Half an hour before noon on a sunny morning in Istanbul, dozens of people queued at a restaurant bearing a logo of a heart waving in a bowl. A blackboard advertised the menu: tomato soup and green bean and meat stew, with a pastry. of kent restauranta sort of city-subsidized restaurant, filled up moments after … Read more
Kostas Fostieris winced as he recalled the weekday crowds that once flocked to Greek Deli & Catering, a small restaurant a few blocks from the White House that he has operated for 35 years. At lunch, the line would stretch to the block, Mr. Fostieris said. But then the coronavirus pandemic swept the nation and … Read more
Nearly three in five Americans mistakenly believe the US is in an economic recession, and most blame the Biden administration, according to a Harris poll conducted exclusively for the Guardian. The survey found continued pessimism about the economy as Election Day nears. The survey highlighted many misconceptions people have about the economy, including: 55% believe … Read more
The Marriner S. Eccles Federal Reserve Building during a renovation in Washington, DC, US, Tuesday, Oct. 24, 2023. Valerie Plesch Bloomberg | Getty Images Federal Reserve officials appear to have “no idea” what’s going on when it comes to the US inflation outlook, according to Julian Howard, chief investment officer for multi-asset solutions at GAM. … Read more
A closely watched economist is warning that a major economic event last seen nearly a century ago is likely to rear its ugly head in 2025. Henrik Zeberg tells his 140,700 followers on social media platform X that he sees risk assets such as stocks and cryptocurrencies going higher in the coming months. However, the … Read more
(Bloomberg) — Japan’s 10-year sovereign bond yield hit the key psychological level of 1% for the first time since the Bank of Japan ramped up unprecedented stimulus in 2013. Most Read by Bloomberg The focus now turns to how soon super-easy monetary policy will return and how much further yields can rise. Yields on 20- … Read more
News of housing crises, the exodus of workers and budget cuts tell a tale of the slow decline of American cities. However, according to the latest Global Cities Index from research group Oxford Economics, six US cities are still the “leading engines of the global economy”. New York, Los Angeles, San Jose, Seattle, San Francisco … Read more
(Bloomberg) — Massachusetts will lose almost $1 billion in annual revenue by 2030 as high taxes and housing costs push wealthy residents to move elsewhere. Most Read by Bloomberg Migration from Massachusetts to other US states accelerated during the pandemic as the rise of telecommuting made it more feasible to live further from the office. … Read more
Unlock Editor’s Roundup for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. Prices are falling on thousands of items at Target and Walmart, as results from U.S. retailers show weariness among some consumers after three years of high inflation. Target this week said it would cut prices this … Read more