Tag: what are the different jobs in finance?

Consumers keep feeling better about today and worse about tomorrow: Morning Brief

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Wednesday, March 1, 2023

Today’s newsletter is by Myles Udland, Head of News at Yahoo Finance. Follow him on Twitter @MylesUdland and on LinkedIn. Read this and more market news on the go with the Yahoo Finance App.

US consumers and the executives that Goldman Sachs (GS) CEO David Solomon talk to have a lot in common — they feel good about today and worse about tomorrow.

New data out from

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World Bank member nations split over plans to expand balance sheet

Developing nations have warned against reshaping the World Bank in the aftermath of David Malpass’s departure as its head in a way that would imperil the institution’s ultra-high credit rating.

The early exit of Trump-appointed Malpass, announced last week, is expected to hasten reforms — pushed by US Treasury secretary Janet Yellen — under his yet-to-be chosen successor that is designed to more effectively help poorer countries mitigate and plan for climate change.

Malpass said he would leave his role at the bank early, by June 30, and the US, the largest shareholder, is racing to draw up a list

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eclgs: Finmin to meet heads of banks on Feb 22; to review the progress of ECLGS for MSMEs

The finance ministry has called a meeting of heads of public sector banks and top four private sector lenders to review the progress of the emergency credit line guarantee scheme (ECLGS) to help businesses affected by COVID-19. The meeting is scheduled to be held on February 22 to review progress on ECLGS and Loan Guarantee Scheme for COVID-Affected Sectors (LGSCAS), sources said.

The meeting, to be chaired by Financial Services Secretary Vivek Joshi, would also see participation from top private sector lenders HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank.

Extension of ECLGS and LGSCAS beyond March 31

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Markets raise bets on BoC rate hike this summer, cuts in 2024

Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa, Ontario, Canada April 13, 2022. REUTERS/Blair Gable

Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa, Ontario, Canada April 13, 2022. REUTERS/Blair Gable

Investors are increasing their batches that the Bank of Canada will hike its key lending rate at least once more this summer and delay any cuts to next year in the wake of stronger-than-expected economic data.

“Overall, I think the consensus is going into 2023 and even in January was that inflation was decelerating and that was going to just continue on a nice path down towards 2% through 2023. And I think markets and investors are now starting

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G20 watchdog says commodity market concentration poses a threat to a wider economy

By Huw Jones

LONDON (Reuters) – The pandemic and war in Ukraine highlighted weaknesses in commodity markets where a ‘significant’ concentration of firms, banks, exchanges and clearing houses threatens to transmit losses to the wider economy, the G20’s financial watchdog said on Monday.

The Financial Stability Board’s (FSB) deep dive into commodity markets came after regulators voiced concern that they were unable to get a full picture of a sprawling sector consisting of on and off exchange derivatives trading, physical stocks, patchy data and producers spread across the world.

European natural gas and metals prices doubled while oil and wheat

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Federal deficit stood at $3.6-billion with four months left in 2022-23 fiscal year

Finance Minister Chrystia Freeland appears as a witness at a Senate committee on national finance, in Ottawa, on Dec. 7, 2022.Sean Kilpatrick/The Canadian Press

The federal deficit stood at $3.6-billion as of November with just four months left in the 2022-23 fiscal year, suggesting federal finances are outperforming official projections.

The Finance Department’s monthly fiscal monitor report said the $3.6-billion deficit for the April to November period compared to a $73.7-billion deficit during the same eight months one year earlier.

The report said the federal government ran a $3.4-billion deficit in the month of November alone, compared with a

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How credit unions offer homebuyers a way around mortgage stress tests

Provincially regulated credit unions aren’t bound by OSFI’s mortgage stress test and homeowners have taken notice

Published January 27, 2023 • 6 minute read

6 Comments

real estate sign is shown in Calgary.
Tougher mortgage qualification rules threaten to push bank loans out of reach for homebuyers. Photo by Jim Wells/Postmedia

There’s a multi-million-dollar corner of Canada’s financial system where a stringent “stress test” imposed by the Office of the Superintendent of Financial Services was never adopted. It’s already attracting homeowners seeking an easier path to qualify for a mortgage amid rising interest rates and it’s

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Japan Finance Minister Warns of Severe Finances as BOJ Struggles to Contain Yields

TOKYO (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt.

Japan’s public debt is more than double its annual economic output, by far the heaviest burden in the industrialized world.

The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan’s (BOJ) 0.5% cap on the 10-year bond yield, as inflation runs at 41-year highs, double the central the bank’s 2% target.

“Japan’s public

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