Tag: recession

Greens Call Federal Government’s Housing Accord a ‘Complete Con’

November 28, 2022
Affordable HousingAustraliaaustralian housing marketBusiness & MarketseconomyGlobal Real EstateInternationalJim Chalmerspersonal financereal estaterecessionsocial housingWorld
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The Greens party have accused the federal government of hustling Australians after an analysis by the Parliamentary Library alleged that only 2.02 percent of the one million homes promised under the National Housing Accord would be affordable. The National Housing Accord, announced on Oct. 25, by Treasurer Jim Chalmers, is a landmark agreement between the…

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Wall Street to Open Lower on China’s Anti-Lockdown Protests; Apple Slips

November 28, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street Opens Lower on China COVID-19 Protests; Apple Slips

November 28, 2022
Business & MarketsCompanieseconomic policieseconomyinflationMarketsMedia & Big TechrecessionstocksUS
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Wall Street’s main indexes opened lower on Monday as protests in major Chinese cities against strict COVID-19 policies reignited concerns about economic growth, while Apple slipped on a report of disruption in production at a factory in China. The Dow Jones Industrial Average fell 71.1 points, or 0.21 percent, at the open to 34,275.91. The…

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Dollar Slips, While Yuan Slumps on COVID-19 Unrest in China

November 28, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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SINGAPORE/LONDON—The dollar weakened on Monday as investors weighed up the recent drop in U.S. government bond yields, while anti-regime protests in China sent the yuan to a two-week low. Protests have flared across China and spread to several cities in the wake of an apartment fire that killed 10 people in the city of Urumqi…

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Oil Prices Erase 2022 Gains as China’s Protests Spark Demand Worries

November 28, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Oil prices fell to near their lowest levels this year on Monday as street protests against strict COVID-19 curbs in China, the world’s biggest crude importer, stoked concern about the outlook for fuel demand. Brent crude dropped $2.66, or 3.1 percent, to trade at $80.97 a barrel at 1000 GMT, after diving more than 3…

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China’s Anti-Lockdown Protests Shake Stocks and Oil

November 28, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SYDNEY/LONDON—Stocks and commodities prices suffered a broad sell-off on Monday as rare protests in major Chinese cities against the country’s strict zero-COVID-19 curbs hit growth expectations in the world’s second-largest economy. Clashes between police and protesters across several major cities over the weekend halted a tentative stocks rally that gathered pace last week as hope-starved…

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‘Better to Do Too Much Than Not Enough’: RBA Governor Rationalises Interest Rate Hikes

November 27, 2022
AustraliaBusiness & Marketseconomic policieseconomyhigh interest ratesinflationphilip lowerecessionReserve Bank of AustraliaWorld
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The governor of the Reserve Bank of Australia (RBA) has apologised to Australians for higher interest rates as a result of the inflationary effects of COVID-19 stimulus but noted the package was a risk that was worth taking. Speaking at a Senate Estimates hearing in Canberra on Nov. 28, RBA Governor Philip Lowe said he…

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American Consumers’ Sentiment on Economy Plunges, According to New Survey

November 26, 2022
Business & Marketsconsumer sentimenteconomyinflationMarketsrecessionUS
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American consumer sentiment fell this month, despite upwardly revised figures in a newly released survey. The consumer sentiment index for November had deteriorated less than expected, and was revised to 56.8 from initial projections of 54.7 percent, according to the University of Michigan on Nov. 24. The results were better than most economists’ expectations with the…

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Small Business Confidence in Canada Hits One of Lowest Levels Ever, CFIB Says

November 26, 2022
Canadainflationinterest ratelabour shortagerecessionsmall businessWorld
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Small business confidence in Canada has hit one of its lowest levels ever amid fear of a Christmas recession, according to the Canadian Federation of Independent Business (CFIB). The federation reported on Nov. 24 that the confidence of Canadian small business owners is on a downward trend for the third consecutive month, and their outlook…

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Americans Worried About the Economy Plan to Spend Less on Christmas Gifts: Survey

November 25, 2022
Business & Marketsconsumer sentimenteconomic recessioneconomyhigh inflationHoliday Shoppingpersonal financepersonal savings raterecessionuniversity of michigan surveyUS
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U.S. citizens, worried about the state of the economy, are now planning to spend less on buying holiday gifts and cut down on shopping this holiday season. According to a survey by the University of Michigan, consumer sentiment declined 15.7 percent year-on-year to 56.8 in November. On a monthly basis, it fell by 5.2 percent….

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