Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies

Turkish lira whipsaws following new loan ban that's set to affect thousands of companies

A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it … Read more

Consumers are feeling even worse about the US economy thanks to inflation

Consumers are feeling even worse about the US economy thanks to inflation

The final index reading of 50 in the monthly Surveys of Consumers was just below the preliminary reading of 50.2 released two weeks ago. The final June index — a 14.4% drop since May — represents the lowest recorded level since the university started collecting consumer sentiment data in November 1952. “Consumers across income, age, … Read more

What’s gold price outlook as markets shift from inflation to recession fears?

What's gold price outlook as markets shift from inflation to recession fears?

(Kitco News) Gold’s volatility has been relatively low compared to other assets as the precious metal retains its “mild bull market” status and trades comfortably between $1,800-$1,900 an ounce. But don’t expect a gold price rally until some confidence returns to the marketplace, according to MKS PAMP. There is a shift … Read more

Mortgage rates rise again, pricing more buyers out of the housing market

Mortgage rates rise again, pricing more buyers out of the housing market

The 30-year fixed-rate mortgage averaged 5.81% in the week ending June 23, edging up from 5.78% the week before, according to Freddie Mac. This time last year, rates averaged 3.02%, and the last time rates were this high was in the winter of 2008. “Fixed mortgage rates have increased by more than two full percentage … Read more

Many C-suite executives want to quit over burnout: survey

Many C-suite executives want to quit over burnout: survey

More than two-thirds of executives in corporate America’s top-earning C-suites say they are mulling whether to quit their jobs due to burnout, according to the results of a Deloitte survey released Wednesday. The survey found that 69% of C-suite executives said they were “seriously considering quitting for a job that better supports their well-being.” That … Read more

Rail strikes and labor shortages are hurting UK economy

Rail strikes and labor shortages are hurting UK economy

The problem escalated Tuesday as thousands of rail workers went on strike over demands for better pay and working conditions — the biggest walkout on the railways in 30 years — bringing large parts of the network to a halt. More strikes are set for Thursday and Saturday. A separate strike by workers on London … Read more

US recession this year is more likely than not: Nomura analysts

US recession this year is more likely than not: Nomura analysts

The US economy is more likely than not to sink into a recession this year as the Federal Reserve tightens monetary policy in its bid to cool decades-high inflation, economists warned Monday. “Disruptions in the energy and food sectors, coupled with declining consumer sentiment, are contributing to a looming economic slowdown in the US and … Read more

The most popular air travel day this year was aa mess and things won’t change anytime soon

The most popular air travel day this year was aa mess and things won't change anytime soon

Given that this long summer weekend also coincides with Father’s Day, that means there will be a lot of travel going on. The Friday before Juneteenth clocked in as the most popular air travel day of 2022, according to statistics from the Transportation Security Administration. Airports haven’t been that crowded since Thanksgiving 2021. TSA officers … Read more

The most popular air travel day this year was aa mess and things won’t change anytime soon

The most popular air travel day this year was aa mess and things won't change anytime soon

Given that this long summer weekend also coincides with Father’s Day, that means there will be a lot of travel going on. The Friday before Juneteenth clocked in as the most popular air travel day of 2022, according to statistics from the Transportation Security Administration. Airports haven’t been that crowded since Thanksgiving 2021. TSA officers … Read more

Here are three things the Fed’s done wrong, and what’s still not right

Here are three things the Fed's done wrong, and what's still not right

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from … Read more