Economy

The U.S. labor market continues to flex its muscle as applications for jobless claims fell again last week and remain at healthy levels in the face of high interest rates and inflation.Applications for unemployment benefits dropped by 11,000 to 239,000 for the week ending August 12, down from 250,000 the…

The 2010s were Germany’s decade. A Jobwunder (employment miracle) that began in the 2000s reached full flower, largely unimpeded by the global financial crisis of 2007-09, as labour reforms introduced by Gerhard Schröder, chancellor from 1998 to 2005, combined with China’s demand for manufactured goods and a boom in emerging markets to add 7m…

BEIJING, Aug 17 (Reuters) - With China at risk of tipping into prolonged stagnation and a spiralling property crisis threatening financial stability, there is growing unease over why its leaders are not rushing to revive the world's second-largest economy.Even in a country known for opaque and drawn-out decision making, investors, analysts and…

Chinese policymakers are facing calls to do more to prop up the ailing real estate market after the largest property developer, Country Garden, warned of multibillion-dollar losses and missed bond payments. The world's 138th largest company, according to business magazine Fortune, said last week that due to a "decline in sales in the real estate…

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON/SINGAPORE, Aug 17 (Reuters) - The dollar hovered around a two month-high on Thursday after the Federal Reserve Minutes left the door open for more rate hikes and data this week pictured a resilient…

BEIJING (AP) — Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said Western countries are “increasingly in trouble” because of their materialism and “spiritual poverty.”Xi’s speech was published by Qiushi,…

Cash-strapped Sri Lanka is likely to get help from its largest bilateral creditor China ahead of IMF's bailout plan. According to the PTI agency report, China has assured the island nation it will address the debt challenges before it finalises the external…

Receive free Chinese economy updatesWe’ll send you a myFT Daily Digest email rounding up the latest Chinese economynews every morning. Beijing’s economic woes worsened last week after it emerged China had fallen into deflation. The news highlights how the country is struggling to live up to expectations of a strong recovery after emerging…

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS/file photo Acquire Licensing RightsSINGAPORE, Aug 17 (Reuters) - Oil prices were choppy on Thursday after falling over the past three sessions, with the undertone grim on worries that…

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN  —  Last year, as interest rates rose and inflation stayed stubbornly high, total household wealth declined for the first time…