Asian markets took a beating Tuesday after Moody's downgraded Hong Kong's credit, partially because of the coronavirus. There have been more than a dozen cases in neighboring Guangdong province, including at least one in nearby Shenzhen. Taiwan has reported its first case after a woman fell ill after stepping off a flight from Wuhan. … [Read more...] about The stock market is eerily calm again. Uh-oh…
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The Bank of England had predicted that unemployment would fall slowly, he said, – it fell far faster; it predicted that interest rates would have to be raised – they weren’t; and he said the economy hasn’t performed as expected either. … [Read more...] about Bank of England Governor Faces Demands To Quit For ‘Siding With Remain’
Josh: Yes, but that’s been holding up reasonably well so far. Wage growth is down compared to a few months ago but is stronger than it has been through most of this expansion, stronger than it was under Obama. Essentially it is catching up: The labor market has finally gotten somewhat tight, and so the economic growth we had earlier in the decade is translating into wage growth now. That catch-up growth — workers getting what had been going to shareholders — can continue even if economic expansion cools, so long as the labor market stays tight. … [Read more...] about Why Is the Stock Market Doing So Well?
The letter, which asked for banks to respond by Feb. 7, won’t just document banks' response to climate change, but also asks the financial institutions to go on the record on their support for a Warren bill that would require “bank stress tests” for various climate scenarios. … [Read more...] about Warren asks banks to turn over plans to prepare for climate change
BEIRUT - Lebanon's central bank, seeking to shore up battered confidence in the financial system amid the worst economic crisis in decades, said on Monday bank deposits are secure and it had the ability to preserve the stability of the pegged Lebanese pound. … [Read more...] about Lebanon Central Bank: Deposits are Safe, Banks to Review Curbs