Bank of Korea Cuts Rates, Slashes 2025 Growth Outlook
South Korea's central bank cut its policy rate in a widely expected move to support the country's sagging economy.
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Bloomberg
10 minutes ago
- Bloomberg
US Goods Imports Fall 19.8%, Consumer Spending Slows
00:00 A personal income up 8/10 of a percent. Personal spending. 2/10 of a percent. Spending went up by 7/10 in the month of March. So a drop off there. We're waiting on the price numbers to come through here. And we have a PC price index headline of just a 10th of a percent, which pushes the year over year number down to 2.1%. We are just a 10th of a percent away from the Fed's target. The core is up a 10th of a percent on a year over year basis. That falls to two and a half from 2.6%. The other number that we're watching today is the advanced goods trade balance comes in significantly. We're going to have to get a breakdown on that in a couple of days when we get the full numbers for this. But 87.6 million. That's down from 162.3 billion in the month of March. And of course, that was what everybody was trying to pull forward. All of all of the imports they could get before we got to the tariffs. So a major change here in the trade situation that should add to growth for the month of April. And PCE comes in, as expected, lower than anticipated. Incomes were good. I'll look for the breakdown on that. And personal spending falls off again after people maybe front run the tariffs a little bit. What are you finding in terms of that personal income path and what we're seeing about where people are spending? Well, what we're seeing where people are spending is an interesting change from last month. Last month's 56% increase in the number of automobiles bought. But in April, housing and utilities were the biggest expenses, up 24.7%. Health care follows that. And food services in accommodations, automobiles, transportation falls to -4.5%. So people's increased spending by 56% in March, and it dropped off to four and a half percent in the month of negative four and a half percent in the month of April. The other thing I can tell you that the goods imports fell by 20% basically during the month of April, and that is the biggest drop on record. So what we did see was a lot of front running as people anticipated the tariffs coming in terms of the way the personal income, wages and salaries up 5/10 of a percent. That's the same as we've seen for the last three months. Disposable personal income, 8/10 percent higher, and the savings rate jumps to 4.9%. So it looks like Americans are preparing for a maybe bad period during the economy.
Boston Globe
10 minutes ago
- Boston Globe
Homes for sale in Westford and Newton with accessory dwelling units
LOT SIZE 0.71 acre BEDROOMS 4 BATHS 4 LAST SOLD FOR $200,000 in 1993 PROS This expanded 1963 Cape with radiant-heat floors sits across from Jack Walsh Field. From the farmer's porch with swing, enter into a living room with hardwood floors and a fireplace. The dining room is open to a kitchen with Caesarstone counters, low breakfast bar, and nearby bath. A breezeway with window bench connects to an enclosed porch and a primary bedroom where sliders open to the patio and big backyard. There's a bedroom and bath above the two-car garage. Two more bedrooms and a library with vaulted ceilings share a bath on the second floor. The attached 2007 ADU has an open living area with tiled kitchenette, bedroom with ADA-compliant bath, and a deck. CONS Rambling layout; dated bathrooms in main house. Advertisement 2 Texas Road, Westford Handout Lilia Flores, Barrett Sotheby's International Realty, 774-245-7690, Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up $1,080,000 1224 BOYLSTON STREET / NEWTON The 2017 ADU has a full kitchen, bath, and bedroom with vaulted ceilings and patio. Handout SQUARE FEET 1,628 LOT SIZE 0.29 acre BEDROOMS 4 BATHS 2 full, 1 half LAST SOLD FOR $208,000 in 1994 PROS Once a stagecoach stop on the Old Worcester Turnpike, this 1825 Cape sits on a spacious corner lot in Upper Falls. From the back door, enter into a dining room with picture window. The adjacent living room features original exposed wood beams and a massive brick fireplace. Past a bath with laundry, the primary bedroom has a fireplace and walk-in closet. The kitchen has butcher-block counters and a breakfast nook, and an adjoining family room features a cathedral ceiling, recessed lights, and glass sliders to a flagstone patio and yard. Upstairs, find two more bedrooms, one with a private half bath. Across the lawn, the 2017 ADU has a full kitchen, bath, and bedroom with vaulted ceilings and patio. CONS Boylston Street is Route 9. Advertisement 1224 Boylston Street, Newton Handout KC Chinitz, Engel & Volkers, 617-529-2777, Jon Gorey is a regular contributor to the Globe Magazine. Send comments to
Yahoo
12 minutes ago
- Yahoo
Advent in talks to buy Kereis from Bridgepoint
Private equity firm Advent has initiated exclusive negotiations for the acquisition of Kereis, a multi-channel insurance brokerage in Europe, from private asset investor Bridgepoint. Terms of the potential deal remain undisclosed at this stage. The proposed acquisition is contingent on regulatory clearance and consultations with employees. Set up in 1991 with its headquarters in Paris, Kereis specialises in providing insurance broking services to insurers and banking partners. Kereis holds expertise in housing protection in France, overseeing more than 17 million contracts and supported by a workforce of more than 1,700 across seven European nations. Kereis CEO Philippe Gravier stated: 'This project opens a promising new chapter for Kereis, after 5 years of a successful partnership with Bridgepoint. 'We look forward to working closely with Advent as we continue to invest for the long term in our digital capabilities, expand into new markets, and deliver innovative solutions to our partners and clients across Western Europe.' Following the Bridgepoint partnering in 2020, Kereis has achieved a two-fold increase in revenue and has diversified into areas of corporate risk, health, and property and casualty (P&C) insurance. The company's growth and international reach have been significantly bolstered through mergers and acquisitions over the last three years. Advent director Hadrien de Bardies said: 'Our potential investment in Kereis builds on Advent's long-standing track record in financial services. We will leverage our global network and operational resources to help Kereis scale further, broaden its product offering, and strengthen its leadership position in the European market.' Advent's portfolio in the insurance sector includes investments in CCC Intelligent Solutions and Shift Technology. It also has history in France, stretching over 25 years and encompassing 15 platform deals with recent investments include Parfums de Marly – INITIO in 2023 and Mangopay in 2022. "Advent in talks to buy Kereis from Bridgepoint " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
