Tag: economic policies

Oil Steady as Market Juggles Supply and Demand Fears

March 7, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were little changed on Tuesday after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply. Brent crude futures fell 22 cents, or 0.26 percent, to $85.96 a barrel by 1043 GMT. U.S. West Texas Intermediate crude was down 16 cents, or 0.2 percent, at…

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Global Shares Mixed as Investors Watch Fed Moves, Inflation

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mixed in muted trading Tuesday as investors tried to digest a slew of economic data and awaited moves by the U.S. Federal Reserve. France’s CAC 40 fell 0.1 percent in early trading to 7,363.24. Germany’s DAX added nearly 0.1 percent to 15,659.63. Britain’s FTSE 100 edged up less than 0.1 percent to…

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USDA Proposes New Rule for ‘Product of USA’ Food Labels

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyFood labelsgrocerymeatPolicies & Impactsproduct of USAtransparencyUSUS NewsUSDA
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The U.S. Department of Agriculture (USDA) is considering a new rule regarding requirements on “Product of USA” labels in an effort to increase consumer understanding of what the claim actually means. The proposed rule was announced on March 6 and would allow the voluntary label “Product of USA or “Made in the USA” claim to be used on meat,…

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USDA Proposes New Rule for ‘Product of USA’ Food Labels in Bid to Increase Transparency

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyFood labelsgrocerymeatPolicies & Impactsproduct of USAtransparencyUSUS NewsUSDA
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The U.S. Department of Agriculture (USDA) is considering a new rule regarding requirements on “Product of USA” labels in an effort to increase consumer understanding of what the claim actually means. The proposed rule was announced on March 6 and would allow the voluntary label “Product of USA or “Made in the USA” claim to be used on meat,…

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Swiss National Bank Reports Annual Loss of 132.5 Billion Swiss Francs

March 6, 2023
Business & MarketsCompanieseconomic policieseconomyEuropeMarketsresultsSNBstocksswissWorld
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ZURICH—The Swiss National Bank reported on Monday an annual loss of 132.5 billion Swiss francs ($141.54 billion), in line with the provisional calculations it announced in January. The loss, the biggest in the central bank’s 115-year history, was caused by a plunge in the value of the SNB’s investments caused by bond and stock market…

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Wall Street Opens Higher as Focus Shifts to Powell’s Testimony

March 6, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened higher on Monday, as Treasury yields retreated ahead of Federal Reserve Chair Jerome Powell’s testimony and jobs data this week that could offer fresh cues on the trajectory of interest rates. The Dow Jones Industrial Average rose 34.35 points, or 0.10 percent, at the open to 33,425.32. The S&P 500…

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World Stocks Gain After Wall Street Has Best Day in 6 Weeks

March 6, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were mostly higher Monday in Europe and Asia after strong data on the U.S. economy sent Wall Street to its best close in six weeks. Germany’s DAX gained 0.4 percent to 15,644.08 and the CAC 40 in Paris was up 0.7 percent at 7,397.31. London’s FTSE 100 edged 0.1 percent lower to 7,941.38. The…

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Dollar Eases Ahead of Powell’s Testimony and Pivotal Monthly Jobs Data

March 6, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The U.S. dollar eased on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell ahead of the February jobs report at the end of the week that will likely influence how much more the U.S. central bank will raise interest rates. The dollar index, which measures the performance of the U.S. currency against…

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Oil Down on China Outlook, Spotlight on Powell Testimony

March 6, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Oil prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5 percent, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell’s testimony this week. Brent crude futures were trading down 53 cents, or 0.6 percent, at $85.30 a barrel at 0735 GMT. U.S. West Texas…

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Majority of Australian Voters Support Labor’s Plan to Raise Super Tax: Newspoll

March 5, 2023
AustraliaBusiness & MarketsDan Tehaneconomic policiessuper taxTony BurkeWorld
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A new poll has shown that the Labor government’s plan to lift the superannuation tax for high-income earners was well received by most Australian voters. According to the latest Newspoll conducted by The Australian, which surveyed 1,530 voters between March 1 and March 4, over six in ten (64 percent) respondents supported the government’s plan…

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