Economy

US jobless claims fall to 52-year low; unemployment rate drops to 4.6%

 US jobless claims fall to 52-year low; unemployment rate drops to 4.6%

US weekly jobless claims fell to a 52-year low as the economy rebounds from the covid effects. On Wednesday, the Labor Department said the jobless benefits claims declined by 71,000 to 199,000 last week, the lowest level since November 1969. The ...

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Will Biden’s US$1 tr new infra law impact crypto market?

Will Biden’s US$1 tr new infra law impact crypto market?

President Joe Biden signed a US$1.2 trillion bipartisan infrastructure bill into law on Monday after more than a year of discussions with lawmakers. Besides improving the infrastructure, it is expected to spur economic growth and create jobs. Of ...

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Glasgow summit: COP26 climate pact in a nutshell

Glasgow summit: COP26 climate pact in a nutshell

After being overrun by a day, Saturday bought an end to the COP 26 UN Climate Change Conference hosted by the UK in Glasgow. Government representatives, negotiators, businesses, and citizens from all over the world came together at the summit ...

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Will 2022 be a normal year for world economy?

Will 2022 be a normal year for world economy?

The present world economy is looming as several market changes are taking place around the globe. Be it the energy crisis, or the fall of China’s property market or the high inflation in most economies; economists are in an acute situation to...

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How banks can prepare for crypto transformation

How banks can prepare for crypto transformation

Highlights Banks can’t stay away from cryptocurrencies any longer due to the growing customer demand. Financial organizations must update their systems for crypto transactions. Volatility in the cryptocurrency market will be a major cha...

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US inflation hits 30-year high; CPI climbs 6.2%

US inflation hits 30-year high; CPI climbs 6.2%

Highlights US inflation hit a 30-year high in October, the latest Labor Department data showed. The US Consumer Price Index (CPI) rose at an annualized rate of 6.2% YoY in October, the highest since 1990. The short-term US government bond yiel...

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How global banks can help in controlling greenhouse gas emissions

How global banks can help in controlling greenhouse gas emissions

Amid the ongoing COP26 UN Climate Change Conference being hosted by the UK , hundreds of the biggest banks and pension funds across the globe have come together to mitigate the greenhouse gas emissions with financial assets worth US ...

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95% mortgage: All you need to know

95% mortgage: All you need to know

Highlights  A 95% mortgage refers to Loan-to-value (LTV) of owning a house, 95% of the house price will be covered by a mortgage, while 5% of the mortgage to be stumped up as a deposit. The government’s Mortgage Guarantee Scheme help...

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What does Australia's Retirement Income Covenant have in store for retirees

What does Australia's Retirement Income Covenant have in store for retirees

Big changes lie ahead for the Australian Superannuation fund holders as Australia’s Retirement Income Covenant is set to be effective from July 1st, 2022. Superannuation, or “Super”, as the Aussies call it, is one of the most impo...

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Why COP26 Summit is so crucial now

Why COP26 Summit is so crucial now

The COP26 stands for “conference of the parties” under the United Nations Framework Convention on Climate Change, and the summit aims to reach a consensus to implement the 2015 Paris Agreement, where 200 countries around the world agree...

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US consumer prices climb at fastest pace in 30 years

US consumer prices climb at fastest pace in 30 years

Highlights But, despite rising costs and the expiration of unemployment benefits in September, consumer spending also increased in the month, the data revealed. The report pointed at strong demand and severe supply shortages for flaring up infl...

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