cut

Fed message that rates will be on hold for 'a while' clashes with bets on 2023 rate cut

Fed message that rates will be on hold for ‘a while’ clashes with bets on 2023 rate cut

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(Bloomberg) – Federal Reserve Chairman Jerome Powell has history on his side as he and his colleagues part ways with Wall Street on how long interest rates will stay high in 2023. Bloomberg’s Most Read After the fastest monetary policy tightening since the 1980s, the central bank is expected to raise its benchmark rate by …

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Wealthy Chinese keep spending while others cut spending, survey finds

Wealthy Chinese keep spending while others cut spending, survey finds

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Pictured is a science fiction-themed installation at Maison Hermes in Shanghai, China, November 28, 2022. Edition of the future | Edition of the future | Getty Images BEIJING — Wealthier Chinese were more likely to spend this year, while poorer people cut spending even more, McKinsey and Company found in a survey released Thursday. The …

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As oil prices fall, OPEC Plus chooses not to cut production further

As oil prices fall, OPEC Plus chooses not to cut production further

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Comment this story Comment As gas prices continue to fall, the coalition of oil-producing nations led by Saudi Arabia and Russia decided on Sunday not to try to stop the slide by cutting global oil supplies. The decision to keep production stable came on Sunday during a virtual meeting of the Organization of the Petroleum …

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SF's downtown condo market is cratering, with units selling at cut prices

SF’s downtown condo market is cratering, with units selling at cut prices

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San Francisco’s sluggish, post-COVID recovery is hammering the downtown condo market, with owners increasingly willing to sell at a discount amid ongoing tech layoffs and office closures, according to a new report of the Compass real estate brokerage firm. According to the report, median condo sales prices in the Greater Downtown and South of Market …

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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%

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(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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What to know about the West's new efforts to cut Russia's oil revenues

What to know about the West’s new efforts to cut Russia’s oil revenues

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A tanker is moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia, October 11, one of the largest petroleum and petroleum products facilities in southern Russia . The deadline is approaching for Western allies to agree on a price cap for Russian oil. PA hide caption toggle …

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Tanker

Middle East oil producers under pressure to cut prices again | OilPrice.com

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The Middle East has steadily reaped the benefits of its oil wealth throughout 2022, arguably one of the most successful years for the region as a whole in recent history. Yet the outlook for next year is not so rosy. The global economy is in disarray, with the double whammy of a strong US dollar …

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Canadian banks count on loan growth as stormy markets cut profits

Canadian banks count on loan growth as stormy markets cut profits

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By Niket Nishant and Divya Rajagopal (Reuters) – Canada’s major banks are expected to post lower profits in the fourth quarter as choppy markets hurt wealth management and sluggish trading slashes income at investment banks, reversing expected gains from lending to banks. businesses. Earnings reports, as of Tuesday, cap off a tumultuous year in which …

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House Republicans don't really have a plan to cut inflation, but economists say it could be a good thing - The Boston Globe

House Republicans don’t really have a plan to cut inflation, but economists say it could be a good thing – The Boston Globe

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But these are all longer-term initiatives. They don’t really have a short-term plan, and even if they did, they’re unlikely to get any significant legislation through the Democratic-controlled Senate and the former president’s veto pen. Biden. “To be honest, taming President Biden’s continuing raging inflation will be difficult,” Texas Rep. Kevin Brady, a key player …

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