Although China’s first-quarter economic growth of 4.4 percent this year matched the previous quarter’s expansion, most of that growth took place in January and February. In March, the shutdowns began. As Omicron cases began appearing, China slammed shut city after city, including tech hub Shenzhen and Shanghai, the country’s most populous city and home to...
Tag: april 26 2022
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TOP TREND 2022 DRAGFLATION: IMF CUTS FORECAST FOR CHINA’S ECONOMIC GROWTH
The International Monetary Fund (IMF) has again cut its outlook for China’s economic expansion this year as part of its semi-annual Global Economic Outlook report. China’s economy will expand by 4.4 percent this year, the IMF now says. Last October, the IMF had predicted 5.6 percent growth for China in 2022, then scaled back its...
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TOP TREND 2022 DRAGFLATION: IMF CUTS GLOBAL GROWTH FORECAST, WARNS OF “DOOM LOOP”
The International Monetary Fund (IMF) has scaled back its outlook for the world’s economic expansion this year, whittling its 4.4-percent January forecast to 3.6 percent now amid rising interest rates, unchecked inflation, Russia’s relentless war in Ukraine, and Western sanctions. Last October, the IMF had foreseen global growth in 2022 to be 4.9 percent. The...
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TOP TREND 2022 DRAGFLATION: GLOBAL ECONOMY SLOWS
Economic growth is slowing in many parts of the world, weighed down by inflation, lockdowns in China’s industrial, tech, and shipping centers, and disruptions due to the Ukraine war, The Wall Street Journal reported. The economies of Germany, the U.K., and U.S. are among those afflicted. Manufacturers are grappling with shortages and higher costs for...
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BOSSES’ DILEMMA: HOW TO COMPEL WORKERS BACK TO THE OFFICE
As many as one in three U.S. employees labored at home during the COVID War. Work got done, even though managers were unable to keep eyes on their staff. For many, that autonomy will continue. Of 91 companies surveyed by real estate consulting firm Cushman & Wakefield, 78 have adopted hybrid work models, enabling employees...
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DEMAND FOR TRUCK HAULING EASES UNEXPECTEDLY
The Cass Freight Index, which measures demand for trucking services, crept up 0.6 percent in March, compared to an 8.6-percent rise in February. At the same time, spot rates for space on trucks fell 37 percent in March from the month before, according to a Bank of America (BoA) analysis. The report also found that...
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STUDY: U.S. BILLIONAIRES ENRICH THEMSELVES THROUGH UNTAXED WEALTH
The wealth of the U.S.’s 735 billionaires has soared 62 percent in the last two years to $4.7 trillion, according to an 18 April report from nonprofit Oxfam America. At the same time, American workers have earned about 10 percent more, much of which has been gobbled by inflation, the report noted. Making matters worse,...
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HOME BUILDERS FAVOR PROFESSIONAL INVESTORS OVER INDIVIDUALS
As rising mortgage interest rates, record-high home prices, and inflation squeeze more and more individuals and families out of the house-buying market, home builders are turning to professional investors to replace them. Investors buy homes in popular markets and nice neighborhoods, then rent them to people who want to live in a single-family home with...
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OLDERS COMING BACK TO WORK
The number of Americans aged 55 or older who are working or actively looking for a job edged up from 38.4 percent last October to 38.9 percent in March, the U.S. labor department reported. About 500,000 people in that age group “unretired” into the labor force in the last six months, the department said. The...
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JPMORGAN PROFITS DOWN 42 PERCENT ON $900-MILLION SET-ASIDE
Despite what CEO James Dimon reported to be strong credit card sales and low delinquency rates on loans, JPMorgan Chase reported a 42-percent drop in profits after surprising analysts by setting aside $900 million to cover an expected increase in loans that might go bad. A year earlier, the bank released $5.2 billion it had...