Dooms Rate Cuts
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Gold Steady as Rate-Cut Hopes Wane
Gold was steady. After hitting new highs, gold “immediately withdrew back” as Fed speakers overnight warned that rate cuts are still some way down the road, DailyFX said.The Wall Street Journal - World -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
Gold Futures Set New Record on China Debt, Rate-Cut Hopes and Geopolitical Fears
Gold futures reached a new record settlement as Chinese investors flock to safe havens, rate-cut hopes grow and geopolitical tensions mount.The Wall Street Journal - World - China -
BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
The Properties High Interest Rates Can't Touch
Competition to buy the world’s most exclusive stores is intense despite modest rent growth.The Wall Street Journal - World -
China Benchmark Lending Rates Held Steady
The country’s benchmark lending rates were held steady this month, central bank data showed Monday after Beijing announced bold moves to address property-sector malaise.The Wall Street Journal - World - China -
How should countries deal with falling birth rates?
As the UK and US continue to see falling birth rates, options to deal with the issue are limited.BBC News - Top stories -
RBA Elected Not to Fine Tune Rates at Policy Meeting
The Reserve Bank of Australia has warned that risks around the inflation outlook have risen, while uncertainty around the economy’s trajectory more broadly remains highly elevated.The Wall Street Journal - World -
Hunt hints at another National Insurance tax cut
Jeremy Hunt promises further tax cuts, as he launches an attack on Labour's plans ahead of an election.BBC News - Top stories -
Tiger Woods will miss the cut at the PGA Championship at Valhalla
Tiger Woods will miss the cut at the PGA Championship at ValhallaABC News - Sports - Golf -
Auto incentives are back — but high interest rates weaken deals for buyers
Incentives are coming back to the auto market, but interest rates remain high, corroding the benefits for buyers. Here are three things shoppers can do.CNBC - Business -
Britt: High maternal mortality rate 'American issue,' not Democrat or Republican
Sen. Katie Britt (R-Ala.) encouraged elected officials to work across the aisle in tackling the United States's high maternal mortality rate during a panel discussion Thursday on maternal mental health. “I think it is so important that we ...The Hill - Politics -
How to immunize your bond ETF if interest rates turn higher
Tips to hedge a portfolio against interest rate fluctuations.MarketWatch - Business -
Chelsea’s 2023-24: player ratings for Women’s Super League title winners
From Hannah Hampton to Maika Hamano we look at the players who won Chelsea their fifth consecutive league title . Hannah Hampton Brought in from Aston Villa in the summer, it looked as if she would have to settle for little game time with two more ...The Guardian - World - NFL -
Japan Government Bond Yields Climb on Expectations BOJ Could Reduce Bond Purchases
Japanese government bond yields rose on expectations the Bank of Japan could lower its bond buying in the coming months to support the weakening yen, Deutsche Bank Research said.The Wall Street Journal - World -
Ship Freight Rates Soar as Red Sea Diversions Become a Norm
Cargo owners and shipping lines expect disruptions for the rest of the year, adding time and costs to ocean routes.The Wall Street Journal - World -
Will mortgage rates fall in 2024? Here's what Freddie Mac predicts.
Demand for buying a home will remain strong in 2024 even though mortgage rates have been around 7% this year.CBS News - Top stories - Mortgage -
USD/JPY's Medium-Term Uptrend Appears Intact, Charts Show
USD/JPY’s medium-term uptrend since the Dec. 28, 2023 low of 140.25 appears intact as its price movements have continued to oscillate within an ascending channel, based on technical charts, Oanda said.The Wall Street Journal - World -
Hunt to claim only Tories will cut UK tax burden after the election
Chancellor to attack Labour in keynote speech after canvassing tech bosses’ views on growth measuresFinancial Times - Business - United Kingdom -
Replit cuts staff by 30 amid aggressive AI push in software development
Replit, a cloud-based software development platform, lays off 30 employees as it focuses on integrating AI into its coding tools, aiming to make programming more accessible.VentureBeat - Tech -
Hunt signals pre-election tax cut as Tories move on to campaign footing
UK chancellor accuses Labour of ‘a lie’ and funding ‘black hole’ in political speechFinancial Times - Business -
As Tesla layoffs continue, here are 600 jobs the company cut in California
The latest wave of Tesla layoffs hit an array of departments, impacting factory workers, software developers and robotics engineers. Read the WARN filing here.CNBC - Business - California -
Grab Sees Generative AI Boosting Cost-Cutting Drive
Southeast Asian ride-hailing and delivery specialist Grab Holdings is using generative artificial intelligence to trim expenses and boost a cost-cutting drive in its continuing bid to achieve profitability.The Wall Street Journal - World -
As Tesla layoffs continue, here are 600 jobs the company cut in California
As part of Tesla’s massive restructuring, the electric-vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices ...NBC News - Top stories - California -
Grab Sees Generative AI Boosting Cost-Cutting Drive
Southeast Asian ride-hailing and delivery specialist Grab Holdings is using generative artificial intelligence to trim expenses and boost a cost-cutting drive in its continuing bid to achieve profitability.The Wall Street Journal - Business -
Tiger (77) has 2 triple-bogeys, misses cut at PGA
After posting his 11th consecutive round of par or worse in a major championship with a 6-over 77 in the second round of the PGA Championship, Tiger Woods is headed home on the weekend again.ESPN - Sports - Golf -
House Democrat says cutting federal funds for Harvard 'needs to be on the table'
Rep. Jake Auchincloss (D-Mass.) on Sunday said cutting federal funds for Harvard University and other schools should be an option "on the table" over their handling of campus antisemitism. Auchincloss, who is an alum of Harvard, visited the Ivy ...The Hill - Politics -
Companies warn against immigration cuts as Trump plans crackdown
Business groups say US economy remains dependent on foreign workers as migration becomes election issueFinancial Times - World - Donald Trump -
Target to cut prices on 5,000 items in bid to lure cash-strapped customers
Target joins other retailers and other major businesses moving to slash prices as inflation-weary consumers grow thriftier.CBS News - Top stories -
Telstra to Cut Jobs to Save Costs Amid Enterprise Overhaul
The Australian telecommunications company plans to cut 2,800 jobs as part of a continuing strategic review, helping cut $233.4 million in costs.The Wall Street Journal - World -
Mortgage rates fall to the lowest level in a month, but ‘home buyers are still feeling the pressure’ from high home prices
The 30-year mortgage rate is averaging at 7.02% Freddie Mac said in its latest weekly survey on Thursday.MarketWatch - Business -