(Bloomberg) — Thailand’s central bank remains firm in its opposition to a government plan to give nearly $14 billion in cash to almost all adult citizens to revitalize consumption activity, saying the prudent thing would be to focus on the needy. Most Read from Bloomberg With private consumption forecast to expand about 4% this year […]
WASHINGTON — The $1.9 trillion economic stimulus package that President Joe Biden signed shortly after taking office has become both an anchor and a buoy for his reelection campaign. The American Rescue Plan, which the Biden administration created and Democrats passed in March 2021, has fueled discontent among voters, in sometimes paradoxical ways. Some Americans […]
This article was originally published in Michigan Advance. Michigan’s public schools have billions of dollars in emergency COVID-19 federal funding to spend — but they may be in danger of losing some of it if it goes unallocated by the end of September. In 2021, President Joe Biden signed a stimulus bill that pushed funding […]
Scott Xiong of Wuhan, the capital city of China’s central Hubei province, is racked with disappointment after a potential buyer pulled the plug on a deal to buy his home last week. Now the 30-year-old PhD student is considering cutting another 50,000 yuan (US$6,900) from his asking price, which is already close to his original […]
SHANGHAI/BEIJING (Reuters) -China’s finance ministry plans to start raising 1 trillion yuan ($138 billion) in long-awaited, long-term special treasury bonds this week to raise funds it will use to stimulate key sectors of its flagging economy. The finance ministry confirmed what four sources had told Reuters earlier on Monday that the 1 trillion yuan ($138.23 […]
PM Images/Getty Images A housing proposal could unlock nearly $1 trillion for homeowners, Meredith Whitney wrote for the FT. The idea is for Freddie Mac to start purchasing secondary mortgages, offering a cost-effective way for borrowers to tap equity. Homeowners face few options to do this, as there aren’t many willing buyers. An idea is […]
(Bloomberg) — Stocks in Asia slipped Tuesday, led by a selloff in China, as deepening market pessimism piled pressure on policymakers to cut rates in the world’s second largest economy. Most Read from Bloomberg Stocks in Hong Kong fell around 2%, while those on the mainland were poised to decline for a third day. The […]
Investors in China can’t catch a break — both aspiring Chinese property owners who never got the homes they paid for from now-bankrupt builders and stock market investors who have ridden the nation’s market almost straight down from recent crisis after crisis. The iShares MSCI China ETF (NASDAQ:MCHI) has started the new year down by […]
WASHINGTON (AP) — Treasury Secretary Janet Yellen is pushing back against Republican criticism of the Democrats’ big coronavirus pandemic response package and making an election year pitch that the current state of the U.S. “vindicates” the steps taken in 2021 to “get our economy back on track.” With falling inflation, unemployment at 3.7% and the […]
BEIJING (Reuters) – China’s manufacturing activity shrank for a third straight month in December and weakened more than expected, clouding the outlook for the country’s economic recovery and raising the case for fresh stimulus measures in the new year. The government has in recent months introduced a series of policies to shore up a feeble […]