Recent reports have indicated that Indian automaker Mahindra & Mahindra is in talks with China’s Shaanxi Automobile Group to establish a joint venture worth $3 billion to build a car manufacturing plant in India. The majority stake in this proposed venture is expected to be owned by Mahindra, with the plant potentially being set up
admin
Federal Reserve Governor Michelle Bowman recently made some interesting comments regarding inflation, showing a subtle shift in her typical hawkish stance. Despite acknowledging some progress in inflation over the past few months, Bowman still expressed concerns that inflation remains “uncomfortably above” the central bank’s target of 2%. This is an important point to consider as
The summer of 2024 has witnessed a surge in imports to the United States as retailers scramble to prepare for potential disruptions in the shipping industry. Companies are taking proactive measures to guard against a possible strike by port workers and ongoing shipping disruptions from incidents in the Red Sea. This heightened sense of urgency
Republican presidential candidate Donald Trump’s recent comments about wanting the president to have a say in Federal Reserve decisions have raised concerns about potential interference in the central bank’s independence. This move could signal a significant shift from the conventional norms surrounding the Fed’s operations and decision-making processes. Trump’s interest in having a greater role
The recent fluctuations in the foreign exchange market have left investors uncertain about the future of the U.S. dollar. Despite positive job data indicating a drop in U.S. jobless claims, the dollar was off a one-week high against other major currencies. The turbulence in the markets can be attributed to concerns about a looming economic
The American workforce faces renewed fears of a potential recession, shining a light on the vulnerable state of the unemployment benefits system. Experts warn that the system is at risk of collapsing in the face of another economic downturn, echoing the challenges experienced during the Covid-19 pandemic. While unemployment insurance serves as a crucial source
Gold prices have shown significant volatility over the past week, with a 4.4% drop followed by a 2.5% rise. This rollercoaster ride has left many investors puzzled about the future direction of the precious metal. One positive sign for gold is the quick buyer support it found after touching its 50-day moving average. This level
In a recent incident at China’s high-traffic Ningbo port, a hazardous goods container on board the YM Mobility ship exploded, leading to a fire. Thankfully, there were no reported casualties or injuries. The Taiwanese vessel owner, Yang Ming Marine Transport Corp., confirmed the explosion and stated that the fire had been brought under control. All
The latest Consumer Price Index (CPI) report from China for July has provided valuable insights into the current state of the Chinese economy. The report revealed some interesting trends that could have significant economic implications both domestically and globally. CPI and Inflation Trends According to the report, headline inflation in China increased modestly by 0.3
The GBP/USD pair has been extending its upside, trading around 1.2770 during the early European hours. This appreciation for the second successive day on Friday can be attributed to the rising expectations of the US Federal Reserve (Fed) implementing a rate cut in September. According to the CME FedWatch tool, markets are now fully pricing
In a recent analysis by ARK Invest Founder, CEO, and CIO Cathie Wood, it was suggested that the 10-year Treasury bond yield should be around 2% based on the metal-to-gold ratio. This contrasts with the current yield of 3.8% and last October’s peak of 5%. Wood’s observation raises questions about the appropriate Fed funds rate,
Jeffrey Schmid, from the Federal Reserve Bank of Kansas City, emphasized the importance of lowering monetary policy if inflation continues to come in low. This adjustment is deemed necessary in order to maintain economic stability and ensure that the dual mandate of the Fed is met. The current stance of Fed policy was described as