Hong Kong's Status as an International Financial Center at Crossroads
Hong Kong lost its status as a global financial hub amidst shifting rankings and regulatory hurdles. Read the implications of China's tightening grip and cross-border capital flow uncertainties.
May 15, 2024 11:59 PM EDT
Hong Kong's Financial Status Plummets EUI from Fourth to Ninth Place Amidst Global Rankings and China's Grip
Hong Kong's business ecosystem has caused the EIU to downgrade it to ninth place and the Global Financial Centers Index to rank it fourth.
Can Taxing the Rich Save Social Security?
Due to a budget deficit, Social Security may not be able to provide retired Americans with their full payments in around ten years.
Trump Allies Gather as Cohen Testifies on 'Hush Money' Allegations
House Speaker Mike Johnson was among a group of close Republican allies of Donald Trump who showed up in the Manhattan criminal courthouse on Tuesday to express support for the former president while his attorneys tried to discredit the key witness in the "hush money" trial.
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Biden Administration Announces Additional $4.9 Billion in Student Loan Debt for 73,600 Borrowers
Biden administration announces a groundbreaking $4.9 billion discharge in student loan debt, bringing the total relief to an impressive $136.6 billion. Read more below
Jan 21, 2024 03:58 PM EST
Regional Banks Struggle with Profit Slump Despite Economic Rebound
Reminding us how difficult 2023 was, some of the most well-known midsized lenders in the country announced significant declines in profitability during the fourth quarter. The issue is that by 2024, not much improvement is anticipated.
Jan 19, 2024 11:10 AM EST
Insights from Davos: US Business Figures Contemplate a Trump Win in 2024
Dinners and parties at Davos have been dominated by talk about Donald Trump, with many attendees of the World Economic Forum considering the former president's possible candidacy for president again following his overwhelming victory in the Iowa vote.
Jan 19, 2024 09:24 AM EST
Congress Votes to Extend Government Funding, Avoiding Shutdown
A short-term budget package that would keep federal agencies funded until March and prevent an impending partial government shutdown was delivered to President Joe Biden by Congress on Thursday.
Jan 19, 2024 07:10 AM EST
Biden Aims to End Debt Spiral with Drastic Overdraft Fee Cut
The Consumer Financial Protection Bureau and the Biden administration have collaborated to present a proposed regulation that would curb bank overdraft costs, perhaps bringing them down to $3.
Jan 18, 2024 06:20 AM EST
Retail Rebound or Bubble Burst? December Surge Hides Underlying Inflation Concerns
December saw an increase in American retail spending, capping up the Christmas shopping season and the year on a positive note and indicating that consumers are still feeling secure enough to continue spending money.
Jan 18, 2024 12:19 AM EST
The New Middle Class, and How Gen Z Fits in to it
Gen Z is out of line with the reality of what a middle class salary in the United States is, but they are on the right track about a larger issue.
Jan 22, 2024 02:50 PM EST
Senate Adopts Stopgap Spending Measure, Preventing Immediate Government Shutdown
In an attempt to enact a stopgap budget bill in time for the rapidly approaching deadline at the end of the week, the Senate cleared its first obstacle on Tuesday night.
Jan 17, 2024 10:49 AM EST
Record National Debt Raises Concerns, But Average Impact on Individuals May Be Nuance
The national debt of the United States government just passed $34 trillion, setting a new high. But to what extent should you be concerned about the nation's borrowing?
Jan 18, 2024 01:30 AM EST
Bipartisan Bill Brings Joy to Toy Boxes and Boardrooms with Tax Tweaks
A bipartisan plan to prolong company tax deductions and increase the child tax credit was unveiled on Tuesday in an attempt to win approval from Congress before the January 29 tax season kicks out.
Jan 17, 2024 07:36 AM EST
AI & Climate Anxiety Rises: 6% More CEOs See Bleak 10-Year Outlook
According to a new survey of CEOs by one of the biggest consulting firms in the world, PwC, more executives are feeling better about the state of the global economy, but an increasing number believe their companies won't survive the next ten years without a major overhaul due to pressure from climate change and technology like artificial intelligence.
Jan 16, 2024 10:50 AM EST
Long-Term Food Supply Affected As Global Leaders Focus on Election 2024
International attempts to ensure long-term food supply might be derailed by the several impending international elections, warns the International Fund for Agricultural Development (IFAD).
Jan 16, 2024 09:40 AM EST
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