The US economy might be heading into a consumer-led slowdown, according to Macquarie strategist Thierry Wizman. He predicts that this downturn could happen between now and the end of the first quarter in 2024. American consumers appear to be slowing down, showing signs of a spending recession as they deplete their savings. Wizman pointed out …
The Federal Reserve maintained its benchmark interest rate on Wednesday in a range of 5.25%-5.50%, the highest in 22 years, while leaving the door open for further action as officials work to bring inflation back to the central bank’s 2% target. In its statement on Wednesday, the Fed upgraded its assessment of the economy to …
This year in Canada, the month of September holds significance for two reasons. First, there is mounting pressure on the Toronto Blue Jays as they strive to secure a wild card spot for the MLB postseason. Second, economists are analyzing data to update their forecasts on the potential decline in the economy. According to Statistics …
Walmart Inc, the world’s largest retailer, reported better-than-expected second-quarter sales and profits, leading to an increase in its full-year forecasts. The company attributed its success to strong demand for its affordable groceries and health and wellness products. Despite a 12.3% increase in Walmart’s stock this year, shares were slightly down in morning trading. Art Hogan, …
If you’ve been active on TikTok, chances are you’ve come across the trend of women explaining and justifying their spending habits using “girl math.” This trend seems to have started from clips by a New Zealand radio show called “Fletch, Vaughan & Hayley.” In these segments, callers share the price of big purchases and the …
Santa Claus is taking his online presence to another level by livestreaming on TikTok. With 1.3 million followers, Santa is hoping his fans will send him digital gifts using TikTok Coins. While he livestreams, Santa rarely mentions anything about Christmas and instead focuses on promoting his subscriber-only chat. But Santa’s livestreaming isn’t the only strange …
Introducing Work in Progress, a curated newsletter by Derek Thompson that covers important topics such as work, technology, and innovative solutions for America’s biggest problems. Don’t miss out on this weekly newsletter by signing up here! In 2022, there was widespread belief that the economy in 2023 would be a complete disaster. Last year, a …
Loblaw Companies Ltd. has announced an increase in costs due to double-digit price hikes from its suppliers, particularly large global brands. CFO Richard Dufresne explained that the company has experienced noticeable price increases over the past couple of years as a result. Dufresne also mentioned that one of the company’s largest vendors implemented price increases …
The United States is embarking on a new chapter in its economy with the Federal Reserve raising its benchmark interest rate. In July 2023, the federal funds effective rate surpassed 5%, marking a significant shift after four decades. Economists predict that as interest rates continue to rise, financial conditions will return to a more normal …
The Bank of Canada’s recent decision to raise interest rates was based on the unexpectedly strong consumer spending, which is showing no signs of slowing down according to the latest retail data. The central bank’s governing council reviewed economic data and concluded that the previous benchmark rate was not restrictive enough to reach its target …