Slowing population growth across the globe could have a major impact on real interest rates, according to new research from JP Morgan. With more old people saving for retirement and fewer young people borrowing for things like properties, cars and education, demographics are weighing heavy on interest rates in a […]
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Brazil braces for renewed Covid surge as Bolsonaro faces parliamentary inquiry over pandemic response
Brazilian president Jair Bolsonaro is undergoing a probe carried by the Congress on mismanagement of the pandemic. Andressa Anholete | Getty Images News | Getty Images Health experts fear Brazil’s Covid-19 catastrophe could get even worse in the coming months, while a parliamentary inquiry into the government’s response to the […]
Singapore says it’s ‘very likely’ planned travel bubble with Hong Kong will be further delayed
A woman jogs past a cordoned off Merlion Park on June 12, 2020 in Singapore. Suhaimi Abdullah | Getty Images SINGAPORE — Singapore’s government said Friday it’s “very likely” that the air travel bubble with Hong Kong will not begin on May 26, as the Southeast Asian city-state further tightens […]
Chinese electric car company Xpeng predicts chip shortage will last another quarter
Xpeng Motors launches the P5 sedan at an event in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third production model and features so-called Lidar technology. Arjun Kharpal | CNBC BEIJING — Chinese electric car start-up Xpeng expects the global chip shortage will persist for at least another […]
Dow futures jump more than 100 points after major averages snap 3-day losing streak
U.S. stock futures were higher in early morning trading on Friday, after all three major averages snapped three-day losing streaks. Futures contracts tied to the Dow Jones Industrial Average jumped 129 points. S&P 500 futures and Nasdaq 100 futures also traded in positive territory. During regular trading, the Dow advanced […]
Chip shortage expected to cost auto industry $110 billion in revenue in 2021
The ongoing semiconductor chip shortage is now expected to cost the global automotive industry $110 billion in revenue in 2021, according to consulting firm AlixPartners. The forecast is up by 81.5% from an initial forecast of $60.6 billion, which the New York-based firm released in late January when the parts […]
Tesla’s Model Y slumps in China sales rankings, data shows
Zang Yi charges her Tesla car at a charging point in Beijing, China, April 13, 2018. Thomas Peter | Reuters BEIJING — Sales of Tesla‘s newest model for the Chinese market lost steam in April, according to data from China’s Passenger Car Association. The budget Wuling Hongguang Mini EV held […]
Already under massive stress from the virus, more Indian workers turn to ‘gig economy’ livelihoods
Tech workers in India. Frédéric Soltan | Corbis News | Getty Images India’s work culture is at an inflection point. The coronavirus pandemic is shaking up the country’s labor force, shifting the focus sharply to gig economy jobs — or on-demand, part-time work given to contract workers. The global embrace […]
Rep. Matt Gaetz friend Joel Greenberg will plead guilty in case that led to sex traffic probe, court records show
Joel Greenberg, a friend of Rep. Matt Gaetz, has agreed to plead guilty in a criminal case connected to the federal sex-trafficking investigation of the Republican lawmaker and Trump ally, court records show. Greenberg is scheduled to appear Monday morning in federal court in Orlando, Florida, for a change of […]
New CDC mask guidelines acknowledge that ‘vaccinated people can go back to normal,’ says doctor
The Centers for Disease Control and Prevention’s updated masking guidelines mark a significant shift in the pandemic, the dean of Brown University’s School of Public Health said Thursday. “Basically, it’s acknowledging that vaccinated people can go back to normal, and can do most of the things we were doing pre-pandemic, […]