Tens of thousands of nurses and ambulance workers have staged the biggest strike in the history of Britain’s National Health Service (NHS). The industrial action—the first time ambulance workers and nurses have walked out on the same day—has been organised by the Royal College of Nursing (RCN) along with the GMB and Unite unions. The…
UK Nurses and Ambulance Workers Stage Largest Strike in NHS History
February 6, 2023
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Business & Marketseconomic policieseconomyindustrial actioninflationKeir StarmerNHSRishi SunakUKWorld
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US Money Supply Shrinks for First Time Since Fed Started Sharing Data
The U.S. money supply has contracted for the first time since the Federal Reserve started publishing this data in January 1960. According to the latest data presented by the Board of Governors of the Federal Reserve System, the M2 money-supply growth rate tumbled by 1.3 percent year over year in December, down from 0.01 percent…
US Money Supply Shrinks for 1st Time Since Fed Started Sharing Data
The U.S. money supply has contracted for the first time since the Federal Reserve started publishing the data in January 1960. According to the latest data presented by the Board of Governors of the Federal Reserve System, the M2 money-supply growth rate tumbled by 1.3 percent year-over-year in December 2022, down from 0.01 percent in…
Russia’s Sechin Says Europe No Longer Sets Urals Price
February 6, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyEuropeGold and CommoditiesIndiaMarketsOilRosneftRussiaWorld
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BENGALURU, India—Europe will no longer set the reference price for Russia’s flagship Urals crude, Igor Sechin, the CEO of Russia’s oil major Rosneft said on Monday, now Asia has emerged as the largest buyer of Russian oil since the West placed it under sanctions. Around 70 percent of January-loading cargoes of Russian Urals oil is…
Wall Street Opens Lower on Fed Fears; Tyson Foods Slides
U.S. stock indexes edged lower on Monday with Tyson Foods falling on disappointing quarterly results, while investors re-assessed their predictions on when the U.S. Federal Reserve would start cutting rates. The Dow Jones Industrial Average fell 51.57 points, or 0.15 percent, at the open to 33,874.44. The S&P 500 opened lower by 16.91 points, or…
Nestle to Hike Food Prices Further in 2023, CEO Says
February 6, 2023
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Business & MarketsCompanieseconomic policieseconomyEuropeinflationInternationalMarketsNestlepricesWorld
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Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper. The increases will not be as steep as they were in 2022, but “we have some catching up to…
Dollar Surges on Robust US Jobs Data, While Lira, Yen Slump
LONDON—The dollar surged to a three-week high against the euro on Monday, with traders expecting the U.S. Federal Reserve to lift its benchmark rate above 5 percent to squeeze inflation after data showed the labor market remains strong. An earthquake in central Turkey and northwest Syria and a strong U.S. dollar added pressure on emerging…
Oil Prices Edge Higher, Interest Rate Outlook Limits Gains
February 6, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices inched higher on Monday, recovering from an 8 percent fall last week to more than three-week lows, driven by expectations slower growth in major economies may limit fuel use. Brent crude futures rose 17 cents, or 0.2, to $80.11 a barrel at 0946 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped…
Global Shares Slide as Interest-Rate Risk Rises and Geopolitics Heat Up
February 6, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares tumbled on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger dollar and political turbulence hit risk-linked assets. Last week’s blockbuster U.S. jobs report sent investors scurrying to load up on dollars to the detriment of emerging market…
Push to Wind up Company Behind Failed Plastic Recycling Scheme
February 6, 2023
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AustraliaBusiness & MarketsCompanieseconomic policiesInternationalNew South WalesRecyclingREDCycleWorld
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An Australian court will be asked to wind up the company behind a soft plastics recycling scheme that’s left mountains of waste across the country. Authorities have discovered more than 30 stockpiles of plastic across Victoria, New South Wales (NSW), and South Australia after the REDCycle scheme was paused last year. Efforts are now underway…
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