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China’s economic policymakers are currently facing the challenge of addressing deflationary pressures and boosting domestic demand. Former head of the People’s Bank of China, Yi Gang, emphasized the importance of focusing on proactive fiscal policy and accommodative monetary policy to stimulate economic growth during the Bund Summit in Shanghai. This article delves into strategies and
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Vice President Kamala Harris has outlined her economic agenda, which includes higher taxes on wealthy Americans and corporations. The plan endorses the tax increases proposed by President Joe Biden for the fiscal year 2025 budget. This includes a 25% minimum tax on total income, which would also cover “unrealized gains” exceeding $100 million. However, experts
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Visa recently announced its plans to launch a dedicated service for bank transfers, bypassing traditional methods such as credit cards and direct debits. This move marks a significant shift in the way payments are processed and managed, especially in the European market. The new service, known as account-to-account (A2A) payments, is set to launch in
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There is growing concern in the London property market as landlords are increasingly selling their buy-to-let properties, particularly in the capital city. According to recent data from property portal Rightmove, almost one-third of homes currently for sale in London were previously rented out. This trend is reflective of a wider increase in rental property sales
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Recent data from the Mortgage Bankers Association shows that the demand for mortgages is heavily tilted towards refinancing. Interest rates have been on a decline for the fifth consecutive week, leading to an increase in total mortgage application volume by just 1.6% compared to the previous week. The average contract interest rate for 30-year fixed-rate
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The Tiger 21 network, comprised of ultra-high-net-worth investors and entrepreneurs, recently released a second-quarter asset allocation report that sheds light on its members’ investment preferences. Surprisingly, more than half of the network’s members, totaling over 1,450 individuals with a combined personal wealth of $165 billion, do not have any investments in chip giant Nvidia. The
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