TOKYO—Global shares were mostly lower Wednesday as investors fretted that the Federal Reserve might raise interest rates faster if the pressure stays high on inflation. France’s CAC 40 shed 0.2 percent to 7,325.65 in early trading. Britain’s FTSE 100 dipped 0.3 percent to 7,898.54. Germany’s DAX inched down less than 0.1 percent to 15,555.97. U.S….
Global Stocks Fall Amid Fears About Faster Rate Hikes
March 8, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Opposition Leader Uses S-Word to Describe Labor Government’s Economic Policies
Opposition leader Peter Dutton has delivered a stinging criticism of the Labor government’s economic policies and accused it of experimenting with socialism. Dutton launched salvos at the government’s net-zero policy, near-compulsory multi-employer bargaining laws, and superannuation changes, as well as questioning its commitment to the Stage Three individual tax cuts. “In his meandering essay, Treasurer…
Used Car Prices Push Higher in Sign of Inflation Stuck in High Gear
American used car prices climbed even higher as inflation continues to rise, according to a recent report. It appears unlikely that car buyers will get good bargains for used cars or trucks this spring, with wholesale used vehicle prices surging for a third consecutive month in a row in February. Cox Automotive’s Mannheim Used Vehicle Value…
Loose Monetary Policy Can Trigger ‘Financial Turmoil’ in the Future, Fed Admits in New Paper
The Federal Reserve adopting a loose monetary policy—slashing interest rates and buying Treasurys—for an extended period can lead to “financial turmoil” several years later, the central bank stated in a new paper. Economists at the Fed Bank of San Francisco published a new study, titled “Loose Monetary Policy and Financial Stability,” (pdf) trying to determine…
Retirements of Millions of Americans in ‘Jeopardy’ as ESG Rule Weakens Protections
March 7, 2023
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Business & Marketseconomic policiesenergyERISAESG investingExecutive BranchinflationInvestmentpension planspersonal financePoliticsUS
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News Analysis The Biden administration and Congress are currently caught up in a tug-of-war over a new Labor Department rule regarding whether Americans’ retirement savings should be used to finance a climate and social-justice agenda. This conflict goes well beyond obscure investment rules and administrative procedures and will likely affect the financial security of many…
Retirement Funds of Millions of Americans in ‘Jeopardy’ as ESG Rule Weakens Protections
March 7, 2023
admin
Business & Marketseconomic policiesenergyERISAESG investingExecutive BranchinflationInvestmentpension planspersonal financePoliticsUS
0 Comment
News Analysis The Biden administration and Congress are currently caught up in a tug-of-war over a new Labor Department rule regarding whether Americans’ retirement savings should be used to finance a climate and social-justice agenda. This conflict goes well beyond obscure investment rules and administrative procedures and will likely affect the financial security of many…
Chevron CEO Warns That Premature Transition to Low-Carbon Would Be ‘Painful and Chaotic’
Chevron CEO Mike Wirth said that maintaining secure and affordable energy supplies amid the push to decarbonize is one of the biggest challenges of the day while warning that a premature shift to low-carbon risks a disorderly transition that would be “painful and chaotic.” Wirth made the remarks during Monday’s session of S&P Global’s CERAWeek…
Wall Street Slips at Open as Investors Await Powell’s Testimony
Wall Street’s main indexes opened marginally lower on Tuesday in cautious trading ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress that could shed more light on the central bank’s interest rate hike plans. The Dow Jones Industrial Average fell 3.13 points, or 0.01 percent, at the open to 33,428.31. The S&P 500 opened…
Bank of America CEO Sees US Technical Recession in 3rd Quarter
SYDNEY—Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review’s Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second quarter of 2024….
Dollar Steady Before Powell Testimony; Aussie Slips
SINGAPORE/LONDON—The U.S. dollar held steady on Tuesday ahead of testimony before Congress by Federal Reserve Chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia hinted it might nearly be done with monetary tightening. The Australian dollar was the day’s major G10 mover, sliding as much as 0.79 percent to $0.6679, its…
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