In June, the median policy maker’s projection for the unemployment rate called for a half-point increase, to 4.1%, by the end of 2024. Since then, monthly data on consumer prices have been disappointing: The latest report, published by the Labor Department on Sept. 13, showed inflation over the last year was still 8.3%. .
(Bloomberg) — A US visa program that attracted $37 billion in foreign investments since 2008 for projects including New York’s Hudson Yards and Trump Bay Street in Jersey City is making a comeback — and the queue of wealthy applicants from China to India is growing. The revived EB-5 program is poised to fund undertakings … Read more
(Bloomberg Businessweek) — Central banks are intent on driving the world economy perilously close to a recession. Late to see the worst inflation in four decades coming, and then slow to crack down on it, the Federal Reserve and its peers around the globe now make no secret about their determination to win the fight … Read more
As their 73-year-old father, the ruler of Dubai, hands them more responsibility, Sheikh Hamdan bin Mohammed Al Maktoum, 39, and brother Sheikh Maktoum, 38, have each carved out a niche. They face the task of safeguarding Dubai’s status as the Middle East’s pre-eminent business hub amid competition from regional rivals and international scrutiny following Russia’s … Read more
The capital of Sichuan province, Chengdu is the biggest city to have shut down since Shanghai’s bruising two-month lockdown earlier this year. The lockdown in Chengdu followed that of Shenzhen and Zhengzhou, which deployed seven-day citywide restrictions. Strict, quick action to stamp out Covid is key to China’s zero-tolerance approach to the virus, which President … Read more
Some big European luxury brands have asked Alrosa’s rival, De Beers, to increase sales to suppliers they trust, according to people familiar with the matter who asked not to be identified discussing private information. The company has made some efforts to do so, but has little extra to sell, the people said. .