Report warns that LIRR union strike is costing the regional economy tens of millions a day
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· David Propper
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Newest first · UTC+10:00Why the auction market just dropped even further, but not everywhere
The auction market faced a key test on the first weekend after the budget curbed investor tax breaks, and the results came in favouring buyers.
· Elizabeth Redman
‘A problem for every single business’: Labor insider joins backlash over CGT overhaul
A top adviser to former Labor leader Kevin Rudd and NSW Premier Chris Minns has joined a growing group warning that Prime Minister Anthony Albanese and Treasurer Jim Chalmers’ decision to hike the capital gains tax on businesses will stifle the economy and drag productivity, as Labor MPs grow uneasy about the backla…
· Paul Sakkal
Prepare for an AI jobs apocalypse
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· The Economist
Palestinian shot by Israeli troops while trying to cross into Israel dies of wounds
This is a locator map of Israel and the Palestinian Territories. (AP Photo)
· Julia Frankel
Trump pivots to midterms, affordability after China summit as Iran war persists
President Donald Trump has returned stateside and so has his administration's focus, even as the Iran war and the aftermath of his China trip remain front-burner issues.
· Kevin Breuninger
Michigan cities, counties have spent 18% of opioid settlement funds
Michigan towns, cities, townships and counties have $176 million sitting in bank accounts meant to fight the state’s opioid crisis.
· Ron French Bridge Michigan
Continuity, credibility crucial at DBM – analysts
A LEADERSHIP change at the Department of Budget and Management (DBM) is unlikely to unsettle the economy as long as fiscal continuity and credible execution are maintained, analysts said.
· Niña Myka Pauline Arceo
Another all-time low: Peso falls to P61.75:$1
THE peso hit a new record low on Monday and the stock market also fell with investors and traders said to have become more sensitive to global and domestic uncertainties.
· Niña Myka Pauline Arceo, Nazylen Joy Mabanglo
PH an ‘elevated risk’ market for illicit cigarettes
THE Philippines has been identified as an “elevated risk” market as smuggling activity and demand for cheaper tobacco products continue to fuel the illicit cigarette trade.
· Niña Myka Pauline Arceo
PH an ‘elevated risk’ market for illicit cigarettes
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· Niña Myka Pauline Arceo
Exclusive: ICC prosecutor's office seeks arrest warrant for Israel's Smotrich
The office of the prosecutor of the International Criminal Court last month filed a secret arrest warrant application for Israeli finance minister Bezalel Smotrich over alleged war crimes and crimes against humanity committed against Palestinians in the occupied West Bank, sources briefed on the matter told Middle E…
· Middleeasteye
Anthropic to brief global financial watchdog on cyber flaws exposed by Mythos – report
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· Victor Barreiro Jr.
The EU will cut growth outlook, raise inflation forecast as Iran war drives 'stagflationary shock'
The EU will downgrade its growth forecast because of the "stagflationary shock" caused by the Iran war, the bloc's commissioner for the economy told CNBC.
· Joseph Wilkins
"Scale Matters": NextEra, Dominion To Merge In Utility Megadeal Aimed At Grid Expansion To Power AI Boom
As power demand surges on the back of data-center buildouts, with hyperscalers expected to unleash about $700 billion in capex this year to expand AI infrastructure and maintain an edge over China in the AI compute race, NextEra Energy and Dominion Energy are moving to scale up. The utilities agreed to a $67 billion…
· Tyler Durden
G7 finance ministers hold Paris talks in bid to contain Hormuz crisis | The National
The G7 finance ministers gathered in Paris on Monday for a meeting on tackling the world economy's structural fault lines – but one issue loomed large: alleviating the economic fallout from the crisis in the Strait of Hormuz.
· Sunniva Rose
"Shockingly Bad" Chinese Econ Data Stuns Wall Street, Sparks Hard Landing Concerns
Confirming our Sunday preview, overnight China reported growth data which slowed across the board in April with investment resuming declines, retail sales missing sales and growing at the weakest rate in 4 years while industrial production rose at the slowest pace in three years, calling into question Beijing's relu…
· Tyler Durden
ADGM posts 57% increase in assets under management in first quarter | The National
Abu Dhabi’s ADGM posted a 57 per cent increase in assets under management in the first quarter of this year amid strong business momentum, as well as the continued flow of capital and talent to the emirate’s financial centre.
· Sarmad Khan
Has the UK become ungovernable? | The National
Here’s a quick quiz question: what country has the fastest-growing economy in the G7? The answer is, the UK.
· Damien McElroy
World Bank approves $350M loan for Bangladesh energy crunch
DHAKA. Bangladesh — The World Bank said on Monday it has approved a $350 million loan to help Bangladesh manage rising fuel import pressures and strengthen energy security after shortages linked to the Middle East war.
· Agence France-Presse
Key Events This Week: Nvidia Earnings, FOMC Minutes And Global PMIs
Looking at the week ahead, Nvidia’s earnings on Wednesday, with a market capitalisation now of $5.46tn, will be the main event. In economics, we have the global flash PMIs on Thursday, along with inflation data from Canada tomorrow, the UK on Wednesday, and Japan on Friday. From central banks, the highlight will be …
· Tyler Durden
Why world attention is turning eastward as global leaders visit China
By William Jones, a special commentator for CGTN, is a former Washington bureau chief for Executive Intelligence Review News Service and a non-resident fellow of the Chongyang Institute for Financial Studies
· RT
Why world attention is turning eastward as global leaders visit China
By William Jones, a special commentator for CGTN, is a former Washington bureau chief for Executive Intelligence Review News Service and a non-resident fellow of the Chongyang Institute for Financial Studies
· RT
Bank of England does not need to hike interest rates, says IMF — it may even need to cut
Renewed inflationary pressures in the U.K. since the outbreak of the Iran war have upended monetary policy expectations, with the Bank of England forecast to hold, if not hike, interest rates this year.
· Holly Ellyatt
The Question This Week Is "Does Trump Go Back To The Well On Bombing Iran?"
By Benjamin Picton, Senior Market Strategist at Rabobank
· Tyler Durden
Avi Bluth signs West Bank security amendment, go ahead to implement terrorist death penalty bill
IDF Central Command chief Maj.-Gen. Avi Bluth on Monday signed an amendment to the West Bank’s security regulations, allowing the approved death penalty law for terrorists to go into effect.
· MIRIAM SELA-EITAM
China and Russia hold trade expo as Putin and Trump visits draw global attention
Expo in Harbin highlights expanding economic ties amid rising geopolitical and trade uncertainties
· Frank Chen
China and Russia hold trade expo as Putin and Trump visits draw global attention
Expo in Harbin highlights expanding economic ties amid rising geopolitical and trade uncertainties
· Frank Chen
As China’s yuan emerges as a global currency, Beijing faces a balancing act
China’s top foreign exchange regulator said in an article that authorities would seek to keep the yuan ‘basically stable’
· Karen Tian
As China’s yuan emerges as a global currency, Beijing faces a balancing act
China’s top foreign exchange regulator said in an article that authorities would seek to keep the yuan ‘basically stable’
· Karen Tian
Futures Slide After Bond Yields, Oil Prices Jump Around The Globe
Futures are lower, but off their overnight lows as markets focus on soaring global yields after US/Iran talk progress remains stalled (but at least armed hostilities did not resume contrary to some speculation). Yields also spiked on rising oil prices, concerns of an extra budget in Japan and continued political cha…
· Tyler Durden
Anthropic to share Mythos cyber flaw findings with global finance watchdog
Startup has declined to release Claude Mythos AI model publicly amid fears it could be used by hackers
· Danmilmo
UK growth forecast upgraded by IMF but risks remain
The International Monetary Fund (IMF) has upgraded its forecast for the UK's growth this year, but warned the Iran war and "domestic uncertainty" could hit the economy.
· Faisal Islam & Michael Race
Australia orders Chinese investors to divest from rare earths company Northern Minerals
The company will force divestment from two individuals and four companies due to Chinese affiliation
· Ralph Jennings
Australia orders Chinese investors to divest from rare earths company Northern Minerals
The company will force divestment from two individuals and four companies due to Chinese affiliation
· Ralph Jennings
Smartphones linked to plunging global birth rates – FT
Smartphones and weaker face-to-face relationships could be contributing to plunging birth rates worldwide, particularly among young people, as global fertility is declining at a record pace, the Financial Times has reported, citing researchers and demographic data.
· RT
Read Full Article at RT.com
Smartphones and weaker face-to-face relationships could be contributing to plunging birth rates worldwide, particularly among young people, as global fertility is declining at a record pace, the Financial Times has reported, citing researchers and demographic data.
· RT
Trump’s war is crippling one of the world’s richest nations
In Qatar, a desert peninsula protruding into the Persian Gulf, natural gas turned the country from a pearl-diving backwater into one of the world’s wealthiest nations.
· River Akira Davis
South Korea stifling Samsung workers’ US$400,000 bonus strike risks wider crisis
Seoul is considering using a rarely used emergency power to halt a strike that could cost the economy US$67 billion
· Park Chan-kyong
South Korea stifling Samsung workers’ US$400,000 bonus strike risks wider crisis
Seoul is considering using a rarely used emergency power to halt a strike that could cost the economy US$67 billion
· Park Chan-kyong
Oil prices rise and bonds wobble as Iran war stokes inflation fears
Trump warning over peace talks drives up crude price as UK gilts hit by uncertainty over Starmer leadership
· Lauren Almeida
Spain mulls tighter mortgage requirements
The Bank of Spain is considering imposing stricter rules for securing a mortgage, while acknowledging this could have an impact on young and lower-income buyers in the country.
· The Local
Why Asia’s rental housing markets outside Japan are luring investors
While Japan remains the most developed market, property investors are finding new opportunities elsewhere in the region
· Nicholas Spiro
Why Asia’s rental housing markets outside Japan are luring investors
While Japan remains the most developed market, property investors are finding new opportunities elsewhere in the region
· Nicholas Spiro
Britain’s prospective next PM tries to placate bond markets after sell-off, gilts steady
U.K. gilt yields steadied on Monday after coming under heavy selling pressure last week, as traders gauge whether a challenge to Prime Minister Keir Starmer's leadership poses a threat to the country's fiscal stability.
· Holly Ellyatt
Seoul shares rebound from deep trough on chip gains
South Korean stocks closed higher Monday, rebounding from a steep decline the previous session, as investors scooped up major chipmakers, including market heavyweight Samsung Electronics. The local currency gained ground against the greenback.
· Yonhap
Police running out of room to store illegal cigarettes they’ve seized amid Australia’s booming illicit trade
Inquiry into black market hears cost of destroying vapes has also soared, with some requiring manual dismantling
· Tom Mcilroy
Treasury yields rise amid global bond rout as inflation fears grip investors
U.S. Treasury yields continued their ascent on Monday as global bond markets sold off amid concerns of resurgent inflationary pressures.
· Hugh Leask
Seoul shares rebound from deep trough on chip gains
SEOUL, May 18 (Yonhap) -- South Korean stocks closed higher Monday, rebounding from a steep decline the previous session, as investors scooped up major chipmakers, including market heavyweight Samsung Electronics. The local currency gained ground against the greenback.
· Kim Han-joo
Business lobbies urge Samsung union to call off strike over economic risks
Six major business groups warn prolonged walkout could disrupt chip exports, weaken investment, hurt Korea’s broader economy
· Ahn Sung-mi