Economy

How will China reopening affect global inflation?

The market is focused on a less-hawkish message from Powell today but the big moves this week are in China, where it’s increasingly clear that covid-zero is coming to an end. Controls must be applied with “softness” and “greater precision” to ensure daily life can continue, various news reports in official publications said. Reports of …

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Elon Musk Warns of Severe Recession — Urges the Fed to Cut Interest Rates Immediately – Economics Bitcoin News

Tesla CEO and Twitter boss Elon Musk has warned of a severe recession in the US The billionaire stressed that the Federal Reserve needs to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the probability of a severe recession.” Elon Musk Warns About Severe Recession Tesla CEO and Twitter chief Elon Musk …

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FTX’s Bankman-Fried apologises, denies trying to commit fraud | Crypto

FTX founder tells conference he made a ‘lot of mistakes’ and is ‘shocked’ by emerging details of exchange’s collapse. Former FTX Chief Executive Sam Bankman-Fried has apologized for a “lot of mistakes” made in the abrupt collapse of the cryptocurrency firm, saying he did not knowingly behave fraudulently. “I didn’t ever try to commit fraud …

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Are Fears Of China’s Oil Demand Slump Overblown?

Concerns about China’s oil demand amid a new Covid outbreak, renewed restrictions, and protests against the ‘zero-Covid’ policy have weighed on market sentiment in the latter half of November, dashing hopes for a fast reopening after Chinese authorities eased some inbound travel quarantine rules earlier in the month. Oil prices slumped to their lowest level …

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NDP urges Liberals to tackle soaring prices in the North

New Democrat parliamentarians are urging the federal Liberals to address what they say is corporate greed driving a cost-of-living crisis for northern and Indigenous communities. As record-high prices for food, fuel and heat ripple across the North, Ottawa can lighten the financial load by reforming its Nutrition North subsidy and cutting the GST from home …

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Robert Kiyosaki warns that the economy is the ‘biggest bubble’ in history, urges investors to dump paper assets — he likes these 3 real assets instead

‘God have mercy on us all’: Robert Kiyosaki warns that the economy is the ‘biggest bubble’ in history, urges investors to dump paper assets — he likes these 3 real assets instead 2022 has been tough for most investors. Stocks have plunged, bonds have tumbled, and even broad benchmark ETFs are deep in the red. …

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South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

CNBC Pro: Forget Amazon. Here’s what top tech investor Paul Meeks is buying Investor confidence in the tech sector has been shaken this year amid a flight to safety, but top tech investor Paul Meeks said he is now “more bullish” on the sector than in recent months, though he remains selective within the sector. …

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FTX founder Sam Bankman-Fried: ‘Look, I screwed up’

New York CNN Business — Sam Bankman-Fried, the 30-year-old founder of the bankrupt crypto exchange FTX, said he “didn’t ever try to commit fraud on anyone,” while admitting he made mistakes as chief executive. “There are things I would do anything to do over again,” Bankman-Fried said in a virtual appearance at the New York …

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