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Many Americans have not fully recovered financially from the Great Recession, more than a decade later. Nearly 48% of Americans who were adults when the downturn first began in December 2007 say they have seen no improvement in their financial situation since then, according to a newly released Bankrate survey based on responses from more than 2,700 consumers. One in four respondents—or 25%—say their overall financial situation is about the same as it was prior to the economic crisis; 23% say their situation is worse. The survey findings conflict with reports of a growing job market and economic expansion. The unemployment rate has fallen to a near half-century low and there’s been 104 consecutive months of job creation. However, not all Americans are enjoying the uptick from the economy, and the recovery may be uneven. Many homeowners faced setbacks in their home value during the Great Recession that hurt them financially, according to the survey. “The echoes of the ...

Investment money, unhappy with low interest rates and low growth in South Korea, is pouring into emerging Asian markets. Asean and India, with Vietnam at the centre, are the main destinations. These markets have greater volatility, higher investment risk, but at the same time the return on investment is relatively high. On June 17, association of South Korea’s financial investment, according to south Korean domestic investors to invest in the amount of investment funds overseas there’re a total of 3.16 trillion won (will be subject to the end of may) inflows into Vietnam, is ten times more than the end of 2015 (310 billion), compared with the end of last year (2.84 trillion), in five months increased 320 billion won (11%). More than 1 trillion won has been invested in the Indian market. By the end of may, won1.22tn had flowed into the Indian market, up won310bn (34 per cent) from won910bn at the end of 2015. Excluding Vietnam and India, plus investments in Singapore (wo...

US President Donald trump and first lady melania trump arrived in Japan on May 25 for a four-day state visit. In Japan, trump urged business leaders to invest more in the United States, saying there has never been a better time to do so. Trump’s visit to Japan is the first by a foreign head of state since Japan entered the new era, fox news and Reuters reported. Trump said he wants to address the U.S. -japan trade imbalance and ensure fairness and reciprocity. His first stop on the trip was a dinner with business leaders at the us ambassador’s residence in Tokyo. “Japan has had a big advantage for many, many years, but that’s ok, maybe that’s why you like us so much,” trump said in a speech to business leaders in Tokyo. “Negotiators are working hard on the trade talks,” he added. “We’ll get a fairer deal.” Top Japanese executives from Toyota, nissan, Honda, softbank and lotte met with trump at the U.S. ambassador’s residence in Tokyo, according to the White House. Trump...

According to the analysis, England’s GDP growth dropped sharply in April, mainly due to a decline in car production, which was caused by the closure of car factories due to the uncertainty of brexit. On June 10th the England office for national statistics revealed that GDP contracted by more than expected in April, the biggest drop since March 2016. England’s GDP fell 0.4 percent in April from a month earlier, compared with expectations for a 0.1 percent decline, the data showed. The England office for national statistics explained this was mainly due to a “significant reduction” in car production due to the uncertainty surrounding brexit. England-based auto production fell 24 percent in April, the biggest drop since records began in January 1995. On a monthly basis, industrial output in England fell 2.7% in April, the biggest monthly decline since September 2012. Manufacturing output in England fell 3.9 percent in April, the biggest monthly decline since June 2002. Eng...

The Commerce Department said May 23 it is proposing to impose anti-subsidy duties on products from countries that hold down their currencies against the dollar. The move is likely to result in higher taxes on Chinese exports to the us and further intensifies us attacks on global trade rules. Others who could face the same fate include Japan, South Korea, India, Germany and Switzerland. The Federal Register said in a May 23 notice that the new rules would allow U.S. companies to seek countervailing duties against products from countries accused of engaging in competitive currency devaluations. No country has yet met its criteria, but the department will set a broader standard by focusing on “undervalued” currencies. The finance ministry decides whether any other country’s currency is undervalued, while the commerce ministry is responsible for the actual taxation. The ministry specifically noted that the measures are not aimed at normal currency and related credit policies ...

Governor cuomo’s budget amendment would have a revenue shortfall of $2.6 billion. To fill the gap, Mr Cuomo has made adjustments to a number of budget allocations. Mr Cuomo recently announced that income tax revenues for the new fiscal year were $2.3 billion lower than expected because of the poor performance of the stock market and the migration of the wealthy, blaming the new tax law for the problem. State and local taxes (SALT), in particular, are capped at $10,000, which has a big impact in states like New York that have high taxes. The Wall Street journal reported that the governor’s revised budget, which includes $750 million previously earmarked for capital spending, $490 million to cut aid to local governments and $177 million to cut state government operating costs, was designed to close the gap. For the fiscal year that begins in April, the shortfall increased to $5.9 billion from an estimate of $4.6 billion in January. To close the gap, Mr. Cuomo made deeper ...

Australian Banks issue “fake silver paper”? Australia’s central bank confirmed on Thursday that a new a $50 note issued in October had three places where the word “responsibility” was replaced by “responsibilty”, missing an “I”. A total of 46 million new notes were printed, many of them out of the market, and it remains unclear how to remedy them. The new note introduces new security features to epitomise Australia’s first female mp Edith. Edith Cowan’s maiden speech to congress in 1921, but it appears to lack a spelling check. This error is very small, you need to magnify with a magnifying glass to see clearly, the naked eye can hardly see. Seven months after the note was issued, the central bank was embarrassed when a listener who had discovered the mistake sent a magnified picture of the typo to a radio station on Thursday morning, only to discover it in a media report. But the central bank has no intention of withdrawing money from circulation. “The reserve bank of Aust...