The housing market in China is currently facing significant challenges, with government stimulus measures failing to provide the necessary support. Despite various efforts to prop up the sector, including lowering homeowner borrowing costs, the housing market crash is far from over, according to Haibin Zhu, chief China economist at JPMorgan. Home prices are expected to
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The latest research from the Bank of America reveals that travel spending among American households has exceeded pre-pandemic levels, with a particular emphasis on international trips. The study indicated a 10.6% increase in travel spending per household compared to 2019, supported by credit and debit card data from January to mid-August. This surge is attributed
REA Group, a property listings company controlled by Rupert Murdoch’s News Corp, has expressed interest in potentially acquiring U.K. property portal Rightmove. This move aims to create a global digital real estate business, expanding the reach and influence of both companies. The announcement of this potential takeover offer caused a significant increase in the share
British fund manager abrdn has predicted that the U.S. economy will experience a soft landing in the near future. However, there is still a significant risk of a prolonged slowdown in 2025, according to Kenneth Akintewe, the company’s head of Asian sovereign debt. Akintewe raised concerns about the Federal Reserve’s current policies, asking whether they
China’s monumental achievement in developing its first top-tier video game, Black Myth: Wukong, has not only shattered world records but has also indicated a significant shift in the country’s gaming landscape. The action-packed game, rooted in mythological China, garnered an outstanding 10 million units in sales within just three days of its launch on August
The S & P 500 saw a 0.7% increase despite Nvidia’s post-earnings decline. Although the AI chipmaker beat estimates on both the top and bottom lines, their full-year outlook on gross margins fell short of analysts’ expectations. Jim Cramer referred to this as the “mortal Jensen Huang moment” and advised investors not to rush into
As the Federal Reserve gears up to cut interest rates, the future of the U.S. economy seems uncertain. This uncertainty leaves many experts divided on how to navigate the economic landscape ahead. For retirees or those nearing retirement, the stakes are particularly high as they face the potential impact on their retirement savings. The looming
The restaurant industry has taken a significant hit as bankruptcy filings have been on the rise in 2024. This surge comes as a result of a myriad of challenges that restaurants are facing. Diners are becoming increasingly cautious with their spending as the effects of the pandemic still linger. In addition to this, labor costs
Investors are keeping a close eye on the Federal Reserve’s anticipated interest rate cut in September, with a shift expected to favor dividend-paying stocks. The rationale behind this strategy lies in the fact that, in light of the lower interest rates, dividend yields from stocks tend to become more appealing compared to other traditional income-generating
Chinese President Xi Jinping recently emphasized the crucial need for a stable and healthy relationship between China and the United States during a meeting with U.S. national security advisor Jake Sullivan. Xi conveyed China’s unwavering commitment to maintaining a positive and sustainable relationship with the U.S., despite escalating tensions in recent years. President Xi expressed