LONDON—The euro and sterling rose against the dollar as UK basic pay growth sped up and eurozone employment rose more than expected, underlining the resilience and tightness of the labor market across the region. A flash estimate of employment showed the number of people with jobs in the eurozone increased by 0.4 percent quarter-on-quarter, twice…
Oil Prices Dip on US Crude Reserve Release, Inflation Pressure
February 14, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices dipped on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve, while traders look out for U.S. inflation data for further queues. Brent crude futures fell 80 cents, or 0.9 percent, to $85.81 per barrel by 1003 GMT, while U.S. crude futures fell $1.05, or 1.3…
Global Shares Edge Higher Ahead of US Inflation Data, Yen Firms
February 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Global shares edged higher on Tuesday, tracking a rebound on Wall Street ahead of a key U.S. inflation report and speeches by Federal Reserve members, while the yen recouped losses after Japan nominated a new central bank governor. European shares cheered an upbeat handover from Asia, with the pan-European STOXX 600 up 0.5 percent, hovering…
Most Americans Believe Grocery Prices Will Keep Rising Despite Talk Of ‘Peak Inflation’
Most Americans believe that groceries have risen drastically over the past year and expect to pay more in the future, despite economists’ talk of “peak inflation.” The latest poll by Rasmussen Reports found that 85 percent of 1,000 American adult respondents said that food prices have risen since 2022. Meanwhile, only 9 percent said they disagree, and 6…
Australia’s Ambitious Foreign Policy Agenda Looks to Engage More With Africa
February 13, 2023
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AfricaAustraliaBusiness & Marketseconomic policiesfood insecurityInternationalMiddle EastTIm WattsWorld
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Australia is seeking to engage more with Africa, with the Assistant Minister of Foreign Affairs Tim Watts telling African-Australian community leaders that the current Labor government has set an agenda to develop more ties with African countries. Speaking at the Dr Apollo Nsubuga-Kyobe Memorial Lecture at La Trobe University in Melbourne on Feb. 11, Watts said…
Australia’s Ambitious Foreign Policy Agenda Looks to Push Engagement With Africa
February 13, 2023
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AfricaAustraliaBusiness & Marketseconomic policiesfood insecurityInternationalMiddle EastTIm WattsUSUS NewsWorld
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Australia is seeking to engage more with Africa, with the Assistant Minister of Foreign Affairs Tim Watts telling African-Australian community leaders that the current Labor government has set an agenda to develop more ties with African countries. Speaking at the Dr Apollo Nsubuga-Kyobe Memorial Lecture at La Trobe University in Melbourne on Feb. 11, Watts said…
DeSantis Calls For New Laws Barring ESG in Florida Banking
February 13, 2023
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Business & Marketscancel cultureeconomic policiesESG investingFeatured TopicsFloridaFlorida Gov. Ron DeSantisPolicies & ImpactsPoliticsRegional & State NewsSocial IssuesState NewsUSUS News
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Gov. Ron DeSantis has proposed new laws restricting financial institutions from using environmental, social, and governance (ESG) principles to guide investment decisions. In a press conference held at Florida SouthWestern State College in Naples, Florida, on Feb. 13, DeSantis said he was partly acting to protect Florida public employees’ pensions, as ESG-driven investing may not…
Fed’s Bowman Says More Interest Rate Hikes Needed to Tame Inflation
The Federal Reserve will need to continue to raise interest rates in order to get them to a level high enough to bring inflation back down to the central bank’s target rate, Fed Governor Michelle Bowman said on Monday. “I expect we’ll continue to increase the federal funds rate because we have to bring inflation…
New Report Reveals American Companies With High Likelihood to Go ‘Woke’
A new report puts the spotlight on businesses at the risk of going “woke” by pushing ideologies rather than focusing on profits and revenues, giving Americans the ability to take preemptive action against such companies. The “Corporate Bias Ranking” report by the nonprofit 1792 Exchange assessed policies, practices, and other relevant criteria of more than…
Let’s Rethink Stock Buybacks—and Drop Biden’s Proposed Excise Tax
February 13, 2023
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Business & MarketsBusiness Columnistseconomic policiesinvestingInvestmentMarketsSECstock buybacksstock manipulationstocksUS
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Commentary Bloomberg, citing private newsletter publisher Birinyi Associates, reports that “announced buybacks more than tripled (in January) to $132 billion from a year ago, reaching the highest total ever to start a year.” For those of us who follow these things, it’s not surprising: the record level of stock buybacks comes amid an earnings season that has been…
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