inflation

Rising food costs leave hungry Americans $33 billion behind, report says

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Rising food costs leave hungry Americans $33 billion behind, report says

Hungry people in the U.S. faced a .1 billion shortfall in funds for basic food needs in 2022, with nearly half of them not qualifying for aid. This was the highest shortfall in 20 years due to higher food prices. Hunger rose in 2022 amid high food price inflation and the end of federal financial support and expanded food aid programs during the COVID-19 pandemic. Nearly half of food-insecure people may not qualify for the Supplemental Nutrition Assistance Program. Congress has expanded funding for a key nutrition program serving mothers and young children to address the issue.

Dollar extends losing streak ahead of US CPI

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Dollar extends losing streak ahead of US CPI

The USDJPY pair dropped to 155.50 in early European trading as the US Dollar continues to weaken. Investors are confident that the Federal Reserve will start reducing interest rates from September. The US Consumer Price Index data for April is awaited to provide insight into the interest rate outlook. Economists expect Japan’s Q1 Gross Domestic Product to show a contraction.

LG Chem Avoids First Global Minimum Tax ‘Bombshell’

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LG Chem Avoids First Global Minimum Tax ‘Bombshell’

LG Chem recorded a Pillar Two current corporate income tax expense of 863 million won for the first quarter of this year.

ECB says stress in home loans manageable despite high rates, lax checks

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ECB says stress in home loans manageable despite high rates, lax checks

Stress in the euro zone market for home loans is considered manageable by the European Central Bank, despite higher interest rates and lax checks by some banks. The ECB reviewed the mortgage books of 37 euro zone banks and found deficiencies in how mortgages are originated. Specifically, the ECB found that some banks were not adequately weighing up risks before granting a mortgage, leading to concerns about borrowers being able to meet higher interest rates. Banks were also found to be taking more risks just before or when rates started rising. The ECB has asked banks to address these deficiencies, but overall, the banking sector’s response suggests a commitment to mitigating risks and maintaining stability in the residential real estate landscape.

PM for no tax hike on food to fight inflation; NBR plans more corporate tax cut

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PM for no tax hike on food to fight inflation; NBR plans more corporate tax cut

Fact: Prime Minister Sheikh Hasina directed the National Board of Revenue (NBR) not to increase taxes on food, agro-related items, and fertilizers in the upcoming budget.

Sterling support ahead of jobless data

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Sterling support ahead of jobless data

GBPUSD is hovering around 1.2560 in Asian trading on Tuesday following the improved risk appetite. The UK economy expanded by 0.6% in Q1, surpassing expectations and signaling the end of the country’s brief recession. Fed officials emphasize the importance of maintaining higher rates due to elevated inflation. US consumers foresee a widespread acceleration in inflation over the next year. Investors are closely watching the Producer Price Index (PPI) on Tuesday.

How Did the TCJA Affect Corporate Tax Revenues?

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How Did the TCJA Affect Corporate Tax Revenues?

Fact: The 2017 Tax Cuts and Jobs Act (TCJA) lowered the top corporate tax rate from 35 to 21 percent, leading to a sharp drop in corporate tax revenues initially, but they returned to pre-TCJA levels starting in 2021.

UK employers plan 4 per cent pay rises in coming year

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UK employers plan 4 per cent pay rises in coming year

British employers expect to raise wages by 4 per cent over the coming 12 months, according to a survey by the Chartered Institute of Personnel and Development.

Trump’s $4 trillion of tax cuts loom over the election

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Trump’s $4 trillion of tax cuts loom over the election

The winner of November’s presidential election will face a challenge with the expiration of nearly trillion in tax cuts next year.

Will markets keep up gains this year?

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Will markets keep up gains this year?

The CEO of a financial advisory and fintech firm predicts that the US and European stock market rallies will continue despite the US central bank potentially not cutting rates until 2025. The expectation is based on strong earnings growth, especially in AI-focused companies, and positive economic forecasts from institutions like the IMF and Bloomberg. Additionally, signs of economic rebound in China and Europe are contributing to the optimistic outlook. The anticipation of interest rate cuts in response to a potential economic slowdown is also seen as a factor that could bolster equities. Savvy investors are advised to adopt strategic approaches to capitalize on the upward momentum while managing potential risks. April’s US consumer price index report is awaited, with traders hoping for no return to rate hikes by the Federal Reserve. Both narratives point to a likely continuation of stock market gains, with investors advised to top up their portfolios judiciously with guidance from financial advisors.