There’s an old joke in economics that stock markets have predicted nine out of the past five recessions. The point being that predicting a recession solely based on the stock market is difficult. “They can turn around on a dime. They can turn around in a heartbeat,” said James Angel, a finance professor at Georgetown…
Actors in traditional costumes perform for tourists at Zuidongfeng art village in Tancheng County, east China’s Shandong Province, April 6, 2025. (Photo/Xinhua) Beijing – In Liba Village, about 1.5 hours’ drive from downtown Chengdu in southwest China’s Sichuan Province, dozens of steaming hot pot tables dotted the fields, where tourists dined amid a golden sea…
Hong Kong’s commerce minister has rejected a lawmaker’s suggestion to merge public broadcaster RTHK with the government’s press department, saying there were no overlaps in job responsibilities. RTHK also came under fire on Wednesday over its staffing levels, with lawmaker Regina Ip Lau Suk-yee calling for in-depth reforms at the broadcaster and better use of…
By Casey Hall, Liam Mo and Che Pan SHANGHAI/BEIJING (Reuters) -Spurring reluctant Chinese consumers to spend has been elevated to the top of Beijing’s to-do list for 2025, leap-frogging technology and industrial production, as lawmakers look to rectify imbalances in the world’s second-largest economy. Chinese Premier Li Qiang’s report on Wednesday to the annual meeting…
Last week, the emergence of a new AI model from China’s DeepSeek sparked investor concern that the AI spending boom may cool off as companies find cheaper ways to fulfill their AI goals. This spawned a massive sell-off in Nvidia’s (NVDA) stock, with the prevailing thought being that companies may not allocate as much spend…
Bill Gates, in a recent Journal interview, said Elon Musk’s DOGE could be “a valuable thing.” Gates said the federal deficit will “create a financial problem” for the US if it isn’t reduced. But the Microsoft cofounder also said it was important to retain vital programs. Bill Gates, in a recent Wall Street Journal interview,…
Elon Musk and Vivek Ramaswamy aim to cut $2 trillion from the federal budget by June 4, 2026. They’ve said they will fire federal employees, “delete” agencies, and publicize all of their work. The DOGE leaders have name-dropped many causes they might target, like DEI efforts and public media. Elon Musk and Vivek Ramaswamy have…
80% of retirees are getting this RMD rule wrong ‘out of fear’ — and it could cost them thousands in lost income Many of us have the same goal: we’ll spend our working years putting away money so we have enough saved to draw an adequate income for a comfortable retirement. This dedication to savings…
A man in China became the target of ridicule on mainland social media after spending over 4 million yuan (US$550,000) on tipping a live-streaming anchor, all in a desperate attempt to hear her call him “brother”. He resorted to eating plain steamed buns to survive amid his financial ruin. The man, whose surname is Hong,…