Economy

The U.S. economy generated about 272,000 jobs in May, significantly surpassing analysts' expectations of 185,000. This unexpected surge in job creation led to concerns among investors that the Federal Reserve may delay interest rate cuts. As a result, the benchmark S&P 500 experienced fluctuations in the immediate aftermath of the report, with U.S. Treasury yields
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China's exports saw a significant increase in May, marking the second consecutive month of growth. This growth, which amounted to a 7.6% year-on-year increase in export value, signifies that factory owners in China are successfully finding buyers overseas. These positive export figures have provided some relief to the economy as it continues to strive for
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The Asian stock market experienced a boost on Wednesday. This was mirrored by a stable performance of the dollar amidst concerns about a potential interest rate cut by the Federal Reserve in September. Despite this positive trend, apprehensions about a slowdown in the U.S. economy limited risk appetite among investors. In Asia, the focus was
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Recently, the Consumer Financial Protection Bureau (CFPB) made an announcement regarding the creation of a public database that aims to identify nonbank financial companies involved in violating consumer laws. This new regulation requires a wide range of financial services companies, such as debt collectors, mortgage lenders, and credit reporting agencies, to report any actions taken
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In May, Australian home prices experienced a significant increase, marking the largest monthly gain since October. Data from property consultant CoreLogic revealed that national home prices rose by 0.8%, extending the growth streak to sixteen consecutive months. Compared to April, when prices saw a 0.6% increase, the current figures show a steady upward trend. Year-on-year,
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The Russian government's decision to soften requirements for mandatory sales of foreign currency for exporters has raised questions about the efficacy of capital controls in the country. President Vladimir Putin signed a decree in October mandating the reintroduction of capital controls to prop up the rouble and address capital outflows. However, the recent changes to
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The global equities index, MSCI, saw a notable rebound in afternoon trading as investors repositioned themselves for month-end activities. Initially in the red, the MSCI All Country World Price Index turned positive towards the end of the session before Wall Street trading closed. The index was up 0.57% at 785.54, showcasing a strong recovery from
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China's manufacturing activity took an unexpected hit in May, raising concerns about the need for additional stimulus to revive the economy. The official manufacturing purchasing managers' index (PMI) fell to 49.5 in May from 50.4 in April, falling below the 50-mark that separates growth from contraction. This disappointing result was also below analysts' forecast of
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The recent election projections in South Africa have sparked significant political uncertainty, resulting in a decline in the country's currency, stocks, and bonds. The African National Congress (ANC) is facing the possibility of losing its parliamentary majority for the first time in 30 years, which could have far-reaching implications for the nation's economic and fiscal
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