archiveeconomy

Tesla trade-ins hit record high amid Elon Musk controversyTesla trade-ins have reportedly hit a record high amid a brand crisis linked in part to CEO Elon Musk's involvement in the Trump administration. According to the Washington Post, Teslas made up 0.4% of all vehicles traded at traditional dealerships a year ago. That figure doubled to 0.8% in January.unbranded - NewsworthyU.S. stocks plunged, with the Dow closing down more than 700 points and the S&P 500 shedding over 100 points amid heightened inflation and tariff concerns.The Fed's preferred inflation measure, the...

The latest: The top rates on online bank accounts, money market mutual funds, and short-term Treasuries have slipped from last fall’s peak above 5 percent.But thanks to a cautious Federal Reserve and a murky economic outlook, they’re still hanging in at 4 to 4.5 percent, much better than the pitiful yields that prevailed for years before inflation forced the Federal Reserve to jack up borrowing costs in 2022.After slicing rates by a full point last year, the Fed has hit pause. Fed chair Jerome Powell said last week that policy...

The Indonesian rupiah yesterday fell to its lowest level since the Asian financial crisis of 1998, reflecting concerns about the government’s fiscal trajectory and the uncertainties about incoming U.S. tariffs. According to The Jakarta Post, the rupiah momentarily fell to around 16,654 against the U.S. dollar, its weakest since June 1998, before recovering slightly. The currency has been one of the worst performers in emerging markets in 2025, declining by more than 3 percent since the start of the year. Tuesday’s reading was slightly lower than the previous low of...

Governor Kay Ivey on Monday announced the release of the “2024 New and Expanding Industry Announcements Report,” highlighting another banner year for Alabama’s economy. The report reveals that economic development efforts in 2024 secured $7 billion in new capital investments across 224 projects, generating more than 8,500 career opportunities for Alabamians. Governor Ivey emphasized that these results reinforce Alabama’s position as a premier destination for business growth, innovation and job creation. “Alabama’s economy is on the move, and this report proves it,” said Governor Ivey. “With more than $7 billion in new...

White House downplays recession fears amid stock market concernsA new poll found that 70% of Americans, including a majority of Republicans, think President Trump's trade policies will push prices higher.Scripps NewsThe stock market has experienced turbulence, with the Nasdaq entering a correction in early March.The S&P 500 is predicted to see a weekly gain after four weeks of losses, while the Dow is on track for its largest weekly gain since January.After the November 2024 election, the stock market hit an all time high, with conservative media pundits claiming that...

Tariff uncertainties, decline in commodity & metal prices, and volatility in currencies dragged down merchandise exports in the last few months, explains Ajay Sahai. A turnaround in the exports trajectory would require more supportive policies and efforts to boost global competitiveness of assorted sectors Why are exports declining? Uncertainties due to tariff wars, the decline in commodity and metal prices, and volatility in currencies largely contributed to the decline in recent months. Two key sectors — petroleum and gems & jewellery —contributing to about a quarter of India’s exports, along...

Howard Schneider  |  ReutersInterest rate decision looms as Fed discusses tariffs and trade war impactsWith rising tariffs looming, experts warn of increased consumer prices as the Federal Reserve convenes to address economic implications. (Scripps News)Scripps NewsTumbling stock markets and signs of tightening credit may make the Federal Reserve's job even more difficult this week as U.S. central bank policymakers try to weigh whether consumer spending will suffer as households take stock of the potential blow to their net worth and greater difficulty in obtaining loans.U.S. retail sales for February, reported on Monday in the...

As the saying goes, a rich man is nothing but a poor man with money — and real estate.  More than 13% of the country’s real estate assets are owned by the wealthiest 1% of Americans — a circumstance that significantly enriched the well-heeled over the past two years of sky-high rates and housing shortages. The 1% has been so enriched, a recent Redfin analysis revealed, that their combined wealth could now feasibly purchase almost every home in the nation. The analysis further concluded that the top 0.1% alone could purchase...

On Monday, the dollar teetered near a five-month low against major global currencies, grappling with the impact of President Donald Trump's unpredictable trade policies and feeble economic indicators from the U.S.Meanwhile, Germany's recent fiscal strategies have infused optimism into the euro, pushing it to a value of $1.0905 and nudging it towards a peak seen last week. The Japanese yen also showed marginal gains, reflecting a broader trend where the dollar struggles against its main counterparts.Observers point to a shift in currency market sentiments, driven by revised expectations on...

The real-estate frenzy sparked by the arrival of coronavirus pandemic in 2020 has had lasting effects on Palm Beach real estate. Here are some highlights.Video: Morning traffic enters Palm Beach over Flagler Memorial BridgeVideo: Early morning drivers enter Palm Beach across the Flagler Memorial Bridge February 13, 2025.Five years after the coronavirus pandemic arrived in Palm Beach, its boom-time effects on local real estate continue to resonate.Although the real estate frenzy has cooled a bit over the past two years, home prices in Palm Beach remain higher and the number...