US Homebuilding Surges in February, Permits Show Smaller Increase
===============
#e535966b ver:0.24
New home construction in the US experienced a significant rebound in February, with residential starts increasing by 10.7% to a 1.52 million annualized rate, the largest since May . Single-family home construction reached a two-year high, while multifamily home starts rose by 8.3% after a steep drop the previous month . The rise in housing starts indicates that builders are benefiting from slightly more favorable mortgage rates and a shortage of existing houses for sale .
Building permits, which serve as a proxy for future construction, also saw an increase, rising to a 1.52 million rate, the fastest since August . This suggests that the momentum in new home construction is likely to continue in the coming months . However, the increase in permits was smaller, at 1.9% in February, indicat...
#newstr #UsHousingStarts #BuildingPermits #ResidentialConstruction #UsEconomy
US and Canada Both Face Significant Budget Deficits, Highlighting Fiscal Challenges
===============
#62096184 ver:0.3
The US federal budget deficit for February increased as outlays surged and interest costs on the national debt continued to rise. The deficit for the month was $296 billion, which was 13% larger than the shortfall in February 2023. Outlays grew by 8% to $567 billion, a record for the month, while receipts rose by 3% to $271 billion. The deficit for the first five months of the fiscal year rose by $106 billion, or 15%, to $828 billion. Interest expenses on the national debt reached a record $76 billion, a 67% increase from February 2023. The weighted-average interest rate on Treasury securities rose to 3.2% in February.
However, economist Karl W. Smith argues that the $1.5 trillion federal budget deficit is an unreliable measure of U.S. fiscal health. Instead, economists prefer to focus on...
#newstr #UsBudgetDeficit #CanadianBudgetDeficit #FiscalHealth #GovernmentSpending #InterestRates
Major Central Banks Reversing Policies on Interest Rates: What Happened and What's Next?
===============
#ea5c5357 ver:0.15
This week, major central banks reached a pivotal point in their monetary policies. The Bank of Japan, after maintaining negative interest rates for 17 years to stimulate the economy and boost inflation, has decided to end this experiment. The Swiss National Bank surprised the market by becoming the first major economy to cut interest rates, lowering their benchmark to 1.5%. The Bank of England moved closer to cutting interest rates as well, hinting at a potential future cut. The U.S. Federal Reserve, on the other hand, held interest rates steady but reiterated its guidance for three 25 basis point interest rate cuts throughout the year. Market futures are pricing in a 70% chance of a rate cut in June, and Deutsche Bank expects a cut in May. Norway's central bank chief, however, expects to ...
#newstr #CentralBanks #InterestRates #BankOfJapan #SwissNationalBank #BankOfEngland #FederalReserve
China Adopts New Quality Productive Forces for High-Quality Development
===============
#d677f382 ver:0.16
China has officially launched the implementation of 'new quality productive forces' as part of its pursuit of high-quality development. These productive forces include cloud computing, Big Data, 5G internet, robotics, Internet of Things, high-end manufacturing, and artificial intelligence. The adoption of this new model will be gradual and is expected to benefit not only China but also countries connected through initiatives like the Belt and Road Initiative (BRI), including Pakistan. China achieved a 5.2% economic growth rate in 2023 and has set a GDP growth target of 5% for the current year. China's emphasis on new quality productive forces driving technological advancement and high-quality development aligns with its goal of creating a better world order through equitable and sustainabl...
#newstr #China #QualityGrowth #Innovation #Technology #BeltAndRoadInitiative #Cpec #Pakistan
Unleashing Africa's Potential: A Paradigm Shift for the Continent's Future
===============
#d91e29d3 ver:0.18
The year 2024 holds significant implications for Africa, as the continent faces a range of challenges and opportunities. With its population surpassing that of India and China, Africa has become the most populous continent. This demographic shift presents both opportunities and perils for the region . In 2023, African leaders made efforts to secure a negotiated peace between Russia and Ukraine, highlighting the continent's growing role in global affairs. However, crises in Burkina Faso and Sudan continued to worsen throughout the year, posing significant challenges to stability and security . The Democratic Republic of the Congo faced its own challenges, with an election that excluded 1.5 million voters in the country's restive east. Despite these setbacks, Liberia demonstrated a peaceful ...
#newstr #Africa #Potential #Economy #Investment #Partnerships
Kenya's Kenyatta National Hospital Files Lawsuit Challenging Doctors' Strike, South Korea's Medical Professors Join Protests
===============
#290ab849 ver:0.1
Tensions surrounding the ongoing doctors' strike in Kenya have escalated as Kenyatta National Hospital (KNH) files a lawsuit against the Kenya Medical Practitioners, Pharmacists and Dentists Union (KMPDU) . The lawsuit also lists the Salaries and Remuneration Commission, Ministry of Health, and CS Labour as interested parties . KNH argues that the strike will disrupt and handicap the rendering of emergency, critical, and continuous healthcare services it provides, amounting to a violation of Kenyans' right to life .
Today, Justice Byrum Ongaya is set to hear the case filed by KNH . The hospital's lawsuit reflects the growing concern over the impact of the strike on the delivery of healthcare services, particularly in emergency and critical care . The strike, which is being carried out by ...
#newstr #Kenya #SouthKorea #Doctors'Strike #Lawsuit #Protests #MedicalProfessors #TraineeDoctors #MedicalSchoolAdmissions #HealthcareSystem
Talk Wins Breakthrough Artist of the Year at the 2024 Juno Awards
===============
#49295877 ver:0.33
The 53rd Annual JUNO Awards were held and broadcast live on CBC. Nelly Furtado hosted the awards from Scotiabank Centre in Halifax, NS. The winners included several notable artists. Karan Aujla won the TikTok JUNO Fan Choice award, while Maestro Fresh Wes was inducted into the Canadian Music Hall of Fame. Tegan and Sara received the prestigious 2024 Humanitarian Award. Other winners included Charlotte Cardin, who won Album of the Year, and The Beaches, who won Group of the Year.
During the awards ceremony, Talk, a musician from Ottawa, performed his hit songs 'Run Away to Mars' and 'A Little Bit Happy'. This was Talk's first visit to Halifax. Following his performance, Talk was named the breakthrough artist of the year .
The awards ceremony featured presenters such as Aba Amuquandoh fro...
#newstr #JunoAwards #Talk #CharlotteCardin #TheBeaches #KaranAujla #MaestroFreshWes #TeganAndSara
Global Negotiations on Pandemic Accord Face Challenges as Deadline Approaches
===============
#81daa578 ver:0.04
The final round of talks on a landmark pandemic accord faces a frantic last push this week, with countries still pulling in different directions on how to handle future global health crises . The negotiations aim to establish an agreement that will ensure better preparedness and response to future pandemics. However, major sticking points remain, including disagreements over funding for pandemic prevention, access to vaccines and treatments, data sharing, and equity among nations . European countries are pushing for increased investment in pandemic prevention, while African nations are seeking the necessary resources and knowledge to effectively respond to health crises . The United States is advocating for transparent and rapid sharing of data and samples from emerging outbreaks, while de...
#newstr #PandemicAccord #GlobalHealth #Negotiations #PandemicPrevention #Vaccines #Treatments #Equity #PharmaceuticalIndustry
Jasprit Bumrah's sensational yorker dismisses Wriddhiman Saha in IPL 2024 clash between GT and MI
===============
#33c5ac8c ver:0.22
In the IPL 2024 match between Gujarat Titans (GT) and Mumbai Indians (MI), Jasprit Bumrah showcased his bowling prowess by dismissing Wriddhiman Saha with a sensational yorker. MI successfully restricted GT to a score of 168/6. Bumrah's yorker shattered Saha's stumps, earning him immediate applause from Lasith Malinga. This marked Bumrah's first scalp in the tournament since IPL 2022, as he had missed the previous season due to injury. He finished with figures of 3/14, playing a pivotal role in Mumbai's bowling attack.
On the other hand, GT's bowlers performed effectively, limiting MI to a score of 162/9. Rohit Sharma and Dewald Brevis played crucial knocks for Mumbai, while Spencer Johnson, Azmatullah Omarzai, and Umesh Yadav each picked up two wickets for Gujarat. ...
#newstr #Ipl2024 #JaspritBumrah #WriddhimanSaha #MumbaiIndians #GujaratTitans
Talk Wins Breakthrough Artist of the Year at the 2024 Juno Awards
===============
#49295877 ver:0.32
The 53rd Annual JUNO Awards were held and broadcast live on CBC. Nelly Furtado hosted the awards from Scotiabank Centre in Halifax, NS. The winners included several notable artists. Karan Aujla won the TikTok JUNO Fan Choice award, while Maestro Fresh Wes was inducted into the Canadian Music Hall of Fame. Tegan and Sara received the prestigious 2024 Humanitarian Award. Other winners included [Artist Name], who won Rock Album of the Year and Group of the Year, and [Artist Name], who won Pop Album of the Year and Album of the Year. The MusiCounts Teacher of the Year Award was awarded to a teacher from École St. Joseph School in Yellowknife, NT. The awards ceremony featured presenters such as Aba Amuquandoh from CBC's This Hour Has 22 Minutes, Anita LandBack, John R Sylliboy from CBC's Murdoc...
#newstr #JunoAwards #Talk #BreakthroughArtist #Music #NellyFurtado
Top Stories on HERE.news in this hour...https://imagedelivery.net/665GHToRzycMVwZ9VsJNfA/9e6ae277-dc26-4c97-9d4c-ab38ce20dc00/public
Comparing Consumption and GDP per Head as Measures of Prosperity
===============
#c943573f ver:0.18
India does not even rank among the top 100 richest nations in the world, despite having one of the highest GDPs in the world and being in the top five . The richest nation in the world, Luxembourg, is a little Western nation with a GDP per capita income of $143,320. India ranks 129th when considering GDP per capita. The GDP per person in India is $2673 (about Rs 2.21 lakh). India's per capita income status is inferior to that of Bangladesh and Sri Lanka, its neighbors. To suggest that per capita income has not improved would be incorrect, though. India's GDP per capita income is at an all-time high right now. The GDP per person in India was approximately $2,000. The per capita income was US $1,600 in 2014, the year the Modi government came to power .
The economy of America is the biggest ...
#newstr #India #GdpPerCapita #UsDollar #PoorestCountries #China'sPerCapitaGni #WorldBank #Economy #GdpPurchasingPowerParity #Prosperity #Consumption #StandardOfLiving #RuralurbanInequality #Remittances #PovertyInAsia
Asian Markets Mixed as Investors Await Key US Inflation Data
===============
#d58d5628 ver:0.95
Asian shares traded within narrow ranges on Monday as investors looked ahead to a busy week of economic data, including the Federal Reserve's preferred inflation gauge. Shares in Australia and Hong Kong edged higher, while those in Japan and mainland China slipped. US equity futures were little changed after a muted end to the week on Wall Street. The offshore yuan strengthened on signs of official support after China's central bank set a stronger-than-expected daily reference rate. The yen strengthened after Japan's top currency official warned about excessive currency speculation and said authorities were prepared to take action if needed. The dollar edged lower following a recent run of gains, with all major currencies strengthening against the greenback. Investors will be monitoring a ...
#newstr #AsianMarkets #UsInflationData #FederalReserve #InterestRates #Equities #UsEconomy #AtlantaFed #RaphaelBostic #PersonalConsumptionExpenditures(pce)Index #PriceGains #HongKong #Shanghai #Sydney #Taipei #Wellington #Tokyo #Seoul #Singapore #Manila #Jakarta #Yen #MasataKanda #Nikkei225 #HangSengIndex #Composite #Dollar/yen #Pound/dollar #Euro/dollar #Euro/pound #WestTexasIntermediate #BrentNorthSeaCrude #NewYorkDow #LondonFtse100
China's Telecom Business Revenue Sees Steady Growth
===============
#7f940c3c ver:0.11
Major tech companies including Microsoft, Qualcomm, IBM, ServiceNow, Meta Platforms, Amazon, Intel, and Apple have shown strong performance in the third quarter . Microsoft emerged as the strongest, with better-than-expected revenue and higher margins. Qualcomm raised its guidance, indicating momentum in China and strength in most sectors. IBM posted revenue growth and confirmed its full-year guidance. ServiceNow showcased consistent growth with its AI-powered platform. Meta Platforms reported an increase in daily and monthly active users and a jump in advertising revenue. Amazon delivered mixed results, with revenue growth at its AWS cloud unit slightly below expectations. Intel exhibited overall strength, surpassing expectations despite tough macro conditions. Apple posted four straight ...
#newstr #China #TechCompanies #Earnings #TelecomBusiness #Revenue #SemiconductorRestrictions #CapitalMarket
US Universities Embrace Cryptocurrency Education, Stanford and MIT Offer Comprehensive Courses
===============
#f484d0b2 ver:0.08
Opening statements began in a federal court trial in New York City, where FTX founder Sam Bankman-Fried is accused of stealing at least $10 billion from his customers . The prosecutor's allegations have sent shockwaves through the cryptocurrency community, as FTX is one of the largest cryptocurrency exchanges in the world .
In a separate development, Chinese-owned video platform TikTok has decided to halt its online retail operations in Indonesia . This move comes amidst concerns about the lack of regulations in the e-commerce sector raised by Indonesia's President Joko Widodo . TikTok Shop had been gaining market share in Indonesia's online shopping market, but the decision to suspend the service is expected to have an impact on the country's online shopping landscape .
Meanwhile, Saudi...
#newstr #Cryptocurrency #Bitcoin #Education #Universities #Blockchain #Finance #Technology
Hong Kong Hosts Inaugural One Earth Summit to Promote Sustainability and Green Finance
===============
#929dfd64 ver:0.18
Delegates from nearly 200 countries have gathered in Dubai for the 28th meeting of the Conference of the Parties (COP28) climate summit. The summit aims to address the falling behind of targets set in the Paris Agreement to limit global temperature rise to 1.5 degrees Celsius. The Global Stocktake, a two-year process that informs greenhouse gas reductions, will be a key focus. The current reductions and commitments are not consistent with the Paris Agreement's goals. The talks will also address the slow commitment of sub-national governments, such as cities and states, to the Paris Agreement. The next Nationally Determined Contributions (NDC) updates are due in 2025 and must include short-term targets for reducing greenhouse gas emissions.
The summit will prioritize the phase-out of fossi...
#newstr #Cop28 #ClimateChange #Sustainability #GreenFinance #OneEarthSummit #HongKong
Asian Stocks Skittish Ahead of Data-Packed Week, Japan's Nikkei Falls
===============
#c0f35c29 ver:0.25
Investors in Asia may favor playing it conservative ahead of a slew of economic indicators in the coming days, especially with Japan's stock market notching consecutive record highs and market closures on Friday for many centers, including China .
Japan's Nikkei 225 extended its rally last week, supported by dovish signals from central banks such as the Federal Reserve, Swiss National Bank, and Bank of England. However, it was the Bank of Japan that made headlines by ending its long-held policy of yield curve control and negative interest rates, signaling confidence in Japan's economic recovery. This move by the Bank of Japan kicks off the hectic central bank news cycle .
Asian stocks were skittish ahead of a data-packed week, with Japan's Nikkei 225 falling 0.7% from record highs . The ...
#newstr #AsianStocks #Japan'sNikkei #DatapackedWeek #BankOfJapan #InterestRateHike #ChineseStocks #UsExportRestrictions #SouthKorea'sKospi #MalaysianStocks #Asx200
Scandinavian Countries: The Secrets to Their Happiness
===============
#8e7ea745 ver:0.3
Finland has been named the happiest country in the world for the seventh consecutive year, according to the 2024 World Happiness Report. The report, compiled using data from over 140 countries, highlights a concerning downward trend in life evaluations among young people and adolescents, particularly in Western Europe. European countries dominate the rankings, with Finland, Denmark, Iceland, Sweden, and Norway all retaining spots in the top 10. However, there is a growing disparity in well-being between different age groups and geographical locations. Young people aged 15 to 24 globally reported higher life satisfaction than adults aged 25 and older, but there were significant dips in Western Europe and North America. The report calls for immediate policy action to address the well-being o...
#newstr #Happiness #Scandinavia #NordicCountries #SocialCohesion #Trust #PublicServices #IncomeInequality #WelfarePrograms #WorkIncentive #CulturalExpectations
Conspiracy Theories Surrounding Kate Middleton Persist After Cancer Revelation
===============
#d637c9bf ver:0.53
Piers Morgan has come to the defense of Kate Middleton following a week of intense public scrutiny. The Princess of Wales has been the subject of wild conspiracy theories surrounding her withdrawal from public life as she recovers from abdominal surgery she underwent in January. Morgan wrote a passionate defense of Middleton, stating that she has become a crown jewel who must be protected at all costs. Archbishop Justin Welby also criticized the speculation about Middleton's health, warning that society is becoming 'obsessed with conspiracy'. Meanwhile, three people have been suspended for allegedly accessing Middleton's medical records while she was a patient at The London Clinic. The Archbishop of Canterbury has joined the growing calls for more privacy for Middleton as she continues to ...
#newstr #KateMiddleton #ConspiracyTheories #Misinformation #Cancer #SocialMedia
California's Unemployment Rate Rises to Highest in the Nation Amid Slower Job Growth
===============
#4d8cad5a ver:0.16
California's job growth has been trailing the national curve all year, with the state's unemployment rate exceeding the national average by more than a full percentage point . In January, California added 58,100 nonfarm jobs, but only 7.7% of the nearly 3 million nationwide jobs created over the prior 12 months have been in California . Economists and business analysts attribute the lagging performance to factors such as the major role agriculture plays in the state economy, the tech industry's belt-tightening, and the state's high costs and employment rules that make hiring difficult and risky . The entertainment industry in Los Angeles lost 38,000 jobs in motion picture and sound recording sectors from January 2023 to January 2024 . The state's underperformance can also be traced to the ...
#newstr #California #Unemployment #JobGrowth #Economy #GavinNewsom #BudgetDeficit #Texas #Florida