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The late Nobel Prize-winning economist Paul Samuelson once quipped that Wall Street had predicted nine out of the last five recessions. This time, the stock market may be right.
China’s move to slash a key interest rate by a record amount is improving the outlook for the nation’s assets as it raises hope that real support for the economy is starting catch up with policymakers’ rhetoric.
Chinese banks cut a key interest rate for long-term loans by a record amount, a move that would reduce mortgage costs and may boost weak loan demand amid a property slump and Covid lockdowns.
New Zealand will narrowly avoid recession next year as rising interest rates and falling house prices hit demand, according to the Treasury Department.
Luxury mall developer Rick Caruso says California should return money from its $98 billion surplus to taxpayers as he vows to fight homelessness and crime
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