Tag: economic policies

Oil Prices Steady After US Stockpile Swell

February 9, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Thursday, as optimism over recovering Chinese demand was offset by U.S. oil inventories hitting their highest in months and signs the U.S. Federal Reserve could keep raising interest rates. Brent crude futures gained 30 cents to $85.39 a barrel by 0856 GMT, while U.S. West Texas Intermediate (WTI) crude futures…

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SEC Warns Against Including Crypto Assets in Retirement Accounts

February 9, 2023
Business & Marketscrypto assetscrypto exchangecrypto regulationscryptocurrencyeconomic policieseconomyMarketsretirement fundsSEC alertUSUS News
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The U.S. Securities and Exchange Commission (SEC) has warned Americans over the risk of including assets like cryptocurrencies in their self-directed individual retirement accounts (IRAs) as well as unregulated trading platforms posing as exchanges. Some self-directed IRAs offer investment in crypto assets like tokens, coins, and virtual currencies. Such assets “may be securities that are…

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Fed Official Says Central Bank ‘Needs to Raise Rates Aggressively to Put a Ceiling on Inflation’

February 9, 2023
Business & Marketseconomic policieseconomyFedinflationinterest ratesrecessionUSUS News
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Minneapolis Fed President Neel Kashkari said on Feb. 7 that the central bank will need to keep aggressively raising interest rates, pointing to a stronger-than-expected jobs report in January. Kashkari told CNBC’s “Squawk Box” that the Bureau of Labor Statistics (BLS) report published on Feb. 3 (pdf) shows that the Federal Reserve’s aggressive monetary tightening policies over…

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World Shares Mixed After Wall Street Falls on Rate Hike Worries

February 9, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares advanced in Europe after a mixed session Thursday in Asia as uncertainty persists over interest rates and inflation. Benchmarks rose in Paris, London, Shanghai, and Hong Kong but fell in Tokyo, Seoul, and Sydney. U.S. futures gained while oil prices also were higher. Germany’s DAX added 1.4 percent to 15,621.11 and the CAC 40…

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‘You’ve Got to Make the Tough Decisions’: New South Wales’ Leaders Debate Gets Fiery

February 9, 2023
AustraliaBusiness & MarketsChris MinnsDominic Perrotteteconomic policieselectionInternationalNew South WalesNSWWorld
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Heated exchanges marked the first New South Wales (NSW) election debate as the premier and opposition leader locked horns over big issues facing Australia’s most populous state.  Voters of NSW will take to the polls on March 25 to decide whether they want to keep the centre-right Coalition, which has governed the state for 12 years…

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Mortgage Demand Up as Rates Fall for 5th Consecutive Week

February 8, 2023
30-year mortgageBusiness & Marketseconomic policieseconomyHome salesinflationInvestmentMarketsmortgage applicationsreal estateUSUS Real Estate
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Mortgage demand is recovering as rates continued to fall last week for the fifth consecutive time. The news caused current homeowners and potential homebuyers to immediately react to the changes. The total mortgage application volume, including refinances and loans to purchase a home, jumped 7.4 percent for the week ending Feb. 3, according to the…

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First Official Shipment of Australian Coal Arrives in China After 2 Years of Trade Bans

February 8, 2023
AustraliaBusiness & MarketsChinaChina Business & EconomyChina-Australia Relationschina-australia trade disputeeconomic policiesInternational RelationsMarketsWorld
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The first official shipment of Australian coal has landed in China as Beijing scrambles to “normalise” relations with the new Labor government. Around 72,000 tonnes of metallurgical coal arrived at Zhanjiang Port on Feb. 8 in the southeast of China, the first in two years after economic sanctions were placed on Australian exports in 2020….

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Americans Like Wind and Solar in Theory, Dislike Them in Practice, Study Reveals

February 8, 2023
Business & MarketsChinese miningeconomic policiesenergyESG (environmentalfossil fuelsrenewables subsidiesUSWind and solar
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A recent report by the Brookings Institution claims that “the American public overwhelmingly favors renewable power.” While this may be true in theory, when Americans experience the reality of it, they don’t seem to like it much at all. Brookings, which sees local resistance as an impediment to overcome, concedes that “even though people like…

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IMF Chief Fears the ‘Unthinkable’ in America’s Debt-Ceiling Standoff

February 8, 2023
borrowing limitBusiness & Marketsdebt ceilingeconomic policieseconomyIMFPoliticsUSUS News
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International Monetary Fund chief Kristalina Georgieva weighed in on the U.S. debt-ceiling standoff, warning in a recent interview that unless U.S. lawmakers take negotiations “very seriously,” then an “unthinkable” debt default can happen, with “very damaging” effects, including even higher interest rates and inflation. Georgieva made the remarks during an interview on CBS that aired…

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Shoppers to Face Fresh Price Hikes as Stores, Suppliers Pass on Costs

February 8, 2023
Business & MarketsCompaniesconsumerseconomic policieseconomyEuropeGold and CommoditiesgoodsinflationMarketsRussia-Ukraine WarWorld
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LONDON—Shoppers around the world will pay even more for groceries this year than they did in 2022, according to retailers, consumer goods firms, and investors, unless commodity costs decline or the shift to cheaper store-brand products accelerates. Retailers and consumer goods producers have been stuck in tough price negotiations for more than a year now,…

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