Keyword: economy
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The number of China's billionaires has dropped by a third since 2021, according to an annual rich list, as difficulties for the country's economy and government crackdowns took their toll. Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total. It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them.... China's economy has been grappling with a prolonged housing crisis,...
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Finnish immigration services are reporting big improvements in their migration processing with a more streamlined service in order to plug a shortfall in workers. As well, the Finns have increased monitoring of new immigrants to alleviate public concerns over letting in the wrong people. The updated system is all part of a scheme by the Finnish government to streamline and better control migration in general. As of 2024, work-based residence permit applications have been processed in an average of 23 days, a significant reduction from the 55-day wait in 2023. Specialists with a high level of expertise and previous experience...
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Half of Gen Z voters — and 1 in 4 U.S. voters overall — have lied to people close to them about who they're voting for, according to the latest Axios Vibes survey by The Harris Poll. Why it matters: Voters 18-27 who came of age during the hyper-polarized Trump era appear to be among the most sensitive to perceived pressure and judgment from friends or loved ones. "There's a new privacy emerging here, where it's far more convenient to either lie or not talk about it," said John Gerzema, CEO of The Harris Poll, which is not affiliated with...
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Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours. Fifty locations are set to close by the end of 2024, while the remaining 100 will shutter in 2025, Denny’s announced in an earnings call Tuesday. That amounts to a tenth of its restaurants, leaving 1,375 locations once completed. A specific list of closing restaurants weren’t immediately announced. Denny’s is targeting “underperforming restaurants” that are weighing down the company’s financial performance, according to Steve Dunn, Denny’s executive vice president and chief global development officer. The affected...
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Stores across America are shutting down left and right as shoppers are unable to afford to spend money on non-essentials. CNN Business reported on Friday that so far in 2024, major retailers have said they are closing down 6,189 stores. That number surpasses the 2023 total of 5,553, per Coresight Research, the article said. “Chains are on track to close the highest number of stores in 2024 than any year since 2020, when the Covid-19 pandemic decimated the industry.”
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Republican vice presidential nominee JD Vance called high housing costs “the biggest threat to the American dream” during a NewsNation town hall Thursday. “So many people in my generation — they’re delaying having families, they’re delaying getting married because they can’t afford a place to raise a family,” Vance told NewsNation’s Chris Cuomo. Low inventory, elevated mortgage rates and record-high prices have turned buying a home from a dream into a nightmare in recent years. At the same time, rising child care costs have stretched families’ finances and caused others to delay having kids altogether.
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On Thursday’s broadcast of “CNN News Central,” Harris-Walz Campaign Co-Chair Sen. Chris Coons (D-DE) reacted to polls showing Americans see the country as on the wrong track by stating that the internals show more people “think that their own economic situation and [that] of their community is getting better” and the pessimistic view of the nation’s direction is “in large part, because of the division and the nastiness they’re seeing on their televisions, in TV ads, and in discussions they’re having with family and friends about this election.” Co-host John Berman asked, “So, The Wall Street Journal has a new...
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A survey conducted by Santander Holdings USA, attempting to probe the status of middle-class households over the last twelve months, has reported that over half are actively delaying new-vehicle purchases. While the study is broad in scope, encompassing some similarly bleak news about home buying, the two issues seem closely related as rising costs don’t appear to be doing the economy any favors. With 77 percent of the middle-class respondents saying they need a vehicle in order to get to work, one would assume that the demographic is one the automotive sector can rely on for business. However, 52 percent...
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Denny's says it's closing 150 of its lowest-performing restaurants in an effort to turn around the brand's flagging sales. About half of the closures will happen this year and the rest in 2025, the company said during a meeting with investors Tuesday. The locations weren't revealed, but the restaurants represent about 10% of Denny's total. Stephen Dunn, Denny's executive vice president and chief global development officer, said in some cases the restaurants are no longer in good locations. "Some of these restaurants can be very old," Dunn said during the investor meeting. "You think of a 70-year-old-plus brand. We have...
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Paul Tudor Jones, Tudor Investment founder and CIO and Robin Hood Foundation founder, joins 'Squawk Box' to discuss the 2024 presidential election, state of the economy, how to fix the federal deficit, the Robin Hood investors conference, and more.
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Updated, accurate reports have just been released by distinguished economists, federal watchdogs and reputable fact checkers on the actual economic situation—according to these, the U.S. has been in a recession since 2022, and the real inflation rate is now hovering close to 40%. Most recently, the Brownstone Institute indicated the actual inflation rate as close to double the “informed” rate from media and government sources:Many have questioned the accuracy of official inflation statistics, with dozens of academic papers written on the topic and doubts voiced by sources ranging from the New York Times to former President Donald Trump.[snip]According to our...
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Target is slashing prices on 2,000 items, marking the second time this year that the retailer cut customer costs as it attempts to attract inflation-weary shoppers ahead of the holiday shopping season. Some prices have dropped effective immediately on a number of items, including home goods, beauty products, food, beverages and toys. In a press release, Target said it “routinely adjusts its prices to remain competitive in markets across the country” and the discounting will continue through December. Target’s price cuts have boosted customer spending after a string of dreadful quarters for the company. Discounts helped turn around Target’s fortunes:...
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President Donald Trump lit it up over the weekend at McDonald's in Bucks County, PA. He worked the fry station and the drive thru window. It got all kinds of attention and he looked like he was in his element. The left lost their minds over it, which made it extra hilarious. It showed once again, Trump's natural ability to interact with people as opposed to Kamala Harris' lack of ability. It was a brilliant campaign move and brought epic images including this one. He was also cheered by steelworkers in Latrobe, PA and at the Pittsburgh Steelers game on...
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Retail expert Gerald Storch says the 2024 election will weigh on an already weak holiday shopping season.. Former Target Vice Chairman Gerald Storch painted a sobering picture of consumer sentiment while speaking to FOX Business on Thursday, anticipating a subdued holiday shopping season weighed down by economic and political uncertainties. "It's very clear that consumers are running out of money. They're increasingly stressed by inflation and the exhaustion of their pandemic-era savings. When you take a look over the last several years, what you see month after month, everyone talks about, the consumer's still spending. They might be, but they're...
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In times of disaster and destruction, a common narrative often emerges that rebuilding efforts will lead to economic growth. The idea that repairing damage and replacing destroyed goods creates jobs that spur consumption and stimulate economic activity is tempting. However, as French economist Frédéric Bastiat explained in his famous “Broken Window Theory,” this reasoning is fundamentally flawed. Rather than generating net economic benefits, destruction diverts resources and wealth that could have been used for more productive purposes, ultimately stifling real economic growth. Recent events, particularly the devastation caused by Hurricanes Helene and Milton in 2024, provide a clear example of...
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The International Monetary Fund's latest fiscal monitor report has predicted that the global public debt will surpass $100 trillion this year. The report stated that the debt margin will reach 93% of global GDP by 2030, exceeding its 99% peak during COVID-19 driven by intense spending pressures and sluggish economic growth. The figures are projected to reach 93% of global gross domestic product by the end of 2024 and approach 100% by 2030, IMF said in its fiscal monitor report released Tuesday.
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The pro-abortion Institute for Women’s Policy Research (IWPR) argues that states with laws protecting preborn children from abortion are costing the nation $68 billion a year. It also claims pro-abortion states are helping the economy by allowing unlimited killing of babies. These pro-abortion assertions are not new, but they do prove that pregnancy and parenting discrimination still exist in the American workforce. Abortion advocates have been claiming for years that babies hurt the economy. IWPR, NPR, and even businesses have complained that women need to sacrifice their babies for the good of individual businesses and the economy. Claim #1: Abortion...
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Social Security and Supplemental Security Income (SSI) benefits for more than 72.5 million Americans will increase 2.5 percent in 2025. The 2.5 percent cost-of-living adjustment (COLA) will begin with benefits payable to nearly 68 million Social Security beneficiaries in January 2025. Increased payments to nearly 7.5 million SSI recipients will begin on December 31, 2024. (Note: some people receive both Social Security and SSI benefits)
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It was a question asked by then-GOP candidate Ronald Reagan in 1980 as he smoked Jimmy Carter with one of the most famous lines in debate history: “Are you better off than you were four years ago?”Game over, TKO—the Fat Ludy sung that night."Are you better off than you were four years ago?"Ronald Reagan debating then-President Jimmy Carter, 1980. pic.twitter.com/5rvyCVUOGC— Ronald Reagan Presidential Foundation & Institute (@RonaldReagan) September 6, 2024Now that we’ve endured almost four years of a disastrous Biden-Harris administration, Gallup asked voters the same question, and the results are terrible, horrible, no good, very bad if you’re Democrat...
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Kamala Harris runs commercials that identify her plans for the economy. The United States has experienced high inflation caused by the government printing press during the Biden-Harris years. Her solutions include a mix of scapegoating and even more federal spending. (1) These plans include “going after price-gougers.” Harris and her handlers do not acknowledge the government printing press as the cause of inflation. They scapegoat unnamed “price-gougers” the same way that the Soviet Union used to scapegoat “black marketeers.” One of Ayn Rand’s fictional enforcers in We the Living (depicting life in 1920s Soviet Russia) finally raised the obvious question...
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