
Moody's Upgrades Pakistan Rating as Financial Conditions Improve
The agency upgraded the South Asian country to Caa1 from Caa2 with a stable outlook, it said in a statement.
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CNBC
26 minutes ago
- CNBC
CNBC Daily Open: Trump says tariffs haven't caused inflation — economists think they will soon
Don't mess with DJ D-Sol — Goldman Sachs CEO David Solomon's stage name when he's rocking the clubs in his other life as a DJ. U.S. President Donald Trump criticized Goldman on Tuesday for predicting that tariffs would push up inflation, and said Solomon "should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ." In response, Goldman defended the results of its study, according to a CNBC interview with the bank's economist David Mericle. "If the most recent tariffs, like the April tariff, follow the same pattern that we've seen with those earliest February tariffs, then eventually, by the fall, we estimate that consumers would bear about two-thirds of the cost," Mericle said. Goldman, in fact, is not the only Wall Street bank putting forth this view. UBS senior economist Brian Rose wrote that "the downward trend in core inflation has been broken as tariffs start to feed through into retail prices," while Michael Feroli, chief U.S. economist at JPMorgan Chase, said in a note that tariffs could "add 1-1.5% to inflation, some of which has already occurred." Of course, a consensus view does not mean predictions will come true. Recall how economists were all but certain a U.S. recession would happen in 2023 — only for the economy to grow 2.5% that year. In any case, if Goldman — and economists from other banks —is proven wrong on tariff-driven inflation, and Trump, in a hypothetical scenario, manages to somehow push Solomon out of his position, at least DJ D-Sol will still be out there spinning agree that higher tariff inflation is coming. Despite Trump on Tuesday slamming Goldman Sachs for predicting higher consumer prices, the bank is standing by its research. Other Wall Street economists agree with its call. Trump is considering 11 candidates for Fed chair. Among the list of potential nominees are Federal Reserve officials, a Bush administration economic advisor, Jefferies Chief Market Strategist David Zervos and BlackRock's Rick Rieder. New records for U.S. stocks again. The S&P 500 and Nasdaq Composite climbed Wednesday to close at fresh highs, with the Dow Jones Industrial Average also rising. Shares of Paramount Skydance popped 36.7%. However, Asia-Pacific markets mostly fell Thursday. xAI's co-founder Igor Babuschkin leaves. Babuschkin said he's starting a venture firm to support AI safety research and invest in startups. Musk wrote, in response, "Thanks for helping build @xAI! We wouldn't be here without you." [PRO] The state of India's IT stocks after layoffs. Big Indian corporations, such as Tata Consultancy Services, Infosys and Wipro, have either trimmed their workforce or hiring. Here's what analysts think of the sector's stocks in light of those job cuts. In one of the world's most expensive cities, more workers are living paycheck to paycheck The Singapore consumer's reputation for financial prudence and high savings is showing signs of strain. Dealing with rising costs and a pursuit of experiences and self-care are taking precedence over long-term financial planning, experts observed. Some 60% of workers in Singapore were living paycheck to paycheck in 2024 — notably higher than regional peers such as China, South Korea, Japan and Indonesia, and above the Asia-Pacific average of 48%, a 2025 research from the payroll company ADP found.


Bloomberg
26 minutes ago
- Bloomberg
The China Show 8/14/2025
'Bloomberg: The China Show' is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)


Bloomberg
26 minutes ago
- Bloomberg
One of China's Few Surviving Builders Makes U-Turn on Debt Plans
Chinese developer Road King Infrastructure Ltd. is suspending all offshore debt payments, a reversal from a couple of months ago when it said it expected to have enough cash to pay interest on borrowings this year. The company said it should explore 'a holistic solution' to the situation, according to an exchange filing, a term that usually points to a debt restructuring.