Strained Markets Face Added Tension as Israel-Hamas War Heats UpEgypt Says Halt in Gas Imports Linked to Prolonged Power CutsIsrael Latest: Long War in Gaza Begins With Army Entering NorthOil and Gas Markets Eye Risk of Escalation as Gaza War DeepensSwiss National Banker Says Talk Couldn’t Save Credit SuisseFed to Weigh How Much Fuel Consumers Have Left After Rate HikesBNP Head Says ECB Shouldn’t Delay Starting to Cut Interest RatesCrypto Memes Kick Back Into High Gear After Bitcoin ETF...
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Strained Markets Face Added Tension as Israel-Hamas War Heats UpThe expansion of Israel’s ground operations in Gaza added more pressure to global markets as investors prepare for a busy week packed with major central bank decisions and a high-stakes announcement of US bond sales.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Israel's Economy Expected to Shrink 11% as Conflict with Hamas EscalatesJPMorgan Chase & Co. predicts that Israel's economy will contract by 11% in the last quarter of the year due to the ongoing war with Hamas. The bank's initial projections were too optimistic, and the estimates are among the most pessimistic from Wall Street analysts. Israeli assets have already been heavily sold, with the main stock index down 11% and the shekel at its weakest since 2012. Despite this, JPMorgan still expects GDP growth of 2.5% this year and 2% in 2024.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Israel's Economy Set to Shrink 11% as Hamas War Escalates: JPMorganIsrael's economy is expected to shrink by 11% due to the escalating conflict with Hamas, according to JPMorgan. The ongoing war between Israel and Hamas is unlike anything that has happened before. The death toll in Acapulco rises as Mexico deals with the aftermath of Hurricane Otis. Vice President Pence unexpectedly ends his 2024 campaign against Trump. Dutch Premier Rutte expresses openness to becoming the next NATO Chief. South Africa considers a visa waiver for Chinese and Indian nationals. Allies are concerned that the US is overextended as global conflicts spread. The G-7 trade chiefs condemn the weaponization of economic dependencies. X introduces subscription tiers costing up to $16 a month. GM CEO Barra faces setbacks as Cruise suspends operations. A former JPMorgan banker proposes an alternative plan for Telecom Italia. Lisbon sees an influx of digital nomads while Portugal's youth leave in large numbers. A crypto unicorn expects India to lower taxes on trading. Israeli troops enter Gaza for a limited raid. Boeing assesses a data dump threat from a cyber gang. Mohamed A. El-Erian criticizes the U.S. Fed for failing in four ways. The remote working boom benefits college towns like Knoxville. The U.S. economy shows dismal performance.
Source: BNNBloomberg - 🏆 83. / 50 Read more »