mobile money accounts globally rose by 13% in 2022, while total mobile money transaction values grew to $1.26 trillion
Citizens Financial CEO Says Regional Banks Can Compete
Bruce Van Son, CEO of Citizens Financial Group, speaking on the Bloomberg Baystate Business Hour podcast, said that regional banks have the potential to fully compete with larger representatives of industry.
Main Street Merchant Recession Expectations Match Fed
Main Street is preparing for economic problems amid the consequences of the coronavirus pandemic and inflation.
Yellen Warns Banks Could Pull Back on Lending
The US Treasury Secretary reported on the high probability of a change in the approach of local financial institutions to lending in the direction of tightening.
IMF Lowers Forecast for Global Economic Growth After Banking Crises
The consequences of the coronavirus pandemic, which have not yet been fully overcome by the financial and industrial sectors, and the pressure factor in the form of banking crises have a negative impact on the prospects for economic growth.
World Bank Cuts 2023 Global Growth Estimates
The World Bank’s latest “Global Economic Prospects” report predicts 2023 global growth to slow to 1.7% from the 3% expected six months ago
US Banks to Report Profit Decline, Prepare for Recession
Major US banks are expected to show a net profit decline in their quarterly earnings reports to be released on Friday, while the industry is getting ready for an economic slowdown
European Governments to Increase Borrowing by 10% in 2023
Investors expect European countries to flood the market with new debt in 2023 as the governments will shield their economies from high energy costs
OECD Says Global Economy May Avoid Recession in 2023, More Interest Rate Hikes Needed
ECB should narrow the interest-rate gap with the US Fed, as inflation is unlikely to fall back quickly
Credit Card Payments in South Korea to Reach $900 Billion by 2026: GlobalData
Credit cards are the most preferred payment choice in South Korea, worth nearly 80% of total card payments value in 2022
Savings of US Consumers Slowly Shrink but They Can Still Fuel a Year of Healthy Spending
The pandemic-related relief helped US citizens build up a small nest egg – now the recession is wearing the savings out
IMF Chief Warns Fragmentation Will Hurt Global Economy
The IMF has cut 2023 forecasts and warned that possible fragmentation would damage growth both domestically and internationally
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