Social Security cost-of-living adjustment could be at least 6% in 2022

The Social Security cost-of-living adjustment for 2022 could be 6% to 6.1%, according to one new estimate. That is down from 6.2% projected last month, as new Consumer Price Index data released on Tuesday signals cooling inflation. Still, the prospective increase to monthly benefit checks next year could be the highest it has been since… Continue reading Social Security cost-of-living adjustment could be at least 6% in 2022

Elon Musk praises China’s economic progress on Communist Party anniversary

More On: elon musk Musk calls rocket launch regulations ‘broken’ after SpaceX delay Tesla model’s ‘Top Pick’ status restored after safety concerns Whose rocket is bigger? How Musk, Branson and Bezos’ space stuff stacks up ‘Moment of truth’: Tesla recalls 285K cars in China Elon Musk heaped praise on China’s economic development late Wednesday night… Continue reading Elon Musk praises China’s economic progress on Communist Party anniversary

Supply chain pressures are still a problem due to workforce shortages, manufacturing group says

Supply chain disruptions and inflated prices are not abating yet, National Association of Manufacturers CEO Jay Timmons told CNBC on Thursday. "We're seeing rising cost pressures" due to workforce shortages and demand exceeding supply, he said. "What that's doing is it's causing bottlenecks in a lot of the supply chain for manufacturers who make the… Continue reading Supply chain pressures are still a problem due to workforce shortages, manufacturing group says

Developing Asia to recover strongly, but COVID-19 risks remain – ADB

MANILA (Reuters) – Developing Asia’s economic rebound this year could be stronger than previously thought, the Asian Development Bank said on Wednesday, underpinned by expectations of a solid global recovery and progress on vaccines.FILE PHOTO: Buildings in the Central Business District (CBD) are seen lit up during the night in Beijing, China April 15, 2021.… Continue reading Developing Asia to recover strongly, but COVID-19 risks remain – ADB

‘Coiled spring’: The UK’s economic surge has taken the world by surprise

Two cheers for the British Wirtschaftswunder. It may not be an economic miracle, but the accelerating recovery now under way is a breathtaking turn of fortunes for the much denigrated Brexit economy. The UK will probably regain pre-COVID levels of output before the eurozone, perhaps by Christmas. By the end of next year it may… Continue reading ‘Coiled spring’: The UK’s economic surge has taken the world by surprise

Black Friday, Sideways Activity, U.S. Trade Relations: Eco Day

Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day: It’s Black Friday — and holiday shopping is moving to the couch (mostly) The latest readings of alternative, high-frequency data show that economic activity in the U.S. and Canada continued to move sideways during the last… Continue reading Black Friday, Sideways Activity, U.S. Trade Relations: Eco Day

Lebanon's battered economy dealt fresh blow after port blast hits 'Achilles heel'

AMMAN (Reuters) – Lebanon’s economy, already sinking before the explosion that knocked out its main port, could now shrink by double the rate previously forecast for this year, making it even harder to secure the financing the country needs to get back on its feet. Economists say Tuesday’s blast, which also damaged large parts of… Continue reading Lebanon's battered economy dealt fresh blow after port blast hits 'Achilles heel'

Pandemic pushes South Korea into recession as GDP contracts 3.3% in Q2

SEOUL (Reuters) – South Korea’s economy recorded its first technical recession since 2003 in the June quarter, as health restrictions from the coronavirus pandemic hammered economic activities and global demand. Gross domestic product (GDP) decreased by a seasonally adjusted 3.3% in the June quarter, the central bank said on Thursday, after declining 1.3% in the… Continue reading Pandemic pushes South Korea into recession as GDP contracts 3.3% in Q2

Blockchain Changes Gaming Economics, Forte Exec Explains

During a gaming-focused Unitize digital conference panel, Mike Termezy, vice president of token economics at blockchain technology services company Forte Labs, explained blockchain can alter gaming market ecosystems. Blockchain can lay out more clearly-defined scarcity parameters in gaming During the panel, Termezy, along with gaming expert and principal at Gossamer Consulting Group, Eric Kress, discussed… Continue reading Blockchain Changes Gaming Economics, Forte Exec Explains

Cointelegraph Joins World Economic Forum’s Strategic Intelligence Network

We are excited to announce that Cointelegraph has joined the World Economic Forum’s Strategic Intelligence contributor network as a content partner, supplying the latest blockchain and cryptocurrency industry news, market analysis and op-eds into its sophisticated and wide-ranging knowledge base. Launched in 2019, Strategic Intelligence uses a combination of professional and AI-driven analysis to curate… Continue reading Cointelegraph Joins World Economic Forum’s Strategic Intelligence Network

U.S. firms may face probes over payroll loans, Treasury, DOJ officials warn

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money. Mnuchin said on Fox Business Network it was “questionable” whether some larger companies qualified for the Paycheck Protection Program (PPP),… Continue reading U.S. firms may face probes over payroll loans, Treasury, DOJ officials warn

How governments can juice economic growth

US economy is in good shape: Philadelphia Fed President Philadelphia Federal Reserve Bank President Patrick Harker discusses his outlook for the economy. The U.S. economy grew at a pace of 2 percent in the second quarter, and forecasts indicate that slower growth could persist through the end of the year. Continue Reading Below Some economists… Continue reading How governments can juice economic growth

Treasury yields mixed as investors follow US-China trade talks

Investors are taking a cautious approach as the Federal Reserve sounds more dovish. Speaking to CNBC on Monday, Chicago Federal Reserve President Charles Evans said that he’d be comfortable leaving interest rates untouched until autumn 2020. U.S. government debt prices were mixed Tuesday as traders cautiously weighed the prospects of a cute to rates and… Continue reading Treasury yields mixed as investors follow US-China trade talks