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2 mins read
Some Russians are spending like no tomorrow with 'considerable' overheating in the economy
Russia's central bank hiked interest rates from 16% to 18% to cool its overheated wartime economy.
Huileng Tan
2 mins read
From bankruptcies to price wars, the US freight recession is reshaping the industry
Bankruptcies and aggressive price cuts have defined the freight recession. It may take more default…
Filip De Mott
2 mins read
The US economy grew way faster than expected this spring
US real GDP blew past expectations in this year's second quarter. It rose 2.8% compared with a fore…
Madison Hoff
2 mins read
Inflation will rebound first before ultimately falling as wages and global conflicts push prices higher, BlackRock's chief investment strategist warns
Inflation is on a rollercoaster descent that could see prices swing higher into 2025, Wei Li warned.
Jennifer Sor
2 mins read
Americans want prices to go down, but deflation could spark a wave of unemployment, top economist Paul Krugman says
"So can we make America affordable again, in the sense of getting prices back to what they were bef…
Jennifer Sor
2 mins read
Chinese consumers aren't buying enough stuff, and it's taking a toll on the economy
Beijing framed China's second-half growth positively but acknowledged "insufficient" domestic deman…
Huileng Tan
3 mins read
A basic income program helped struggling kids enjoy huge success — and even become Olympians
A basic income program in rural Romania put one child on the path to jobs at Electronic Arts and Mi…
Theron Mohamed
3 mins read
AI, immigration, and rich people will save the US economy from a recession, Wall Street strategist says
"A restrictive Fed won't stop the music this time around because the economy's moving to a new rhyt…
Matthew Fox
6 mins read
Summer vacation is only getting more expensive for parents, with some spending thousands of dollars on camp: It's 'highway robbery'
Parents told BI that they're spending thousands to send their kids to camp or other summer care.
Juliana Kaplan,Madison Hoff
2 mins read
Russia is looking to rein in the country's property boom as it tries to cool an overheating economy
Russia's government has shelled out about half a trillion rubles since 2020 to fund a program that …
Jennifer Sor
3 mins read
The most immediate threat to China's economy isn't external. It's internal.
On Monday, Beijing released new data that underscores the scale of China's domestic consumption pro…
Huileng Tan
1 min read
Russia has made getting a divorce way more expensive in order to fund its war efforts
A drafted proposal in Russia would increase divorce fees by eightfold from current levels, Bloomber…
Filip De Mott
2 mins read
The US economy is headed into a corporate bankruptcy cycle that will spike unemployment, veteran forecaster says
Large bankruptcies are on track to surpass their peak during the pandemic, according to Danielle Di…
Jennifer Sor
6 mins read
Forget red and blue: America's real geographic divide is between bosses and their employees
Executives in New York, call centers in Orlando: American cities are facing a growing power imbalan…
Ned Resnikoff
4 mins read
Americans are sick of tipping culture and scaling back everywhere from restaurants to hair salons
A survey found some US adults think "tipping culture has gotten out of control." Bankrate's Ted Ros…
Madison Hoff
7 mins read
Uber and Lyft drivers are desperate for tips. Riders don't shell out, but they'll tip three times as often for food delivery.
Uber and Lyft drivers often struggle with low or infrequent tips, which many rely on to pay bills, …
Noah Sheidlower,Jacob Zinkula
2 mins read
Say goodbye to any hope of a rate cut next month
The 272,000 jobs added in May exceeded all 77 estimates collected by Bloomberg.
Filip De Mott
2 mins read
People are raiding their savings and racking up debt, paving the way for economic pain, expert warns
Soaring prices and borrowing costs mean people are spending nearly every dollar they have just to s…
Theron Mohamed
2 mins read
A record 8.5 million Chinese borrowers are now blacklisted for not paying their debts, a report says. They're feeling the same financial pressures as Americans.
Chinese consumers are defaulting on their credit cards, mortgages, and other debts in droves. Ameri…
Theron Mohamed
1 min read
A soft landing will be tough to achieve, and inflation has hit lower-income Americans hard, Citi CEO Jane Fraser says
"It's hard to get a soft landing," Citi's CEO Jane Fraser told CNBC on Monday. "We're hopeful, but …