Mixed Response in Asia as USD Strengthens
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Asian markets are expected to have a muted open following a slight increase in the S&P 500. Wall Street experienced a busy session of bond sales as issuers sought to borrow before key economic data is released later in the week. Traders are awaiting Thursday's inflation data and a parade of central bank speakers. In New Zealand, the Reserve Bank of New Zealand (RBNZ) held its official cash rate steady at 5.50% on Wednesday, as expected . The RBNZ deemed the current level of the policy rate as sufficiently restrictive. The Reserve Bank of New Zealand trimmed its projected policy path for future rates, sparking a rally in New Zealand bonds and a dip in the NZD/USD . The New Zealand currency and interest rates have fallen after the RBNZ dovish no-change Monetary Policy Statement . Asian-Pacif...
#newstr #Usd #AsianMarkets #CentralBanks #InterestRates #StockMarket #Commodities
US Congress to Vote on Aid to Ukraine Bill in April
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Republican Congressman Matt Gaetz, who orchestrated the removal of Speaker McCarthy, is now setting his sights on blocking additional funding for Ukraine. Gaetz claims that a majority of Republicans in the House of Representatives are against sending more money to Ukraine and cites the Hastert Rule, which prohibits bringing legislation to the floor without majority support from the majority party. However, a recent bill providing $300 million worth of assistance to Ukraine received 311 votes in the House. Gaetz also introduced an amendment to prohibit all aid to Ukraine, but it garnered even less support from House Republicans. Despite Gaetz's opposition, there is a clear majority in the House in favor of protecting US interests in Ukraine and meeting treaty obligations. Republican Senator...
#newstr #UsCongress #AidToUkraine #Vote #Bill #Republican #Democratic #MattGaetz #MikeQuigley #MichaelMccaul
Key Economic Ministries in India Seek Support for Socioeconomic Surveys
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#9f75d02c ver:0.04
Key economic ministries in India have requested technical and manpower support from the Ministry of Statistics and Programme Implementation (MoSPI) for a fresh set of surveys. The surveys aim to bolster their database for suitable policy action and cover areas such as tourism footfall surveys, ailments among the elderly, and price estimation of industrial inputs. The National Sample Survey Office (NSSO), the survey wing of the statistics ministry, will conduct these surveys. The NSSO conducts large-scale sample surveys in diverse fields across India and collects data on various socio-economic subjects. The ministry will likely start conducting the additional surveys after the elections. Private agencies may be contracted to conduct certain surveys due to resource constraints, but there are...
#newstr #SocioeconomicSurveys #StatisticsMinistry #India #Nsso #Database #PolicyAction
US-imposed Austerity and Sanctions Contribute to Cuban Economic Crisis
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Large crowds have gathered in cities across Cuba to protest against the worsening food and fuel shortages, as well as frequent electricity blackouts. The economic crisis in Cuba has led to a reduction in the availability of rationed food, causing many Cubans to feel ill-equipped to handle the new, more unequal country. Basic goods like powdered milk can cost as much as $8, and protesters have taken to the streets to decry power outages and food shortages . The lack of hard currency and needed equipment has worsened the situation in Cuban agriculture, leading to a lack of production. The Cuban government blames the economic damage wrought by COVID-19, U.S. sanctions, and macroeconomic changes for the crisis . The recent protests in Cuba have sparked a discussion about the role of the United...
#newstr #Cuba #Us #Blockade #Sanctions #Protests #EconomicCrisis
US Home Flipping Industry Hit by Rising Interest Rates
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#8b997baa ver:0.48
In recent years, the US home flipping industry has been negatively impacted by the increase in interest rates engineered by the US Federal Reserve (Fed). The number of Americans acting as investors in the housing market has dropped by 38.85% between 2021 and 2023's fourth quarter. Home flipping, which involves buying and renovating a single-family home with the intent to sell for a profit, has declined since the peak during the Covid-19 pandemic. The share of homes purchased by investors fell 11% on a year-over-year basis in 2023. Despite the decline, housing investors spent $32.3 billion on homes in the United States in 2023 .
The current housing market is characterized by limited inventory and lukewarm demand, resulting in reduced profits for flippers. The decline in homebuyer demand ha...
#newstr #HomeFlipping #InterestRates #HousingMarket #Investors #RealEstate #Contractors #RealityTvStars
Trump Warns of 'Bloodbath' and 'No More Elections' if He Loses
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#783496f5 ver:0.22
Lawmakers from both parties are expressing concern over the increasingly divisive tone of the presidential general election between former President Donald Trump and President Joe Biden. Republican Senator Mike Braun warned that the country is so evenly divided and has a lot of vitriol in the conversation. Senate Armed Services Chairman Jack Reed blamed Trump for lowering the level of debate with his comments.
Trump has warned of a 'bloodbath' if he is not elected, while Biden has referred to Trump as 'a loser' and a proponent of political violence. Trump has also claimed that a Biden win would mean economic calamity and that it would be the last election in U.S. history if he loses. Biden's campaign spokesman accused Trump of being a loser who appeals to violence.
Lawmakers are part...
#newstr #DonaldTrump #UsElections #Revenge #UsConstitution #JaredKushner #SerbianLeaseDeal
Growing Concerns Over CEO Pay Inequality in South Africa and UK
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#5368509d ver:0.16
U.S. Senator Sheldon Whitehouse, along with Representatives Barbara Lee and Alexandria Ocasio-Cortez, has introduced the Curtailing Executive Overcompensation (CEO) Act. The legislation aims to address the growing pay disparity between CEOs and workers in the US automotive industry by applying an excise tax on companies with at least a 50 to one CEO-to-median-worker pay ratio. The tax would be proportional to the executive's compensation and the degree the pay ratio exceeds 50 to one. The CEO Act would have raised over $10.1 billion from the top 100 US companies alone in 2022. The bill has received support from various organizations, including unions, advocacy groups, and think tanks.
The wage gap between CEOs and workers in South Africa is a key driver of rising inequality. The average ...
#newstr #CeoPayInequality #SouthAfrica #Uk #UsstyleExecutivePay #Inequality #SocialScientists #LondonStockExchange #BusinessLeaders #PayAwards #HighPayCentre #Astrazeneca
Top Stories on HERE.news in this hour...https://imagedelivery.net/665GHToRzycMVwZ9VsJNfA/90e95112-a55a-46de-62a1-b6bbcf670d00/screenshot
Purdue and ISU Continue March Madness Success in Sweet 16 and NIT Quarterfinals
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#ed230121 ver:0.22
The top-seeded Purdue Basketball team secured their spot in the Sweet 16 of the March Madness tournament with a dominant victory over Utah State. Purdue defeated Utah State with a final score of 106-67, setting a new school record for the highest points scored in a March Madness game. The win was celebrated by Purdue fans, who traveled over 60 miles to watch the game at Gainbridge Fieldhouse in Indianapolis. The atmosphere at the arena was described as 'Mackey South,' highlighting the strong presence and support of Purdue fans .
Purdue's center, Zach Edey, played a crucial role in the team's victory. Edey scored 23 points and pulled down 14 rebounds, showcasing his dominance on both ends of the court. His performance against Utah State further solidified his reputation as a formidable for...
#newstr #Purdue #Isu #MarchMadness #NitTournament
Asahi Celebrates Success of Barley Chain Program with Victoria's Top Barley Farmers
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#4eddf591 ver:0.04
Asahi Beverages, the owner of Carlton & United Breweries, recently hosted an event to celebrate the success of its Victorian Barley Program. The program, which was launched four years ago, has allowed Asahi to improve its barley supply chain and establish direct relationships with around 30 barley growers in the Mallee and Wimmera regions of Victoria. By buying barley directly from these growers, Asahi has been able to eliminate intermediaries like bulk grain handlers and gain clear oversight of the growing process. This enables the company to trace the barley back to the paddock, ensuring quality control and transparency in its supply chain .
The Victorian Barley Program has not only benefited Asahi but also provided financial security for the growers involved. By working directly with A...
#newstr #AsahiBeverages #VictorianBarleyProgram #BarleyFarmers #BrewingIndustry #SupplyChain #Victoria
Hong Kong's Financial Industry Faces Decline as High-Flying Bankers Struggle to Find Jobs Amid US-China Tensions
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China's economic slowdown continues to impact investment banks and law firms in Asia, leading to office closures and job cuts. The sinking blue-chip CSI300 index and lack of major stimulus have contributed to difficult market conditions. U.S. asset manager Matthews International Capital Management is the latest firm to announce the closure of its Shanghai office. Other major global financial institutions, such as Morgan Stanley, have also trimmed their teams in China. Foreign money managers in China face challenges including sluggish markets, policy uncertainty, and geopolitical tensions.
The income generated by global investment banks from equities business with Chinese clients declined by 30% to $4 billion in 2023 compared to 2022. Additionally, M&A revenue posted a 16% fall to $629 m...
#newstr #China #InvestmentBanks #LawFirms #Asia #JobCuts #HongKong #UschinaTensions #Ipos #FinancialIndustry
Global Warming and Heatwaves Expected to Drive Up Food Prices and Inflation
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#63b0c4c6 ver:0.23
Global warming and heatwaves are predicted to increase food prices and overall inflation worldwide, according to a study conducted by the Potsdam Institute for Climate Impact Research (PIK) and the European Central Bank . The researchers analyzed historical price and weather data from 121 countries between 1996 and 2021. They found that rising temperatures due to climate change are projected to drive up the cost of food worldwide between 1.49 and 1.79 percentage points every year by 2035. This impact will be most strongly felt in regions that are already hotter, particularly in poorer and developing parts of the world. Africa and South America are expected to be the continents most affected by the increase in food prices and inflation. The study also revealed that a major heatwave in Europ...
#newstr #GlobalWarming #FoodPrices #Inflation #ClimateChange #Heatwaves #Research
Analysts' Missed Factors in 2023 Oil Price Predictions Contributed to Inaccurate Forecasts
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#81399c78 ver:0.07
Oil prices have hit a two-month low due to concerns over China's demand for crude . The decline in demand from China has put pressure on oil prices . Additionally, tax revenues from the UK's oil and gas sector are projected to reach £50 billion over the next five years . HSBC predicts a potential double-digit rally in global stock markets next year if the Federal Reserve cuts interest rates and the US economy avoids a recession . Meanwhile, workers at Amazon are planning to go on strike over pay disputes .
The decline in oil prices is also attributed to concerns over waning demand in the United States and China . The US Energy Information Administration (EIA) has revised its forecast, expecting a decrease in crude production and a fall in demand . Weak economic data from China and the eur...
#newstr #OilPrices #Demand #Supply #Market #NaturalGas #Diesel #Smuggling #UsManufacturing #EconomicExpansion #GasolinePrices
Key Economic Indicators and Earnings Report to Watch in the Week Ahead
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#e579db8a ver:0.29
Global stock markets have continued their rally, with the US and Australian indices marking a fourth consecutive month of gains. The S&P500 and ASX200 have both shown upward momentum. Despite challenges such as high inflation figures and scaling back of hopes for bold rate cuts, investor sentiment remains positive. The US economy saw core PCE inflation rise by 0.4% MoM for 2.8% YoY in January. In Germany, the inflation rate in February eased to 2.5% YoY, while Japan's inflation rate dropped to 2.2% YoY in January. Australia's Monthly CPI indicator for January rose by 3.4% YoY. The second estimate of US Q4 GDP was 3.2%, and the Canadian economy expanded by 0.2% in Q4. Crude oil and gold have also seen gains. Upcoming events to watch include GDP numbers for Q4 in Australia, the ECB interest ...
#newstr #Cpi #ConsumerConfidence #Byd #Inflation #RateCuts #ElectricVehicle #Earnings
EU Leaders Discuss Plan to Arm Ukraine Using Frozen Russian Assets
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#5f44d79b ver:0.53
The European Union (EU) national leaders are convening to discuss a proposal to utilize billions of euros in profits from frozen Russian financial assets to purchase arms for Ukraine. The plan aims to provide military support to Ukraine in its ongoing conflict with Russia. This development comes as Russia has launched a series of missile strikes on Ukraine's capital, Kyiv, resulting in injuries to at least 13 people and damage to several buildings. The EU leaders will deliberate on the feasibility and implications of using the frozen Russian assets to bolster Ukraine's defense capabilities. The outcome of these discussions will have significant implications for the ongoing Russia-Ukraine war.
In related news, US President Joe Biden is pushing the Group of Seven (G7) nations to make prog...
#newstr #Eu #Ukraine #Russia #Confiscation #FrozenAssets #MilitaryAid #G7 #Sanctions #Iran #MissileTransfer
Creative Industries Contribute Trillions to Philippine Economy, Highlighting Potential for Growth
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#fba7f986 ver:0.22
Tourism has long been recognized as a significant contributor to the growth of the Philippine economy, accounting for 6.2% of the country's GDP. Additionally, the tourism sector employs 5.35 million Filipinos, making up 11.4% of total employment . The Department of Tourism reported that in the first two months of 2024, the country welcomed 1.2 million foreign visitors, with a target of 7.7 million arrivals for the entire year. To fully unleash the potential of the tourism industry, collaboration between local and international stakeholders is crucial. Infrastructure development, including the improvement of airports and health facilities, is also highlighted as a priority. Increasing airport capacity is particularly important for the Philippines to remain competitive with its ASEAN neighbo...
#newstr #Philippines #Tourism #EconomicGrowth #CreativeIndustries #Gdp #WorldEconomicForum
Save Big on Kitchen Products and More During Amazon's Big Spring Sale
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The Amazon Great Indian Festival 2023 is now live for Prime members, offering early access to the best deals on laptop brands and computer accessories. For non-Prime members, the sale will begin on 8th October. This sale brings you the finest deals on the best laptop brands, including Apple, HP, ASUS, and more. Additionally, you can explore the extensive list of computer accessories available at the lowest prices in the Amazon sale. From mice to headphones, these accessories provide different functionalities to enhance your computer experience. Don't miss out on the opportunity to upgrade your technology at unbeatable prices!
In addition to the exciting tech deals, October Prime Day also offers incredible discounts on kitchen appliances. The Manual has compiled a list of the best kitchen ...
#newstr #Amazon #BigSpringSale #TechDeals #KitchenAppliances #GiftIdeas #FoodStorageContainers #Men'sFashionDeals #ReiMemberMomentSale
Navigating Family Judgments and Acceptance in Relationships
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#80a11991 ver:0.08
In an advice column, three separate issues are discussed. The first issue revolves around a family facing inheritance problems. The writer's parents had property that was supposed to be divided among the children upon their death. However, the mother decided to give all the property to one of the siblings, causing a rift among the family. The writer seeks advice on how to move past this situation .
This situation highlights the challenges that can arise when dealing with inheritance and the potential for family disputes. Inheritance issues can strain relationships and create divisions within families. It is important for the family members involved to have open and honest communication to address their concerns and find a resolution that is fair and equitable for everyone. Seeking profess...
#newstr #InheritanceDisputes #Marriage #FamilyRelationships #Communication #Cooking
Putin's Re-election and his Influence on the Global South
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#4d7025fb ver:0.2
Vladimir Putin has won his fifth term as President of Russia despite cyber-attacks on the country's electronic voting platform. Leaders from multiple countries in the Global South have welcomed his reelection, while the Western bloc has been largely silent. The war in Ukraine has had significant costs for both the West and Russia, particularly for the EU, which has faced economic consequences due to sanctions on Russia. The decline in US support for Ukraine has also raised questions about the US's commitment to the conflict. Putin's defiance of Western elements, including economic sanctions and military aid to Ukraine, has eroded the legitimacy of the West's ideological supremacy and demonstrated that sanctions can be mitigated. The Ukraine war marks a transition from a unipolar to a multi...
#newstr #Putin #GlobalSouth #Ukraine #Sanctions #MultipolarWorldOrder
Finalists Announced for TMRRW Awards AU/NZ 2023 and The Hive Awards: Celebrating Businesses Making a Positive Environmental and Social Impact in Australia and New Zealand
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#382c9456 ver:0.09
The finalists for two prestigious awards in Australia and New Zealand have been announced, recognizing businesses and organizations that are making a positive environmental or social impact. The TMRRW Awards AU/NZ 2023 finalists have been chosen based on their commitment to creating a better future. The awards aim to inspire new ways of thinking, living, and working, and foster a culture of collaboration and collective action. The winners will be selected by a jury of industry experts and authorities. There are 20 awards featured within four categories: Innovation, Impact, Growth, and Excellence. Additionally, there will be one overall winner: Change Maker Of The Year. The finalists for The Hive Awards, which recognize excellence in food and beverage manufacturing, have also been revealed....
#newstr #TmrrwAwardsAu/nz2023 #TheHiveAwards #Finalists #PositiveImpact #FoodAndBeverageManufacturing