Elizabeth Street Garden, a cherished public oasis in lower Manhattan, faces imminent eviction to make way for a new housing development project. The garden, founded in 1991 by an antiques gallery owner, has become a symbol of community and respite in the crowded Little Italy neighborhood, immortalized in films like “Mean Streets” starring Robert De
Real Estate
China’s policymakers, according to Yi Gang, the former head of the People’s Bank of China, must prioritize boosting domestic demand to combat deflationary pressure. The key focus should be on improving domestic demand, addressing issues in the real estate market, local government debt problems, and restoring society’s confidence. Proactive fiscal policies and accommodative monetary policies
China’s economic landscape is a complex web of interconnected factors, with the latest data from the Milken Institute’s best performing cities China index revealing a mix of winners and losers among the country’s urban centers. Hangzhou, home to tech giants like Alibaba, has emerged as a top performer in the rankings, showcasing the benefits of
The housing market in New Zealand has been experiencing fluctuating trends, with predictions of a 6% rise in house prices next year. This forecast comes after a recent decline in prices, which saw home values drop nationally from NZ$800,000 to NZ$753,000 earlier this year. Despite this decline, prices are still relatively high, sitting just 19%
Recent data from an official factory survey in China has revealed that manufacturing has slowed to a six-month low in August. The official Purchasing Managers’ Index (PMI) declined to 49.1, below the 50-mark that separates growth from contraction. This marks the fourth consecutive month of decline, highlighting a concerning trend for the world’s second-largest economy.
The S&P 500 showed signs of recovery after a weak Thursday close, with indications suggesting that interest rate sensitive plays would perform better than large caps on Friday. This shift was seen as a result of rates not posing a threat and growing confidence in a soft landing. The implications of this were evident in
In anticipation of the Federal Reserve’s upcoming interest rate decision in September, more investors are turning their attention towards dividend stocks. According to Paul Baiocchi, the chief ETF strategist at SS&C ALPS Advisors, this shift is a smart move considering the expected easing of rates by the Fed. Baiocchi pointed out that investors are transitioning
The landscape of work in the United States has undergone a significant transformation in recent years, with the rise of remote work taking center stage. Initially propelled to the forefront during the Covid-19 pandemic, remote work has since established itself as a prevalent feature of the labor market, according to leading economists such as Nick
The Australian Dollar has shown signs of advancing its gains as the Reserve Bank of Australia (RBA) Minutes indicated that current cash rates are likely to remain for a longer period. This suggests that a rate cut in the near future is unlikely. RBA’s August Meeting Minutes have played a significant role in boosting the
In recent interviews with state media, People’s Bank of China Governor Pan Gongsheng expressed that China’s financial risks have seen a decline, particularly in relation to local government debt. He mentioned that the central bank is collaborating with the Ministry of Finance to ensure that China meets its growth targets for the year. Pan emphasized
In July, the Greater Toronto area experienced a decrease in home sales on a month-to-month basis according to data released by the Toronto Regional Real Estate Board (TRREB). This decline of 1.7% in seasonally adjusted sales came after a surprise increase of 3.2% in June, marking the end of a four-month streak of decreasing home
China’s manufacturing activity showed a decline for the third consecutive month in July, according to an official factory survey. The official purchasing managers’ index (PMI) dropped to 49.4 in July from 49.5 in June, falling below the 50-mark that separates growth from contraction. This decline has raised concerns about the need for Beijing to introduce