Consumer confidence in the US fell to 101.3 in April from 104 in March, according to data released by The Conference Board on Tuesday.[0] The drop in the consumer confidence index, which measures attitudes towards the economy and the job market, has been driven by a growing pessimism about the short-term outlook for business and […]
Continue reading After more than 50 years of business, Bed Bath & Beyond has filed for bankruptcy due to financial struggles.[0] The once unstoppable retailer, known for its blue-and-white paper coupons, will close its 360 Bed Bath & Beyond stores and 120 BuyBuy Baby stores.[1] The company had been losing both money and shoppers for months, struggling […]
Continue reading After more than 50 years in business, Bed Bath & Beyond has filed for bankruptcy due to financial struggles.[0] The company has been warning about its future for months and has finally taken the difficult decision to begin winding down its operations. The brand plans to close its 360 Bed Bath & Beyond and 120 […]
Continue reading House Speaker Kevin McCarthy, a Republican from California, has recently announced that the House will vote on a bill to raise the debt ceiling through the year while cutting government spending. However, most believe that Democrats and President Joe Biden are unlikely to agree to the proposal.[0] Like most Republicans, McCarthy will likely be forced […]
Continue reading House Speaker Kevin McCarthy has unveiled a bill aimed at raising the debt ceiling by $1.5 trillion or until March 31, 2024, whichever comes first. The bill also includes $4.5 trillion in spending cuts, which include strengthened work requirements on welfare programs, rescinding unspent pandemic funds, and banning student-loan forgiveness.[0] The bill, called the Limit, […]
Continue reading The latest data from the US Department of Labor has shown that continuing claims, or the number of people who have already filed an initial application and are now claiming unemployment benefits, rose by 61,000 to 1.87 million in the week ended April 8. Insight into the speed at which unemployed Americans secure a new […]
Continue reading According to the United Nations’ new ‘State of World Population’ report, India is set to overtake China as the world’s most populous country by the end of June.[0] India’s population is expected to reach 1.4286 billion, compared to China’s 1.4257 billion by the middle of this year.[1] As per government data cited by Reuters, India […]
Continue reading China’s economy grew by 4.5% year-on-year in the first quarter of 2023, beating analyst forecasts and indicating that the world’s second-largest economy is firmly on the path to recovery after the end of Beijing’s strict “zero-COVID” policies.[0] The growth rate is higher than the average 3.8% estimate from a recent Caixin survey of economists and […]
Continue reading The Israeli government’s efforts to reform the country’s judiciary have caused concern among credit rating agencies, potentially impacting the nation’s economy. Moody’s, in particular, warned that the planned changes could “materially weaken the strength of the judiciary and as such be credit negative,” and also pose longer-term risks for Israel’s economic prospects, particularly capital inflows […]
Continue reading The Federal Reserve (Fed) released the minutes from its March 21-22 monetary policy meeting, which revealed that the central bank expected a “mild recession” later this year before the economy would recover over the next two years. Fed economists projected this outcome due to “the potential economic effects of the recent banking-sector developments.” The banking […]
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