The new G-7 infrastructure plan offers an alternative to China’s Belt and Road

The Group of Seven announced a new infrastructure financing program that could rival China’s Belt and Road Initiative. One expert says the G7 plan offers hope for developing countries, but it remains to be seen whether it can match the Belt and Road Initiative. on Sunday, United States and The other members of the G-7 … Read more

In Indonesia, ‘pay later’ services leave some drowning in debt | debt news

Ubud, Indonesia – Nadia Pottery’s mounting debts began with the purchase of one cell phone. Putri, who lives in Kuala Kapuas, Central Kalimantan, about 1,600 kilometers from Jakarta, had been dreaming of upgrading to a newer model for months but didn’t have enough money. Then, earlier this year, the 21-year-old college student noticed that there … Read more

Has corporate greed increased inflation? He’s not the biggest culprit | Health, medicine and fitness

By Paul Wiseman – AP Economics Writer Washington (AFP) – Outraged by price hikes at the gas station and supermarket, many consumers feel they know just where to blame: on greedy companies that are relentlessly raising prices and making profits. In response to that sentiment, last month the Democratic-led House passed a partisan line vote … Read more

Mortgage rates are rising again, driving more buyers out of the housing market

The 30-year fixed-rate mortgage averaged 5.81% in the week ending June 23, up from 5.78% in the previous week, according to Freddie Mac. This time last year, rates averaged 3.02%, and the last time rates were this high was in the winter of 2008. “Fixed mortgage rates have increased by more than two full percentage … Read more

The Russian ruble reached its strongest level in 7 years despite the sanctions

A 1 Russian ruble coin and a Russian flag are displayed on the screen in this multiple exposure illustration taken in Krakow, Poland on March 8, 2022. Jacob Borzeki | Norfoto | Getty Images The Russian ruble hit 52.3 against the dollar on Wednesday, up nearly 1.3% from the previous day and the strongest level … Read more

Fed Chair Powell faces mounting criticism over inflation slips

Washington (AFP) – Federal Reserve Chairman Jerome Powell has won praise for his shrewd leadership during the downward spiral of a pandemic recession. With threats to the US economy mounting, though, Powell increasingly shocked Fed watchers as being far less confident. Inflation proved to be higher and more stable What he or the Fed’s economists … Read more

Biden, Chevron’s chief of commerce sharp words on gas prices

Washington (AFP) – In a back-and-forth signal, Chevron’s chief complained on Tuesday that President Joe Biden had denigrated energy companies at a time when gasoline prices were near record levels and the president responded that the oil company’s CEO was a “moderate” sensitive. “ The president in recent weeks has criticized oil producers and refiners … Read more

Former US ambassador says raising tariffs on China can lower inflation

Former US ambassador David Adelman said removing tariffs on imported Chinese goods would strip 1% of US inflation over time and restore confidence in the economy, which could help President Joe Biden at the ballot box. “Inflation will be the number one issue in the November US midterm elections,” Adelman told CNBC’s “Squawk Box” on … Read more

Black personal finance influencers focus on financial freedom

Troy Millings, left, and Rashad Bilal from Take Your Free Time Source: Spend your free time Social influencers focusing on financial education for the black community focus on the message of financial freedom on Juneteenth as the nation celebrates the end of slavery in the United States. “I definitely feel that commemorating Juneteenth should be … Read more

Here’s what a Fed rate hike means for your salary

Every time inflation rises, it takes a cut of workers’ salaries and chews up their bank accounts. And this current stretch of inflation—caused by a combination of events, including the war in Ukraine and the ongoing pandemic—has a voracious appetite. this means Rising wages Already turned into losses, according to the latest inflation report Consumer … Read more