Key moments Wage growth slows, and the unemployment rate rises Thames Water’s senior creditors submit a £5 billion rescue plan Asian shares buoyed as US-China trade talks continue for a second day in London Wage growth cools and jobless rate rises to 4.6% UK wage growth slowed in the three months to April and unemployment…
Hong Kong’s restaurant industry faces a bleak second half of the year as both low-cost and high-end operators succumb to the economic slowdown, sector leaders have warned, putting part of the blame on the trend of residents heading across the border to spend. Industry representatives gave their grim assessment on Sunday, just days after King…
Hong Kong’s restaurant industry faces a bleak second half of the year as both low-cost and high-end operators succumb to the economic slowdown, sector leaders have warned, putting part of the blame on the trend of residents heading across the border to spend. Industry representatives gave their grim assessment on Sunday, just days after King…
By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at “60 Minutes,” CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Updated on: May 2, 2025 / 8:45 AM EDT / CBS News…
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…
NEW YORK, NEW YORK Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New … More York City. Recession risk has risen after the implementation of tariffs. (Photo by Michael M. Santiago/Getty Images) Getty Images U.S. recession risks have risen sharply with the announcement of new tariffs. The…
The earnings of low-income immigrants from mainland China in Hong Kong fell below pre-pandemic levels last year, with the recovery of income levels disrupted by an influx of new workers and a slowdown in consumer spending, a university-led study has found. The study, led by Baptist University (HKBU), collected the employment data of 3,236 working-age…
Global stock markets started the week on the front foot on Monday as investors welcomed China’s plans to kickstart consumption in the world’s number two economy, with upcoming central bank rate decisions also in focus. Relief about a US government shutdown being avoided helped counterbalance disappointing US economic data. Investors were keeping tabs on Beijing…
President Donald Trump’s impact on the U.S. economy is under scrutiny as fears of a potential recession grow, particularly as tariffs are implemented on Mexico, Canada and China. Trump was pressed about recession speculation on Sunday and said that he “hates to predict things like that” and said the country is in a transition period….
U.S. Congresswoman Kimberlyn King-Hinds said she will introduce a bill for a $400 million federal bailout as requested by Gov. Arnold I. Palacios. But in a press conference on Thursday, the governor said he was not asking for a bailout, but for “repurposing” a total of $414 million in Pandemic Unemployment Assistance and Federal Pandemic…