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Wall Street's biggest banks cut bonuses by up to 30%

Wall Street’s biggest banks cut bonuses by up to 30%

(Bloomberg) – Across Wall Street, this year’s gloomy expectations for banker bonuses are quickly proving true, as a slump in deals ends the industry’s war for talent and corporations regain the upper hand in fixing wages. Bloomberg’s Most Read JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. are all considering cutting bonus …

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US Labor chief says bad immigration policy is 'biggest threat' to economy

US Labor chief says bad immigration policy is ‘biggest threat’ to economy

Labor Secretary Marty Walsh reacts to the November jobs report and discusses other factors influencing the 2023 economic outlook. On the heels of November’s jobs report, Labor Secretary Marty Walsh warned of the “greatest threat to America’s economy.” “I think the biggest threat to our economy is that we don’t have a good, strong immigration …

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Home prices are expected to continue to rise next year: Here's where

Home sales could plunge in 2023. These cities could experience the biggest declines.

Home sellers should brace for a tough year ahead, with a real estate group predicting that property sales could fall in 2023 as more buyers are sidelined by rising mortgage rates and house prices out of reach. The number of homes sold will likely plunge 14.1% to 4.53 million homes, the lowest number of real …

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Ships linked to Russia's biggest grain exporter carried stolen Ukrainian cargo

Ships linked to Russia’s biggest grain exporter carried stolen Ukrainian cargo

Rebekah Koffler, who fled the Soviet Union 30 years ago, reflects on the Russian-Ukrainian conflict in “Varney & Co.” Vessels linked to Russia’s biggest grain trader shipped thousands of tonnes of stolen Ukrainian grain to global buyers, using a sophisticated system of collector vessels and floating cranes, according to a Wall Street Journal investigation. The …

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Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman.  How Congress can help

Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman. How Congress can help

Suze Orman speaks during AOL’s BUILD Speaker Series at AOL Studios in New York City. jenny anderson | WireImage | Getty Images If your car breaks down or you have an unexpected medical bill, it can be difficult to find the money to cover expenses. In a pinch, it can be tempting to withdraw money …

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India overtakes North America to become biggest smartwatch market

India overtakes North America to become biggest smartwatch market

India overtook North America to take the global top spot in the smartwatch market in the quarter ending in September, according to a report by market researcher Counterpoint. Festival sales and the proliferation of affordable smartwatches helped grow the local market by 171% year-over-year. Affordable smartwatch models with larger screens and adding features like Bluetooth …

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Europe's biggest bond buyer starts thinking about selling

Europe’s biggest bond buyer starts thinking about selling

Christine Lagarde, President of the European Central Bank speaks at an event. The central bank is due to meet in mid-December for further monetary policy decisions. Bloomberg | Bloomberg | Getty Images The European Central Bank may be on the verge of answering a lingering question in the coming weeks that could have major repercussions …

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The Fed's housing market 'reset' officially triggered the second biggest post-war house price correction

The Fed’s housing market ‘reset’ officially triggered the second biggest post-war house price correction

In June, Fed Chairman Jerome Powell told reporters that the overheated US housing market – which has seen US home prices rise more than 40% in just over two years – had need a “reset”. And higher mortgage rates, he said, would slowly bring “equilibrium” back to the market. “We saw [home] prices have risen …

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Ukraine is Biden's defining problem and biggest economic challenge

Ukraine is Biden’s defining problem and biggest economic challenge

Russia’s war in Ukraine has become the biggest economic challenge of President Biden’s term, threatening to plunge the world into a recession that could endanger an already fragile US recovery. The combination of punitive sanctions, championed by Mr. Biden and his allies, and retaliation from Russia have ricocheted off global food and energy markets, exacerbating …

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How China, the world's biggest polluter, avoids paying for climate damage

How China, the world’s biggest polluter, avoids paying for climate damage

Comment this story Comment In 1992, the United Nations classified China as a developing country because hundreds of millions of its citizens lived in poverty. Much has changed since then: China is now the world’s second largest economy and the largest annual emitter of greenhouse gases that warm the planet. The average Chinese today are …

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