WELLINGTON, New Zealand—New Zealand’s economy has dipped into recession as higher interest rates take their toll, new figures released Thursday show. Gross domestic product fell by 0.1 percent in the March quarter, following a revised 0.7 percent fall in the previous quarter, Statistics New Zealand said. That fulfils the nation’s definition of a recession, which…
New Zealand’s Economy Dips Into Recession as Higher Interest Rates Bite
Retail Sales Rose 0.3 Percent in May Despite Pressure From Higher Inflation and Interest Rates
NEW YORK—Americans increased their spending at retailers last month despite pressure from still-high inflation and rising borrowing costs. Thursday’s report from the Commerce Department showed that retail sales rose 0.3 percent from April to May, boosted by stronger sales of auto and parts dealers. Economists had been expecting a decline in sales for the month….
Bud Light Is No Longer the No. 1 Beer in America
As the fallout over its decision to promote a transgender influencer continues, Bud Light was dethroned by Modelo Especial for the month of May, according to data. Modelo Especial, owned by Constellation Brands in the United States, is No. 1 and holds about 8.4 percent retail sales in the American beer market for the four-week…
Number of Americans Filing for Jobless Claims Is Elevated for 2nd Straight Week
June 15, 2023
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The number of Americans applying for unemployment benefits remained elevated last week, a possible sign that the Federal Reserve’s interest rate hikes over the past year may taking hold in what’s proved to be a resilient job market. U.S. applications for jobless claims were 262,000 for the week ending June 10, the Labor Department reported…
ECB Lifts Interest Rates to 22-year Highs
June 15, 2023
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LONDON—The European Central Bank raised interest rates for the eighth successive time, as expected, on Thursday and signalled further policy tightening, as it battles high inflation. The central bank for the 20 countries that share the euro also said it expected inflation to stay above its 2 percent target through 2025 and hinted once again…
Toyota Shareholders Defeat Climate-Change Proposal, Decline ESG Funds
June 15, 2023
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A climate-change disclosure proposal at Toyota that was pushed forward by three European funds has been voted down by shareholders. Danish pension fund AkademikerPension submitted the climate resolution together with Norway’s Storebrand Asset Management and Dutch pension investment company APG Asset Management in May. The resolution sought to make Toyota improve the disclosure of its…
Wall Street Opens Lower on Concerns Over Hawkish Fed
Wall Street opened lower on Thursday, with the S&P 500 and Nasdaq retreating from 14-month highs as the Federal Reserve signalled that interest rates could rise further this year. The Dow Jones Industrial Average fell 33.35 points, or 0.10 percent, at the open to 33,945.98. The S&P 500 opened lower by 7.26 points, or 0.17…
Music Publishers Sue Twitter for $250 Million Over Alleged Copyright Infringement
Twitter has been sued by the National Music Publishers’ Association (NMPA) for alleged copyright violations involving nearly 1,700 songs. The lawsuit (pdf) was filed in federal court in the Federal District Court in Nashville, Tennessee, on June 14 by NMPA on behalf of 17 major and independent music publishing companies including Universal Music Publishing Group, Sony Music Publishing, BMG…
Apartment Rent Growth Is Declining Fast
June 15, 2023
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Apartment rent growth in the United States is declining fast, after years of soaring prices. The decline in rents are giving many millions tenants relief for the first time since the early months of the pandemic, partially due to the increasing amount of apartments on the market. Rental prices may start to ease more this…
NZ Public Broadcaster Published Stories With Pro-Russian, Chinese, Palestinian Bias
June 15, 2023
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Asia & PacificAustraliaBusiness & Marketscommunist propagandaCompaniesEuropeInternationalmediaMedia & Big TechNew ZealandRussia-Ukraine Warterrorist propagandaWorld
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An ongoing review of the public broadcaster, Radio New Zealand (RNZ), has not only discovered a pro-Russian slant in its articles but also evidence of pro-Beijing and pro-Palestinian bias. RNZ chief executive, Paul Thompson, most recently apologised for publishing “pro-Kremlin garbage.” Speaking to the RNZ’s own daily news program, Checkpoint, Thompson described it as a…
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