U.S. Weekly Jobless Claims Inch Up Slightly Less Than Expected

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a slight increase in first-time claims for U.S. unemployment benefits in the week ended May 27th. The report said initial jobless claims crept up to 232,000, an increase of 2,000 from the previous week’s revised level of 230,000. Economists had expected jobless […]

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China Manufacturing Sector Recovers In May

China’s manufacturing activity expanded for the first time in three months in May as strong new orders boosted production, survey results from S&P Global revealed on Thursday. The Caixin manufacturing Purchasing Managers’ Index picked up to 50.9 in May from 49.5 in April. The reading was forecast to remain unchanged at 49.5. The latest reading was above the neutral 50.0 […]

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Investors warned off AI ‘gold rush’ as Nvidia shares soar

Save articles for later Add articles to your saved list and come back to them any time. US tech firm Nvidia, which makes advanced chips needed to train and run artificial intelligence (AI) networks, recently upgraded its revenue outlook by 50 per cent, sending its share price soaring. The share prices of other US-listed companies, such as semiconductor maker Advanced […]

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Iceland Central Bank Raises Key Interest Rate To 8.75%

Iceland’s central bank raised its key interest rate sharply at its May meeting on Wednesday to contain the risk of a wage-price spiral in the face of strong demand pressures, and the policy board hinted that further rate hikes would bring inflation back to the target range and thereby ensure a better balanced economy. The Monetary Policy Committee of the […]

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When will the minimum super withdrawal rate return to normal?

Save articles for later Add articles to your saved list and come back to them any time. My question is about the mandatory drawdown rates for people who have their superannuation in pension mode. These rates were halved due to COVID, and I’m wondering if they will be continued after June 30. There has been no specific announcement, but the […]

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Eurozone Inflation Accelerates As Expected

Eurozone inflation rose as estimated in April on higher food and energy prices, while core inflation slowed slightly, final data from Eurostat showed Wednesday. The harmonized index of consumer prices posted an annual growth of 7.0 percent in April, following a 6.9 percent rise in March. The rate was in line with the preliminary estimate released on May 2. By […]

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Applications Open Soon for Cambridge, MA, $500 Guaranteed Income Program

Guaranteed income programs have grown immensely popular since the COVID-19 pandemic. Over the past couple of years, several states and cities have come up with their own version of guaranteed income programs targeting specific groups. Now, a Massachusetts city, Cambridge, has also decided to try a similar program. The Cambridge guaranteed income program would give $500 per month to low-income […]

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