The notion of extending one’s working years is increasingly being embraced by Americans as a remedy for inadequate retirement savings. Recent findings from a CNBC and SurveyMonkey survey indicate that approximately 27% of working individuals plan to continue working during retirement to supplement their income. The survey gathered responses from 6,657 adults, both retirees and
Finance
China’s economic stability is currently grappling with substantial challenges, primarily stemming from a long-developing real estate crisis. Over the past two decades, a significant portion of Chinese household wealth was invested in real estate, rendering it a cornerstone of financial security for many families. However, a drastic shift unfolded when China’s government began implementing reforms
The United States Federal Reserve is poised to commence its rate-cutting cycle, projected to be notably gradual when it officially implements changes during its September meeting. Fitch Ratings, in its latest global economic outlook report, highlights this anticipated easing as significantly “mild” compared to historical precedents. The agency estimates a series of cuts—culminating in a
Recent data from China’s National Bureau of Statistics paint a concerning picture of the country’s economic performance in August. Retail sales, which are a crucial barometer for consumer spending, increased by only 2.1% compared to the previous year. This figure fell short of economists’ predictions, which had anticipated a growth rate of 2.5%. In addition
As the world looks towards China as a significant player in the global economy, the nation grapples with its own intricate challenges, particularly when it comes to stimulating consumer consumption. In July, the Chinese government unveiled an ambitious initiative aiming to boost domestic consumption through a substantial allocation of 300 billion yuan (around $41.5 billion)
Dutch challenger bank Bunq has announced ambitious plans to increase its global headcount by 70% this year, bringing the total number of employees to over 700. This move comes at a time when many other financial technology startups are facing pressure to downsize and cut jobs due to the challenging economic environment. Bunq, which currently
Recently, a top Federal Reserve official announced revisions to a proposed set of U.S. banking regulations that significantly reduces the additional capital required for the largest financial institutions. Initially, the Basel Endgame regulatory overhaul, introduced in July 2023, aimed to increase capital requirements for the world’s largest banks by 19%. However, following feedback from various
JPMorgan Chase experienced a significant decline in share value after the bank’s president expressed concerns about the optimistic expectations for net interest income (NII) in 2025. The bank is striving to achieve its 2024 target of approximately $91.5 billion in NII. However, the current estimate for 2025 of $90 billion was deemed to be unrealistic
As the U.S. Federal Reserve gears up for its upcoming meeting, opinions on the potential rate cut are largely divided. According to Michael Yoshikami, CEO of Destination Wealth Management, a jumbo 50 basis point rate cut could be on the table without spooking markets. This move, as suggested by Yoshikami, would demonstrate the central bank’s
The U.K. is facing criticism for its lackluster growth and poor rates of GDP per head in the technology sector. Warren East, former CEO of British chip design firm Arm, emphasized the need for a mindset shift from the investor community to enable U.K.-based technology businesses to succeed on the world stage. He highlighted that