The Commonwealth Bank of Australia, the largest lender in the country, recently reported a decrease in its annual cash profit that was smaller than expected. Despite facing challenges such as a dip in margins and an increase in overdue home loan payments, the bank managed to declare its highest-ever dividend. This news comes at a
Economy
The currency market is currently facing a period of uncertainty as investors are eagerly awaiting the impact of the latest U.S. economic data on potential rate cuts. This has left the dollar in a state of limbo, with fluctuations in the market causing it to be as high as 147.17 yen and then dropping to
Republican U.S. vice presidential candidate JD Vance recently expressed his support for Donald Trump’s belief that presidents should have a say in Federal Reserve Board policy-making, including interest-rate decisions. This marks a departure from the long-standing tradition of maintaining the Fed’s independence from political interference. Vance argued that monetary policy should be a political decision,
Recently, India’s markets regulator, SEBI, found itself at the center of controversy following allegations made by US-based shortseller Hindenburg Research. In response to these allegations, SEBI asked investors to remain calm and exercise due diligence before reacting. The regulator emphasized the importance of not jumping to conclusions based on such reports and reassured the public
China’s bond market, the second largest in the world, has been facing significant volatility recently. The central bank’s heavy-handed intervention to prevent a sharp decline in yields has left investors on edge. Despite the struggling economy, die-hard investors believe that the bull market in government bonds still has potential due to China’s economic instability, deflationary
The recent announcement by the State Department regarding the $3.5 billion aid package to Israel for weapons and military equipment has raised eyebrows across the globe. The timing of this funding, amidst escalating tensions in the Middle East, is a cause for concern. The fact that this money was appropriated during Israel’s war in Gaza
During a campaign event in Nevada, U.S. Vice President Kamala Harris expressed her support for eliminating taxes on tips, aligning herself with her rival Donald Trump on this particular policy. This move was aimed at appealing to service workers, a crucial voting bloc in the state. Harris made a promise to support working families by
The recent decision by a federal appeals court to extend an injunction blocking President Joe Biden’s student debt relief plan has sparked a heated debate. The St. Louis-based 8th U.S. Circuit Court of Appeals granted an injunction requested by seven Republican-led states, arguing that the U.S. Department of Education’s plan exceeded its legal authority. This
During a recent press conference in Phoenix, Arizona, U.S. Vice President Kamala Harris made a statement emphasizing the importance of the Federal Reserve’s independence. She stressed that, if elected as president, she would never interfere in the decisions made by the Fed. This position is a stark contrast to the views expressed by former President
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
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