Interest-Only Mortgages Shrink in UK: Report and Forecast
UK Finance observed a further reduction in the size and risk profile of the interest-only mortgage book in 2022, as customers continued to repay their loans on or ahead of schedule
Economic Forecast - page 6
McKinsey Reveals How Much Work Activity AI Will Replace
The answer to whether generative AI will take your place at work can be found in the new McKinsey study
Experts Say ChatGPT to Fuel $1.3 Trillion AI Market by 2032
The release of generative artificial intelligence systems that are focused on solving problems, and satisfying various groups of consumer needs, for example, ChatGPT from OpenAI and Bard from Google will ensure a high level of development of the generative AI market over the next decade and will bring its financial volume to $1.3 trillion by […]
US Passes Bill to Avoid Default: What to Expect?
The US House finalized a bill to suspend the debt ceiling on Wednesday, just days left before the country was expected to default. What comes next for the national debt and financial markets?
Germany Falls Into Recession
Germany has slipped into recession amid a decline in consumer spending after last year’s shock in energy prices.
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
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