Economy

Sotheby’s, the renowned auction house, is making waves in Hong Kong with the launch of its first retail outlet. This innovative concept showcases a diverse range of items, from collectible trainers to dinosaur fossils, at prices starting from just a few hundred dollars. Changing Market Dynamics The decision to venture into retail comes at a

South Korea is taking steps to revitalize its economy and address its declining birth rate by proposing tax cuts aimed at stimulating the stock market and encouraging families to have more children. These measures are part of a broader initiative to enhance the Corporate Value-up Programme and make the country more attractive for investors. One

As former New Federal Reserve President Bill Dudley points out, it is crucial for the Fed to cut rates as soon as possible in response to the looming recession concerns. Dudley’s change of heart reflects the rapidly changing economic landscape, where the previous strategy of maintaining higher rates for a longer period is no longer

Delta Air Lines, one of the largest airlines in the United States, has reported a significant decrease in flight cancellations after facing a tumultuous few days. The airline, which had to cancel over 6,000 flights since Friday, saw a sharp decline in cancellations with only 47 flights being canceled as of the latest reports. This

Windrose, a Chinese electric truck startup, is making waves in the electric vehicle market with its plans to establish a U.S. assembly plant for its semi-trucks by 2025. Founder and Chief Executive Han Wen revealed this ambitious move in an interview, signaling a direct challenge to Tesla in its home market. This article will delve

UBS analysts have reiterated their confidence in a soft landing for the US economy, attributing it to the downward trend in inflation and the Federal Reserve’s potential rate cuts. They emphasize that moderating consumer spending is a crucial factor in curbing inflation, despite some recent positive economic data. The Institute for Supply Management’s purchasing managers

Ukraine recently announced a preliminary agreement with a bondholder group to restructure a massive $19.7 billion in debt. This ad hoc group, representing 22% of the bonds, has shown support for the deal, along with additional investors holding 3% of the bonds. The agreement includes significant measures that are subject to bondholders’ approval. One of

China’s recent decision to lower key short-term policy rates and benchmark lending rates has caught the market off guard. The move comes in response to weaker-than-expected second-quarter economic data and the country’s ongoing challenges like the looming threat of deflation, a property crisis, surging debt levels, and weak consumer and business sentiment. Analysts suggest that

China recently announced cuts to both short and long-term interest rates in an effort to support economic growth. The move came shortly after the release of a policy document outlining the country’s economic ambitions. This decision has sparked discussions among experts on the implications and motivations behind the rate cuts. Ben Bennett, Head of Investment

The new finance minister of the United Kingdom, Rachel Reeves, is facing a significant challenge as she considers whether to approve inflation-busting pay increases for almost 2 million government employees. This move comes as two pay review bodies have recommended a substantial 5.5% wage rise for 460,000 teachers and 1.4 million staff in the state-run

The deteriorating commercial real estate (CRE) loans and high interest rates have raised concerns about defaults among U.S. banks. Many regional lenders have seen a surge in their provisions for credit losses in the second quarter. The shift has impacted office loans the most, with buildings remaining vacant due to the post-pandemic shift towards remote

European Central Bank policymakers have shown support for further interest rate cuts in order to combat high inflation following the COVID-19 pandemic. Francois Villeroy de Galhau and Gediminas Simkus have expressed confidence that inflation will reach the ECB’s target by next year. Villeroy stated in an interview that market expectations for interest rate cuts are