Saudi Arabia may drop its plan to take huge oil company Aramco public
Social Security benefits will probably rise 2% next year
Bloomberg reports that California wildfires have grown substantially and take more lives. Its editors wrote
They fled in fear nearly a week ago. Now they’re ready to go back.
While wildfires are still burning powerfully in parts of Northern California, some of the tens of thousands of evacuees are getting antsy to return to homes that aren’t under immediate threat. Others want to see if they still have homes to return to.
But authorities are staying cautious in the face of blazes that have now killed at least 40 people and destroyed at least 5,700 homes.
IMF’s global forecast said the inflation is among the world’s economic problems. CNBC reports:
Member countries of the International Monetary Fund on Saturday welcomed the global upswing in economic activity but warned that the recovery was not yet complete given low inflation and geopolitical risks.
“The outlook is strengthening, with a notable pickup in investment, trade, and industrial production, together with rising confidence,” the International Monetary and Financial Committee, the IMF’s steering body, said in a communique.
A Goldman Sachs researcher said there may be bear markets ahead. According to Business Insider:
Goldman Sachs has circulated a fascinating but scary research note to clients suggesting that the probability of stocks entering a bear market in the next 24 months currently stands at about 88%, based on the history of previous bear markets.