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September 12, 2024

Pakistan Cuts Rates to Revive Economy as Inflation Cools

(Bloomberg) -- Pakistan cut its benchmark interest rate for a third consecutive meeting as slowing inflation gave policymakers space to revive economic growth.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingHousing’s Worst Crisis in Decades Reverberates Through 2024 RaceAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025The State Bank of P

September 12, 2024

Gold Climbs to a Record as US Data Bolster Fed Rate Cut Case

(Bloomberg) -- Gold climbed to a record after another faster-than-forecast US inflation print and an uptick in applications for unemployment benefits did little to alter bets that the Federal Reserve will cut interest rates next week. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingHousing’s Worst Crisis in Decades Reverberates Through 2024 RaceAfter a Record Hot Summer, Pressure Grows for A/C MandatesChi

September 12, 2024

Oil prices climb 1% on concern about hurricane's impact on US output

(Reuters) -Oil prices rose more than 1% on Thursday, extending a rebound spurred by concern over Hurricane Francine's impact on U.S. output, though a gloomy demand outlook capped gains. Brent crude futures for November were up 95 cents, or 1.4%, to $71.56 a barrel by 1322 GMT. U.S. crude futures for October rose $1.02, or 1.5%, at $68.33.

September 12, 2024

Putin’s Ministers See a Rosy Economic Future Amid War, Sanctions

(Bloomberg) -- The government’s latest predictions for Russia’s economy through the rest of President Vladimir Putin’s current term suggest it will be in good shape by the next election. The optimism may be too good to be plausible amid intensifying sanctions and Russia’s continuing war on Ukraine. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingHousing’s Worst Crisis in Decades Reverberates Through 2024

September 12, 2024

Where Money Managers See Dollar Going as Fed Cuts, US Votes

(Bloomberg) -- All signs point to a tough few months ahead for investors charting the dollar’s path, after the US presidential debate and a key inflation reading left markets anticipating heightened volatility through year-end.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingHousing’s Worst Crisis in Decades Reverberates Through 2024 RaceAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Hal

September 12, 2024

Wholesale inflation mostly cooled last month in latest sign that price pressures are slowing

U.S. wholesale price increases mostly slowed last month, the latest evidence that inflation pressures are cooling enough for the Federal Reserve to begin cutting interest rates next week. The Labor Department said Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.2% from July to August. Excluding food and energy prices, which tend to fluctuate from month to month, so-called core wholesale prices moved up 0.3% from July and have risen 2.3% from August 2023.

September 12, 2024

US filings for unemployment benefits inch up slightly but remain historically low

Slightly more Americans filed for unemployment benefits last week, but layoffs remain at historically low levels despite two years of elevated interest rates. Jobless claims rose by 2,000 to 230,000 for the week of Sept. 7, the Labor Department reported Thursday. Weekly filings for unemployment benefits, considered a proxy for layoffs, remain low by historic standards, though they are up from earlier this year.

September 12, 2024

Thailand's slumping economy is new leader Paetongtarn's focus in her first parliamentary speech

Thailand’s new Prime Minister Paetongtarn Shinawatra vowed Thursday in her inaugural speech to Parliament to continue many of her predecessor’s plans to solve the country’s economic woes. Paetongtarn, the leader of the ruling Pheu Thai Party and daughter of former Prime Minister Thaksin Shinawatra, took office last month after a court ousted Srettha Thavisin from his post over an accusation that he had violated an ethics law by appointing a Cabinet member who had served time in prison in connection with a bribery case. Pheu Thai formed a government headed by Srettha after members of the conservative Senate refused to endorse the prime minister nominated by the progressive Move Forward Party, which won the most seats in last year’s general election.

September 11, 2024

Global Funds Rush Into Southeast Asia Stocks as Fed Pivot Play

(Bloomberg) -- Southeast Asian equities have cemented their position as a favorite play of money managers positioning for the Federal Reserve’s policy pivot.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025UC Berkeley Gives Transfer Students a Purpose-Built Home on CampusFour of the five be

September 11, 2024

Federal judge temporarily blocks Utah social media law aimed at protecting children

A federal judge in Utah has temporarily blocked a social media access law that leaders said was meant to protect the personal privacy of children and limit their use of such platforms, saying it is unconstitutional. U.S. District Court Judge Robert Shelby on Tuesday issued the preliminary injunction against a law that would have required social media companies to verify the ages of their users, apply privacy settings and limit some features on those accounts. The law was set to take effect on Oct. 1 but will be blocked pending the outcome of the case filed by NetChoice, a nonprofit trade association for internet companies such as Google, Meta — the parent company of Facebook and Instagram — Snap and X.

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