Economy

Narendra Modi has big money behind him as he appears set to win a third term as India’s prime minister. His party has collected more political cash than the others combined, and the country’s richest business leaders support him.The campaign is fueled partly by a winning story Mr. Modi tells about India’s economy, some of which can be traced to…

What does land tax, Monopoly, and Australia have in common?Last week I wrote a piece about land tax and some economists who say we should tax land more so we can cut taxes on business and labour income.Today, let's read a bit more about Henry George (1839-1897), the once-famous American who made similar arguments more than 100 years ago, and who…

Consumers keep spending, income growth is muted, and inflation is still here. Bit by bit, debt obligations are eating into disposable income growth. As to whether these pressures may prove a headwind for consumers’ opening their wallets — well, that remains to be seen. There are, however, at least some indications that…

The office debate is over: Work from home—in some capacity—is here to stay.  That’s according to the so-called “guru” of the matter, Stanford economist Nick Bloom. Bloom recently appeared on New York Magazine’s “Pivot” podcast, hosted by journalist Kara Swisher and NYU professor Scott Galloway, as part of a four-part series dedicated to the…

Stay informed with free updatesSimply sign up to the US inflationmyFT Digest -- delivered directly to your inbox.A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of cutting interest rates from their current 23-year high.Christopher Waller, a Fed governor and one of…

A decade ago Xi Jinping was welcomed to Duisburg in Germany’s Ruhr valley. He praised the region as a hub for Chinese investment; greeted a train that had spent a fortnight travelling from Chongqing, via Russia, to Europe’s industrial belt; and enjoyed an orchestral performance of traditional mining songs. More recently, another Chinese arrival…

EL PASO, Texas – Clay Baron has everything in his pawn shop from gold rings and pearl necklaces to vintage cowboy boots, silver belt buckles, stereos and ticking clocks. The only thing he's short on is space. “Right now we have a glut of inventory,” Baron said, “which tells me that our clientele doesn't necessarily have money.”Accumulating pawn…

High prices and social inequalities are the main issues in the minds of voters, according to Euronews' exclusive poll. ADVERTISEMENTThe fight against rising prices and social inequalities are the most important issues for European voters ahead of the European Parliament elections in June, according to an exclusive poll by Ipsos for…

9 Mins AgoU.S. stocks open slightly lowerHere's how the major indexes opened on Friday:— Pia Singh2 Hours AgoEuro zone manufacturing activity continues declineEuro zone manufacturing continued to weaken in November, though some bright spots emerged, according to the latest purchasing managers' index figures from HCOB and S&P Global.The…

Comment on this storyCommentDestroy a seed, erase a future.On May 16, 2022, tens of thousands of rare seed samples were destroyed in the Russian shelling of Kharkiv’s Yuriev Institute, which houses Ukraine’s National Gene Bank.The Yuriev Institute has a storied past — its predecessor was founded in 1908, a time when Eurasian grain was feeding…