A record 36 million people in Britain now live in households that receive more benefits from the state—including free education and health care—than they contribute in tax, according to a report by the think tank Civitas. Civitas analysed data from the Office of National Statistics (ONS) from 2020/21 and found 54.2 percent of individuals were…
Levels of Dependency on the State Have Reached Record Levels, Says UK Think Tank
Businesses See Lower Odds US in or Entering Recession, NABE Says
The likelihood that the United States is already in recession or will fall into one this year has dropped over the past three months to 56 percent from a nearly two-thirds possibility, according to a survey on business conditions released on Monday. Approximately 53 percent of those polled by the National Association of Business Economics…
Global Oil Markets Facing Uncertainties With EU Moving Away From Crucial Russian Diesel Supplies
January 23, 2023
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Business & Marketsdieseleconomic policieseconomyenergyEuropeEuropean UnioninflationOiloil marketsRussiaWorld
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Oil markets are bracing for a new period of supply tensions as the European Union is set to cut off ties with its largest external diesel supplier when sanctions against Russian-refined fuel imports come into effect in February. Diesel supplies are already running tight, leading to pump prices being higher than gasoline in many regions….
Lab-Grown Meat, Bugs, and Plants: World Economic Forum’s Solution to the Global Food Shortage
January 23, 2023
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Business & MarketsCompaniesDavoseconomic policiesInternationallab-grown meatWorldWorld Economic Forum (WEF)
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Climate change and the Earth’s burgeoning population are endangering the nutritional security of many populations, stated the World Economic Forum (WEF) in an article released on Jan. 17. The organization remains optimistic, however, offering dietary solutions like plant-based meat alternatives, insects, and “meat cultivated directly from animal cells.” Global food systems accounted for 34 percent…
Wall Street Edges Up Ahead of Busy Earnings Week, Salesforce Rises
U.S. stock indexes opened higher at the start of another big week for corporate earnings, with Salesforce leading gains on Monday following news that Elliott Management had acquired a stake. The Dow Jones Industrial Average rose 64.07 points, or 0.19 percent, at the open to 33,439.56. The S&P 500 opened higher by 5.53 points, or…
Japan Warns of Dire Finances as BOJ Struggles to Contain Yields
TOKYO—Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt. The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan’s (BOJ)…
Euro Scales 9-month Peak as ECB Hawks Let Fly
LONDON—The euro hit a nine-month peak against the dollar on Monday as comments on European interest rates signaling additional jumbo rate rises contrasted with market pricing for a less aggressive Federal Reserve. The euro reached as high as $1.0927, breaking the recent peak of $1.08875, to trade at its highest level since April last year….
Brazil, Argentina Holding Talks Over Possible Common Currency
Brazil and Argentina plan to advance talks about a common currency for financial and commercial transactions in an effort to improve economic integration, leaders of the two nations said on Jan. 21. Brazilian President Luiz Inacio Lula da Silva, who was sworn in on Jan. 1, and Argentine leader Alberto Fernandez shared details about the talks regarding…
World Shares Up, Many Asia Markets Closed for Lunar New Year
January 23, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were higher Monday in Europe and in Asia, where most markets were closed for the Lunar New Year holiday. Germany’s DAX edged 0.1 percent higher, to 15,058.49 while the CAC 40 in Paris also gained 0.1 percent to 7,002.30. Britain’s FTSE 100 added 0.2 percent to 7,786.30. The future for the S&P 500 lost…
Australian Treasurer Hopes Inflation Situation Will Ease in 2023
Australian Treasurer Jim Chalmers is hoping that inflation will lose steam in 2023 after reaching its peak in the December quarter of 2022. Ahead of the release of the December quarterly inflation figures, the treasurer said he hoped to see a drop in the inflation rate. In the 2022 September quarter, the Australian inflation rate…
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