The International Monetary Fund recently raised its forecast for China’s growth this year to 5%, up from 4.6% previously, citing strong first quarter figures and recent policy measures. This upgrade in forecast followed the IMF’s visit to China for a regular assessment. Additionally, the organization now expects China’s economy to grow by 4.5% in 2025,
American Airlines recently announced a significant cut to its sales outlook, painting a bleak picture for the company’s financial performance. This decision comes amidst the departure of Vasu Raja, the chief commercial officer, adding to the turbulence within the organization. The anticipated unit revenue decline of up to 6% in the second quarter is far
When it comes to claiming Social Security retirement benefits, experts agree that delaying is generally the best strategy. However, despite this advice, many individuals choose to claim their benefits early, either at age 62 or before reaching their full retirement age. Unfortunately, these early claims result in reduced Social Security benefits for the rest of
Recent trends in Chinese tourism have showcased a significant shift towards domestic travel, with more high-income households opting for local destinations over international trips. A survey conducted by consulting firm Oliver Wyman revealed that only 14% of high-income families in mainland China, earning at least 30,000 yuan a month, are planning to travel abroad again
Starbucks recently reported a challenging quarter, with U.S. same-store sales falling by 3% and a 7% drop in traffic. As a result, the company had to cut its 2024 forecast. The CEO, Laxman Narasimhan, acknowledged that Starbucks was facing a more cautious consumer base when it comes to spending. He also identified the need for
Semler Scientific, a relatively unknown medical technology company, made headlines when it announced its decision to invest in bitcoin as its primary treasury reserve asset. This move, inspired by MicroStrategy’s similar actions, caused a surge in the company’s stock price by 37%. Additionally, Semler purchased 581 bitcoins worth $40 million, demonstrating its commitment to the
In a move that aims to revolutionize the trading landscape on Wall Street, the implementation of T+1 settlements will mark a significant shift in the way trades are settled. This process, which involves the exchange of money for securities, is set to take effect starting this week. The transition from a two-business-day settlement period to
In recent years, there has been a significant increase in the number of Roth individual retirement account conversions. Data from Fidelity Investments shows a 44% year-over-year growth during the first quarter of 2024. This type of conversion involves transferring pretax or nondeductible individual retirement account funds to a Roth IRA, which offers the benefit of
March 12 typically marks Equal Pay Day, symbolizing the point in the year when women have to work to catch up to what their male counterparts earned in the previous year. This gap in earnings is known as the gender pay gap. For Asian American, Native Hawaiian, and Pacific Islander women, however, Equal Pay Day
As the cost of living continues to rise in the United States, more consumers are turning to alternative forms of credit to make ends meet. One such option that has gained significant popularity in recent years is Buy Now, Pay Later (BNPL) programs. According to a new report by NerdWallet, BNPL loans have become the