News

According to a recent report on household debt from the Federal Reserve Bank of New York, Americans are now grappling with a staggering $1.08 trillion in credit card debt. This marks a significant year-over-year increase of $154 billion, representing the most substantial surge since 1999. Donghoon Lee, the economic research advisor at the New Yo…

New data from the Mexican Social Security Institute (IMSS) reveals that Mexico's formal sector employment reached an all-time high, with over 22.3 million people currently employed. In October alone, more than 173,000 new jobs were added, making it the fourth-best October for job creation. However, it's worth noting that the total number of new pos…

As financial pressures mount, an increasing number of Americans are dipping into their retirement nest eggs to address urgent financial needs. The latest analysis by Bank of America of its clients' employee benefit programs reveals a 13% surge in 401(k) plan participants resorting to hardship distributions between the second and third quarters. Thi…

On Tuesday, the International Monetary Fund (IMF) increased its 2023 growth projection for China to 5.4%, acknowledging the nation's third-quarter growth and recent policy actions in Beijing. However, the International Monetary Fund (IMF) also issued a warning regarding persistent challenges in the real estate sector. Despite the upward revision…

Foreign investors are cautiously reentering Asian equities this November, marking a turnaround from a three-month trend of heavy selling. This shift in sentiment comes as concerns ease over aggressive interest rate hikes in developed markets, reigniting risk appetite. There is a growing belief that U.S. policy rates may have reached their peak, …

As 2023 approaches its end, signs of sluggish trade and manufacturing activities have emerged in several major exporting nations, raising concerns about the elusive recovery in global commerce. China, one of the world's key export players, experienced a 6.4% year-over-year drop in exports in October, a figure worse than anticipated and comparabl…

Adam Neumann was a key player in WeWork's meteoric rise and dramatic descent into Chapter 11 bankruptcy protection on Monday. The former CEO of WeWork established the business in 2010 and, primarily by sheer force of personality, built a real estate conglomerate that peaked in January 2019 at a valuation of $47 billion. Merely valued at $45 mill…

In a surprising turn of events, Bumble founder Whitney Wolfe Herd has announced her decision to step down as CEO of the dating app giant, triggering a 10% drop in the company’s shares. Wolfe Herd will be succeeded by experienced executive Lidiane Jones, who currently serves as the CEO of Salesforce-owned Slack and boasts an impressive career, inclu…

The U.S. stock market had an exceptional week, marking the best performance of 2023 as Treasury yields took a tumble, sparking hopes for an early “Santa rally” to close the year. However, while many investors are optimistic, some remain skeptical about the sustainability of this rebound. Jason Hsu, Chief Investment Officer at Rayliant, expressed…

Ride-sharing giants Uber and Lyft have reached an agreement to settle a significant wage theft case in New York. The New York Attorney General’s office led the investigation, which revealed that both companies had systematically deprived their drivers of rightful wages and benefits. The settlements, totaling $328 million, will impact over 100,000 c…