admin

Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop and other stocks the fund was betting against, a source familiar with the matter told CNBC. The heavy losses come as retail investors piled into popular hedge fund short targets, including the struggling video game retailer. Shares of GameStop finished last week with a gain …

Melvin Capital, hedge fund that bet against GameStop, lost more than 50% in January Selengkapnya »

After a year in which a pandemic and politics posed challenges unlike the U.S. has seen in generations, the economy closed 2020 in fairly good shape. Gross domestic product, or the sum of all goods and services produced, increased at a 4% pace in the fourth quarter, slightly below the 4.3% expectation from economists surveyed …

U.S. economy closes out 2020 with lower than expected 4% gain Selengkapnya »

BEIJING — Manufacturers in China are finding it more difficult to hire workers. The government’s fourth-quarter list of 100 jobs with the greatest labor shortage showed manufacturing-related positions accounted for 36, or more than a third, the Ministry of Human Resources and Social Security said Tuesday. Among new additions to list, 15 were related to …

China reports a growing shortage of factory workers Selengkapnya »

BEIJING — Chinese consumer spending is set to more than double in 10 years, with an emphasis on services rather than goods, Morgan Stanley analysts predicted in a roughly 200-page report released Wednesday. By 2030, China’s private consumption is set to reach $12.7 trillion, about the same amount that American consumers currently spend, the report …

Chinese consumer spending is set to double by 2030, Morgan Stanley predicts Selengkapnya »

BEIJING — China is set to overtake the United States as the world’s largest economy a few years earlier than anticipated due to the coronavirus pandemic, analysts said. The U.S. reported last week that gross domestic product in 2020 contracted by 2.3% to $20.93 trillion in current-dollar terms, based on a preliminary government estimate. In contrast, …

New chart shows China could overtake the U.S. as the world’s largest economy earlier than expected Selengkapnya »