Yifei

This paper explores the consequences of the U.S. government's ownership of land and its mismanagement, pointing out that the current federal forests are in crisis, mainly due to the environmental movement and mismanagement policies, resulting in frequent forest fires and the failure to effectively restore biodiversity.

It is proposed to improve management by transferring federal lands to private owners while simultaneously reducing the burden of the national debt.

Selina.xu

The figure, which adds up the economic impact of more than 55,oo0 gigs,concerts, festivals and events, is 17% up on 2022 and 35% up on pre-

pandemic 2019.

The e6.1bn is derived not only from direct ticket sales but also from spendingat an event and at businesses nearby that benefited in the time period aroundthe date it was held.

The growth in the sector last year was fuelled largely by concert revenues.which climbed 19% year on year, driven by big tours such as those byBeyoncé and Coldplay, which accounted for almost three-quarters of the total f6.1bn economic impact.

Figures from the National Arenas Association showing that for every10,000 people who attend a live music show, flm is spent with businesses around the venue, such as restaurants and bars, transport providers, retailers, independent shops and hotels.

“These local benefits spread widely to provide a significant boost to the UK economy, Collins said.

Live's figures show that London dominated the live music scene, accountingfor almost 31% ofthe total f6.1bn economic impact revenues. The capital wasfollowed by Manchester at 7.4% and Glasgow at 5.5%, with Birmingham,Edinburgh, Cardiff, Belfast, Leeds, Sheffeld and Liverpool making up therest of the top 10.

The report also estimated that the live music industry supported jobs foralmost 23o,ooo people last year, an increase ofg.4% since 2019.

A large-scale hotel workers' strike has recently erupted in the United States, involving several major hotel chains. Workers are demanding higher wages, improved working conditions. This strike has spread across nine cities nationwide, with approximately 10,000 participants. workers are protesting that, despite record profits in the hotel industry, their wages have not seen substantial growth. As the strike expands, unions may extend the strike to more cities and hotels, marking a tense labor-management relationship in the hotel industry.

Selina.xu

Rachel.miao

Rachel.miao

“That’s a very positive trend, that’s a big output,” he said, but over the same period, income increased by only 53 per cent. That‘s to say, workers' income didn't increase as they could have done.

“In East Asia (up 4.3 per cent), the Arab States (up one per cent) and South-East Asia and the Pacific (up one per cent), youth unemployment rates have continued to rise,” said Sara Elder, ILO Head of Employment Analyses and Public Policies.

The recover of economics does not take place in all around the world. The Asia probably haven't reached a grow in economy.

The UN agency also cites estimates that the digital sector is accountable for 1.5 to 3.2 per cent of global greenhouse emissions, similar to that of air transportation and shipping.

In this case, we can associate with PED. when the price elasticity for tickets is relatively low, meaning that consumers are not very sensitive to price increases. Even as prices rise, demand does not significantly decrease, and fans are still willing to pay high prices to watch the event. Therefore, the surge in ticket prices does not dampen demand but instead reflects the consumers' willingness to pay a premium for scarce tickets.

Rachel.miao

FDA loosened the protocol to save resources and created the "voluntary notification" system. It allowed companies themselves to declare substances GRAS – Generally Recognized as Safe, without requiring them to tell the agency of the determination. 

This ultra-processed food contains an enormous amount of sugar, salt, food colouring ,etc. As a result, a condition of 1 in 5 American kids faces an increased risk of Type 2 diabetes, chronic kidney disease and cardiovascular disease.  

This had also caused a fifteen-year-old girl to get diagnosed with prediabetes when she was only 13. 

Ultra-processed food has consumed the nation's food supply with its low cost of production, low price and high convenience. These foods now comprise over half of an average American adult's diet and two-thirds of an American children. The food companies have now monopolised the nation's supply chain and are posing great danger on consumer's health. This will eventually lead to a terrifying and horrendous consequence on the country.  

Writing for the Observer online, Reynolds welcomes the UK’s imminent entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a “real win” for British exporters.

His comments are further confirmation that Keir Starmer’s government will not seek to rejoin the EU or its economic structures. If Britain were to rejoin the EU, it would have to leave the Trans-Pacific Partnership, since having separate free trade agreements is incompatible with being a member of Europe’s single market and customs union.

The CPTPP is a free trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Under the Tory government, Britain signed an agreement to join the CPTPP in July 2023, and the accession process is nearing completion. The bloc will have a combined GDP of more than £12tn including Britain.

Despite Reynolds’ enthusiasm for the CPTPP, economists say Britain’s entry will have little short- or medium-term effect on the UK’s trade or GDP, and certainly won’t compensate for its exit from the EU, the single market and the customs union.

Last year, as the Tories presented entry into the Trans-Pacific Partnership as a cornerstone of post-Brexit “global Britain”, the Office for Budget Responsibility said it would add just 0.04% to GDP in the “long run”, which it defined as 15 years of membership.

The spending watchdog also said that two separate bilateral deals between Britain and Australia and New Zealand, also hailed as landmark trade agreements following Brexit, “might increase the level of real GDP by a combined 0.1% by 2035”.

In his article, Reynolds makes clear that Labour would also be pushing for closer ties with the EU, outside its formal economic and trading structures.

“The EU is not just our closest trading partner, it’s still our largest trading partner by quite some margin,” he writes.

“Yet, we know that thousands of British businesses have stopped exporting to Europe altogether. It’s no secret as to why. The last government’s adversarial approach to working with the EU resulted in UK firms being buried in bureaucracy. We’re changing course – working towards negotiating the removal of unnecessary border checks while securing mutual recognition for professional qualifications so British businesses can more easily operate in France, Germany, Italy and beyond.

“At the same time, we’re pursuing high-quality, barrier-removing trade deals with partners around the world, including the Gulf Cooperation Council (GCC) and India. A deal with the GCC alone could increase bilateral trade by 16%, generating an additional £1.6bn for our economy in the long run.”

Unemployment unexpectedly dropped to 4.2% from 4.4% in the three months to June from the previous three months, according to data from the Office for National Statistics (ONS) released on Tuesday.

Wage growth, excluding bonuses, was 5.4% year on year over the three months to June, slipping from 5.7% in the previous three months. The drop represented the smallest increase since July 2022, when it was 5.2%, but was well above the 4.6% increase that City economists had expected.

Adjusted for inflation, wages rose by 1.6%, meaning many workers will experience a continued improvement in their standard of living. Vacancies also fell, giving a further indication that the jobs market is returning closer to pre-pandemic levels of activity.

Analysts were divided about how the figures would influence the Bank of England’s decision on interest rates when policymakers meet next month.

The National Institute of Economic and Social Research said wages growth, despite a fall, could push inflation higher, forcing the central bank to maintain interest rates at a high level for a longer period.

“The persistence of strong wage growth raises concerns about stickier inflation, which may prompt the Bank of England to remain cautious about further interest rate cuts,” it said.

Capital Economics, a consultancy, said the downward path of wages growth was enough to keep the Bank on track to make two further quarter-point cuts in interest rates this year from 5% to 4.5%.

Currency traders reacted positively to the figures and the pound gained more than half a cent against the dollar, or 0.43%, on Tuesday to reach $1.2809, the highest since 5 August.

Sandra Horsfield, a senior financial markets analyst at Investec, said traders had reacted to the small drop in wages growth, a 51,000 drop in unemployment and an increase in employment of 97,000 over the previous quarter as signs that the economy remained robust and the next cut in interest rates would come much later in the year.

“All things considered, we think the [Bank] will take its time to see a weakening pay trend confirmed in later releases and only agree on a next rate cut in November,” she said.

Growth in total pay including bonuses fell from 5.7% to a much lower level of 4.5%, after business surveys showed employers in many sectors were proving reluctant to hire staff. However, the data is distorted by one-off bonus payments made to NHS staff in June 2023.

Inactivity remained high at 9.41 million, or 22.2% of the working-age population – up 350,000 from 2023 – as people reported they were unable to work because of ill health.

Julia Turney, a partner at the consultancy Barnett Waddingham, said: “The workforce we are dealing with today is older, increasingly remote and more in touch with mental health challenges than ever before.

Wages growth in the finance and business services industry outpaced other sectors with an annual improvement of 6.2%.

The ONS said: “The construction sector saw the smallest annual regular pay growth across sectors, at 3.5%. In April to June 2024, the manufacturing sector saw the largest increase in pay, including bonuses at 6.7%.”

These are all due to persistent labour imbalances that jeopardize social justice. Some countries and economic sectors experience labour and skills shortages, while in others, there is a scarcity of decent jobs.  

Sustainable investments in productivity and skills development, worker mobility, labour market access, better working conditions and pay could help address these challenges and tackle all these problems that have arisen.

this news shows the state of American stocks，the data shows downward trend in the stock of American companies. For example, NIVIDIA ,APPLE ,GOOGLE ,the three major tech stock fell the most. In particular NIVIDIA stock experience the biggest loss. It can prove the American economy may be in trouble and obviously American nation demand for tech stocks is lower than the supply of tech stocks. The state of the country and investor sentiment can be well reflected in stock data

this news is about a series of national policy changes on e-cigarettes, which are regulated in many countries. Since e-cigarettes are demerit goods, these changes are all aimed at reducing the sales of e-cigarettes. In addition to raising taxes, the national policy also adopts a limited e-cigarette permits to be distributed by the state to various companies, reducing supply from supply also suppresses demand by raising prices through higher taxes

this news is about the higher unemployment rate in nowadays, Not only financial companies, science and technology companies, but also consumer enterprises have announced layoff plans. For unemployed employees, their living standards will be greatly reduced because they have lost the source of wages. In addition, enterprises also lay off employees because they do not need a large number of employees to produce output, so they reduce costs through layoff, which also proves that the social situation is that demand is smaller than supply. Companies do not need large numbers of employees to produce

"China is moving back on to the front foot in terms of overseas deployment of capital in the emerging markets," said Tellimer's Hasnain Malik, while adding it was not yet at pre-COVID levels.

China has also sought to use FOCAC to counter growing competition in Africa from the United States, the European Union, Japan and others.

In Beijing, diplomats and delegates from around the world mingled in the Great Hall of the People in Tiananmen Square as leaders from more than 50 African countries and Chinese officials led by Xi gathered for a group photo.

The new financial pledge is more than what Beijing promised at the last FOCAC in 2021, but below the $60 billion of 2015 and 2018, which marked the peak of lending to Africa under the Belt and Road Initiative.

During those peak years, Beijing bankrolled the construction of roads, railways and bridges. But a drying up of funds since 2019 has left Africa with stalled construction projects.

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The new funds will go towards 30 infrastructure projects to improve trade links, China said, without giving details.

The 54-nation continent of more than 1 billion people has an annual infrastructure funding deficit estimated at $100 billion, and needs transport links to make a new giant pan-African trade bloc (AfCFTA) a reality.

Beijing has in recent years cut funding for such projects as it shifted focus to "small and beautiful" projects, mainly due to its own domestic economic pressures and an increase in debt risks among African countries.

Asked how the new commitments fit into China's current cautious overseas lending strategy, a foreign ministry spokesperson said there was no contradiction.

"The cooperation between China and African countries, including the specific implementation of projects, is discussed and determined by both sides," Mao Ning, a foreign ministry spokesperson told a regular news conference on Friday.

CURRENCY SWAPS

China also said it will launch 30 clean energy projects in Africa, offer co-operation on nuclear technology and tackle a power deficit that has delayed industrialisation efforts.

"The outcomes of the FOCAC summit signal an impetus for green projects and especially for renewable energy installations," said Goolam Ballim, head of research at South Africa's Standard Bank.

China has become a global leader in wind and solar energy, Ballim said, controlling significant supply chains and reducing production costs.

We had an eventful August, with weak July job growth reported, unemployment rising to its highest level in three years and manufacturing showing a contraction for a fourth straight month. There were also global factors like the Bank of Japan raising interest rates while other central banks were cutting or planning to cut rates. This combination of developments led to a major selloff in the stock market and fears that a long-awaited recession had arrived. 

Weekly jobless claims stabilized, inflation came in close to expectations and remained on its downward path, sales in the service sector bounced back and retail sales rose, exceeding expectations and showing consumers are still spending. Concerns are now focused on the direction of the labor market and the possibility of a job market slowdown, but a recession is far less likely. 

The Bureau of Labor Statistics said in late August that the economy had created 818,000 fewer jobs than originally reported during the 12 months ending in March. That left the average monthly gain at about 174,000 jobs rather than 242,000. While the revision was looking backward, it added evidence that the job market has been steadily slowing and reinforced the need for the Federal Reserve to ease its restrictive monetary policy by lowering interest rates. 

Perhaps the keynote event in August was Fed Chairman Jerome Powell definitively stating that “the time has come” for lower rates. While he said “the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks,” a reduction is widely expected to happen when the Fed meets on interest rates this month. All things considered, it is the Fed’s desire to achieve a balance in the economy as inflation comes down, and cuts will now hinge more on what is happening in the labor market than on inflation data. A further cooling in the labor market is not welcome. 

The U.S. economy added 142,000 jobs in August, and while that was lower than expected, the unemployment rate fell to 4.2 percent from 4.3 percent, showing that the job market is not collapsing. Although the slowdown in economic growth has been affected by interest rates as high as 23 years, the resilience of the overall labor market remains, and the increase in unemployment is considered a "red herring" caused by short-term factors. Overall, some experts said the economy, while changing, did not warrant a sharp cut in interest rates.

Selina.xu

26% of American homeowners say they are not financially prepared when faced with extreme weather events. Although most homeowners have insurance, only 39 percent have reviewed their insurance policies to ensure adequate coverage, while 15 percent report needing to take on debt to pay the deductible for their insurance. To prepare for changing weather extremes, homeowners should regularly review their insurance coverage and take appropriate protective measures.

Selina.xu

Yifei

Yifei

Yifei

Audrey

The European Central Bank (ECB) has cut interest rates again, reflecting slowing inflation and a weak economic recovery. The decision cut the benchmark interest rate for the 20 countries that use the euro from 3.75 percent to 3.5 percent. While inflation fell to a three-year low of 2.2 percent, the outlook for economic growth was revised down to 0.8 percent, reflecting weakness in private consumption and investment, deepening concerns about the economic outlook.

Selina.xu

Rachel.miao

Rachel.miao

Skyler

Audrey

Skyler

If people aren’t getting at least a penny a point when they’re using their miles, they would most likely be better off using a cash back card.

This is perhaps one of the marketing and bank strategies of convincing miles cardholders to use miles instead of the regular bank cards when they purchase the flight tickets. The points rewarding system implemented works as a pull factor to customers, with the accumulative points as rewards in the form of cash back deduction for their next purchase.

However, is it really worthy? Or does regular bank card

like credit card provide better benefits?

“travel and tourism is not only back on track, but also set to achieve unprecedented growth,” says WTTC CEO Julia Simpson. And tourism will continue to be a big driver for global economies.

China is the No. 2 market worldwide, with a $1.3 trillion contribution to its GDP, followed by Germany, Japan and the United Kingdom.

France, the world’s most popular destination in terms of actual visitor numbers, is in sixth place for 2023, but those numbers might jump for 2024 thanks to the Paris Olympics.

To conclude the above statistics provided, the most important economic feature of activities related to the tourism sector is that they contribute to three high-priority goals of developing countries: the generation of income, employment, and foreign-exchange earnings.

Additionally, it creates jobs, strengthens the local economy, contributes to local infrastructure development and can help to conserve the natural environment and cultural assets and traditions, and to reduce poverty and inequality.

The Goals were adopted by UN Member States in 2015, which means that in 2023 the halfway point was reached. The milestone was marked at last September’s SDG Summit, which was designed to give the Goals a much-needed shot in the arm, at a time when official UN statistics showed that only 15 per cent of the Goals had been met.（EVA）

Dima al-Khatib: Nowadays the countries of the South are grappling with a multitude of complex development issues. These were exacerbated, of course, in the recent years by the pandemic and its aftermath.  

Countries are also grappling with the implications of the multiple crises that are happening in the world today, whether they be geopolitical, food-related, education-related or economic. It is quite a complex development context.   

It’s a context where the development issues at hand require collaboration among countries. 

When we talk about climate, for instance, we don't talk about one country. Climate, water management, natural disasters know no geographic boundaries. Peace and development is also something that has a spill over. 

So, if countries do not cooperate with each other in order to be able to address and mitigate and adapt to those different complexities, it is a lost opportunity. （EVA）

The 2023 SAN Antonio Mission National Historic Park attracted 1.2 million visitors, an event that generated an estimated $95 million in revenue for the local economy and $150 million in local economic impact. National parks are vital to the preservation of cultural heritage and historic resources, and support the local economy with 1,480 jobs and positive economic support.

Selina.xu

more people can afford to buy houses.

With the knowledge that mortgage price is cheaper, selfish sellers will start raising their price for home sales.

Therefore, the total purchasing power of buyers will decrease due to the affordability of house units.

Russia and China are riding a surge of support for the Palestinians since the Gaza war started

THE RUSSIANS are not the bad guys any more. Now it’s the Americans.” Thus, explains a European diplomat at the UN, the war in Gaza is eclipsing the one in Ukraine. These days many countries are wary of criticising Russia’s aggression. Instead their outrage is directed at Israel and, increasingly, at America for arming and protecting the Jewish state. The accusation of Western double standards, gleefully amplified by Russia and China, resonated across the halls of UN headquarters on September 18th as the General Assembly adopted a far-reaching resolution to exert pressure on Israel to end its occupation of Palestinian territories within a year. It passed with an overwhelming 124 votes in favour to 14 against (and 43 abstentions).

Rachel

Rachel

An interesting aspect of Prof Saayman’s research is the focus on the informal tourism sector, which includes arts and crafts vendors, many of whom were hit hard by the pandemic. "These entrepreneurs have shown resilience, but the slow recovery in tourism is affecting their ability to make a living," she explains.Events are much more than mere gatherings – they are economic engines that drive tourism, boost local economies, and foster social cohesion.

Roxanne

The Bureau of Labor Statistics reported Friday that the U.S. added 114,000 jobs, down from 206,000 in June and well short of expectations. Economists were expecting the unemployment rate to have been unchanged from June's 4.1% reading.Meanwhile, wage gains continued to outpace inflation — continuing a trend that has now taken hold for months — and more people rejoined the workforce last month, something reflected in an increased labor force participation rate.

Yet outside of health care, construction and some transportation and warehousing roles, there was little meaningful job growth, with manufacturing adding just 1,000 to its payrolls and professional and business services positions declining by 1,000.

Roxanne

Expectations that the world's second-largest economy would stage a strong post-COVID bounce quickly fizzled as the year progressed, with weak consumer and business confidence, mounting local government debts and slowing global growth sharply weighing on jobs, activity and investment.Gross domestic product (GDP) grew 5.2% in October-December from a year earlier, data from the National Bureau of Statistics (NBS) data showed, quickening from 4.9% in the third quarter but missing a 5.3% forecast in a Reuters poll.

On a quarter-by-quarter basis, however, GDP grew 1.0%, slowing from a revised 1.5% gain in the previous quarter.

Roxanne

Excluding food and gas prices, "core" price growth was flat at 3.9% compared with December.

Yet while price growth continued to drift downward last month, the January data missed expectations for a more robust slowdown: Ahead of the report, economists surveyed were expecting a reading of 2.9%. They also expected a lower reading for the "core" reading, at 3.7%.

"The final mile towards the Fed’s 2% target was always going to be slow, erratic, and frustrating," wrote Seema Shah, chief global strategist at Principal Asset Management, in a note to clients following the report's release. "Today’s data is not what markets or the Fed would have liked to see, but it’s important not to overreact and jump to the assumption that an inflationary resurgence is developing."

Roxanne

A decline in interest rates should, theoretically, mean good news for the stock market. Lower borrowing costs free up cash for companies to reinvest in themselves and return to shareholders. But it also has broader implications about the state of the economy and where it could be headed. The Fed likely won’t take rates lower as aggressively as they were raised, unless the economy takes a downturn and necessitates loose economic conditions.

Plus, it takes time for cuts to take hold on the economy. While mortgage rates and bond yields have begun drifting lower, companies and consumers still might not feel the effects of lower rates right away.

Audrey

This dissatisfaction could hinder consumer spending, slowing economic growth as workers may cut back on expenditures. Additionally, an increasing number of employees expect to work past retirement age, indicating financial insecurity and potentially worsening income inequality. Businesses may also face rising labor costs in their efforts to attract and retain talent, which could further contribute to inflationary pressures in the economy.

Audrey

The Bank of England said Thursday it would keep interest rates on hold following an initial cut in August, the Monetary Policy Committee voted 8-1 to keep rates on hold, dissenting members voted to cut them again by 0.25 percentage points The Bank of England's balance sheet has ballooned during the pandemic as it tries to boost the economy. Because consumers don't save when interest rates are low, they spend but then it changes direction and starts quantitative tightening in February 2022

Skyler

Yifei

Spot gold was up 0.3% at $2,593.80 per ounce, while U.S. gold futures rose 1.2% to $2,646.30.

Yifei

The report from Bank of America highlights the significant economic contributions of Latinas to the U.S. economy, with a contribution of $1.3 trillion to the GDP in 2021, a dramatic increase from $661 billion in 201. This surge represents a real GDP growth rate of 51.1%, outpacing the economic impact of non-Hispanic populations.

Selina.xu

Trump spoke Monday at an event highlighting his vow to protect rural Americans from the perceived predatory power of China, at which he also showed that when he tries to focus, he can assemble effective, populist economic arguments that help explain his dominance in polls on the most important issue in the election.

But Trump’s prediction about mass bankruptcies in the agricultural sector also echoed a familiar refrain — one that is the foundation of his pessimistic political creed. The ex-president adapts this construct to almost any audience as he evokes a vision of a nation wracked by crime, economic blight and an immigrant invasion.

The House Rules Committee stripped the government spending bill from consideration Monday night, forcing House GOP leadership to tee up the spending bill under a procedure known as suspension of the rules, which requires a two-thirds majority vote to pass.

Relying on Democrats to overcome their narrow, divided majority and keep the government open has been a regular occurrence for Republicans this Congress, and was the exact maneuver that got former House Speaker Kevin McCarthy ousted from his job. Republicans have long known they’d need to rely on Democrats to pass the shutdown-averting measure this time around, but with Democratic votes now likely to vastly outnumber the GOP supporters, House Speaker Mike Johnson finds himself in a risky position with his conference

The Fed on Wednesday lowered interest rates, marking the first rate cut since March 2020. That comes after the central bank aggressively raised rates to a 23-year high to tamp down wayward inflation spurred by near-zero borrowing levels during the Covid pandemic.

A decline in interest rates should, theoretically, mean good news for the stock market. Lower borrowing costs free up cash for companies to reinvest in themselves and return to shareholders. But it also has broader implications about the state of the economy and where it could be headed.

Lawyers for X informed Brazil’s Supreme Court on Friday that it had named legal representation, according to Reuters, a key requirement for reinstating the social media platform in the major market. A day later, the court gave X an additional five days to file paperwork formalizing that representation.

X has remained offline in Brazil for most of September, aside from a brief and inadvertent few hours last week, showing users a message that said: “Posts aren’t loading right now.”

Tesla (TSLA) reported adjusted earnings of $3.1 billion, or 91 cents a share, up 20% from the second quarter last year. Analysts surveyed by Refinitiv had forecast earnings of 82 cents a share.

Its profit margin of 18.2% was also better than expected, although profit margins were still smaller than they were last year due to the series of price cuts the company announced since earlier this year. A year ago, Tesla’s margin was 25%, and even reported a 19.3% profit margin in the first quarter, when it first started to put the price cuts in place. But the forecast was that the continued price cuts would drop the profit margin under 17% in the most recent quarter.

Automotive revenue was up 47%, excluding revenue from the sale of regulatory credits. But that was far less than the 83% jump in the number of vehicles sold, a sign that Tesla continues to drive greater demand for its cars though lower prices.

Rachel

Rachel

To be sure, rallies in silver also tend to reflect optimism that the economy will reaccelerate, since it’s a material used in construction of infrastructure and products like electronics, jewelry and flatware. What's more, new moves from China to revive its economy also has the potential to lift precious metals, said Rhind. China’s central bank on Tuesday revealed a package of measures that includes cutting its benchmark lending rate and reducing the amount of cash that banks need to hold in reserve, which would free up money for lending.

Rachel

“Our strategies are working and projected inflation is declining,” Postmaster General Louis DeJoy said in a statement. “Therefore, we will wait until at least July before proposing any increases for market-dominant services.” The reason that leads to this case may be the smaller Demond for the Postal Service’s business. So the number of individual letters sent each year has fallen by about half in the past decade.

Rachel

Stronger efforts to contain government spending and raise more revenue were key to stabilising debt burdens, it argued.

Many wealthy countries are facing ageing populations, the challenges of climate change, and geopolitical pressure to raise defence spending.

That is all in the wake of the financial crisis 16 years ago and more recently the Covid pandemic, which increased government borrowing and built up higher levels of debt.

However, not all economists agree that bringing debt down should be the policy priority. Some would like to see borrowing rise for a time, which they argue would boost growth and reduce debt over the longer term.

July recorded a 13.1% YoY growth.

The value of exports rose 6.4% YoY to $381.3b in August, easing from the 13.1% YoY growth in July.

Principal commodity divisions which registered increases in export value include  "office machines and automatic data processing machines" ( $14.4b or +43.5%) and "electrical machinery, apparatus and appliances, and electrical parts thereof" ($13.0b or +7.5%).

Data from the Census & Statistics Department (C&SD) also showed that total exports to Asia grew by 9.9% YoY.

Outside Asia, particularly in  Switzerland (-62.0%) and the United Kingdom (-46.2%), the value of total exports declined.

The value of imports of goods likewise increased in August, rising by 7.9% YoY to $414.4b.

With the uptick in exports and imports, the trade deficit clocked in at $33.1b or 8.0% of the value of imports.

The government believes Hong Kong’s export performance will stay positive "if external demand holds up."

Audrey

Skyler

Skyler

The retreat in the unemployment rate partly reverses an upward trend seen during much of the past year.

However, while the unemployment rate has marched higher, it hasn’t been entirely due to negative reasons, economists have said. Jobless claims (a proxy for layoffs) have increased but not spiked; and since the government’s measure of unemployment captures folks who are actively looking for a job, the jobless rate also includes new entrants and reentrants to the labor force.

The mechanics for the unemployment rate dipping lower in September were as follows (as laid out by Michael Feroli, chief US economist at JPMorgan, in a note issued Friday):

The household survey (one of two that feed into the monthly jobs report) showed a 430,000 increase in employment and a 281,000 decrease in the ranks of the unemployed, which was the largest decline since early 2022.

“All categories of the unemployed — job losers, leavers, new and reentrants — declined last month, and the flows from unemployed to employed last month was the highest since early 2022,” he wrote.

For months, economists had been asking Chinese officials to do much more to boost flagging prospects for the world’s second-largest economy, which was at risk of missing its own 5% target growth rate. This week, they appear to be heeding those calls.

“Beijing seems finally determined to roll out its bazooka stimulus in rapid succession,” analysts at investment bank Nomura wrote in a research note on Thursday. “Beijing’s recognition of the severe situation of the economy and lack of success in a piecemeal approach should be valued by markets.”

In fact, China and Hong Kong stocks are on track as of Friday to notch their best week since 2008. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%.

The big-box chain is now selling Swiss-made 1 oz. platinum bars for $1,089.99 on its website, but a Costco membership is required for purchase. The bar features Lady Fortuna, the Roman goddess of prosperity, according to the manufacturer’s website.

Costco is trying to replicate its recent success with gold bars, with platinum joining the extensive list of precious metals that collectors are snapping up at the retailer.

In 2023, it began selling gold bars and sold more than $100 million worth of the bars during the first quarter of that year, the company said in its earnings report. Then, earlier this year, Costco started selling silver coins for the first time, at a price of $675. The coins are non-refundable, and members can purchase a maximum of five.

However, the price of gold is a better bet for collectors because the price has recently hit record highs. Meanwhile, the price of platinum has risen modestly compared to gold, year to date.

But Costco’s move is more about marketing than increasing sales. After all, not many people are actually stashing away gold bars in their homes. It’s selling precious metals to try to reinforce its “treasure hunt” brand image where it peppers its stores with unexpected, limited-time items to keep shoppers coming back.

All of this is music to the ears of drivers.

US gas prices fell to a fresh six-month low of $3.31 a gallon on Thursday, down 50 cents from this point last year, according to AAA.

Drivers in 10 US states - including Texas, Kentucky and Kansas - are paying less than $3 a gallon on average. Andy Lipow, president of consulting firm Lipow Oil Associates, expects that another nine states will join the sub-$3 list in the next two weeks.

Data from OPIS, which tracks gas prices at 130,000 stations nationwide, shows that nearly 41,000 of those stations, or nearly one out of every three, are already charging less than $3 a gallon for regular gas. A year ago at this time there were barely 100 stations nationwide that were below the $3 mark.

By around Thanksgiving, approximately 35 to 40 states could be below $3 a gallon, GasBuddy’s Patrick De Haan told CNN on Thursday.

“Gas prices, after two-plus years of sizzling because of outside factors like Covid and Russia, are finally coming back into balance,” said De Haan.

The accelerating drop in gas prices should help ease financial pressure on consumers and contribute to the cooling inflation rate. That in turn could help pave the way for the Federal Reserve to lower interest rates, making it cheaper for Americans to borrow.

This trend, if it continues, could also help Vice President Kamala Harris in the November election as voters weigh which candidate will be best for their wallets. Some economists say gas prices will likely be a deciding factor, and lower prices will favor the current administration.

Gas prices in most battleground states are much lower than a year ago, including sharp declines in Arizona (88 cents), Nevada (55 cents) and Georgia (49 cents).

Almost a year after Hamas’ deadly attack on October 7, Israel is pushing forward on multiple fronts: launching a ground incursion against Hezbollah in Lebanon, carrying out airstrikes in Gaza and Beirut, and threatening retaliation for Iran’s ballistic missile attack earlier this week. As the conflict spills over into the wider region, the economic costs will spiral too, both for Israel and other countries in the Middle East.

Already, the US is knee-deep in debt. At $28 trillion, publicly held federal debt is worth almost as much as the entire US economy.

Beijing's announcements of economic support last week have fueled China's CSI 300 blue-chip index to rally over 25% in a nine-day winning streak. On Monday, it popped over 8% to its best day in 16 years and the Shanghai Composite Index surged 8.06%, before the markets closed for a week-long holiday.

Then, Hong Kong stocks dropped on Thursday, ending a 6-day winning streak and sparking fears that China's stimulus rally could have started to fizzle out.

Beijing's recent stimulus blitz coupled with higher participation from retail investors will likely fuel a longer rally.

While job creation is strong, housing affordability is under strain as higher mortgage rates make borrowing more expensive. This could slow down home sales, especially as many buyers were hoping for lower rates. The construction sector, however, has shown resilience, with job growth and increasing single-family home permits, reflecting demand for new homes. However, if mortgage rates remain elevated, it could dampen builder confidence and slow down construction activity.

Looking ahead, economists expect rates to remain volatile, with any further reductions dependent on inflation easing and the labor market softening. However, current trends suggest that mortgage rates could stabilize around the 6% range by the end of the year.

Audrey

Balancing work and caregiving responsibilities is becoming more difficult for employees, especially as many work full-time while caring for elderly or ill family members. This often leads to burnout and workplace absences. In response, companies are offering more support, such as flexible work hours, elder care consultations, backup care, and care coordination. These services not only help employees manage their caregiving duties but also reduce turnover and absenteeism, providing a solid return on investment for employers. Caregivers can also explore tax breaks and family financial support to ease the financial burden.

Selina.xu

China has allocated 200 billion yuan ($28 billion) for local government investment projects in 2024 to meet its growth targets, despite disappointing investors expecting more significant stimulus. The National Development and Reform Commission (NDRC) emphasized confidence in reaching a 5% annual growth target, but China's economy faces challenges such as a property crisis, weak spending, and high youth unemployment. While monetary policies have been implemented, economists call for larger fiscal measures to restore consumer confidence and support economic recovery, possibly including a larger stimulus package.

Selina.xu

Rachel

Rachel

The broader impact of such technologies on the economy includes fostering a more inclusive and educated labor force. When students can stay connected to their education, even when facing health challenges, they can contribute more effectively to society and the economy in the future. This minimizes potential skill loss and social exclusion, ultimately increasing labor productivity and creating a more resilient workforce. Additionally, the use of telepresence robots like AV1 highlights how innovation in education can lower the societal costs of healthcare and unemployment by equipping all students, regardless of health barriers, with the skills needed to enter the labor market.

Audrey

Audrey

The price elasticity of demand is clearly at play here: as fast-food prices rise, consumers become more sensitive and reduce their spending on non-essential items like larger fry portions. Additionally, the production cutbacks by Lamb Weston demonstrate how firms adjust supply in response to a decrease in demand, aiming to avoid excess inventory. The layoffs and restructuring also reflect a broader adjustment to align operational costs with the current market conditions.

Audrey

Analysts remain cautious, however, as further escalations, particularly targeting Gulf energy infrastructure, could strain global supply, especially if Iran’s oil exports—about 3 million barrels per day—are affected. The uncertainty around the region's stability, combined with geopolitical risks and potential sanctions, continues to be a key factor driving oil price fluctuations.

Audrey

More women support Democrats, a gender gap that seems likely to widen as the fall of Roe v. Wade turned the US into a country with abortion-rights states and abortion-ban states.

The extent to which former President Donald Trump can siphon off support for Vice President Kamala Harris among voters of color, Latinos and Black men, in particular, could be consequential in states where close margins are expected.

“The biggest single, best predictor of how someone’s going to vote in American politics now is education level. That is now the new fault line in American politics,” Sosnik told David Chalian on the “CNN Political Briefing” podcast.

Trump’s rise over the past three election cycles, Sosnik argued, “accelerated and completed this political realignment based on education that had been forming since the early ’70s, at the beginning of the decline in the middle class.”

As the US transitions to a 21st century economy, there’s a rift between the people who attain education – “that’s become the basic Democratic Party,” he said, comparing them with people who feel left behind, “that group of voters is now the modern Republican Party base.”

Without providing details on the size of the fiscal stimulus being prepared, Finance Minister Lan Foan told a news conference on Saturday there will be more “counter-cyclical measures” this year.

“There is still relatively big room for China to issue debt,” he said.

A wide range of economic data in recent months has missed forecasts, raising concerns among economists and investors that the government’s roughly 5% growth target this year was at risk and that a longer-term structural slowdown could be in play.

Chinese stocks reached two-year highs, spiking 25% within days since that meeting, before retreating as nerves set in given the absence of further details on the government’s additional spending plans.

This story underscores the complex relationship between corporate strategy, labor relations, and economic outcomes, revealing how decisions taken during crises can have far-reaching implications for workers, management, and shareholders.

From an economic standpoint, this scenario is a prime example of how a sudden shift in demand can lead to supply shortages, illustrating the principles of supply and demand. When demand for a product outstrips supply, prices often rise, and shortages can occur. This case also emphasizes the growing influence of social media on consumer behavior, capable of disrupting entire markets in a matter of days.

Rachel

rachel

The company expects annual revenue growth in the last three months of the year, as global chipmakers continue to benefit from demand boosted by artificial intelligence applications.

Shares of chip companies rose on the results. Shares of Nvidia, Micron and AMD were all up almost 1% at market close on Thursday.

The company’s net income was 325.3 billion New Taiwan dollars ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of NT$300.2 billion cited by Reuters.

Audrey

Audrey

As China’s economy grapples with a raft of setbacks, from a protracted property crisis to a lack of consumer spending, delivery workers are taking a beating.

Gross domestic product grew by 4.6% in the three-month period from July to September, compared with a year ago. That was just slightly higher than the expectations of economists polled by Reuters, who had predicted expansion of 4.5%.

“They are working long hours, really being squeezed,” said Jenny Chan, associate sociology professor at Polytechnic University of Hong Kong. “[And] they will continue to face pressure as [delivery platforms] have to keep the cost low,” she said.

A sluggish economy means people are ordering cheaper meals. That cuts into workers’ earnings because most work on commission, which forces them to work longer hours to maintain their earnings, Chan says.

While CSAC is an industry group rather than a government body, it has close ties to the Chinese state and the raft of accusations against Intel (INTC), published in a long post on its official WeChat account, could trigger a security review from China’s powerful cyberspace regulator, the Cyberspace Administration of China (CAC).

Intel’s China unit said on Thursday it has always prioritized product safety and quality.

“We will maintain communication with the relevant authorities, clarify any concerns, and reaffirm our commitment to product safety and quality,” the company said in a statement on its official WeChat account.

The CAC did not immediately respond to a request for comment. Intel’s shares had closed 1.5% lower on Wednesday amid a broad tech sell-off following a disappointing update from chip equipment maker ASML (ASML).

rachel

rachel

Rachel

Rachel

Her stop in Pittsburgh is her third in the state on the eve of Election Day after rallies in Scranton and Allentown and ahead of her final stop in Philadelphia where she will be joined by Oprah Winfrey and Lady Gaga, among other celebrities, musicians and elected officials. That state is considered one of the most important battlegrounds this election cycle.

iPhone sales for the three months ended in September modestly beat analyst expectations, according to numbers released by the company on Thursday. iPhone sales reached $46.2 billion, up more than 5.5% from the same period in the prior year, according to Apple’s earnings report after the bell.

Here’s why that matters: Apple’s third quarter earnings results include the just over two weeks of sales figures since iPhone 16 preorders opened on September 13. (Devices officially landed on shelves September 20.)

While that’s only a sliver of what will end up being the iPhone 16’s total lifetime sales, it provides an important early look at demand for the device that Apple has been hoping would turn around a years-long sales rut. Apple’s overall revenue declined year-over-year for four straight quarters last year, in part because of weak iPhone demand and widespread economic uncertainty.