Louise Loo, lead economist for China at Oxford Economics, says "we are expecting … consumer sentiment to stay quite weak, and what that means is that there is no sign of a visible turnaround for the second half of this year."

China likely to 'undershoot' its GDP growth target for 2024 at current pace: Economist

Reuters

London (Reuters) -Oil prices declined more than 1% on Tuesday on worries of a slowing Chinese economy crimping demand and despite a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September.

Oil falls on lingering demand concerns in China

BEIJING (Reuters) - China's economy grew much slower than expected in the second quarter, as a protracted property downturn and job insecurity squeezed domestic demand, keeping alive expectations Beijing will need to unleash even more stimulus. The world's second-largest economy grew 4.7% in April-June, official data showed, its slowest since...

China's economy falters as property, consumer pain worsens

Business Times

China reported a record $99 billion trade surplus for June, underscoring a significant disparity between booming exports and declining imports. This record surplus, far exceeding the $85 billion expected by financial markets, reflects a complex economic landscape as importers rush to beat impending tariffs on Chinese goods while domestic demand remains tepid.

China Posts Record Trade Surplus as Export Surge Outpaces Sluggish Imports

NEW DELHI (Reuters) -India's goods and services exports likely rose 5.4% year-on-year to $65.47 billion in June, driven by a pick-up in orders that could push total exports to $800 billion in the current fiscal year ending in March 2025, the trade secretary said on Monday. Merchandise imports in Asia's...

India's June exports rise 5.4% y/y; government expects $800 billion in FY25

Rhode Island State

Taylor Swift and Travis Kelce are said to be planning a $3 million wedding next year with a star-studded guest list.

Taylor Swift, Travis Kelce To Spend $3 Million For Their 'Star-Studded' Wedding In Rhode Island Next Year: Report

President Joe Biden faces new molestation allegations from his daughter’s diary as #TrumpPedoFiles trends online linking Donald Trump to the late Jeffrey Epstein.

Joe Biden Faces Renewed Allegations That He 'Molested' His Daughter As #TrumpPedoFiles Trends Online: 'This Is Definitely Not Presidential Behavior'

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

California State

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community_voice

The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

As dawn breaks at the base of Otay Mountain, the oppressive heat already engulfs the landscape. Even in the early morning, temperatures near this 3,500-foot peak soar into triple digits, a harbinger of the deadly conditions awaiting migrants attempting to cross the U.S.-Mexico border. This part of California is under an excessive heat warning, exacerbating the perils for those making the treacherous journey.

California Heat Exposes Migrants to Life-Threatening Conditions Amid Rising Temperatures

Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at the average lender. 30yr fixed rates had...

Mortgage Rates Drop Sharply After Inflation Data

Money

The Federal Reserve is now widely forecasted to cut interest rates by September after new inflation numbers came in lower than expected. The latest consumer price index (CPI) report showed that inflation has cooled to a 3% annual rate, tying the lowest level since March 2021. Overall, prices declined 0.1% for the month.

Get Ready for Interest Rate Cuts in September, Analysts Say

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Stop & Shop, a major grocery chain owned by Dutch conglomerate Ahold Delhaize, announced on Friday its decision to close 32 underperforming stores across the northeastern United States. This strategic move aims to bolster the company's financial performance amidst growing competition and rising inflation.

Stop & Shop to Close 32 Stores Amid Rising Competition and Inflation Pressures

Wholesale prices in the United States rose more than anticipated in June, indicating that some inflationary pressures persist despite recent signs of easing. The Labor Department reported that the Producer Price Index (PPI) increased by 0.2% from May to June, surpassing economists' expectations of a 0.1% rise. On a year-over-year basis, wholesale prices were up 2.6%, marking the sharpest increase since March 2023.

US Wholesale Inflation Rises in June, Challenging Fed's Rate Cut Plans

New Jersey State

Morristown Minute

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

Kentucky State

Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

Shenandoah, PA

The Shenandoah (PA) Sentinel

SHENANDOAH – Two long-abandoned buildings in the southeast section of town will be coming down...
The post Long-abandoned Martin Shirt, Abbatoir to come down first appeared on The Shenandoah Sentinel.

Long-abandoned Martin Shirt, Abbatoir to come down

Markets Insider

The S&P 500 will plunge 32% in 2025 as a recession finally hits the US economy, BCA Research predicts. The firm said the Fed will fail to prevent a recession as it takes its time cutting interest rates. Rising unemployment and constrained credit will curb consumer spending, worsening the downturn.

The stock market will drop 32% in 2025 as the Fed fails to save the economy from a recession, research firm says

The CPI and PPI reports were likely to show inflation moved sideways in June despite the month’s lower prices of gasoline, diesel, and used cars. Inflation slowed sharply in the second half of 2023, so unless inflation slows even more dramatically in the next few months, the headline year-over-over measure of prices is likely to hold little changed. Shelter costs are an exception, and likely rose at a slower year-over-year pace in June than in May.

China's Q2 GDP Misses Forecasts, Economic Stimulus Expected to Intensify

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