Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Elon Musk’s week just got worse

Published

on

After being suspended from Twitter last year, Jack Sweeney, the creator of the popular ElonJet account that tracks Elon Musk’s private jet in real time, has found a new home on Mark Zuckerberg’s Twitter alternative, Threads.

Sweeney made his debut on Threads with a post that read, “ElonJet has arrived to Threads!” The account, @elonmusksjet, quickly gained traction and had amassed over 21,000 followers by Saturday morning.

ElonJet provides followers with updates on Musk’s private jet movements using publicly available data. However, in December of last year, Twitter, which is owned by Musk, suspended the ElonJet account.

Musk took offense to the account’s operator, accusing them of mistakenly following his son and referring to them as a “crazy stalker.” He even threatened legal action.

Threads, which is owned by Meta, presents a direct challenge to Twitter and attracted millions of users within hours of its launch. Prominent figures such as Kim Kardashian, Jennifer Lopez, and Democratic U.S. Representative Alexandria Ocasio-Cortez have joined the platform.

Threads aims to capitalize on Twitter’s recent tumultuous decision-making and capitalize on the weakened state of its rival.

Sweeney’s move to Threads allows him to continue providing real-time updates on Elon Musk’s private jet, satisfying the curiosity of those interested in tracking the tech billionaire’s movements.

As the platform gains popularity and draws in notable personalities, Sweeney’s account is poised to gather an even larger following, offering fans a unique glimpse into Musk’s jet-setting lifestyle.

Continue Reading

Money

Aussie job market defies expectations with stable 4.1% unemployment rate

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.

Published

on

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.


Australia’s unemployment rate held firm at 4.1% in May, despite a small drop of 2,500 jobs—falling short of forecasts.

But dig deeper: full-time jobs jumped by nearly 39,000, underemployment hit post-COVID lows, and female participation reached a record 60.9%.

With labour market resilience still strong, the Reserve Bank is unlikely to be swayed—though markets see an 80% chance of a July rate cut.

The RBA remains in a balancing act, cooling inflation, without choking growth.

Subscribe for more at https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#RBA #JobsData #AustraliaEconomy #Unemployment #InterestRates #LabourMarket #tickernews

Continue Reading

Money

Central banks struggle with economic uncertainty and rates

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

Published

on

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

In Short:
Central banks are grappling with economic uncertainty, prompting various interest rate cuts globally to stimulate growth. Many central banks, including those in Norway, Sweden, and Japan, are adjusting rates in response to inflation and trade concerns, while others like the Federal Reserve and the Bank of England are considering future cuts.

Central banks are facing significant uncertainty concerning economic growth and inflation, making their policy decisions increasingly challenging as they approach the end of their rate-cutting cycles.

This uncertainty is also impacting investors. Recently, Norway’s central bank surprised markets with an interest rate cut, while the U.S. Federal Reserve cautioned against relying heavily on its policy projections.

The Swiss National Bank responded to decreasing inflation and economic unpredictability by reducing its benchmark rate to 0% but may consider further cuts. The Bank of Canada has maintained its rate at 2.75%, suggesting a potential future cut in light of tariffs affecting the economy.

Sweden’s central bank cut its key rate as well, aiming to stimulate growth amid weak price pressures.

In New Zealand, expectations are for rates to remain steady after a recent reduction to protect its economy from global trade uncertainties. The European Central Bank has also cut rates, considering further adjustments to meet inflation goals.

The Federal Reserve is keeping rates steady, although further cuts are anticipated due to low inflation. In Britain, the Bank of England held rates but may continue cuts in response to weak labour indicators.

The Reserve Bank of Australia is prepared for rate cuts due to weak growth data and trade tensions, while Norway’s central bank has been cautious with its recent decision. The Bank of Japan remains the only bank in a tightening phase, balancing escalating tensions and tariff concerns with its monetary policies.

Continue Reading

Money

Fed signals slower cuts amid rising risks

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.

Published

on

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.


At its latest meeting, the U.S. Federal Reserve revised its economic forecasts downward, with growth trimmed, inflation nudged up, and unemployment expectations now higher.

Despite this gloomier outlook, the Fed still sees two rate cuts in 2025, but just one in 2024 and one in 2026, a major dial-back from earlier projections.

Subscribe for more at https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#FederalReserve #InterestRates #JeromePowell #Inflation #USEconomy #FedMeeting #tickernews

Continue Reading

Trending Now