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☆ Here's why Americans having fewer kids won't doom the economy
▼ + stars: | 2024-05-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

America's falling population isn't necessarily bad for the economy, Fisher Investments said. The US birth rate just fell to its lowest level in over 40 years, according to provisional CDC data. AdvertisementAmericans aren't having nearly as many kids as they used to, but that won't be the blow to the US economy that many have feared, according to Fisher Investments. Related storiesBut fewer babies being born isn't necessarily a bad thing for the economy, the firm said. "Yes, falling birth rates could have negative long-run ramifications if a true reduction in human capital and other factors don't offset this.

Persons: —, Goldman Sachs, Fisher, Ken Fisher Organizations: Fisher Investments, Service, Centers for Disease, Bank

☆ Boeing reports quarterly results before the bell. Here's what Wall Street expects
▼ + stars: | 2024-04-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Here is what Wall Street expects for Boeing for the period that ended March 31, according to estimates from LSEG:Loss per share: $1.76 adjusted$1.76 adjusted Revenue: $16.23 billionBoeing has been hamstrung in ramping up production, especially of its best-selling 737 Max planes. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing output. Questions abound for Boeing's lame duck CEO Dave Calhoun, who announced in March that he would step down by year-end. Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes?

Persons: Dave Calhoun, Max Organizations: Boeing, Max, Boeing Factory, Alaska Airlines Max, Federal Aviation Administration, FAA Locations: Renton , Washington

☆ This winter was weirdly warm — and rough for retailers
▼ + stars: | 2024-03-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The US just experienced the warmest "meteorological winter" on record, NOAA said last week. It also led to unpredictable consumer demand, causing headaches for retailers and other businesses. For Dick's, warmer weather means that sales skew toward lightweight fleeces rather than pricier down parkas, she said. A retailer in South Dakota surveyed by the Federal Reserve said that even though the warmer weather led to higher foot traffic, sales of winter gear and equipment fell. AdvertisementFrom major complications to minor inconveniences, it's looking like this winter could be a preview of what's to come thanks to the climate crisis.

Persons: Lauren Hobart, Hobart's, didn't, Hal Lawton, Lawton isn't, Raymond James, Lowe's, Marvin Ellison, Bill Boltz, Wisconsin's Organizations: NOAA, Service, National Oceanographic, Atmospheric Administration, Sporting, Tractor, Co, Raymond, Raymond James Institutional Investors, Federal Reserve, Climate Central Locations: NOAA's, East, Midwest, South Dakota

☆ Big Dreams Come Back to Bite New York Community Bank
▼ + stars: | 2024-02-08 | by ( Rob Copeland | Emily Flitter | ) www.nytimes.com time to read: +1 min

During last spring’s banking crisis, when a competing lender went under, New York Community Bank pounced, acquiring a big chunk of its business. The pain stems largely from a weakening commercial real estate market that impelled NYCB — which operates more than 400 branches under brands including Flagstar Bank — to admit to mounting losses. After the bank rushed to project stability, including by releasing a new set of financial disclosures on Tuesday evening that one analyst termed a “late night news dump,” shares rose 7 percent on Wednesday. Whether its efforts will stick is an open question. NYCB executives, who just a week ago had been tight-lipped about the bank’s finances, opened up the books on Wednesday and laid out turnaround plans on a public conference call.

Persons: Flagstar Bank — Organizations: New York Community Bank pounced, Flagstar Bank, Signature Bank

☆ A woman bought a vintage dress at an antique store. It had a secret pocket with a mysterious note
▼ + stars: | 2024-01-15 | by ( Faith Karimi | ) edition.cnn.com time to read: +8 min

CNN —The Victorian dress in the Maine antique mall was unlike anything Sara Rivers Cofield had seen before. Rivers Cofield had no idea that the dress she bought in December 2013 would unravel a mystery a decade later. Rivers Cofield was baffled, she told CNN. He also emailed Rivers Cofield, who did not know that online sleuths were still working to decipher the codes. But for now, Chan and Rivers Cofield are just glad they’ve unraveled the biggest piece of the dress’s mystery.

Persons: Sara Rivers Cofield, Rivers, Rivers Cofield, Fagan, Bennett, Shakespeare’s, ”, she’d, “, sleuths, Cofield, ” Rivers Cofield, I’m, Wayne Chan, didn’t, ” Chan, Chan, Sara Rivers, “ Bismark, “ Buck ”, he’s, “ I’m, It’s, they’ve Organizations: CNN, University of Manitoba, Army Corps, National Oceanic, Atmospheric Administration Locations: Maine, Calgary, Cuba, Bennett, Rivers, Chesapeake Beach , Maryland, Searsport , Maine, United States, ”, Canadian, Canada, North America, Bismarck, North Dakota, Washington ,, Chan

☆ A record 8.5 million Chinese borrowers are now blacklisted for not paying their debts, a report says. They're feeling the same financial pressures as Americans.
▼ + stars: | 2023-12-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

A record 8.54 million Chinese borrowers are blacklisted for not paying their debts, the FT reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA record 8.5 million Chinese borrowers – about 1% of the country's working-age adults – are blacklisted by their government for failing to pay their debts, the Financial Times reported on Sunday. The restrictions placed on the borrowers threaten to weigh on consumer spending in the world's second-largest economy, crimping global growth.

Persons: —, defaulters, Michael Burry, David Rosenberg Organizations: Service, Financial Times Locations: China

☆ Argentine farmers: Milei victory an opportunity for 'radical change' for grains sector
▼ + stars: | 2023-11-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +1 min

[1/2] Soy plants are seen in a farm near Pergamino, on the outskirts of Buenos Aires in Argentina April 27, 2021. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 20 (Reuters) - Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement. "A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement. Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.

Persons: Agustin Marcarian, Javier Milei's, Milei, Maximilian Heath, Adam Jourdan, Christopher Cushing Organizations: REUTERS, Argentine Rural Society, Argentine Rural Confederations, Thomson Locations: Pergamino, Buenos Aires, Argentina, BUENOS AIRES

☆ Argentine Farmers: Milei Victory an Opportunity for 'Radical Change' for Grains Sector
▼ + stars: | 2023-11-19 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

By Maximilian HeathBUENOS AIRES (Reuters) - Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian. Milei, a far-right libertarian, is pledging to reduce the size of the state and cut taxes. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement. "A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement. Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.

Persons: Maximilian Heath BUENOS, Javier Milei's, Milei, Maximilian Heath, Adam Jourdan, Christopher Cushing Organizations: Reuters, Argentine Rural Society, Argentine Rural Confederations Locations: Maximilian Heath BUENOS AIRES, Argentina

Interest rates for long-term borrowing for capital improvements also would be less costly for Pine Tree Power. The anger and frustration from electric ratepayers in Maine is a far cry from the days when Iberdrola bought Central Maine Power, the state’s largest electric utility. The privately operated, nonprofit Pine Tree Power utility would contract with a private grid operator through a competitive bidding process. But Pine Tree Power would face some of the same constraints as CMP and Versant. And, like the existing utilities, Pine Tree Power would have no control over the actual cost of electricity, which comprises about half of consumers' monthly bills.

Persons: Mainers, ”, Timothy Cox, Janet Mills, William Harwood, Seth Berry, Harwood, Ann, Ursula Schryver, Schryver, Mike Jacobs, Jacobs, who's, Christie Decker, “, Decker, Freed, Willy Ritch, ” Al, David Sharp, @David_Sharp_AP Organizations: Central Maine Power, Energy Partners, Democratic Gov, Maine Public, CMP, Nationwide, American Public Power Association, Union of Concerned Scientists, Iberdrola, Maine, Tree, Maine Affordable Energy Coalition Locations: PORTLAND, Maine, U.S, Washington, Tree, Francisco, San Diego, Ann Arbor , Michigan, Rochester , New York, Nebraska, Boston, Wilton, Pine, ” Al Cleveland

☆ Macquarie sends shareholders a sell signal
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Chief Executive of the Macquarie Group Shemara Wikramanayake, is seen in this handout picture taken in Sydney, Australia in 2022 released on May 5, 2023. Macquarie Group and Alice Boshell/Handout via REUTERS. Acquire Licensing RightsMELBOURNE, Nov 3 (Reuters Breakingviews) - Macquarie (MQG.AX) boss Shemara Wikramanayake knows how to time the market. The two moves seem designed to calm any shareholders nervous about the bank’s dip in fortunes. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Alice Boshell, Shemara Wikramanayake, Macquarie, Antony Currie, Aston Martin, Una Galani, Thomas Shum Organizations: Macquarie Group, REUTERS, Acquire, Rights MELBOURNE, Reuters, X, Pfizer, Thomson Locations: Sydney, Australia, Handout, Macquarie

☆ Offshore Wind Firm Cancels N.J. Projects, as Industry’s Prospects Dim
▼ + stars: | 2023-11-01 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

Orsted, the Danish company that is a leading offshore wind farm developer, said on Wednesday that it would write off as much as $5.6 billion as it gives up on plans to build two wind farms off the coast of New Jersey. The charges were further evidence that offshore wind in the United States is going through a major shakeout, crimping Biden administration plans to make the industry a critical component of plans to reduce greenhouse gas emissions. High inflation and soaring interest rates are making planned projects that looked like winners several years ago no longer profitable. “The world has in many ways, from a macroeconomic and industry point of view, turned upside down,” Mads Nipper, Orsted’s chief executive, said on a call with reporters on Wednesday. The two projects, known as Ocean Wind 1 and 2, were destined to provide green energy to New Jersey.

Persons: crimping Biden, ” Mads Nipper, Nipper, Trump Locations: Danish, New Jersey, United States, Europe, Britain

☆ Bank of Japan policymakers are meeting next week. Here's what you need to know
▼ + stars: | 2023-10-27 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

Policymakers meet eight times a year to decide on the bank's monetary policy position, updating its economic outlook at every other meeting. At these meetings, the BOJ policymakers decides on its monetary policy position, which then dictates how the central bank taps the money market. To absorb funds, the Japanese central bank issues and sells bills. Here's how the Bank of Japan conducts its monetary policy. "The objective of the Bank's monetary policy is achieving price stability, which is its mission as stipulated by law.

Persons: Javier Ghersi, it's, —, Price, Kazuo Ueda Organizations: Getty Images Bank of Japan, Investors, Bank of Japan, Bank of, of, Japan Society of Monetary Locations: Japan, Tokyo, Bank of Japan

Quarterly earnings reports for our industrial stocks begin this week amid an uncertain operating environment. HON YTD mountain Honeywell (HON) year-to-date performance Honeywell and Linde are the first two of the group to report — on Thursday before the bell. This was positive to see and it's reasonable to expect a clean quarter led by aerospace, Honeywell's largest business. Linde has beat and raised for 18 consecutive quarters, and history is likely to repeat itself when the industrial gas company reports. EMR YTD mountain Emerson Electric (EMR) year-to-date performance Emerson Electric is the last of our industrial names to report, on Nov. 7 before the opening bell.

Persons: we're, Stanley Black, Decker, —, CNBC's Jim Cramer, it's, Jim, You've, Vimal Kapur, Linde, Jack Umpleby, Emerson, Jim Cramer's, Jim Cramer, Wang Chun Organizations: Caterpillar, Honeywell International, Emerson Electric, Linde, LIN, DuPont De Nemours, Honeywell, LSEG, Aerospace, Electric, GE, Club, U.S, Management, CAT, Act, DuPont, Electronics, Emerson, National Instruments, SWK, CNBC, Future, Getty Locations: North America, China, Lianyungang, East China's Jiangsu

☆ Breaking down the complicated and erratic relationship between stocks and bonds
▼ + stars: | 2023-10-21 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

At Friday's close of 4224 on Friday, the S & P 500 is off 8% from the July high, with its equal-weighted version down 11%. .SPX YTD mountain S & P 500 YTD Yet the S & P was also at about the current level on Sept. 22, when the 10-year was a half-percentage-point lower, as well as on June 2, when it was at 3.7%. It's taken as a given in most corners of the investment business that higher rates available on bonds serve mechanically to compress equity valuations. Which is how the stock market finds itself here, with real or incipient breakdowns in regional banks and transportation stocks, the median S & P 500 component down for the year. The S & P 500 has gone on to drop a bit further, rally weakly and then roll back toward a five-month low.

Persons: James Carville, Bill Clinton, Stocks, it's, It's, Savita Subramanian, Jay Powell, LEI, Bond Organizations: Treasury, Bank of America, Group, Bloomberg News Locations: Friday's, corporates, Israel

☆ BlackRock’s Larry Fink squares off with Uncle Sam
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Laurence Fink, founder and chief executive officer of BlackRock, Inc. speaks during the Reuters Global Investment Outlook Summit in New York, U.S., November 13, 2017. REUTERS/Lucas Jackson Acquire Licensing RightsNEW YORK, Oct 13 (Reuters Breakingviews) - BlackRock (BLK.N) calls every dollar it manages a “unit of trust” expressed by clients. The trouble for the investing behemoth led by Larry Fink is that there’s an increasingly reliable custodian of such assets these days: Uncle Sam. Even so, $644 billion has crowded into retail money-market funds this year, crimping BlackRock’s all-important stock portfolios. Fink has been bulking up in infrastructure, credit and other investments that are harder to trade, but which also generate higher fees.

Persons: Laurence Fink, Lucas Jackson, ”, Larry Fink, Uncle Sam, Fink, crimping, Jonathan Guilford, Jeffrey Goldfarb, Sharon Lam Organizations: Inc, Reuters Global Investment, REUTERS, Reuters, BlackRock, Graphics, Treasury, X, Infosys, Thomson Locations: BlackRock, New York, U.S, Europe

☆ Asia stocks hit 2-week high as Fed talk turns dovish
▼ + stars: | 2023-10-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. The S&P 500 (.SPX) gained overnight and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.3% to a two-week high in morning trade. "I actually don't think we need to increase rates anymore," Atlanta Fed President Raphael Bostic told the American Bankers Association, to applause, in Nashville on Tuesday. On Wednesday the Australian and New Zealand dollars hit their highest levels on the dollar since the end of September, while sterling hit a three-week peak. European gas prices, which had jumped on news of the Middle East violence, surged further on Tuesday on concern a gas pipe in Finland was sabotaged.

Persons: Tyrone Siu, Raphael Bostic, Peter Dragicevich, Brent, Vivek Dhar, Sam Rines, Sam Holmes Organizations: REUTERS, Federal Reserve, paring, Japan's Nikkei, Atlanta Fed, American Bankers Association, Treasury, New Zealand, U.S, CPI, Fed, Bloomberg, HK, Benchmark, Samsung, Pepsi, Thomson Locations: Exchange, Hong Kong, China, SINGAPORE, paring U.S, Asia, Pacific, Japan, Nashville, Tuesday's, Israel, Finland, Estonia, Europe, Texas

☆ JPMorgan says oil could spike to $150, gets very bullish on energy stocks
▼ + stars: | 2023-09-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Get ready for higher energy costs, JPMorgan said Friday, warning that the latest surge in oil prices may have a lot further to run. The recent uptick in oil prices , sparked by output cuts from OPEC and higher demand, has fueled inflationary fears and heightened concern that interest rates may stay at today's lofty levels for longer. Consumer prices in August, for example, showed a 0.6% month-over-month increase, the largest monthly gain of the year, partly owing to uptick in energy prices. Brent prices rose another 1% Friday to trade around $94 a barrel as a fuel export ban from Russia reignited global supply fears. Amid this looming energy "supercycle," JPMorgan sees a positive outlook for global energy producers and named Shell , Baker Hughes and Exxon Mobil among its best ideas.

Persons: Christyan Malek, Brent, Malek, Baker Hughes, — CNBC's Michael Bloom Organizations: JPMorgan, Brent, bbl, Shell, Exxon Mobil Locations: Russia

☆ Planet Fitness races against rate hikes
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

View of the Planet Fitness logo at the their location in Clifton, New Jersey, U.S., January 6, 2023. REUTERS/Jennifer Saba Acquire Licensing RightsNEW YORK, Sept 18 (Reuters Breakingviews) - Planet Fitness (PLNT.N) is struggling to adapt to a high-interest-rate diet. Under Rondeau, Planet Fitness benefited from a post-pandemic exercise rebound, notching annual sales growth of over 40% in the last two years as location count expanded by 13%. Its stock is up 32% this year, while Planet Fitness’s is down by roughly the same amount. Life Time boss Bahram Akradi said his old approach of keeping prices low was a “mistake.” Planet Fitness can fix the same error.

Persons: Jennifer Saba, Chris Rondeau, Rondeau, Fitness’s, Bahram Akradi, Anita Ramaswamy, Jonathan Guilford, Sharon Lam, Aditya Sriwatsav Organizations: REUTERS, Reuters, Planet, X, Thomson Locations: Clifton , New Jersey, U.S

☆ The US consumer has been holding up the economy this summer by splurging on movies and concerts — but this may not last, a new survey indicates
▼ + stars: | 2023-09-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The strong consumer spending propping up the US economy may not last, a Bloomberg survey found. Over half of the respondents said they think US personal consumption will shrink in early 2024. High interest rates and a drawdown of pandemic-era savings could hit consumer spending. Since consumer spending accounts for about 70% of the US economy, any changes in the measure are a big deal. AdvertisementAdvertisementMeanwhile, JP Morgan predicted in an August 17 note that the stock market is set to fall as US consumer spending softens.

Persons: Jim Chanos, Anna Wong, James Knightley, David Rosenberg, JP Morgan Organizations: Bloomberg, Service, Wall, Bloomberg Economics, ING, Federal Reserve Bank of San Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

However, in a hopeful sign for growth, conditions did not materially worsen even though the survey showed factories under persistent pressure. China's major manufacturing rivals in the region Japan and South Korea also reported sharp declines in output on Thursday. "It's too early to tell, but today's print suggests that a sequential uptick in growth activity in the third quarter could still be possible," said Louise Loo, senior economist with Oxford Economics. Policymakers remain under pressure to boost domestic demand as the global economy continues to slow. Going forward, "the actual implementation and effectiveness of policy support will be the key indicator to watch," he added.

Persons: It's, Louise Loo, Pan Gongsheng, Frederic Neumann, Bruce Pang, Jones Lang Lasalle, Joe Cash, Qiaoyi Li, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, PMI, Oxford Economics, Reuters, People's Bank of, Global Research Asia, HSBC, Jones, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING, Japan, South Korea, People's Bank of China, United States, Europe, Asia

☆ India on track for lowest monsoon rains in 8 years -sources
▼ + stars: | 2023-08-28 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +3 min

"El Niño dampened rainfall in August, and it will also have a negative impact on September rainfall," said a senior official at the India Meteorological Department (IMD). The weather department did not immediately respond to requests for comment. India is heading for its driest August in more than a century, weather department officials said earlier this month. The current monsoon has been uneven, with June rains 9% below average but July rains rebounding to 13% above average. The last four Septembers have seen above-average rains due to delayed withdrawal of the monsoon, he said.

Persons: Sivaram, El, El Niño, Rajendra Jadhav, Tony Munroe, Raju Gopalakrishnan, Alex Richardson Organizations: REUTERS, Rights, El, Reuters, India Meteorological Department, IMD, Reuters Graphics, Thomson Locations: Vembanad, Kochi, India, El, New Delhi, Mumbai

☆ The Fed may have destroyed the housing market by crushing both supply and demand, top economist Mohamed El-Erian says
▼ + stars: | 2023-08-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed may have broken the US housing market, according to top economist Mohamed El-Erian. That's because interest rate hikes have helped drive up mortgage rates, weighing on both supply and demand. High rates have frozen the housing market over the past year by crimping both supply and demand. AdvertisementAdvertisement"When you go from record-low mortgage rates to levels that we haven't seen for almost 20 years, you've destroyed both demand and supply. That is the way you destroy the housing market," El Erian said.

Persons: Mohamed El, you've, El Erian, We've Organizations: Service, Allianz, CNBC, Mortgage News Daily, US Locations: Wall, Silicon, El

Since 2007, worldwide public debt has ballooned from 40% to 60% of GDP, on average, with debt-to-GDP ratios even higher in the advanced countries. That includes the United States, the world's biggest economy, where government debt is now more than double the nation's yearly economic output. Reuters GraphicsDespite mounting worries about the growth-crimping implications of high debt, "debt reduction, while desirable in principle, is unlikely in practice," Serkan Arslanalp, an economist at the International Monetary Fund, and Barry Eichengreen, an economics professor at the University of California, Berkeley, wrote in a paper. Inflation, unless it surprises to the upside over an extended period, does little to reduce debt ratios, and debt restructuring for developing countries has become more elusive as the pool of creditors has broadened, Arslanalp and Eichengreen wrote. "High public debts are here to stay," they wrote.

Persons: Dado Ruvic, Jackson, Barry Eichengreen, Eichengreen, Ann Saphir, Paul Simao Organizations: REUTERS, Kansas City Federal, International Monetary Fund, University of California, Thomson Locations: Saudi, , Wyoming, Jackson Hole , Wyoming, United States, Berkeley

☆ Russia's economic woes have brought a flood of cash and sparked a real estate boom in the UAE
▼ + stars: | 2023-08-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Traders in the Gulf state have ramped up business in Russian oil and gold markets, the WSJ reported. Conversely, Russians are flocking to the UAE, bringing their wealth to its economy and sparking a real estate boom. That's as sanctions and trade restrictions have weighed heavily on Russia's economy, cutting it off from billions of its foreign reserves and crimping its energy trade. Russians were the third-largest group of real estate buyers in Dubai over the last quarter, the real estate firm Betterhomes told the Journal, up from the ninth-largest group in 2021. Russia's economy meanwhile is in a state of turmoil.

Persons: Betterhomes, Putin Organizations: Traders, Service, United Arab Emirates, UAE, Wall, Yale Locations: UAE, Gulf, Wall, Silicon, Russia, Ukraine, Dubai, Poland

☆ China's economy is flailing. Here's how its problems could spill into global markets.
▼ + stars: | 2023-08-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

China's economy is facing headwinds ranging from an unstable property market to weak consumer demand. Experts told Insider that a worsening scenario in China bodes poorly for global markets and other economies like the US. "As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing." One way this is already being felt is in the softening of Chinese demand, which has led to a sharp drop in trade. And as the housing crisis deepens, it will become harder to China to right the ship, creating a lasting drag on future global growth.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Evergrande, Alfredo Montufar, Helu, Keith Hartley, Hartley, Noah Sheidlower, Dexter Roberts, David Roche, they're, Roche Organizations: Service, Privacy, China, Country Garden Holdings, China Center, Conference Board, Federal Reserve, Atlantic Council, Housing, Independent, CNBC Locations: China, Wall, Silicon, U.S

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