Global markets were mostly higher on Tuesday as investors weighed the impact of the escalating conflict in the Middle East on oil prices and economic recovery. Oil surged to a seven-year high as Israel and Hamas exchanged fire, raising fears of a wider regional war. Oil prices soar amid supply...
US mortgage rates hit 21-year high amid inflation fears
The average rate on the 30-year fixed-rate mortgage in the US has surged to 7.49%, the highest level since December 2000, according to Freddie Mac. The rising cost of borrowing is putting more pressure on homebuyers and homeowners who are already facing a tight housing market and high home prices....
Asia-Pacific stocks rise ahead of U.S. jobs report
Asia-Pacific stocks rose on Friday as investors awaited the release of the U.S. jobs report for September, which could provide clues on the Federal Reserve’s next move for interest rates. The report is expected to show a slowdown in hiring amid the Delta variant surge and supply chain disruptions. Australia’s...
UK plans to relax banking and insurance rules to attract post-Brexit investments
The UK government has announced its intention to ease some of the key regulations for the financial sector, in order to boost its competitiveness and attractiveness for investors after leaving the European Union. Ring-fencing rule to be revised One of the proposed changes is to increase the threshold at which...
Why the 50/30/20 Rule of Budgeting May Not Work for You
The 50/30/20 rule is a popular and simple way of budgeting your income. It suggests that you should allocate 50% of your income to your needs, 30% to your wants, and 20% to your savings and debt payments. The idea is to help you balance your spending and saving habits,...