Markets expect Bank of England to hold rates steadyGeneral view of the Bank of England and the Bank of England’s Prudential Regulation Authority (PRA) in March 2025. Sopa Images | Lightrocket | Getty ImagesMarkets are now pricing in a more-than 90% probability the Bank of England keeps rates where they are at its next meeting.Some analysts disagree. Capital Economics says it expects the central bank to keep cutting at every meeting until it reaches a 3% base rate next year because it disagrees with its inflation forecasts, and says “it’s only a matter of time” before labor market weakness leads to…
Author: usaeverydaylife
When Singapore gained independence in 1965 after its separation from Malaysia, few expected the small city-state — which turns 60 on Saturday — to survive. But in the decades since, the country of just 735 square kilometers — smaller than New York City — has transformed itself into one that regularly tops rankings for education , economic growth and safety . More than 50 years ago, it was confronted with high unemployment, poor infrastructure, and an uncertain future. Now, however, the World Bank describes the city-state as being “home to a high-income, globally competitive economy that is underpinned by one…
People walk near the Elizabeth Tower, commonly referred to as Big Ben, near the Houses of Parliament in Westminster, central London on April 18, 2017.JUSTIN TALLIS | AFP | Getty ImagesThe U.K. government is loathe to admit it, but economists say it’s highly likely that the Treasury will have to hike taxes in the fall if it is to bung a black hole in the public finances that it has effectively created for itself.The National Institute of Economic and Social Research (NIESR) is the latest economic think tank to warn that taxes would have to rise later this year if…
A firefighting helicopter flies near as a home burns from the Mountain Fire on November 6, 2024 in Camarillo, California.David Mcnew | Getty Images News | Getty ImagesTop insurers fear the climate crisis could soon outpace industry solutions, effectively threatening to make entire regions around the world uninsurable.Günther Thallinger, a board member at Allianz, one of the world’s biggest insurers, recently outlined how the world is fast approaching temperature levels where insurers will no longer be able to offer cover for financial services, such as mortgages and investments.In a LinkedIn post published in late March, Thallinger made the case for…
China’s top foundry SMIC’s co-CEO said on Friday that U.S. tariff policy had not resulted in the “hard landing” that the company was initially worried about and that strong domestic demand will keep its production capacity tight until October.Zhao Haijun, co-CEO of Semiconductor Manufacturing International Corp, told a post-earnings call that the company is not consulting with customers regarding U.S. President Donald Trump’s 100% tariff plan on chip imports but expects the impact could be smaller due to contingency plans that had been made after tariffs were announced in April.China raised additional duties on U.S. goods to 125% in April after Trump…
Johner Images | Johner Images Royalty-free | Getty ImagesInvestors may soon have greater access to private assets — that is, investments that are not publicly traded — in their 401(k) or other workplace retirement plans. Financial advisors say that for many workers, the risks may outweigh the rewards. President Donald Trump signed an executive order on Thursday to increase the availability of alternative assets in 401(k) plans. The order instructs the Department of Labor to reexamine its guidance to employers and plan administrators on incorporating such assets into retirement plans.Alternative investments are a broad category that includes real estate, cryptocurrencies and…
The U.S. government on Thursday promised to amend a presidential executive order to remove overlapping tariffs on Japanese goods, Tokyo’s trade negotiator said, after talks in Washington to fix what he called a “regrettable” oversight.In those discussions, Ryosei Akazawa urged U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to ensure that a 15% levy agreed last month on Japanese imports was not stacked on goods, such as beef, that are subject to higher tariffs.They explained they would amend a July 31 presidential order, which included a no-stacking provision for the European Union but not Japan, and also refund excess duties collected,…
Israeli soldiers organize military equipment while standing on armored personnel carriers near the border with the Gaza Strip on August 6, 2025 in Southern Israel, Israel.Amir Levy | Getty Images News | Getty ImagesIsrael’s security cabinet has approved a plan to take over Gaza City, the Associated Press reported, citing Prime Minister Benjamin Netanyahu’s office.The plan, announced early Friday local time after a cabinet meeting that ran late into the night, stops short of the full occupation of the Gaza Strip that Netanyahu had discussed earlier.Critics have said that taking over Gaza City will prolong the captivity of hostages, entrench the…
Commercial satellite images show the Israeli military building up troops and equipment near the border with Gaza that would support a possible new ground invasion of the Palestinian enclave, according to three U.S. officials and a former official who viewed the imagery.The images show troop movements and formations that the four sources recognized as signs of an imminent major ground operation.It is not clear whether the Israelis really intend to begin a new offensive in Gaza or whether the move is a negotiating or pressure tactic.If there is a new military operation, it could include efforts to retrieve hostages held…
The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025. Issei Kato | ReutersShares of SoftBank Group surged 13% Friday to hit a fresh record, following the company’s higher-than-expected fiscal first-quarter profit.This marks the Japanese investment firm’s fourth straight session of gains, and comes after it closed at a record high in its previous session, before its earnings release.Stock Chart IconStock chart iconSoftBank Corp sharesSoftBank’s profits for the April to June quarter came in at 421.8 billion yen ($2.87 billion), substantially overshooting LSEG consensus estimates of127.6 billion yen.This marks the investment house’s second consecutive quarter…
