Globally, total private- and public-sector debt as a share of GDP rose from 200% in 1999 to 350% in 2021, the economist Nouriel Roubini says.
New year, new Social Security rules.
Cannabis investors today are reacting to a historic development in the industry on Friday. Tilray shares soared nearly 12%, while Aurora and SNDL stocks were up between about 6% and 7% in early trading.
A strong jobs report has investors questioning how soon the Federal Reserve will be able to ease its rate hiking campaign. Shares of United Parcel Service (NYSE: UPS) got caught in the downdraft, down as much as 3.7% on Monday. Through much of 2022, the market has moved based on sentiment about the Fed, and specifically about whether the central bank's rate-hiking campaign will throw the economy into a recession.
Bank of America analysts said on Monday that the S&P 500 could tumble another 20% from current levels in coming months if the U.S. enters a recession.
(Bloomberg) -- The US is prepared to assist Ukrainians as they are about to enter “a brutal winter,” White House Chief of Staff Ron Klain said Monday night. Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernStocks Hit by Fed-Hike Jitters as US Yields Surge: Markets WrapAmbitious Plans to Build Indonesia a Brand New Capital City Are Falling ApartElon Musk’s Impossible Electric Truck Is Getting the Last LaughBlasts Hit Russia Air Bases as Kremlin Renews
WASHINGTON (Reuters) -The U.S. Army on Monday awarded the contract for its next-generation helicopter to Textron Inc's Bell unit, ending a years-long competition for the technology that will replace the Black Hawk utility helicopter. The Army's "Future Vertical Lift" competition aimed at finding a replacement as the Army looks to retire more than 2,000 medium-class UH-60 Black Hawk utility helicopters built by Sikorsky since the 1970s. The Army was looking for an aircraft capable of moving about a dozen troops 400 nautical miles.
It's been a long wait for investors betting that Congress would ease federal restrictions on cannabis businesses, but momentum seems to be building now.
Here are three stories to watch on the political front this week.
A parcel of economic data awaits Wall Street this week as investors inch closer to the Federal Reserve’s final rate-setting meeting this year.
After a punishing 2022, it may be time to bet on bonds backed by the U.S. government, particularly if a recession hits, according to Truist Advisory Services.
Sen. John Kennedy (R-La.) was a part of Georgia Senate candidate Herschel Walker’s final campaign push on Sunday afternoon, two days before the runoff vote between him and sitting Georgia Sen. Raphael Warnock (D). While Walker himself had a number of odd things to say over the weekend, it looks like fake folksy Kennedy was intent on adding his voice to the bizarre chorus.
Kari Lake promises to keep fighting the election in court. Lawyers that might help her would be wise to consider what a federal judge just did.
(Bloomberg) -- The White House says it supports an effort to attach previously stalled legislation to fast-track energy projects backed by West Virginia Senator Joe Manchin onto a must-pass defense bill. Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernStocks Hit by Fed-Hike Jitters as US Yields Surge: Markets WrapAmbitious Plans to Build Indonesia a Brand New Capital City Are Falling ApartElon Musk’s Impossible Electric Truck Is Getting the Last Lau
Facebook parent Meta Platforms Inc on Monday threatened to remove news from its platform if the U.S. Congress passes a proposal aimed at making it easier for news organizations to negotiate collectively with companies like Alphabet Inc's Google and Facebook. Sources briefed on the matter said lawmakers are considering adding the Journalism Competition and Preservation Act to a must-pass annual defense bill as way to help the struggling local news industry. Meta spokesperson Andy Stone in a tweet said the company would be forced to consider removing news if the law was passed "rather than submit to government-mandated negotiations that unfairly disregard any value we provide to news outlets through increased traffic and subscriptions."
(Bloomberg) -- The attacks that left two electrical substations in North Carolina riddled with gunfire and knocked out power to 45,000 homes and businesses underscores the fragility of US grids, experts said Monday.Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernStocks Hit by Fed-Hike Jitters as US Yields Surge: Markets WrapAmbitious Plans to Build Indonesia a Brand New Capital City Are Falling ApartElon Musk’s Impossible Electric Truck Is Getting t
Capital’s residents shelter underground to avoid latest air strikes
The decision from OPEC+ to maintain output cuts of two million barrels per day could impact the decline in gas prices, which is an average of $3.40 per gallon.
“Inflation remains a problem. Yes, it’s coming down, but it’s not coming down fast enough,” economist Mohamed El-Erian warned over the weekend, pointing to the stronger-than-expected jobs report as evidence.
Global stocks and Treasury prices fell on Monday as new evidence of a strong U.S. economy raised fears that interest rates will stay higher for longer, eclipsing China's easing of pandemic restrictions. U.S. services industry activity unexpectedly picked up in November, with employment rebounding, in the latest sign of underlying economic momentum that could keep the Federal Reserve on alert to tighten policy further as it fights high inflation.