Economy

By Jihoon LeeSEOUL (Reuters) - South Korea's factory activity contracted at the sharpest pace in 15 months in September as overseas demand slowed for the first time in the year, a private survey showed on Wednesday, suggesting a slow road to a full-blown economic recovery.The purchasing managers index (PMI) for manufacturers in Asia's…

It thus makes sense that Draghi recommends abandoning such sectors where China’s cost advantage is too big — even if due to subsidies. He does, however, consider the automotive industry, and potentially many other clean-tech sectors, too important to expose to unfettered Chinese competition. So, first, Draghi recommends tariffs to defend…

Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday.The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago, which was the slowest 12-month…

What Is Happening To The American Dream?You are a financially responsible person, and a hard working one, at that. You study and prepare for all of your youth, eventually graduating high school. This is very exciting, as you are the first in your family to get their diploma. After interviewing you land a position as a milk delivery driver,…

Ohio Sen. JD Vance ripped Minnesota Gov. Tim Walz over the Democratic Party's economic record, remarking Walz has a "tough job" simultaneously defending Vice President Kamala Harris' "atrocious economic record" while attacking former President Trump on the economy. "Honestly, Tim, I think he's got a tough job here because you've got to play…

Going out is not only less common these days, it's also a lot more expensive.In general, the prices that consumers pay for goods and services recently notched their largest year-over-year jump since 1982.Gas prices, alone, are up a whopping 58.1% over the past year, and that's just to get to where you are going.A table for two isn't what it used…

A girl hugging a young cattle at a breeding farm in Chongqing, China.Vcg | Visual China Group | Getty ImagesFed up with China's employment situation, young people on the mainland are retreating to the countryside.China's Gen Z and millennials are increasingly documenting their rural day-to-day "retirement" lives on social media after declaring…

TUPELO, Miss. -- A Mississippi-based company that had become one of the largest furniture businesses in the country has laid off nearly its entire workforce. Approximately 2,700 workers, most of whom live in northeast Mississippi, lost their jobs Monday, according to the Northeast Mississippi Daily Journal. Just days before the…

By Nathan Gomes(Reuters) -Top U.S. automakers reported a fall in their third-quarter sales on Tuesday, hurt by fewer selling days and weaker consumer spending amid inflationary challenges and higher interest rates.Carmakers have relied on crossovers and pickup trucks for years to drive the bulk of their sales, but that growth is starting to…

PHILADELPHIA (AP) — From Maine to Texas, dockworkers at 36 ports across the eastern United States are on strike for the first time in decades, a work stoppage that could snarl supply chains and cause shortages and higher prices if it stretches on for more than a few weeks.Workers began walking picket…