Federal job cuts continue this week with President Trump signing an executive order on March 14 stating “the following government entities shall be eliminated… and such entities shall reduce the performance of their statutory functions and associated personnel to the minimum function presence.”
Thanks to a new flurry of stimulus measures, China’s economy is likely to expand by 5.4 percent this year, the International Monetary Fund (IMF) said, upgrading its number from its 5.0-percent forecast last fall.
Canada’s economy needed only 1,100 new workers in February, frustrating analysts’ expectations that the country would add 20,000 jobs for the month. The unemployment rate held steady at 6.6 percent.
On 6 March, the European Central Bank (ECB) shaved a quarter point off its key interest rate, dropping it to 2.5 percent.
U.S. investors greeted Donald Trump’s re-election with joy, anticipating tax cuts, fewer regulations, and soaring profits. Stock prices climbed even further beyond the value of companies’ future earnings. The difference between stock prices and the price of government bonds widened to its greatest in 20 years.
As Germany enters what is likely to be a third year of recession, new chancellor-in-waiting Freidrich Merz has chucked the financial caution that ruled preceding administrations.
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
The U.S. economy added 151,000 jobs in February, the U.S. Bureau of Labor Statistics reported on Friday. Employment was up in health care, financial activities, transportation and warehousing, and social assistance.
Life’s good if you’re a card-carrying member of The Club.
Hong Kong has built a reputation as a tax haven. The highest income tax rate is 17 percent. It charges no sales or capital gains taxes.