By Tyler Cowen, Bloomberg Opinion (TNS) [Editor’s note: This opinion piece was published before President Joe Biden announced he would be dropping out of the 2024 presidential race.] Donald Trump’s 2017 Tax Cuts and Jobs Act was the biggest corporate tax cut in U.S. history. How did it affect the economy? The question has taken … Read more
By Naeem Aslam European and US futures are trading with extreme caution on Wednesday as traders are reluctant to make any big moves ahead of two important events. Observing the day’s price action reveals a tense atmosphere, because the US CPI report and the Fed’s monetary policy decision, followed by their press conference, are … Read more
Gov. Kathy Hochul is pushing a New York City tax hike to replace the $15 congestion pricing tolls she indefinitely postponed — a last-minute funding Hail Mary that drew fierce opposition Thursday. Lawmakers and business groups slammed the prospect of a tax increase, especially after Hochul scuttled congestion pricing Wednesday because it would “break the … Read more
By Naeem Aslam Friday is all about one thing, the mother of all economic data which is most important to traders of gold and Bitcoin. The U.S. will disclose the most crucial economic reading, the non-farm payrolls unemployment figure. The Federal Reserve and other market participants place a high value on this information, considering that … Read more
The political landscape in Cyprus remains uncertain a week before the double election showdown. The top spot in the European elections is a close contest between DISY and AKEL, with DIKO and ELAM battling for third place. The percentages that DIKO and ELAM achieve are crucial, as their race could result in higher-than-expected percentages for both parties. The smaller parties are also uncertain about the support they will receive. A key factor in the upcoming elections is the turnout of Turkish Cypriot voters, with an estimated increase in participation expected. This increase could potentially influence the final results, especially in the battle between AKEL and DISY for the top spot. DISY’s level of voter consolidation will also play a critical role in the election outcome, as it could impact the percentages of other parties. Discontent and disagreements within DISY may lead to alternative votes going to parties like ELAM or independent candidate Phidias Panayiotou.
There is a strong tendency among the electorate to vote punitively, with a segment of society refusing to vote for parties they see as part of the establishment. This anger is fueled by economic hardship, the state’s inability to provide basic services, and the rise of far-right parties like ELAM. The political system is perceived as weak and unable to address societal problems, with politicians focusing more on their image and social media presence. Society’s choices reflect a desire for revenge on the establishment, but this also leads to disengagement from politics. The responsibility for these choices lies with society, which must find answers to its own problems before the next elections.
Fans at the French Open will no longer be allowed to drink alcohol in the stands due to unruly behavior, including disrespect towards players and screaming during rallies.
The political scene in Cyprus is currently lacking substance and meaningful discourse as the election approaches on June 9. Major parties are focusing on internal rivalries and ideological confrontations, neglecting important issues for discussion. The failure to address societal problems and engage in coherent political discourse is leading to voter alienation and a rise in support for options offering hollow populism and better marketing through social media.
Investors are pouring billions of dollars into AI companies, with the market capitalization of major tech giants increasing significantly since the release of ChatGPT in November 2022. However, the income generated by AI remains relatively small compared to the investments being made. The promise of future riches has led to forecasts of up to trillion needed for advanced semiconductors, data centers, and power to train and run AI models. Similar investment booms have occurred in the past with industries like railways and telecom, but they often resulted in financial disappointment for investors. The AI boom also comes with risks such as the short lifespan of AI models, potential commoditization of advances, and government regulations that could limit profits.
The text discusses the importance of building a solid financial foundation, investing wisely for future wealth, navigating debt management strategies, and optimizing financial potential.