economy

China’s yuan sinks to record low against the dollar | Emerging Markets

Chinese currency’s slide comes despite the central bank taking steps to prop up its value. China’s yuan has tumbled to a record low against the US dollar in offshore trading, joining a host of currencies experiencing sharp declines against the greenback. The offshore yuan, which is traded outside mainland China, fell to 7.2386 against the …

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Biden is working hard to undo problems created by Donald Trump

OPINION AND COMMENTARY Editorials and other Opinion content offer perspectives on issues important to our community and are independent from the work of our newsroom reporters. President Joe Biden speaks about the DISCLOSE Act in the Roosevelt Room of the White House in Washington, Tuesday, Sept. 20, 2022. (AP Photo/Andrew Harnik) Andrew Harnik AP It’s …

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Apple says it will make some of its iPhone 14 in India | Business and Economy News

Apple has asked manufacturers to shift production from China amid geopolitical tensions and pandemic restrictions. Apple Inc will make some of its iPhone 14s in India, the company has said, as manufacturers shift production from China amid geopolitical tensions and pandemic restrictions that have disrupted supply chains for many industries. “The new iPhone 14 lineup …

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How to protect your finances from a recession

PHILADELPHIA (WPVI) — Fears of a recession are mounting. Even before the latest rate hike on Wednesday, almost 7 in 10 US adults expressed concern about the possibility. That same survey by Bankrate.com revealed that 2 in 5 Americans feel unprepared to weather a recession, especially women, minorities and Gen-Zers. We talked to the experts …

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El-Erian says the Fed has made a ‘policy mistake of historical proportions’

Investors are paying the price for the Federal Reserve’s policy mistakes, according to Allianz economic advisor Mohamed El-Erian. “This is a two-part policy mistake of historical proportions,” the former CEO of bond giant Pimco told CNBC’s “Squawk Box” in a Monday interview. “Part No. 1 was being seduced by ‘transitory’ and doing nothing,” he added, …

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Pakistan’s Finance Minister Ismail to resign amid economic woes | Business and Economy News

Miftah Ismail is the fifth finance minister to quit in less than four years as Pakistan’s economic woes are worsened by recent flooding. Pakistan’s Finance Minister Miftah Ismail has said he will formally resign from the role amid an economic crisis exacerbated by the recent devastating flooding, as he becomes the fifth finance minister to …

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Social Security payment: Second half of direct monthly check worth $1,682 to be sent in six days

Recipients of Supplemental Security Income will receive the final half of their September payments in six days, marking the second payment of the month due to a scheduling quirk in the agency’s program. Eligible recipients can expect to receive the second payment of $841 on Sept. 30 after receiving the first payment at the beginning …

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Costco to keep $1.50 hot dog-and-soda combo ‘forever’ despite inflation: exec

A top Costco Wholesale executive confirmed the big-box retailer has no plans to change the price of its $1.50 hot dog-and-soda combo at its stores despite months of decades-high inflation. Costco CFO Richard Galanti reiterated the cheap price point on the fan-favorite deal would stay in place during the company’s fourth-quarter earnings call on Thursday. …

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