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☆ 89% of Americans say they do not consider themselves wealthy — here's what stands in the way
▼ + stars: | 2024-11-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

High home prices and higher mortgage rates along with low inventory have put ownership just out of reach for many households. Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAlthough vacationing has also gotten more expensive, Americans are still determined to travel. Rising debt is another threat to wealthAt the same time, rising consumer debt has weighed on household balance sheets. Nearly half, 44%, of Americans said credit card debt is the biggest threat to their ability to build wealth, according to a separate report by Edelman Financial Engines. "That stands in the way of people building actual wealth and therefore feeling wealthier," she said.

Persons: —, Freddie Mac, Jose Luis Pelaez, Jean Chatzky Organizations: Jose Luis Pelaez Inc, Deloitte, Edelman Financial, Federal Reserve Bank of New, CNBC Locations: Federal Reserve Bank of New York

☆ 'Top quality asset': Strategist names his top stock to buy in India right now
▼ + stars: | 2024-11-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Indian markets have been under pressure in recent weeks, but strategist Matt Orton remains bullish on the country, revealing "one of his favorite" stocks right now. ICIC Bank One stock that stands out to Orton is private bank and financial services player ICICI Bank . "ICICI Bank is one of my favorite picks because it's just a top-quality asset. ICICIBANK-IN YTD mountain Year-to-date shares in ICICI Bank Orton said ICICI is among the three "domestic systemically important banks," or those considered " too big to fail " banks by the Reserve Bank of India. According to FactSet data, of 44 analysts covering the stock, 41 give it a buy or overweight rating, while the remaining three have a hold call.

Persons: Matt Orton, Raymond James, CNBC's, Orton, it's, ICICI Bank Orton, Jefferies Organizations: Raymond James Investment Management, Bombay Stock Exchange, ICICI Bank, India's, Bombay Stock Exchanges, ICICI, Reserve Bank of India Locations: bullish, India, U.S, Mumbai

☆ Asia-Pacific markets set to rise as China's top financial officials gather in Hong Kong for summit
▼ + stars: | 2024-11-19 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

CNBC asked Intrepid Travel and ChatGPT to put together a two-day itinerary to Melbourne City, AustraliaAsia-Pacific markets are set to open higher on Tuesday, tracking Wall Street gains buoyed by a Tesla rally, and as traders wait to watch key Chinese financial policymakers speak at an investment summit in Hong Kong. Futures for Australia's S&P/ASX 200 stood at 8,327, slightly higher than the index's last close of 8,300.2. Japan's Nikkei 225 futures pointed to a stronger open for the market, with the futures contract in Chicago at 38,275 and its counterpart in Osaka at 38,310 compared to the previous close of 38,220.85. Hong Kong's Hang Seng index futures were at 19,766, higher than the HSI's last close of 19,576.61. The Reserve Bank of Australia will publish the minutes from its monetary policy meeting earlier this month, where it held its benchmark interest rate for the eighth meeting in a row at 4.35%.

Organizations: CNBC, Intrepid Travel, Futures, Australia's, Japan's Nikkei, Reserve Bank of Australia Locations: Melbourne City, Australia Asia, Pacific, Hong Kong, Chicago, Osaka

☆ India central bank plans 2025 launch of cloud services, countering dominance of global firms
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: +2 min

India's central bank will launch a pilot program in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential. The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central bank. In December last year, RBI governor Shaktikanta Das announced plans to set up a public cloud for the financial services industry. Initial work on the cloud is being driven by the research wing of the central bank called the Indian Financial Technology and Allied Services. It will then be developed further in partnership with one or more private sector technology firms, according to the sources.

Persons: Shaktikanta Das, EY Organizations: Bank, Reserve Bank of, Amazon Web Services, Microsoft, Google, IBM, International Data Corporation, Indian Financial Technology, Allied Services, Reuters

Many people feel “that they’re not getting enough back, that a college education isn’t worth enough,” said Paul Peterson, a professor of education policy and governance at Harvard University. The data says that college education is worth more than ever.”The dissonance shows how higher education has become another slice of the economy where the vibes are worse than the numbers might suggest — and risks exacerbating Democratic losses with working-class voters. Andrew Smith, director, University of New Hampshire Survey CenterThere are many reasons why improving college affordability may not register widely. Given other budget pressures — from child care to car insurance — college expenses simply might not have fallen enough to matter. A polling site in Vienna, Va., on Election Day, which saw working-class voters further embrace Republicans.

Persons: they’re, ”, Paul Peterson, Donald Trump, Kamala Harris, Trump, Andrew Smith, Pew, “ We’ve, Robin Isserles, ” Isserles, “ I’ve, Bill Clark, Ashley Koning, Harris, ” Koning, Sallie Mae Organizations: Harvard University, “, NBC, Pew, University of New Hampshire Survey, grads, National Center for Education Statistics, Dallas Federal Reserve Bank, Manhattan Community College, Trump, Voters, Inc, Getty, Eagleton Center for Public, Rutgers University, Democrats, College Board, Republicans Locations: New York City, Staten Island, Long, Nassau County, Vienna, Va, New Jersey, New Jersey , New Hampshire, Pennsylvania

U.S. consumers collectively owe an eye-popping $1.17 trillion in credit card debt — a record — according to estimates the Federal Reserve Bank of New York released this week. But while there are still major financial risks for carrying hefty balances, the researchers said the data suggests that “rising debt burdens remain manageable” for the typical consumer. Prices are still going up, but they’re not going up as fast, and incomes are once again going up at a faster rate than expenses. Earnings growth has averaged 6.2% per year since the pandemic began, compared to the cumulative debt balance rising 4% per year. “Especially for higher-risk borrowers, credit card and auto loan delinquencies are the highest in a dozen years, and that’s with unemployment at 4%.

Persons: ’, Donald Trump, they’re, Greg McBride What’s, TransUnion, That’s, ”, Greg McBride, “, McBride Organizations: ’ paychecks, Federal Reserve Bank of New York, New York Fed, Commerce Department, Bureau of Labor Statistics, Bankrate Locations: ’ paychecks . U.S

☆ India’s central bank chief warns growing risk of global inflation returning
▼ + stars: | 2024-11-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Shaktikanta Das, governor of the Reserve Bank of India (RBI), during an event at the Peterson Institute of Economics (PIIE) during the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, Oct. 25, 2024. Central banks have managed to engineer a soft landing through a period of "continual and unprecedented shocks," but there is still a risk of global inflation returning and of economic growth slowing down, according to India's central bank chief. Speaking Thursday in Mumbai, India, at CNBC-TV18's Global Leadership Summit, Reserve Bank of India (RBI) Governor Shaktikanta Das said monetary policy from global central banks had largely "performed well" in recent years despite conflicts, geopolitical tensions and higher volatility. "A soft landing has been ensured but risks of inflation — as I speak to you here today — risks of inflation coming back and growth slowing down do remain," Das said. Das pointed to several contradictions in global markets to underline his view, including the appreciation of the U.S. dollar, even as the Federal Reserve is cutting interest rates.

Persons: Shaktikanta Das, Das Organizations: Reserve Bank of India, Peterson Institute of Economics, International Monetary Fund, Bank, CNBC, Leadership, U.S ., Federal Reserve, U.S Locations: Washington , DC, Central, Mumbai, India, London

☆ Americans’ debt is growing — but so are incomes
▼ + stars: | 2024-11-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Americans are continuing to pile on debt at record levels — but for many households, those IOUs are completely manageable, according to new data released Wednesday. Balances grew across all major debt categories, with credit cards and auto loans continuing to see the biggest gains. However, by and large, most households have been able to handle that rising debt: Their after-tax income has grown even more, according to the New York Fed. Disposable personal income hit $21.8 trillion in the third quarter, bringing the total debt balance to income ratio to 82%. And, for 18 months running, that pay growth has outpaced inflation, according to Bureau of Labor Statistics data released Wednesday.

Persons: Delinquencies, “, ” “, ” Donghoon Lee, — Organizations: CNN, Federal Reserve Bank of New, New York Fed, of Labor Statistics

☆ Credit card debt among retirees jumps — 'It's alarming,' researcher says
▼ + stars: | 2024-11-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Retirees' debt was rising before the pandemicRising debt levels were a problem for older Americans even before pandemic-era inflation. The typical family with heads age 75 and older had $1,700 of credit card debt in 2022, EBRI said in the August report. Those with heads age 65 to 74 had $3,500 of credit card debt, it said. Meanwhile, any spending cuts should be applied to reduce credit card debt, McClanahan explains. Boost income Retirees can also consider going back to work at least part time to earn more income, McClanahan said.

Persons: Bridget Bearden, Bearden, it's, EBRI, Louis, Carolyn McClanahan, She's, McClanahan, Cardholders, Cook, Ted Jenkin, Winnie Sun Organizations: Research Institute, Social Security, Senior Citizens League, Reserve Bank of St, Federal Reserve, U.S . Federal Reserve, Federal Reserve Bank of St, Planning Partners, CNBC's, CNBC, Facebook, Craigslist, Sun Group Wealth Partners Locations: Louis, Jacksonville , Florida, Irvine , California

☆ Buying a home is expensive. What about ordering one for delivery?
▼ + stars: | 2024-11-11 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Manufactured housing, sometimes called mobile homes, are homes made in a factory rather than constructed on site, and they have been surging in popularity this year amid America’s housing crisis. Instead, they’re turning to the internet for lower-cost options, whether a pop-up foldable house kit, a tiny home or a traditional mobile home. Amazon is not the first major retailer to sell manufactured homes. More than 100 years ago, American retailer Sears, Roebuck and Co began selling kit homes from its catalog, with some for under $1,000. A 2023 Urban Institute paper argued that mobile homes were “uniquely vulnerable” to natural disasters compared to other housing.

Persons: Julie Johnson, homeownership, SSRS, George Rose, Donald Trump, Sears, Marc Norman, ” Norman, Katie Currid, “, Norman, Johnson, ” Johnson, Rebecca Blackwell, Johnson’s, Julie Johnson's, Patrick Harker, ” Harker, ”, ” CNN’s Chris Isidore Organizations: CNN, Facebook, National Association of Realtors, Getty, Census Bureau, Sears, Roebuck, Schack Institute of Real, New York University, Daily News, Urban, Hurricane, Federal Reserve Bank of Philadelphia, “ Locations: North Carolina, America, Boulder City, Boulder City , Nevada, Staunton , Virginia, Staunton, Mobile, Hurricane Milton, Englewood , Florida

☆ What’s open and closed on Veterans Day 2024
▼ + stars: | 2024-11-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Veterans Day honors active and former US service members annually on November 11, the anniversary of the end of World War I. Here’s what’s open and closed on Veterans Day 2024. The New York Stock Exchange and Nasdaq will be trading on Veterans Day. Postal servicesUPS will be operating as normal on Veterans Day. Make sure to double-check if your local services are open that day.

Organizations: New, New York CNN, Veterans, Retail, Target, Walmart, Kroger, Costco, Roadhouse, Bank of America, Citibank, Bank, Federal, The New York Stock Exchange, Nasdaq, UPS, Veterans Day, FedEx, FedEx Express Locations: New York, Wells Fargo

☆ Americans are doom spending
▼ + stars: | 2024-11-10 | by ( Erika Tulfo | ) edition.cnn.com time to read: +7 min

While this kind of catharsis might work to temporarily allay worries, experts say doom spending poses a danger to consumers’ long-term financial health. Joe Raedle/Getty ImagesThat financial gloom is powering doom spending and, in turn, driving up credit card debt. Beyond the economy, experts say that internet habits play a significant role in driving doom spending, especially for younger consumers. But Alev says that she anticipates a pop in spending whether Americans feel positively or negatively about the outcome of the election. How do you curb doom spending?

Persons: ”, Gen, “ We’re, Courtney Alev, “, Alev, Donald Trump, Trump, Kamala Harris, —, Sertan Kabadayi, Joe Raedle, Bankrate, Aja Evans, ’ ” Evans, hasn’t, ” Alev, Jeff Roberson, Biden, Evans Organizations: CNN, Wheaton College senior, YouTube, Credit, Gallup, Fordham University’s Gabelli School of Business, Federal, Federal Reserve Bank of Philadelphia, Finance, Brookings Institution Locations: Massachusetts, Miami , Florida, West Palm Beach , Florida

☆ Fed's Kashkari says Trump tariffs could reheat inflation if they provoke global trade 'tit for tat'
▼ + stars: | 2024-11-10 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO, Federal Reserve Bank of Minneapolis, speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 7, 2024. Minneapolis Federal Reserve President Neel Kashkari said Sunday that President-elect Donald Trump's tariff proposals could worsen long-term inflation if global trade partners were to strike back. One-time tariffs, Kashkari said on CBS' "Face the Nation," "shouldn't have an effect long run on inflation." "The challenge becomes, if there's a tit for tat and it's one country imposing tariffs and then responses and it's escalating. Trump and his backers like billionaire Tesla CEO Elon Musk have also been outspoken about their desire to give the president input on Fed policy decisions.

Persons: Neel Kashkari, The Beverly Hilton, Donald Trump's, Kashkari, Trump, We've, Tesla, Elon Musk Organizations: Federal Reserve Bank of Minneapolis, The Beverly, Minneapolis Federal, Sunday, CBS, U.S, Wall Street Locations: Beverly Hills , California, U.S, Minneapolis, China

WASHINGTON — As a candidate, Donald Trump promised to relieve consumers of high interest rates. Trump repeatedly said during the campaign that he would bring down interest rates without elaborating on how. He has suggested the president should have a say in determining rates set by the Federal Reserve and publicly berated the central bank and its chairman, Jerome Powell, for not lowering rates sooner. Trump has no direct control over the interest rates set by the Federal Reserve, which is determined by a committee that includes seven members appointed to 14-year terms along with five regional Reserve Bank presidents. “There aren’t a lot of policies that the president has at his disposal that can really lower rates,” said McLaughlin.

Persons: Donald Trump, Trump, Jerome Powell, ”, Kent Smetters, “, isn’t, Ralph McLaughlin, McLaughlin, Powell, Xi Jinping, ” Powell, he’s, ” Trump, reappoint Powell, Scott Bessent, Barron’s, Bessent Organizations: WASHINGTON, Federal Reserve, United, University of Pennsylvania Wharton School, Federal, Realtor.com, Reserve Bank, Fed’s, Governors, Twitter, Trump, Chicago Economic, Senate, Republicans, Fed Locations: United States, America, U.S, China

☆ Inflation data will be key hurdle to get through next week after stock market's historic postelection rally
▼ + stars: | 2024-11-08 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Inflation data in the week ahead could determine whether a stock market that surged to all-time highs after Donald Trump 's decisive victory can continue to push higher. Meanwhile, the October producer price index, which excludes shelter, is set to have risen 0.3%, consensus estimates show, up from a 0.0% reading the prior month. Initial Claims (11/09) 8:30 a.m. Producer Price Index (October) Earnings: Applied Materials , Walt Disney Friday, Nov. 15 8:30 a.m. Export Price Index (October) 8:30 a.m. Import Price Index (October) 8:30 a.m.

Persons: Donald Trump, Hogan, We've, Nancy Tengler, Bitcoin, Harker, Tyson, Price Organizations: Federal Reserve, Riley Wealth Management, FactSet, Laffer, Investments, Trump, Dow Jones, Nasdaq, Atlanta Fed, Treasury, Philadelphia Reserve, Carnegie Mellon, Occidental Petroleum, Nation Entertainment, Tyson Foods, Mosaic, Treasury Budget NSA, Cisco Systems, Walt Disney, Price, Retail, Manufacturing Locations: China, U.S

☆ The presidential election is prompting some Americans to 'doom spend,' report finds
▼ + stars: | 2024-11-05 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Mario Tama | Getty Images News | Getty ImagesRetail therapy is thinly coating voters' anxieties from the presidential election — and their wallets know it. Follow: Election 2024 live updates: Trump and Harris await Presidential election results More than half, or 60%, of Americans surveyed are concerned with the state of the world and economy, more than they were a year ago. Top worries among doom spenders include the cost of living (55%), inflation (43%), and the presidential election (28%), the report found. As of June, 50% of cardholders carry a balance every month on their credit cards, a recent Bankrate survey found. About six out of every 10 people who have credit card debt have had it for at least a year, Bankrate found.

Persons: Mario Tama, —, Gen Zers, Harris, Rossman, Bankrate, NerdWallet, Z, Alev Organizations: Getty, Intuit Credit Karma, Trump, Karma, Shoppers, Federal Reserve Bank of New, millennials, Fed Locations: Federal Reserve Bank of New York

☆ Asia-Pacific markets set to trade mixed as investors eye Fed and RBA rate decision
▼ + stars: | 2024-11-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to trade mixed on Tuesday as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week. Hong Kong's Hang Seng index futures were at 20,658, slightly higher than the HSI's last close of 20,567.52. Australia's S&P/ASX 200 slid 0.32% as traders keep an eye on the upcoming central bank rate decision. Analysts at HSBC and the Commonwealth Bank of Australia expect the Reserve Bank of Australia to leave the cash rate unchanged. South Korea's consumer inflation in October rose 1.3% from a year ago, slightly cooler than Reuters' expectations of 1.4%.

Persons: Australia's Organizations: U.S, Federal Reserve, Nikkei, HSBC, Commonwealth Bank of Australia, Bank of Australia Locations: Asia, Pacific, Chicago, Osaka

☆ Australia's central bank keeps rates unchanged at 4.35%
▼ + stars: | 2024-11-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Australia's central bank held its benchmark interest rate at 4.35% for the eighth meeting in a row, in line with expectations from economists polled by Reuters. The central bank expects that the headline rate will increase as these measures expire. The RBA instead pointed at the underlying inflation rate in Australia. The "trimmed mean" came in at 3.5% in the the September quarter, which was still "some way" from the 2.5% midpoint of the inflation target. Externally, the bank added that "heightened geopolitical risks and potential changes to trade and fiscal policies abroad add to this uncertainty."

Organizations: Reuters, Reserve Bank of Australia Locations: Australia

☆ India central bank well-equipped for post-U.S. election volatility, Reuters reports
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +3 min

A sign for the Reserve Bank of India (RBI) sign is displayed inside central bank's headquarters in Mumbai, India. The Reserve Bank of India would be able to tap its large foreign exchange reserves to defend the domestic currency in the event of global market volatility and an outflow of foreign funds, the sources said. There has been a record outflow of more than $10 billion in foreign funds from India stocks, while foreigners pulled $700 million from the debt market. Central bank officials have not committed to or signaled any timing for a rate cut. China's stimulus efforts, which could intensify if U.S. tariffs further hurt its economy, have been a factor driving foreign funds out of India and other emerging markets into China.

Persons: Donald Trump, Kamala Harris, Trump Organizations: Reserve Bank of India, Republican, Democratic, Trump Locations: Mumbai, India, China, The U.S, Central

☆ Dollar dips as U.S. election outcome remains uncertain, Fed rate cut looms
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +3 min

The euro rose 0.4% to $1.0876 but faces resistance around $1.0905, while the dollar dipped 0.3% on the yen to 152.45 yen . Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar, while Harris was seen as the continuity candidate. "A Harris win and a split Congress would likely result in 'Trump trades' quickly reversed and priced out," he added. Uncertainty over the outcome is one reason markets assume the Federal Reserve will choose to cut rates by a standard 25 basis points on Thursday, rather than repeat its outsized half-point easing. Futures imply a 99% chance of a quarter-point cut to 4.50%-4.75%, and an 83% probability of a similar-sized move in December.

Persons: Kamala Harris, Republican Donald Trump, Harris, Chris Weston, Trump, Goldman Sachs, Jan Hatzius Organizations: Democratic, Republican, Dealers, Trump, Reserve, of England, Norges Bank, Reserve Bank of Australia, Labor, China's National People's Congress, Reuters Locations: Asia, United States, Iowa, Treasuries, gilts, Beijing

☆ Buy these 39 quality stocks with rising earnings in a market with intriguing but imperfect parallels to the highly volatile fall of 2016
▼ + stars: | 2024-11-03 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are 39 quality economically sensitive stocks to buy, according to Morgan Stanley. Economically sensitive stocks, including financials and industrials, took off in anticipation of that result and caught fire after it became official. Several parts of the stock market seem to be preparing for another Trump presidency, according to Morgan Stanley. "Markets generally welcomed a reflationary playbook in 2016," Wilson wrote. AdvertisementRegardless of who's in office, Morgan Stanley outlined a list of 39 economically sensitive stocks that should do well.

Persons: Donald Trump, Morgan Stanley, —, Trump, Kamala Harris, It's, Harris, Mike Wilson, Wilson, that's, it's Organizations: Service, Trump, Consumer, Federal Reserve Bank of St, Louis Locations: Financials

☆ The world is about to get some much-needed clarity on the US economy’s future
▼ + stars: | 2024-11-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

One bit of clarity they’re sure to get: The Federal Reserve’s latest interest rate decision, due to be announced Thursday. The Fed lowered borrowing costs in September for the first time in more than four years while signaling additional rate cuts. But a slew of economic figures have been released since the decision, which is important because the Fed’s decision are guided by what those figures show. Investors are betting with near certainty that the Fed will deliver a quarter-point cut, according to futures. Lower rates could entice home buyers to come off the sidelines, and for businesses it could continue plans that have “baked in” lower rates.

Persons: Kamala Harris, Donald Trump, Jerome Powell’s, America’s, Harris, Harris ’, ” “, Lawrence Yun, ” Yun, they’re, It’s Organizations: Washington CNN, Federal, Fed, The Wall Street, US, Trump, Federal Reserve, Duke University, Institute for Supply, National Association of Realtors

☆ New rule may make it easier to switch banks and transfer your financial data
▼ + stars: | 2024-10-31 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

A new regulatory rule finalized this month by the Consumer Financial Protection Bureau aims to reduce that hassle and make it easier, more secure and always free for customers to switch accounts or to simply transfer or share their financial data from their banks, credit card issuers and other financial service providers upon request. “The problem the CFPB (rule) is addressing is the paperwork required of consumers to change accounts. Financial providers must make this information available without charging fees.”The rule will also restrict how third parties may use and retain the data consumers request be shared. Banks push backThe banking industry wasted no time in expressing its displeasure with the new rule — known as the personal financial data rights rule. “Dodd-Frank only requires banks to provide financial data to consumers.

Persons: it’s, ”, Adam Rust, Rohit Chopra, ” Rust, “, That’s, ” Chopra, Banks, Rob Nichols, —, ” Jaret, “ Dodd, Frank, ” Seiberg, Chopra, they’ve Organizations: CNN, Consumer Federation of America, Consumer Financial, Federal Reserve Bank of Philadelphia, American Bankers Association, Bank Policy Institute, Kentucky Bankers Association and, Cowen Washington Research Group Locations: Kentucky Bankers Association and Kentucky, Las Vegas

☆ CNBC's Inside India newsletter: India's deepening ties with natural gas
▼ + stars: | 2024-10-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

Currently, more than 80% of India's energy needs are met by coal, oil and solid biomass, according to the International Energy Agency. On the demand side, the Indian government has aggressively pushed policies that favor vehicles powered by compressed natural gas (CNG), a derivative of liquified natural gas (LNG). Meanwhile, the number of households that could receive piped natural gas is more than 300 million. For instance, natural gas is a crucial ingredient for making fertilizers, and manufacturing it domestically helps increase food security. Seth is also optimistic about India's growth rate for its third and fourth quarters despite slower capital expenditure in some states.

Persons: Punit Paranjpe, Francis Mascarenhas, They're, Maruti Suzuki, GAIL, MGL, of Home Affairs Amit Shah, David Morrison, Shah, Ajay Seth, Seth, Aravind Maiya, Embassy REITs, Maiya, Landsberg Bennett, Michael Landsberg, Landsberg Organizations: Gas, Private, Afp, Getty, International Energy Agency, Energy, Reuters, Maruti, Institute for Energy Economics, Rystad Energy, Citi, JPMorgan, Gujarat Gas, of Home Affairs, Foreign, Department of Economic, Reserve Bank of India, CNBC, Embassy, Fortune, Wealth Locations: Dhamra, Bhadrak district, India's Odisha, India, Europe, Ukraine, Moscow, Russia, Iraq, Saudi Arabia, Pune, Gujarat, Canada, U.S

☆ U.S. dollar rally pauses before jobs data, Aussie droops on RBA outlook
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: +4 min

An Australian one dollar coin sits atop a United States one dollar bill in this illustration photo taken February 12, 2016. The dollar hovered close to a three-month peak on Wednesday in a big week for macroeconomic data that could reveal the path for U.S. monetary policy. The Australian dollar edged closer to a three-month trough after some stickiness in inflation suggested a Reserve Bank of Australia interest rate cut is unlikely this year. The ADP employment report is due later in the day, ahead of the potentially crucial monthly payrolls report on Friday. "The U.S. dollar continues to garner strong support as markets adjust their rate path expectations," said James Kniveton, senior corporate FX dealer at Convera.

Persons: James Kniveton, Kniveton, Donald Trump, Rachel Reeves, Keir Starmer, Liz Truss Organizations: Reserve Bank of Australia, Federal Reserve, U.S ., Reserve Bank, Australia's, U.S, Treasury, Republican, European Central Bank, Sterling, Labor Locations: States, U.S, Australia, Europe

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