LONDON—Oil extended gains on Monday, rising about 3 percent after China’s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to…
Oil Jumps 3 Percent on Demand Optimism as China Borders Reopen
January 9, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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World Shares Up, Extending Wall Street Gains as US Wages Slow
January 9, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—World shares were mostly higher Monday following last week’s rally on Wall Street, where investors bet that slow U.S. wage gains may augur a cooling of the inflation that has led the Federal Reserve to hike interest rates. In Europe, Germany’s DAX gained 0.3 percent to 14,647.16 and the CAC 40 in Paris edged less…
Tech Firms Leading Job Cuts in Corporate America
January 8, 2023
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Business & MarketsCompaniescuteconomiceconomyemployeeinflationInflationaryjobsMedia & Big Techrecession
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Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Persisting inflation leading to interest rate hikes, weak consumer demand, and an economic slowdown in China have forced firms from Amazon to Walt Disney and banks to trim their workforce….
Tech Firms Lead Job Cuts in Corporate America
January 8, 2023
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Business & MarketsCompaniescuteconomiceconomyemployeeinflationInflationaryjobsMedia & Big Techrecession
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Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Persisting inflation leading to interest rate hikes, weak consumer demand, and an economic slowdown in China have forced firms from Amazon to Walt Disney and banks to trim their workforce….
Is the Fed Trying to Wean Markets Off Monetary Policy?
January 7, 2023
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Business & MarketsBusiness Columnistseconomic policieseconomyFedinflationMarketsMonetaryOpinionPolicyrecessionUSUS NewsViewpoints
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Commentary Is the Fed trying to wean the markets off monetary policy? Such was an interesting premise from former British diplomat Alastair Crooke via the Strategic Culture Foundation, to wit: “The Fed however, may be attempting to implement a contrarian, controlled demolition of the U.S. bubble-economy through interest rate increases. The rate rises will not slay…
Germany, Norway Reach Agreement on Blue Hydrogen Supplies
January 7, 2023
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blue hydrogenBusiness & Marketseconomic policieseconomyenergyenergy suppliesEuropeGermanyInvestmentMarketsNorwayrecessionRussia-Ukraine WarWorld
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A major Norwegian energy company has reached an agreement to supply Europe’s largest economy with “blue” hydrogen. Norway’s Equinor announced an agreement on Jan. 5 to supply the German power utility, RWE, with low-carbon hydrogen, in the first step towards replacing natural gas and coal, reported Deutsche Welle. The Norwegian supplier agreed to build hydrogen fueled power…
2023 Economic Recession Will Be Milder Than Predicted: Former Chief Economist
Despite alarming messages of high unemployment and a looming devastating recession, economic markers show any recession will be “more mild” than previously thought, Thomas Hogan stated in an interview, which aired on Newsmakers by NTD and The Epoch Times on Jan. 4. Hogan is currently a senior research faculty at the American Institute for Economic Research (AIER) and was…
Fed’s Bullard Says Prospects for a US Soft Landing Are Rising
St. Louis Federal Reserve leader James Bullard expressed optimism on Thursday that the new year could finally bring relief from inflation, adding the risk of a U.S. recession has fallen in recent weeks. The rate-setting Federal Open Market Committee “has taken aggressive action during 2022, with ongoing increases in the policy rate planned for 2023,…
Wall Street Opens Higher as December Jobs Report Eases Rate Worries
Wall Street’s main indexes opened sharply higher on Friday, as cooling wages and a moderation in U.S. jobs growth in December calmed worries over the Federal Reserve’s rate-hike trajectory. The Dow Jones Industrial Average rose 125.22 points, or 0.38 percent, at the open to 33,055.30. The S&P 500 opened higher by 15.27 points, or 0.40…
Europe’s Inflation Slows Again but Cost of Living Still High
LONDON—Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consumers. The consumer price index for the 19 countries that used the euro currency rose 9.2 percent in…
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