Yi Gang, former head of the People’s Bank of China, emphasized the need for policymakers in China to prioritize boosting domestic demand during his speech at the Bund Summit in Shanghai. He highlighted the importance of focusing on combating deflationary pressure, particularly in the current economic climate. According to Yi, the key to addressing this
The latest research from CNBC has unveiled the official NFL Team Valuations, ranking professional football teams based on their overall franchise value. Calculated by CNBC senior sports reporter Michael Ozanian, these rankings take into account a team’s revenue, profit, and debt to give a comprehensive look at the financial status of the 32 clubs. It
Volvo Cars recently announced that it is adjusting its margin and revenue targets due to various factors, including global trade complexities and tariffs. The Swedish automaker, majority-owned by China’s Geely Holding, is now aiming for a 2026 EBIT margin goal of 7-8%, down from its previous target of “above 8%.” Additionally, Volvo Cars has shifted
Vice President Kamala Harris has put forward a plan to raise taxes on wealthy Americans and corporations, aligning with President Joe Biden’s budget proposal for fiscal year 2025. The proposal includes a 25% minimum tax on total income, targeting individuals with assets exceeding $100 million, known as the billionaire minimum tax. While Harris believes that
Visa recently announced plans to launch a dedicated service for bank transfers, bypassing the use of credit cards and traditional direct debit processes. This new service, known as account-to-account (A2A) payments, is set to revolutionize the way consumers make transactions in Europe. By allowing users to set up direct debits directly from their bank accounts
The buy-to-let market in London is facing a crisis as landlords are rushing to sell their properties amidst anticipated tax hikes from the U.K. Labour government. Recent data published by property portal Rightmove has shown that almost one-third of homes currently for sale in the capital were previously rented out. This trend is not limited
The article from CNBC TV’s Stocks @ Night discusses the performance of tech giant Broadcom and its position as the third biggest component in the VanEck Semiconductor ETF. It highlights the stock’s upward trend of 16% in the past three months and its 38% increase in 2024. While these numbers suggest a positive outlook, it
In recent weeks, the mortgage market has seen a significant shift towards refinancing, with interest rates declining for the fifth consecutive week. According to the Mortgage Bankers Association, total mortgage application volume increased by just 1.6% last week compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages also saw a
A recent asset allocation report from the network of ultra-high-net-worth investors and entrepreneurs, Tiger 21, has shed light on some surprising insights. More than half of Tiger 21’s members have chosen not to invest in chip darling Nvidia. The report revealed that a staggering 57% of members have steered clear of investing in Nvidia. One
Many younger retirees in America rely on Marketplace health insurance, especially since they are not eligible for Medicare before the age of 65. In light of this, boosted tax breaks have been offered to reduce monthly premiums until the end of 2025. This has resulted in an increase in the number of Americans aged 55