Fed slashes interest rates by half a percentage point in bid to avert slowdown
The Federal Reserve cut its key lending rate by half a percentage point, at the top end of Wall Street expectations, saying a shaky job market poses a bigger risk to the economy than inflation. But Fed Chairman Jerome Powell said economic observers should not assume the half-point cut represents “a new pace of further […]
Dow surges 400 points, strong retail sales data ease fears of slowdown
The Dow Jones Industrial Average surged more than 500 points and the Nasdaq Composite rose 2% after July retail sales data showed strong consumer spending, easing concerns that the world’s largest economy could slip into recession in the near future. The Dow Jones Industrial Average rose 554 points, or 1.4 percent, to 40,563.06. The S&P […]
Bear market coming in 2025 over economic slowdown, AI bubble: David Roche
Investor and strategist David Roche said Monday he expects the economy to enter a bear market in 2025. He said the market would be driven down by disappointing interest rate cuts, a slowing economy and an AI bubble. During an interview with CNBC. Roche predicted the Fed would not cut interest rates to the 3.50% […]
‘Great Slowdown’ in U.S. Arms, Ammunition Shipments
Israeli Prime Minister Benjamin Netanyahu said on Friday he had confirmed a “significant slowdown” in U.S. shipments of arms and ammunition, publicly criticizing the White House after months of quiet frustration. As reported by Breitbart News, Netanyahu posted a video on social media earlier this week thanking the Biden administration for their help but asking […]
Tesla Announces Layoffs of Over 10% of Global Workforce amid Growth Slowdown
Elon Musk’s Tesla has announced significant reductions in its workforce worldwide, with more than 10% of its workforce affected by layoffs. Electrek report Tesla CEO Elon Musk announced in a company-wide email that the company has decided to reduce its workforce by more than 10 percent worldwide. The move comes as Tesla seeks to streamline […]
Ford delays launch of electric SUV, truck amid slowdown in demand
Ford Motor Co. on Thursday postponed plans to launch a three-row electric vehicle in Canada and a next-generation electric pickup truck in Tennessee, as a slowdown in global EV demand is forcing automakers to revise production plans. announced. Separately, Ford said it is ramping up sales of hybrid electric vehicles and plans to offer hybrid […]
China pursues aggressive growth to prevent devastating slowdown: government aims to ‘transform’ economy
China has launched a series of ambitious economic reforms to boost growth amid the economic crisis. Downturn in the housing market and slump in spending –Mainly, this year’s economic growth rate is “approximately 5%.” “Achieving 5% growth is going to be difficult,” Elaine Dezensky, senior director of the Foundation for Defense of Democracies and director […]
Apple iPhone sales slump 24% in China, fanning fears of a slowdown
Apple’s iPhone sales in China fell 24% year-on-year in the first six weeks of 2024 as the company faces increasing competition from domestic rivals such as Huawei, according to research firm Counterpoint. Huawei, the tech giant’s biggest competitor for premium smartphones in China, saw unit sales increase by 64% in the same period, the report […]