The Eastern Caribbean Central Bank is celebrating 40 years since its founding. What do you view as the main benefits of the Eastern Caribbean Currency Union? The main benefit, without a doubt, is relatively low inflation over an extended period. Since 1976, we have pegged US$1 to EC$2.7. Our inflation is largely imported and typically … Read more
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High borrowing costs ate starting to bite in corporate America. Photo / Alexander Spatari, Getty Images The US economy may be growing much faster than pessimists had predicted, but business is still brisk for bankruptcy lawyers. “Things have really accelerated,” says Thomas Lauria, global head of restructuring at White & Case. His team is on … Read more
WASHINGTON (7News) — It’s only October, but the holiday shopping season has already begun. A new Bankrate study shows half of all buyers have already started their holiday shopping. Stores have been filled with Christmas items since early September as Black Friday type deals from a number of large retailers, like Target, Walmart, Amazon and … Read more
Chinese stocks pared gains as traders question whether Beijing’s latest stimulus measures will have the firepower to rescue the ailing economy. The CSI 300 Index gained 0.5% as of 1:39 p.m. local time, more than halving its earlier advance. The Hang Seng China Enterprises Index was up 1.1% after gaining more than 3%. The gauge … Read more
I’m Chris Anstey, a senior editor in Boston, and today we’re looking at why the US budget deficit doubled despite a strong economy. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can … Read more
This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, economics enterprise reporter Rich Miller assesses the impact of higher bond yields. Sign up here and follow us at @bpolitics. Email our editors here. What happens on Wall Street doesn’t stay on Wall Street. And that’s why the recent … Read more
Peter Dazeley/Getty Images) Getty Images At the start of October, share prices for Metro Bank plummeted after reports that the lender was preparing to raise up to £600 million in capital to help boost its balance and continue achieving its business goals. To do this, Metro Bank considered various debt and equity solutions including selling … Read more
Welcome to The Brink. This is Kevin Simauchi in New York and Scott Squires in Buenos Aires, where we have been looking at Argentina’s bond markets ahead of the first round of presidential elections. We also have news on US pharmacy chain Rite Aid, Chinese developer Country Garden and Venezuelan oil company PDVSA. Follow this … Read more