Tag: economic policies

Wall Street Opens Higher, Adding to Gains Made Last Week

January 9, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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NEW YORK—Stocks are opening higher on Wall Street, extending gains from last week when the market posted its first weekly gain in five weeks. Energy stocks were among the biggest winners as crude oil prices rose about 3 percent. Technology stocks were also higher. Macy’s sank after tempering its sales forecast for its current quarter…

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Trade Unions and UK Government Hold Talks in Bid to End NHS, Rail, and Teachers’ Strikes

January 9, 2023
Business & Marketseconomic policieseconomyNHSRailstrikesteachersUKWorld
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Government ministers have been meeting the leaders of three separate trade unions in an effort to bring to an end some of the industrial action which has caused disruption all over Britain. Health Secretary Steve Barclay met leaders of the Royal College of Nursing (RCN) and other unions in London about pay demands in the…

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Dollar Hovers Near 7-Month Lows After Jobs Data

January 9, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The U.S. dollar on Monday neared its lowest point in seven months against other major currencies after data suggested the Federal Reserve could slow the pace of its rate hikes, while China reopening its borders boosted riskier currencies. China’s offshore yuan neared its highest in five months against the U.S. dollar, while the Australian and…

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Oil Jumps 3 Percent on Demand Optimism as China Borders Reopen

January 9, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil extended gains on Monday, rising about 3 percent after China’s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to…

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World Shares Up, Extending Wall Street Gains as US Wages Slow

January 9, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—World shares were mostly higher Monday following last week’s rally on Wall Street, where investors bet that slow U.S. wage gains may augur a cooling of the inflation that has led the Federal Reserve to hike interest rates. In Europe, Germany’s DAX gained 0.3 percent to 14,647.16 and the CAC 40 in Paris edged less…

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‘Well-Designed’: Review Defends Australia’s Carbon Offset Scheme

January 9, 2023
AustraliaBusiness & MarketsChris Bowenclimate changeeconomic policiesenergyInternationalnet zeroWorld
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Australia’s carbon credit trading scheme, oft-accused of harbouring businesses attempting to circumvent environmental obligations, has been given the tick of approval by an independent review. A six-month review led by scientist Ian Chubb, as well as three other leading scientists, said the scheme had been working effectively after 11 years of operation. Carbon trading puts…

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Plunging Australian Home Values Break 40-year Record

January 9, 2023
AustraliaBusiness & Marketseconomic policieseconomymortgage interest ratespersonal financeReserve Bank of AustraliaWorld
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The Reserve Bank’s aggressive rate-hiking cycle has triggered the housing market’s biggest decline in more than four decades. The 8.4 percent drop between May 2022 and January 2023 is the deepest peak-to-trough fall on CoreLogic’s records, which go back to 1980. It surpasses the previous record-breaking slide between 2017 and 2019, as well as the…

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Australian Borrowers Should Prepare for More Mortgage Stress in 2023: Lending Experts

January 8, 2023
AustraliaBusiness & Marketseconomic policieseconomyinflationmortgagepersonal financeReserve Bank of AustraliaWorld
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Lending and mortgage experts have warned Australian borrowers to prepare for steeper interest rate hikes, and more mortgage stress in 2023 as many homeowners have shown signs of struggling. Australian mortgagors had a tough year in 2022 as they witnessed the Reserve Bank of Australia (RBA) lifting the official cash rate from the historic low…

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State Opposition Locks Horns With Government Over Housing Affordability

January 8, 2023
AustraliaBusiness & MarketsChris Minnseconomic policiesGlobal Real EstateNew South Walesreal estateWorld
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Housing affordability has become the next political battleground in Australia’s most populous state as the state Labor Party offers to cut stamp duty (a one-off tax to the government) for 46,000 first-home buyers. New home buyers around the country have struggled to keep up with rising property prices over the last decade; and while there…

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Is the Fed Trying to Wean Markets Off Monetary Policy?

January 7, 2023
Business & MarketsBusiness Columnistseconomic policieseconomyFedinflationMarketsMonetaryOpinionPolicyrecessionUSUS NewsViewpoints
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Commentary Is the Fed trying to wean the markets off monetary policy? Such was an interesting premise from former British diplomat Alastair Crooke via the Strategic Culture Foundation, to wit: “The Fed however, may be attempting to implement a contrarian, controlled demolition of the U.S. bubble-economy through interest rate increases. The rate rises will not slay…

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