Federal Reserve eyes another rate cut

Federal Reserve eyes another rate cut

WASHINGTON — No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest might still be unresolved when the Fed ends … Read more

Tesla Day Trader Loses Entire $306M Fortune, Sues Canadian Bank For ‘Misleading’ Financial Advice

Tesla Day Trader Loses Entire 6M Fortune, Sues Canadian Bank For ‘Misleading’ Financial Advice

Carpenter Christopher DeVocht from the Sooke community of British Columbia, Canada, is among the few day traders who have grown thousands of dollars to hundreds of millions in a short span and then lost it all. DeVocht started as most traders do, following trading forums and backtesting strategies, but little did he know his C$88,000 … Read more

How A $16 ‘Buy Now, Pay Later’ Debt Blocked A Woman From Getting A Home Loan Despite $100k Savings

How A  ‘Buy Now, Pay Later’ Debt Blocked A Woman From Getting A Home Loan Despite 0k Savings

The popularity of buy-now-pay-later (BNPL) apps is growing rapidly, as are defaults and delinquencies. The slump in job markets and wage growth, alongside the high cost of borrowing due to elevated inflation, have already strained household budgets. Easier access to credit and flexible repayment options also lure younger generations to tap into loans even when … Read more

Uncertainty rattles global crude prices, puts spotlight on Alberta oil revenues

Uncertainty rattles global crude prices, puts spotlight on Alberta oil revenues

The volatility of international oil markets hit home again earlier this week, as crude prices tumbled to their lowest levels in more than a year.   Just a couple of weeks ago, West Texas Intermediate (WTI) prices — North America’s benchmark for crude oil — were around $75 US a barrel. This week, prices skidded to … Read more

3 Recession-Proof Lessons We Can Learn From the Medspa Industry

3 Recession-Proof Lessons We Can Learn From the Medspa Industry

Opinions expressed by Entrepreneur contributors are their own. Estée Lauder chairman Leonard Lauder called it the “lipstick effect” — the growth in demand for small luxuries during times of economic uncertainty. The assumption behind this phenomenon is that when people are under more stress, beauty and self-care rituals offer a form of psychological comfort. McKinsey … Read more

Australia’s Unemployment Rate Predicted To Hit 4.5% As Hiring Freeze Looms

Australia’s Unemployment Rate Predicted To Hit 4.5% As Hiring Freeze Looms

Australia’s unemployment rate is expected to peak at 4.5% over the next 12 months, as the private sector is entering a hiring freeze, signaling the country could be on the path toward recession, a new report has revealed. Based on the survey by the accounting firm, Deloitte, 101,500 Australians could become jobless in the next … Read more

‘Big Short’ Investor Michael Burry Ditches Gold, US Stocks For Cheap Chinese Internet Companies

‘Big Short’ Investor Michael Burry Ditches Gold, US Stocks For Cheap Chinese Internet Companies

Scion Asset Management founder Michael Burry is known for betting against the housing market during the 2008 financial crisis. The trade, which netted him $700 million, was chronicled in the award-winning film Big Short. His contrarian approach and unique foresight also prompted trades like buying water assets, forecasting future scarcity, and investing in GameStop before … Read more

Bank of Canada summary suggests weak job market was a concern ahead of July rate cut

Bank of Canada summary suggests weak job market was a concern ahead of July rate cut

The Bank of Canada wants the economy to pick up speed again and some members of its governing council are concerned that weak job market conditions could hinder that process. That’s according to the central bank’s newly released summary of deliberations detailing discussions ahead of the July 24 rate decision. “With the emergence of slack … Read more

Calm returns to Wall Street as U.S. stocks stabilize following recent volatility

Calm returns to Wall Street as U.S. stocks stabilize following recent volatility

U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by 1.6 per cent in midday trading and on track to break a brutal three-day losing streak. It had tumbled a bit more … Read more

Wall Street has its worst day since 2022 as fears of U.S. recession deepen

Wall Street has its worst day since 2022 as fears of U.S. recession deepen

Wall Street fell the most in nearly two years, continuing a global rout in financial markets as fears worsen that the U.S. economy is slowing down. The S&P 500 fell three per cent on Monday. The Dow Jones industrial average dropped more than 1,000 points and the Nasdaq composite slid 3.4 per cent. The declines were just the latest … Read more