WASHINGTON—U.S. retail sales rose less than expected in June as receipts at service stations and building material stores declined, but consumers boosted or maintained spending elsewhere, which likely kept the economy on a solid growth path in the second quarter. Overall, the mixed report from the Commerce Department on Tuesday painted a picture of consumer…
Pound Slides After Cooler Inflation Data, Yen Under Pressure Again
LONDON/SINGAPORE—Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. The pound dropped as much as 0.8 percent against the dollar to $1.2931, and also…
Stocks Climb, Sterling Weighed Down as UK Inflation Slows
July 19, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
LONDON, SYDNEY—Global stocks and government bonds rallied on Wednesday as good news on UK inflation added to a picture of cooling price pressures, although the data slammed the brakes on sterling’s recent winning streak. Headline British consumer price inflation fell to 7.9 percent year-on-year in June, against expectations for 8.2 percent, in the latest downside…
New York Federal Reserve Reports Surge in Credit Application Rejections
July 19, 2023
admin
Business & Marketseconomic policieseconomyinflationloan applicationloan rejectionNew York Federal Reservepersonal financePolicies & Impactsreal estaterecessionUSUS NewsUS Real Estate
0 Comment
The New York Federal Reserve Bank said more Americans had their credit applications rejected last month at levels not seen in years. The New York Fed reported on July 16 added that fewer people across the country also sought to borrow. The report was part of the bank’s monthly Survey of Consumer Expectations, which is taken every four…
Australia’s Renewable Energy Projects Suffer Under High Inflation
A new analysis has found that inflation and supply chain issues have caused significant increases in the cost of renewable energy projects in Australia, with cost pressures likely to remain till the end of this decade. The Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Energy Market Operator (AEMO) have released a report…
American Startups Facing a Tough Situation in 2023, With Little Sign of Relief
July 18, 2023
admin
Business & MarketsCompanieseconomic policieseconomyinflationInvestmentMarketsMedia & Big TechrecessionSilicon ValleystartupsTechTech NewsUSUS Newsventure capital
0 Comment
It is becoming more apparent that American startups are facing a bad year, and financial relief is far from coming. Higher interest rates, a shaky U.S. economy, and the recent banking crisis have led to a shortage of funds for capital-hungry startups in their early stages, along with less opportunity for those in late-stage development…
Canadian Inflation Drops to 2.8% but Economic Challenges Persist
Commentary The Canadian Consumer Price Index (CPI) dropped to 2.8 percent annualized to the end of June from 3.4 percent in May. The index was expected to drop to 2.9 percent as a result of easing price pressures and the drop off of the June 2022 figure as the CPI rose about 0.6 percent that…
Treasury Secretary Yellen Doesn’t Expect a Recession in US
July 18, 2023
admin
Business & MarketsChinaChina Business & EconomyChina Newseconomic policieseconomyinflationInvestmentJanet YellenNational SecurityPolicies & ImpactsrecessiontariffsThreat from Communist ChinaUSUS NewsUS-China relations
0 Comment
U.S. Treasury Secretary Janet Yellen said during an interview that the U.S. economy would not be hit by a recession. While Ms. Yellen was in attendance at a G-20 summit in Gandhinagar, India, she told Bloomberg on July 17 that the United States was making good progress in bringing inflation down this year. Ms. Yellen…
Dollar Slips Towards 15-month Low, Euro Scales 17-month Peak
LONDON—The dollar drifted near a 15-month low against its major peers on Tuesday, as investors awaited fresh catalysts to gauge for downside in the wake of last week’s cooler-than-expected U.S. inflation. The U.S. dollar index, which measures the greenback against a basket of six currencies, fell as low as 99.587, languishing near Friday’s trough of…
World Stocks Near 15-month High; China Data Weighs on Markets
July 18, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
LONDON—World shares were steady near their recent 15-month highs and the dollar held close to a one-year low on Tuesday as investors paused to take stock of weak economic data from China and waited for U.S. retail sales data and earnings. Asian stocks fell earlier in the session as markets caught up with growth data…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`