News

Germany is poised to navigate through its initial two-year recession since the early 2000s, following a contraction in its economy in 2023, influenced by the repercussions of heightened energy costs and weakened industrial demand. According to the German national statistics office, a confluence of "multiple crises" has contributed to a 0.3% decl…

In the wake of navigating through inflation and escalating prices, Americans are expressing increased optimism about their financial prospects in 2024, prompting a surge in financial resolution-setting, as revealed by a recent survey conducted by Edward Jones. The survey found that approximately 80% of Americans established at least one financial r…

(Source - Forbes) Sec gives bitcoin ETFs approval, After a temporary setback on Tuesday, the Securities and Exchange Commission (SEC) granted approval on Wednesday for several investment firms to offer "spot bitcoin" exchange-traded funds (ETFs). This widely anticipated move is poised to democratize bitcoin investing, making it more accessible t…

On Thursday at 8:30 a.m. ET, the latest inflation figures are poised for release, becoming a pivotal factor for investors seeking insights into the Federal Reserve's potential interest rate adjustments. Forecasts for the December Consumer Price Index (CPI) suggest a marginal uptick in annual headline inflation to 3.2%, compared to the previous mont…

Amazon is cutting jobs at its Prime Video and MGM Studios divisions, according to a memo sent by Mike Hopkins, the head of these units. The memo, viewed by CNBC, revealed that the company is eliminating several hundred roles to prioritize long-term business success. Hopkins stated that the decision comes after a thorough review of the business to e…

(Source-CNBC) In the ongoing battle for public opinion on the economic front, the Biden campaign has launched a scathing critique of former President Donald Trump's recent prediction of an impending economic crash. Trump's assertion that he hopes for an economic downturn before potentially assuming office for a second term has provided the Biden…

In a concerning financial trend, the total credit card balances in the United States have surged to a record-breaking $1.08 trillion, as reported by the latest quarterly update from the Federal Reserve Bank of New York. Over the past two years, Americans' credit card balances have witnessed an alarming 40% increase, according to insights provide…

(Source-PhillyVoice) Philadelphia-based radio giant Audacy has initiated bankruptcy proceedings, citing a significant downturn in advertising revenue. The company, known for its extensive podcast and radio operations and having acquired CBS Radio, filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas. This m…

Source-Business-Standard) As the year came to a close, the national debt in the United States reached a new record high, standing at a staggering $33.9 trillion. This figure comprises $26.9 trillion in debt held by the public and an additional $7 trillion accounting for intragovernmental holdings – essentially, debt that the Treasury owes to oth…

(Source-The-Economic-Times) Federal labor authorities accused SpaceX on Wednesday of unlawfully terminating eight employees who circulated a critical letter about the company's founder and CEO, Elon Musk. The National Labor Relations Board (NLRB) filed a complaint, stating that SpaceX fired the employees in 2022 for calling on the company to dis…