An inflation gauge the Federal Reserve follows closely rose slightly less than anticipated in February, providing some hope that interest rate hikes are helping ease price increases. The personal consumption expenditures price index excluding food and energy increased 0.3% for the month, the Commerce Department reported Friday. That was below […]
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This tax move is a ‘game changer’ for freelancers and gig economy workers, advisor says
Marko Geber | DigitalVision | Getty Images If you’re a freelancer or contract worker, there are still ways to lower your 2022 tax bill — including contributions to a retirement plan improved by legislation passed in December. One of the provisions from Secure 2.0 included a change to solo 401(k) […]
Wimbledon lifts ban on Russian and Belarusian players who will compete as ‘neutral athletes’
The Wimbledon logo amongst flowers The Championships at All England Lawn Tennis and Croquet Club on July 10, 2019 in London, England. Visionhaus | Getty Images Wimbledon has lifted a ban on Russian and Belarusian players from its tournament this year, with players agreeing to sign neutral declarations. Last year, […]
China’s chip industry will be ‘reborn’ under U.S. sanctions, Huawei says, confirming breakthrough
The U.S. has placed major chip export restrictions on Huawei and Chinese firms over the past few years. This has cut off companies’ access to critical semiconductors. Jaap Arriens | Nurphoto | Getty Images China’s chip industry will be “reborn” as a result of U.S. sanctions, a top boss at […]
Euro zone price rises cool significantly in March, but core inflation hits record high
A market stall in Madrid, Spain. Analysts digest the latest inflation numbers out of the euro zone. Europa Press News | Europa Press | Getty Images Inflation in the euro zone dropped significantly in March as energy prices continued to fall, while core expenses picked up to an all-time high. […]
Huawei reports biggest profit decline ever as U.S. sanctions, pandemic controls hit Chinese giant
Huawei’s revenue stabilized in 2022 as the company diversified into new areas like cloud computing and automotive technology. But its profit plunged as pressure from U.S. sanctions and China’s pandemic controls weighed on the Chinese technology giant. Joan Cros | Nurphoto | Getty Images Huawei reported on Friday its biggest […]
Britain to join Indo-Pacific trade bloc in biggest trade deal since Brexit
A Union Jack flag flies near the Elizabeth Tower, commonly referred to as Big Ben, at the Houses of Parliament in central London, U.K., on March 29, 2017. Justin Tallis | AFP | Getty Images Britain struck a historic trade deal to join a vast Indo-Pacific trade bloc after nearly […]
World Bank raises growth forecast for East Asia, says banking sector is sound despite global stress
The World Bank said “the most immediate challenge” for the region is the growing division between the U.S. and China. Anadolu Agency | Anadolu Agency | Getty Images The World Bank expects East Asian and Pacific economies to grow more than it previously estimated, thanks to a sharp rebound in […]
China’s steel demand is set to slow. That could dent iron ore prices by nearly 30%
Workers process seamless steel pipes at a production line in Huai ‘an, Jiangsu province, China, Oct 20, 2022. CFOTO | Future Publishing | Getty Images Iron ore prices could fall as much as 28% by the end of 2023 as China’s steel demand and output are set to fall, experts […]
Comparing salaries — and uncovering gender pay gaps — could be easier under these new EU rules
Many companies still aren’t transparent about salaries, but new rules could change this in Europe. Mstudioimages | E+ | Getty Images Many companies still aren’t transparent about salaries — to the frustration of employees wanting to ensure they are being paid fairly. But there are signs of change as pay […]