As the holiday season nears its end, another school year has just kicked off in the EU capital — a great time to remember how things were decades ago at the school for Europan Common Market delegates in 1972.
“The financial system itself is now constraining China’s economic growth rather than facilitating it.”
The White House on Monday issued a strong rebuke to a partisan proposal recently rolled out by GOP leadership to avert a government shutdown later this month, as both sides dig in their heels in a pre-election funding showdown. The White House argued the funding pitch unveiled Friday fell short of providing “necessary resources” for…
(Bloomberg) -- China’s core inflation cooled to the weakest in more than three years, fueling calls for greater efforts to boost household spending as weak demand puts the annual growth target under pressure.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry
(Bloomberg) -- Since declaring himself the winner of July’s presidential vote, Venezuela’s Nicolás Maduro has been condemned by governments across the world, targeted by massive street protests and spurned by some of his closest allies.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisChicago Halts Hiring as Deficit Tops $1 Billion Through 2025World's Second Tallest Tower Spurs Debate About Who Needs ItUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusThe
Asian stocks are set to open sharply lower on Monday, tracking Wall Street's slump on Friday after investors interpreted U.S. jobs data and comments from top Fed officials as a 'worst of both worlds' outcome - further labor market weakness, but little appetite to cut interest rates by 50 basis points next week. If heightened anxiety over the U.S. economic and policy outlook were not enough, Asia's calendar is packed with top-tier economic indicators from China, Japan and Taiwan that will be of potential global significance too. Japan releases bank lending, trade, current account and revised GDP growth figures, Taiwan releases trade data, and perhaps most important of all, China unveils producer and consumer price inflation figures.
The bombshell that Volkswagen is considering the first ever closure of its German factories has sparked a fresh debate about the company - and the country's - exposure and strategy towards China. Last week, Volkswagen chief executive Oliver Blume said the group was considering closing a large vehicle plant and a component factory, amid stiff competition from Chinese rivals. "The European automotive industry is in a very demanding and serious situation. The economic environment became even toughe
Congress is staring down a time crunch to avert a shutdown, with both parties digging in their heels and some Republicans expressing skepticism about their own party’s plans less than a month before government funding is set to run out. Lawmakers return to Washington on Monday facing a Sept. 30 deadline to avert a government…
It is hard for Dogan Duman to see how he can keep his garment factory in central Turkey running much longer, even after firing a third of his staff to cut costs that have soared for companies nationwide, generating a wave of bankruptcies and closures. Such sober scenes are spreading across Turkey as part of the fallout from a more than year-long policy-tightening effort, including a 50% benchmark interest rate, to rein in years of soaring inflation and overheated demand. Thousands of companies like Duman's - which makes coats and jackets for global fashion brand Zara - are squeezed by inflation that topped 75% earlier this year, an overvalued lira, hikes to electricity and gas prices and dwindling export orders.
A big, bold rate cut might be just what’s called for right now. That doesn’t mean the Federal Reserve will deliver it, Larry Hatheway writes in a guest commentary.
Global trade disruptions could make it harder for the Bank of Canada to consistently meet its 2% inflation target, and it will have to balance the risks of controlling higher prices with ensuring economic growth, Governor Tiff Macklem said on Tuesday. Inflation in Canada has been consistently falling this year, pushed down by interest rates that were at a two-decade high of 5% for more than a year before the central bank cut rates three times in a row from June. "Trade disruptions may also increase the variability of inflation," he said in a speech to the Canada-UK Chamber of Commerce in London, citing the effect that supply shocks can have on prices.
TORONTO — Canada's main stock index gained almost 250 points Monday amid a broad rally led by financial, industrial and technology stocks, while U.S. markets also climbed higher, snapping out of last week's losing streak.
Canada’s unemployment rate rose to 6.6% in August, its highest level since 2017 excluding the Covid-19 ...
Investors got some much-needed R&R over the weekend, apparently, because they came back to work Monday with smiles on their faces and a brighter outlook about America’s economy.
(Bloomberg) -- Deflation stalking China since last year is now showing signs of spiraling, threatening to worsen the outlook for the world’s second-largest economy and raising calls for immediate policy action.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisChicago Halts Hiring as Deficit Tops $1 Billion Through 2025World's Second Tallest Tower Spurs Debate About Who Needs ItUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusThe Plan for the World’s Most
NEW YORK (AP) — U.S. stocks climbed Monday to claw back some of the losses from their worst week in nearly a year and a half.
The August jobs report came in weaker than expected last Friday, leaving investors wondering how the labor print, along with upcoming inflation data releases this week, could impact Federal Reserve policy and the broader economy. To discuss the economic outlook, Morningstar Chief US Economist Preston Caldwell joins Catalysts. Caldwell believes the Fed will continue cutting interest rates at every meeting for the remainder of 2024, though he states a 50-basis-point cut is "unlikely." He notes that bond yields (^TYX, ^TNX, ^FVX) have already started to decline in anticipation of a rate cut, which "will already start to work its way into the economy." With the labor market cooling, Caldwell says this has begun to frontload the impact of monetary policy easing, "reducing the need for the Fed to hurry." Despite these developments, Caldwell does not foresee a recession or a labor market collapse. However, he does anticipate a "mild slowdown," projecting that GDP (gross domestic product) growth will trend down nearly 1.5%. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
The Canadian dollar strengthened against its U.S. counterpart on Monday as Wall Street rallied, but the move was limited ahead of a speech by Bank of Canada Governor Tiff Macklem that could offer clues on the pace of interest rate cuts. The loonie was trading 0.1% higher at 1.3553 to the U.S. dollar, or 73.78 U.S. cents, after hitting a two-week low on Friday at 1.3582. "The Canadian dollar's recovery today is not really about good developments coming out of Canada," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC.
"The bottom line is that the US economy is not in a recession, and there are no signs of a recession on the horizon," Apollo's Tosten Sløk said.
(Bloomberg) -- Bond traders who struggled to predict how high the Federal Reserve would raise interest rates are finding the way down just as vexing.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainAt TCW Group Inc., Jamie Patton, the c
Wall Street futures have found their feet after Friday's exaggerated market reaction to an otherwise middling employment report - with Apple's new iPhone and Tuesday's presidential candidates' debate next up on the radar. But the report was neither strong enough to completely dispel slowdown and recession fears for next year nor was it seen to be weak enough to nudge the Federal Reserve into a jumbo 50-basis-point interest rate cut this month. Top Fed policymakers Christopher Waller and John Williams underscored expectations that a Sept. 18 cut is coming - the former even said the easing cycle should be 'frontloaded'.
