Andrew Bailey, Governor of the Bank of England, gestures as he addresses the media during a press conference at the Bank of England in London on Aug. 1, 2024.Alberto Pezzali | Via ReutersThe British pound tumbled more than 1% against the euro and the U.S. dollar on Thursday after a The Guardian report that Bank of England Governor Andrew Bailey suggested more positive inflation data could lead the central bank toward a more aggressive approach to interest rate cuts.Sterling was down 1.17% to $1.3109 at 10:05 a.m. in London, hitting its lowest intraday level since Sept. 12. The U.K. currency…
Author: usaeverydaylife
Alvaro Gonzalez | Moment | Getty ImagesWhether it’s stock market volatility, the Federal Reserve’s interest rate cuts or proposed tax law changes, we’re dedicated to breaking down the news to help investors make smart money decisions.But CNBC’s personal finance team also recognizes the value of financial planning, regardless of your life stage, income level or wealth.Education is the driving force behind the CNBC FA 100 list, now in its sixth year, which ranks the country’s top financial advisor firms. More from FA 100:Here’s a look at more coverage of CNBC’s FA 100 list of top financial advisory firms for 2024:CNBC’s FA…
A user wearing an Oura RingCourtesy: OuraOura unveiled its new smart ring, the Oura Ring 4, on Thursday, which is available starting at $349. The company’s rings track sleep, exercise, stress, heart health and other metrics to help users understand their bodies and make healthier choices. The Oura Ring 4 has new sensors, a sleeker design and up to eight days of battery life. Oura said it developed a new “Smart Sensing” platform that uses an algorithm and updated sensors to capture more accurate readings for blood oxygen sensing, daytime and nighttime heart rate and breathing disturbances.The Oura Ring 4Courtesy: OuraThe sensors…
Customers at a restaurants on Nanjing East Road in Shanghai, China, on Wednesday, Oct. 2, 2024. Qilai Shen | Bloomberg | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayGeopolitical uncertainty Major U.S. indexes all closed slightly above the flatline on Wednesday. Oil prices continued rising, helping energy stocks outperform. Nike fell 6.8% and Tesla lost 3.5%. Asia-Pacific stocks traded mixed Thursday. Japan’s Nikkei 225 rose…
Private sector hiring picked up in September, indicating the labor market is holding its ground despite some signs of weakness, payrolls processing firm ADP reported Wednesday.Companies added 143,000 jobs for the month, an acceleration from the upwardly revised 103,000 in August and better than the 128,000 consensus forecast from economists polled by Dow Jones.While hiring increased, the rate of pay growth took another step down. The 12-month gain for those staying in their jobs nudged lower to 4.7%, while tumbling to 6.6% for job switchers, down 0.7 percentage point from August.Job gains were fairly widespread, with leisure and hospitality leading…
Workers producing pure electric vehicles at a Volkswagen (Anhui) workshop in Hefei, China, on Sept. 25, 2024.Cfoto | Future Publishing | Getty ImagesEurope’s top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters ahead of the next tightening of carbon regulations.Automakers operating in Europe face stricter emission targets from next year as the EU cap on average emissions from new vehicles sales falls to 93.6 grams of CO2 per kilometer (g/km), reflecting a 15% decrease from a 2021 baseline of 110.1 g/km.Exceeding those limits — which were agreed in 2019…
The Chinese and Xinjiang Uyghur Autonomous Region flags.Dado Ruvic | ReutersThe U.S. has added two new Chinese companies to a Xinjiang trade blacklist over forced labor accusations. The move comes just one week after Beijing retaliated against claims of human rights violations in the region and related “discriminatory measures” from American companies.The Department of Homeland Security announced on Wednesday that a Chinese steel manufacturer and an artificial sweetener maker would be placed on the Uyghur Forced Labor Prevention Act (UFLPA) Entity List. The list, which now includes 75 entities, bans imports that are made in full or in part in China’s…
Chesnot | Getty Images News | Getty ImagesThe Philippines will impose a 12% value-added tax on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that will level the playing field with domestic brick and mortar players, the internal revenue agency said on Thursday.President Ferdinand Marcos Jr signed into law on Wednesday the imposition of VAT on non-resident digital service providers such as streaming services and online search engines.”This will promote fair competition amongst businesses that are profiting from consumers here in the Philippines. A level playing field produces better products and services,” Bureau of Internal Revenue Commissioner Romeo Lumagui said in a statement.Only domestic digital service providers are now subject to paying the 12% VAT,…
Where you retire can be almost as important as the amount of money you’ve saved, given how much the cost of living varies from state to state.The annual cost of a comfortable retirement can differ by as much as $67,981 depending on where you settle, according to a recent GOBankingRates analysis of all 50 U.S. states.Hawaii has the highest average retirement expenses in the country, costing retirees an estimated $129,296 a year to live comfortably. That’s more than twice the amount needed in Mississippi, where retirees need $61,315, on average.To calculate the annual retirement costs for Americans aged 65 and…
Japanese 10,000 yen banknotes arranged in Tokyo, Japan, on Saturday, Oct. 7, 2023.Shoko Takayasu, Bloomberg | Bloomberg | Getty ImagesDespite dovish comments from Japanese Prime Minister Shigeru Ishiba leading to a sharp plunge in the yen, market analysts aren’t budging from their Bank of Japan policy expectations for the longer term.The yen slid to as weak as 147.15 against the U.S. dollar on Wednesday, after Ishiba told reporters that the current economic climate does not require an additional rate increase. The currency clocked its largest single-day decline since June 2022 during the session.”I do not believe that we are in…
