Goodyear Tire & Rubber want to reduce cost and boost income by cuts job position
Goodyear Tire & Rubber plans to reduce 700 positions and sell 100 retail outlets and fleet locations in its Asia Pacific rationalization plan, aiming to boost operating income by $50 million to $55 million in 2025 and increase profitability in Australia and New Zealand.
Low mortgage rates help new buyer to purchases home
Real estate company Roam is offering assumable mortgages, allowing buyers to purchase a home with a mortgage rate as low as 2%, reducing monthly payments by more than half compared to today’s rates. This solution helps sellers find more buyers for their homes, as they are the only one in the neighborhood with a mortgage…
Citigroup potentially cuts hundreds of employees
Citigroup has warned UK staff of potential redundancies as it reorganizes, potentially affecting hundreds of jobs. The bank, which has 16,000 UK employees, is entering phase two of its rationalization plans and will hold a consultation process for employees. The bank did not inform British and Northern Irish workers of job cuts. Citigroup’s CEO, Jane…
The Fed decision has high impact on stocks markets
Stocks fell on Thursday, with the S&P 500 experiencing its worst day since March. Bonds’ belly of the US Treasury yield curve rose to 15-year highs after the Federal Reserve decision, indicating market risk aversion. Fed Chair Jay Powell maintained the “higher for longer” approach and maintained the main policy rate, tempered optimism that the…
European Central Bank interest rates will be trimmed
Greek central bank president Yannis Stournaras predicts that European Central Bank (ECB) interest rates have reached their peak and will be trimmed, despite conservatives considering another rate hike. Stournaras believes excessive policy tightening poses financial stability risks and expects a rate cut by July or June. He also predicts a prolonged period of constant rates…
Long-term investor should wary for markets changing
Investors are concerned about the impact of the Fed’s 525 basis points in rate hikes since March 2022 on the economy and the survival of U.S. GDP if rates remain at current levels for most of 2024. Near-term uncertainties, such as energy prices, an auto workers strike, a government shutdown, and the end of the…
Market stocks and bond wary of shifting interest rates
The Federal Reserve’s hawkish stance on interest rates may continue to pressure equities and bonds in the coming months. Market expectations were met when the Fed held interest rates unchanged, but a rate increase by the end of the year and tighter monetary policy expectations through 2024 may strengthen policymakers’ hawkish posture. Higher rates may…
The Fed announced interest rates stay at this moment
The Federal Reserve (Fed) has announced that interest rates will remain higher for at least three more years, even after the Fed stops raising rates and starts lowering them. The Fed held rates at 5.25%-5.5%, a 22-year high, and provided new economic forecasts for interest rates, unemployment, GDP, and inflation. Most Fed officials expect one…