Chinese consumer spending seems to be at a standstill, despite the numerous attempts by the government to encourage citizens to spend. With household deposits slowing down and banks reducing interest rates, one would expect an increase in consumer spending. However, data suggests otherwise. Chinese households saw a decrease in the amount of money deposited in
Money
Apple recently introduced a sneak peek of its upcoming iOS 18 update, giving users and developers the chance to explore the latest features before its official release. This beta version of the software is set to accompany the launch of new iPhones this fall, providing an opportunity to identify and rectify any bugs. The most
After the incident at a rally in Pennsylvania where Donald Trump was rushed off stage due to gunshots, Elon Musk took to social media to express his full endorsement of the former president. Musk, who owns X, stated that he fully supports President Trump and hopes for his quick recovery after the tumultuous event. In
Argentina’s central bank recently announced a new strategy to sell U.S. dollars in the country’s parallel foreign exchange markets in an attempt to combat inflation and stabilize the country’s money supply. This decision marks a significant shift in the country’s monetary policy and has sparked discussions about its potential impact on the economy. Economy Minister
China’s new yuan loans are expected to more than double in June compared to May, as per a Reuters poll. Chinese banks are predicted to have issued 2.25 trillion yuan in new loans last month, up from 950 billion yuan in May. This surge is attributed to the central bank’s continuous policy support for the
Australia’s commitment to boosting investment in Pacific Island countries in support of their financial systems comes at a crucial time. The banking sector in the region is experiencing a significant withdrawal of correspondent banking services, particularly in U.S. dollar-denominated transactions. This has raised concerns about the ability of Pacific nations to engage with the global
In recent years, the number of employment scams has increased significantly. Criminals are now leveraging technologies such as artificial intelligence to trick unsuspecting job seekers into providing personal information and money. According to a report by the Identity Theft Resource Center, consumer reports of job scams surged by 118% in 2023 compared to the previous
The Biden administration recently announced that it will be imposing inflation penalties on 64 prescription drugs for the third quarter of this year. This move is aimed at lowering costs for certain older Americans who are enrolled in Medicare. President Joe Biden has been vocal about his focus on reducing drug prices in the United
In the world of stock trading, one company can have a significant impact on the entire market. Nvidia, a leading AI chip firm, saw a decline in its shares for the second day in a row, causing a ripple effect throughout the technology sector. This decline not only affected the S&P 500 and Nasdaq, but
Elon Musk found himself under scrutiny when he lashed out at advertisers considering pulling their ads from his X social media platform. Speaking at the Cannes Lions advertising festival in France, Musk clarified his previous comments by stating that his intention was to defend free speech rather than target the advertising industry as a whole.
At the midway point of the year, optimism is soaring on Wall Street. According to the recent global fund manager survey from Bank of America Securities, investors are exuding the most bullish sentiment since November 2021. Not only are they not anticipating a recession, they are also showing a strong preference for equities, especially the
The financial technology industry has undergone a significant transformation in recent years, with many industry executives and investors believing that the sector has finally reached a “bottom.” During the Money20/20 event in Amsterdam, executives shared their views with CNBC on how valuations have adjusted from unsustainable highs in the industry’s peak years of 2020 and
Ramp, the rapidly growing expense management company valued at $7.65 billion, has recently announced its foray into the realm of business travel through a strategic partnership with Booking Holdings’ Priceline. This innovative product, named Ramp Travel, leverages the power of artificial intelligence and automation to revolutionize the process of booking and managing expenses related to
Dutch digital bank Bunq has set its sights on obtaining a banking license from UK financial regulators, with hopes of achieving this milestone by the end of the year or early next year. CEO and founder Ali Niknam expressed optimism about the process, acknowledging the differences in regulatory requirements between the UK and other European