LONDON—Global equities slipped and bond yields hit multi-year highs on Tuesday after consumer prices hit a record in France and accelerated in Spain, adding to expectations that major central banks will need to continue tightening policy. France’s European Union-harmonised consumer prices rose to a record 7.2 percent in February while Spain’s EU-harmonised 12-month inflation was…
Shares Slip, Bond Yields Hit Multi-Year Highs on Inflation Fears
February 28, 2023
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Tax Rates Doubled for Pension Fund Accounts With Over $3 Million
February 28, 2023
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anthony albaneseAustraliaBusiness & Marketseconomic policiesInternationalJim Chalmerspension fundspersonal financeSuperannuationWorld
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Australians with more than $3 million (US$2.02 million) stowed away in their pension funds (superannuation) will see tax breaks reduced for money over that benchmark under a new Labor government policy announced on Feb. 28. Prime Minister Anthony Albanese and Treasurer Jim Chalmers say the move will affect 0.5 percent of the population—around 80,000 individuals—while…
House Wants Companies to Tell Consumers About Cameras, Microphones in Devices
February 28, 2023
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Big Tech, Censorship, and SocialismBusiness & MarketscameraCompaniescongressconstitutional rightseconomic policieseconomyFeatured TopicsInternet of ThingsmicrophoneNational SecurityPolicies & ImpactsPoliticssmartUSUS News
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The House of Representatives on Feb. 27 overwhelmingly voted to make manufacturers tell consumers if an Internet-connected device comes with a camera or microphone, with enforcement left to the Federal Trade Commission. That requirement does not cover certain devices, such as “a telephone (including a mobile phone), a laptop, tablet, or any device that a…
Trump Floats Universal Import Tariffs in 2024 Campaign
February 28, 2023
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2024 electionBusiness & MarketsChinaCommunist ChinaDonald Trumpeconomic policieseconomyJoe BidenPolicies & ImpactsPoliticsTarriffThreat from Communist Chinatrade policyUSUS NewsUS-China relations
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Former President Donald Trump and his 2024 presidential campaign, released his “America First” trade plan that would promote universal tariffs on most imported goods if he takes office for his second term. The 45th president called for a system of universal baseline tariffs on most foreign products that rewards American domestic production while taxing foreign companies, in…
Deutsche Bank Forecasts US Recession in Fourth Quarter, Followed by Rate Cut
The U.S. economy will slip into a recession in the fourth quarter, and the Federal Reserve will respond with a rate cut in the following quarter, Deutsche Bank said in a new forecast. The bank updated key economic projections in a research note last week after several developments on multiple fronts. According to Deutsche Bank,…
Deutsche Bank Forecasts US Recession in 4th Quarter, Followed by Rate Cut
The U.S. economy will slip into a recession in the fourth quarter of 2023, and the Federal Reserve will respond with a rate cut in the following quarter, Deutsche Bank said in a new forecast. The bank updated key economic projections in a research note last week after several developments on multiple fronts. According to…
US Core Capital Goods Orders Post Largest Gain in 5 Months; Shipments Surge
WASHINGTON—New orders for key U.S.–manufactured capital goods increased by the most in five months in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter. Some of the larger-than-expected rise in core capital goods orders reported by the Commerce Department on…
Wall Street Opens Higher After Worst Weekly Selloff of 2023
Wall Street’s main indexes opened higher on Monday as investors bought beaten-down shares after the main benchmarks suffered their worst weekly selloff of the year on worries of aggressive interest-rate hikes. The Dow Jones Industrial Average rose 89.24 points, or 0.27 percent, at the open to 32,906.16. The S&P 500 opened higher by 22.32 points,…
Dollar Hovers Near 7-Week High as US Rate Expectations Rise
SINGAPORE/LONDON—The dollar wavered near a seven-week high on Monday, as investors took stock of last week’s strong economic data and rapid reconsideration of where interest rates will peak. Data on Friday showed U.S. consumer spending rebounded sharply in January, while inflation accelerated. Traders now expect the Fed to raise interest rates to around 5.4 percent…
Oil Rises on Russian Supply Jitters
February 27, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices edged up in volatile trade on Monday, as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March, but a stronger dollar and fears of recession capped gains. West Texas Intermediate U.S. crude futures (WTI) traded at $76.68 a barrel, 36 cents, or 0.5 percent…
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