Author: admin
My top 10 things to watch Wednesday, March 5 1. U.S. companies slowed hiring dramatically in February, according to ADP’s monthly private payrolls report. Only 77,000 jobs were added last month, roughly half the estimate and way below January’s upwardly revised 186,000. 2. Wall Street took the news in stride this morning ahead of Friday’s government employment report. The ADP numbers are just another sign of a slowing economy and supportive of the case for further Fed interest rate cuts. 3. Tariffs are still top of mind after yesterday’s stock market plunge and President Donald Trump ‘s address last night…
China has set its highest deficit ratio in history – 4 per cent this year, allowing for more government spending than under the traditional 3 per cent – as the country looks to expand its fiscal horizons to meet its goals for economic growth and offset US tariff hikes.Released along with other major annual benchmarks in the annual government work report, the higher deficit ceiling is seen by analysts as foundational to the policy framework being crafted in response to a resurgent trade war presided over by US President Donald Trump.“They will use stimulus to offset tariffs, so China can…
The Japanese yen dropped in Asian trade on Wednesday on track for the second straight loss against the dollar, moving away from five-month highs on profit-taking. Recent bullish remarks from some Bank of Japan officials hurt the odds of a Japanese rate hike in March as markets now await more data. The yen is also pressured by higher US 10-year treasury yields before a series of important US labor data. The Price The USD/JPY pair rose 0.25% today to 150.18 yen per dollar, with a session-low at 149.57. The yen lost 0.2% on Tuesday against…
Expected US deals with Canada and Mexico, both hit by US import tariffs this week, may foreshadow multiple countries aligning their trade rules with President Donald Trump’s punitive push against China to avoid more trouble from Washington, analysts said on Wednesday.Officials from Mexico and Canada “were on the phone with me all day today, trying to show that they’ll do better”, US Secretary of Commerce Howard Lutnick said via X on Tuesday, after Trump hit both neighbours with 25 per cent tariffs.But Lutnick did not mention talks with China, a geopolitical rival that was slapped with an additional 10 per…
IPS to showcase latest technologies and smart solutions, reflecting Dubai’s commitment to building sustainable citiesDubai Land Department has announced the launch of the 21st edition of IPS 2025, a global platform for real estate professionals, to be held from April 14 to 16, 2025, at the Dubai World Trade Centre.This comes as part of their ongoing partnership and commitment to engage with the real estate investor community, industry leaders, innovators, and professionals, and to strengthen their confidence in the real estate sector in the emirate.Building new relationshipsIPS brings together real estate developers, investors, buyers, banks, and real estate brokers under…
A person exits a Home Depot store in Midtown Manhattan on February 26, 2025 in New York City. Eduardo Munoz Alvarez | Corbis News | Getty ImagesPrivate sector job creation slowed to a crawl in February, fueling concerns of an economic slowdown, payrolls processing firm ADP reported Wednesday.Companies added just 77,000 new workers for the month, well off the upwardly revised 186,000 in January and below the 148,000 Dow Jones consensus estimate, according to seasonally adjusted figures from ADP.The total was the smallest increase since July and comes at a time when worries are rising that economic growth is slowing and…
Markus Söder (l-r), Chairman of the CSU and Minister President of Bavaria, Friedrich Merz, candidate for Chancellor of the CDU/CSU, Chairman of the CDU/CSU parliamentary group and Federal Chairman of the CDU, Lars Klingbeil, Chairman of the SPD parliamentary group and Federal Chairman of the SPD, and Saskia Esken, Party Chairwoman of the SPD, hold a press conference on the exploratory talks between the CDU/CSU and the SPD.Kay Nietfeld/dpa | Picture Alliance | Getty ImagesGermany’s prospective fiscal U-turn could prove transformational for the country’s struggling economy and for European defense — but Berlin lawmakers don’t have much time to make…
The European Central Bank is expected to cut interest rates for the second time this year at its Thursday meeting, but disagreement among policymakers may be set to increase amid tariff uncertainty and a potential ramp-up in regional defense spending.Markets had on Wednesday fully priced in a quarter-point rate cut for the March meeting, taking the ECB’s key rate to 2.5% — down from its peak of 4% in the middle of last year. A further reduction to 2% by the end of the year was also priced in.A relatively swift pace of monetary easing has been expected over the…
Tesla’s CEO accuses OpenAI of straying from its mission to prioritize corporate gain over humanityA U.S. judge has rejected billionaire Elon Musk’s plea for a preliminary injunction to halt OpenAI’s shift to a for-profit model, while also agreeing to expedite a trial set for this fall. This marks the latest development in the high-stakes legal battle.Musk does not meet “the high burden required for a preliminary injunction” to prevent OpenAI’s conversion, stated U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California. However, Rogers emphasized in her order that she aims to resolve the lawsuit swiftly due to “the public interest…
Authority will bolster Saudi Arabia’s investment landscape and aims to consolidate the Kingdom’s position as a world-class investment hubSaudi Arabia’s cabinet approved the formation of the Investment Marketing Authority in its latest meeting, marking a major milestone in the country’s efforts to attract additional foreign direct investment and diversify its economy away from oil.In a statement following the authority’s approval, Investment Minister Khalid Al-Falih thanked the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for the Cabinet approval of…