Economy

As President-elect Donald Trump prepares to take office in January, he is expected to reinstate key elements of his previous economic platform, including tariffs, tax cuts and sanctions. Steven Mnuchin, who served as Treasury Secretary during Trump's first term, discussed these priorities in a recent interview with CNBC. Key components of Trump's economic strategy Tax cutsMnuchin stressed that tax cuts will remain a “distinctive part” of Trump's agenda. He expressed confidence that passing tax reforms in Congress should be easy, especially if Republicans maintain control of the House. RatesThe former Treasury secretary reiterated Trump's commitment to using tariffs as a…

Panama stands out for its tropical climate, stable economy, and multiple investment opportunities, making it an attractive destination for those seeking a new life or a second home. This has led to an increase in the demand for residence permits by foreigners.However, it is essential to comply with certain legal requirements to obtain a residence permit. It is recommended to have the advice of legal professionals, such as the team at Legal Solutions Panama, who can guide you through the process of successfully acquiring your residence permit if you’re from United States.What essential information is required for acquiring your permanent…

Panama is distinguished by its tropical climate, robust economy, and a plethora of investment prospects, rendering it an enticing option for individuals considering relocation or acquiring a secondary residence. This has resulted in a surge of interest in residence permits by international applicants. Nonetheless, fulfilling specific legal criteria is crucial to secure a residence visa. Engaging with legal experts, such as the specialists at Legal Solutions Panama, is advised to facilitate the successful acquisition of your residence permit, especially if you hail from United Kingdom.Essential Information for Securing Your Permanent Residence Permit in PanamaIt is important to remember that the…

Panama is distinguished by its balmy climate, robust economy, and myriad investment prospects, making it an appealing choice for individuals looking for a fresh start or a secondary residence. This charm has spurred a growing interest in residence permits among international seekers. Nevertheless, fulfilling specific legal obligations is crucial to secure a residence visa. Engaging the expertise of legal professionals, like the dedicated team at Legal Solutions Panama, is advised to expertly navigate the process of acquiring your residence permit, especially if you hail from Canada.What essential information is required for acquiring your permanent residence permit in Panama?The initial aspect…

Rivian's latest quarterly results reveal performance that fell short of market expectations, as the company reported an adjusted loss per share of 99 cents, compared to the expected loss of 92 cents. Revenue for the quarter came in at $874 million, lower than the expected $990 million. In light of these results, Rivian adjusted its earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast, now forecasting a loss of between $2.83 billion and $2.88 billion. This marks a revision from a previous estimate that called for a loss of about $2.7 billion. Despite these challenges, the company remains optimistic about…

In October, the unemployment rate for white Americans saw a slight increase, rising to 3.8% from 3.6% the previous month, according to the latest data from the Department of Labor. This increase contrasts with the overall national unemployment rate, which remained stable at 4.1%, unchanged from September, and reflects a varied picture across different demographic groups. For Black and Hispanic workers, unemployment rates remained stable at 5.7% and 5.1%, respectively. Meanwhile, Asian Americans saw a decrease in their unemployment rate, falling from 4.1% to 3.9%. Both white men and women reported rising unemployment rates in October. For men the rate…

An aerial perspective of existing homes alongside new construction in the Chatsworth neighborhood of Los Angeles on September 8, 2023, highlights a significant moment in the real estate market. Recent data indicates that U.S. homeowners have a significant amount of home equity, but soaring interest rates over the past two years have made many reluctant to tap into that value. This trend, however, appears to be changing. In the third quarter of this year, homeowners accessed $48 billion in home equity, marking the highest volume of withdrawals in two years, following the Federal Reserve's interest rate hikes. While mortgage rates…

Federal Reserve Chair Jerome Powell will address the nation following the conclusion of the Federal Open Market Committee (FOMC) meeting, where another interest rate cut is expected. Scheduled for Thursday, this meeting comes at a time when the economic landscape has become increasingly complex. Financial markets are all but certain that the central bank will reduce its benchmark borrowing rate by 0.25%, aiming to recalibrate its policies in light of moderate inflation and a weakening labor market. However, the real focus will be on the Fed's prospects as it adapts to the evolving economy and the political ramifications of Donald…