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A right-of-centre thinktank with close links to Downing Street has called for the pensions triple lock to be scrapped, the aid budget to be cut and child benefit further limited as part of £30bn worth of spending cuts designed to spare the UK from post Covid-19 tax increases. The Centre for Policy Studies (CPS) said its nine-point plan would ensure […]
Read moreNetflix Inc. (NFLX), Tuesday reported a third-quarter profit that fell short of Wall Street estimates, despite revenues increasing 23% and beating expectations. The online-video streaming giant’s subscriber additions were below outlook, sending its shares down 6% in the extended trading session. Netflix added 2.20 million subscribers globally in the quarter, lower than its forecast of 2.5 million, to end the […]
Read moreIf you’re thinking about buying a new home or refinancing your current mortgage, now may be a good time to take the plunge because interest rates may not stay this low for very long. (iStock) The pandemic flipped the economy on its head. On a positive note, mortgage rates hit record lows — and with these lower rates, now is the […]
Read moreMost Americans will not head to the polls to choose their next president for more than a fortnight. The unseen battle to shape the economic course of the Biden administration that may be ushered in on November 3 is already under way, however. Washington insiders argue the real "result" of the election will only become clear in the days after […]
Read moreIndustrial output undergirds recovery. China’s economic growth continued to gain momentum in the third quarter, with the GDP expanding 4.9% from a year earlier in the July-September period, according to official Chinese data released on Monday. The pace of expansion was faster than the preceding quarter’s 3.2% and underlined the rebound in the world’s second-largest economy at a time when […]
Read moreCheck out the mortgage rates for October 19, 2020 which are unchanged from last week. (iStock) Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, mortgage rates have not changed since this time last week, continuing to hover below 3% for the 13th consecutive week. Continue Reading Below 30-year fixed-rate refinance: 2.750%, the same as last week 20-year […]
Read moreDutch consumer electronics giant Philips Electronics NV (PHGFF.PK,PHG) reported Monday that its third-quarter net income grew to 340 million euros from 208 million euros last year. Earnings per share were 0.37 euro, up from 0.22 euro last year. Adjusted earnings per share were 0.60 euro, compared to 0.46 euro a year ago. Adjusted EBITA margin improved 300 basis points to […]
Read moreAirline furloughs leads to massive air travel drop The expired $25 billion stimulus package is causing airlines to furlough workers and cut flights. FOX Business’ Kristina Partsinevelos with more. U.S. airlines expect it will be years before their business recovers from the coronavirus pandemic, even after pulling together over $100 billion by tapping government aid and mortgaging assets including planes […]
Read moreWhat is auction theory? What are its applications? The story so far: American economists Paul R. Milgrom and Robert B. Wilson, both of whom teach at Stanford University, were awarded the 2020 economics Nobel Prize last week. This year’s Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to the duo “for improvements to auction theory […]
Read moreMulvaney: Agreeing on a stimulus this close to the election could hurt Trump Former Office of Management and Budget Director Mick Mulvaney on coronavirus stimulus negotiations and the presidential election. President Trump could get hurt politically with a coronavirus relief package so close to the 2020 presidential election due to a media bias, Mick Mulvaney, former acting White House chief of […]
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