Tag: economy
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Goldman Sachs cuts its China GDP forecast for 2021, warning the economy’s energy crunch is yet another growth shock
Wang Jilin / Costfoto/Barcroft Media via Getty Images Goldman Sachs lowered its 2021 GDP growth forecast for China to 7.8% from 8.2%, blaming energy constraints. Pressure to meet environmental targets has affected 44% of China's industrial activity, its economists said. Evergrande-related risks to the property sector and regulatory clampdowns are other headwinds to the economy.…
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Bestsellers may be harder to come by as book sellers struggle with supply chain disruptions
Browsing at The Strand. Mary Altaffer/AP Photo Supply chain disruptions are impacting the production of books across the US. A paper shortage combined with an increased demand for lumber is making it difficult to print bestsellers. There has been an 18.7% increase in book sales so far in 2021 compared to 2020. See more stories…
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After this CEO raised his company’s minimum wage to $70,000, he said the number of babies born to staff each year grew 10-fold and revenue soared
Dan Price, CEO of Gravity Payments. Dan Price Gravity Payment's CEO Dan Price introduced a minimum wage of $70,000 in 2015. In the years afterwards, revenue rose, and staff had more babies and bought more homes, he said. Amid the pandemic, revenues dropped 50% but Price said the company was able to recover. See more…
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Two economies. Two sets of rules.
At one point early this year, Elon Musk briefly became the richest person in the world. After a 750% increase in Tesla’s stock market value added over $180 billion to his fortune, he briefly had a net worth of over $200 billion. It’s now back down to “only” $155 billion. Understanding how our economy produced…
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Why Elon Musk is so rich
At one point early this year, Elon Musk briefly passed Jeff Bezos to become the richest person in the world. After a 750% increase in Tesla’s stock market value added almost $180 billion to his fortune, he briefly had a net worth of over $200 billion. It’s now back down to “only” $155 billion. In…
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Large, uniquely Indian cos to emerge: Bikhchandani
had not anticipated that we would see this kind of boom in the stock market, start-ups, valuations, investment in start-ups and so much entrepreneurship! Any prediction I make now for the next 12 years could be 100 times better, says Sanjeev Bikhchandani, Co-founder, Info Edge. Based on the last 12 years, how do you think…
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The 6 richest Americans are worth more than the GDP of 13 US states combined, including Delaware, Maine, and Hawaii
Tesla CEO Elon Musk and Amazon CEO Jeff Bezos. John Locher/AP and Odd Andersen/AFP via Getty Images According to Forbes, six Americans are worth more than $100 billion, making them centibillionaires. Their combined fortune of $815 billion is just over the collective GDP of the US' 13 poorest states. Amazon CEO Jeff Bezos is worth…
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Biden’s infrastructure plan is a ‘green tidal wave’ that will revive the EV sector after its recent pullback, Wedbush says
Drew Angerer/Getty Images Wedbush's Dan Ives states Biden's infrastructure plan will probably be a "green tidal wave" for the EV sector. Ives sees roughly 10 percent approximately $200 billion of the plan moving to EV initiatives. The analyst anticipates an expansion of tax credits "to the 10k range or possibly higher. " Sign up here…
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Elon Musk would have paid $4.6 billion in 2020 under Warren’s wealth tax proposal, data shows
Tesla and SpaceX CEO would be hit heavily by the tax. PETER PARKS/AFP via Getty Images Musk would have paid $4.6 billion in 2020 under Warren’s “ultra-millionaire” plan, tax groups said. The Tesla and SpaceX CEO was worth at least $150 billion at the end of 2020. Musk plans to use his fortunes to fund…