Tag: economic policies

Citigroup Expects ‘Less Hard’ Landing for Global Economy This Year

February 22, 2023
Business & MarketsCitigroupCompanieseconomic policieseconomyglobalinflationInternationalMarketsrecessionWorld
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Citigroup economists on Wednesday raised their global growth forecast slightly and see a “less hard” landing but still expect the world’s economy to grow at the slowest pace in 40 years. The Wall Street brokerage now sees global growth slowing this year to about 2.2 percent, 0.25 percent higher than their previous estimate due to…

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Dollar Builds on Gains as Economy Shines in February

February 22, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON/SINGAPORE—The dollar rose slightly on Wednesday, continuing to trade near six-week highs on the back of strong economic data. Survey data released on Tuesday showed U.S. business activity unexpectedly rebounded in February to reach its highest in eight months. In the eurozone, a survey-based gauge of activity also surged, hitting a nine-month high. The signs…

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Oil Falls on Fuel Demand Woes Ahead of US Fed Comments

February 22, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell for a third trading session on Wednesday as concerns about fuel demand were stoked by expectations that minutes due from the U.S. Federal Reserve will indicate a need to hike interest rates. Brent crude futures for April delivery fell $1.13, or 1.36 percent, to $81.92 a barrel by 1025 GMT. West Texas…

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Global Shares Follow Wall Street Lower in Rate Hike Fears

February 22, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares declined Wednesday after stocks tumbled on Wall Street as worries persist about higher interest rates and their tightening squeeze on the global economy. France’s CAC 40 slipped nearly 0.8 percent in early trading to 7,252.50. Germany’s DAX fell 0.7 percent to 15,290.37. Britain’s FTSE 100 dropped 0.9 percent to 7,902.44. The futures for…

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Walmart Gets Cautious on Economic Outlook, Sees Lower 2023 Performance

February 21, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsOutlookresultsstocksUSUS NewsWalmart
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Walmart Inc. struck a cautious note in its economic outlook for 2023 on Tuesday as the retail bellwether forecast full-year earnings below estimates and warned that cautious spending by consumers could pressure profit margins. Shares of the world’s largest retailer recouped most of its pre-market losses to rise 0.5 percent in early trading at a…

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Wall Street Slides at Open as Walmart, Home Depot Forecasts Disappoint

February 21, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main stock indexes opened lower on Tuesday as retailers Walmart and Home Depot delivered a double blow to traders returning after a long weekend amid worries that interest rates will remain higher for longer. The Dow Jones Industrial Average fell 127.00 points, or 0.38 percent, at the open to 33,699.69. The S&P 500…

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New Portuguese Law Will Force Owners of Vacant Homes to Get Tenants

February 21, 2023
Business & Marketseconomic policieseconomyEuropeGlobal Real Estategolden visahousing crisisInvestmentPortugalreal estateWorld
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The Portuguese government announced new measures last week to handle the country’s housing crisis, including ending the so-called “golden visa” program, and would put a ban on short-term holiday rental licenses, like for Airbnbs. Lisbon wants to force owners of vacant properties across Portugal to open them up to long-term renters because of soaring home and…

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Japan’s Factory Activity Shrinks at Fastest Pace in 2–1/2 Years: PMI

February 21, 2023
Asia & PacificBusiness & Marketseconomic policieseconomyinflationJapanmanufacturingPMIrecessionWorld
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TOKYO—Japan’s manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world’s third-largest economy, which is facing weakening demand and struggling to tame cost pressures. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) fell to a seasonally adjusted…

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Euro Struggles, but Robust Services Data Stems Losses

February 21, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The euro stayed under pressure on Tuesday after data showed eurozone manufacturing activity deteriorated this month, although a rebound in the more inflation-sensitive services sector kept losses in check. The euro has been struggling against the dollar in particular over the past couple of weeks, after strong U.S. labor data and signs of persistent inflation…

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Shares Slip as Key Economic Data Looms

February 21, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SINGAPORE—European stocks fell on Tuesday ahead of key data that will offer a window into the health of major economies, while the dollar hovered close to its highest in six weeks. The eurozone, Britain, France, and the United States are all set to publish flash February PMI data, with market players watching for signs of…

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