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U.K. inflation rose at the fastest rate in at least 24 years in August, according to data released Wednesday.
The Biden administration still has billions available in other pandemic relief.
Social Security recipients should get a major cost-of-living adjustment next year amid a steep rise in the prices of everything from gasoline and cars to bacon. See: Social Security Cost-of-Living...
(Bloomberg) -- Emerging-market investors are about to find out whether there’s more to worry about in China than just the Evergrande debt crisis.Most Read from BloombergHow Los Angeles Became the City of DingbatsSchool Reopenings Falter as U.S. Kids Near 1 Million Covid CasesThe Rise of the Pandemic DashboardA Jewish Tradition Makes Room for Unconventional DesignBerlin Referendum Could Determine the Future of the City’s HousingOfficial and private gauges of Chinese manufacturing are due out Thur
Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.
Several local governments in China have set up special custodian accounts for property projects of its most indebted developer, Evergrande, to protect funds earmarked for housing projects from being diverted, media outlet Caixin said. Reeling under $305 billion of debt, Evergrande missed a payment deadline on a dollar bond last week, and its silence on the matter has set global investors wondering if they will have to swallow large losses when a 30-day grace period ends. The special accounts have been set up since late August in at least eight provinces where Evergrande has the most unfinished projects, the Chinese outlet said on Sunday, citing a source close to the developer's management team.
Government support kept families afloat, but many are now on their own.
Asian shares crept higher on Monday as risk sentiment turned for the better, though a surge in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks. "We forecast that this rally will continue, with our year-end Brent forecast of $90/bbl vs. $80/bbl previously," wrote analysts at Goldman Sachs in a client note. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.5%, though that followed three consecutive weeks of losses.
It’s a busier week ahead, with economic data to give more clues on whether the economic recovery has hit a speed bump. Evergrande and central bank chatter will also influence, however.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergHow Los Angeles Became the City of DingbatsSchool Reopenings Falter as U.S. Kids Near 1 Million Covid CasesThe Rise of the Pandemic DashboardA Jewish Tradition Makes Room for Unconventional DesignBerlin Referendum Could Determine the Future of the City’s HousingGlobal monetary policy looks set to stay super easy well into 2022 even as central banks edge closer to
After a year of unprecedented stimulus program spending, the country has reached its debt limit. Now, if Congress does not suspend or raise the debt ceiling, it risks missing payments to both Social...
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(Bloomberg) -- Bahrain plans to double its value-added tax to 10%, the Gulf’s highest rate after Saudi Arabia, in a bid to boost state revenue and curb one of the region’s widest budget deficits.Most Read from BloombergHow Los Angeles Became the City of DingbatsSchool Reopenings Falter as U.S. Kids Near 1 Million Covid CasesThe Rise of the Pandemic DashboardA Jewish Tradition Makes Room for Unconventional DesignBerlin Referendum Could Determine the Future of the City’s HousingThe Gulf’s smallest
The Federal Reserve hinted that it might put the brakes on its federal stimulus efforts before the end of the year and hike interest rates in 2022, but a lot depends on how upcoming jobs and economic...
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