Millions of Americans could face a “refund shock” when they file their taxes next year because a number of pandemic-related programs are set to expire or have expired, said an analyst. Data from the Internal Revenue Service (IRS) shows that the average refund taxpayers got back for their 2021 taxes was about $3,200, or some…
EU’s Gas Price Cap Scheme Could Backfire, Raise Volatility: ECB
December 9, 2022
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Business & MarketsECBeconomic policieseconomyenergyEUEuropeGasGold and CommoditiesinflationMarketsRussia-Ukraine WarWorld
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FRANKFURT—Proposed European Union rules aimed at tempering natural gas price spikes may actually jeopardize financial stability and need to be redesigned, the European Central Bank said on Thursday in a formal opinion. The EU proposed a “market correction mechanism” last month aimed at tempering natural gas prices and market volatility after a spike in energy…
Wall Street Slips as Inflation Remains Hotter Than Expected
NEW YORK—Stocks are slipping on Wall Street after a report showed inflation is still hotter than expected, even though it is slowing. The S&P 500 was 0.3 percent lower and on pace for its sixth loss in the last seven days. The trigger was data showing prices at the wholesale level were 7.4 percent higher…
Dollar Dips Ahead of US Inflation Data, Fed Meeting Next Week
LONDON—The dollar edged lower against major currencies on Friday as concerns resurfaced about the health of the U.S. economy, and ahead of producer inflation data later in the day and a Federal Reserve meeting on interest rates next week. After a lull in market-moving news, investors are looking towards rate decisions next week—including from the…
Oil Set for 10 Percent Weekly Drop as Demand Worries Dominate
December 9, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe, and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low this week. U.S. West Texas…
World Shares Higher Ahead of US Inflation Update
December 9, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were higher in Europe and Asia ahead of an update Friday on U.S. wholesale prices that will provide insights into how businesses are coping with inflation. Germany’s DAX added 0.2 percent to 14,295.30 while the CAC 40 in Paris was nearly unchanged at 6,649.30. Britain’s FTSE 100 also was little changed, gaining less than…
Vanguard Drops Out of Climate Initiative as Reaction Against Woke ‘ESG’ Investing Continues
Investment firm Vanguard Inc. has announced that it’s pulling out from a major climate initiative as the company faces increasing pressure for its policy of using environmental, social, and governance (ESG) factors while investing in securities. In 2021, Vanguard joined the Net Zero Asset Managers initiative (NZAM), which aims to push the asset management industry…
LIVE 2:15 PM ET: President Biden Delivers Remarks on Building a Stronger Economy for Union Workers and Retirees
December 8, 2022
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Biden delivers remarksBusiness & Marketseconomic policieseconomyEpochTVEpochTV LiveLive VideosPoliticsUSUS NewsVideo
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President Joe Biden delivers remarks at the White House on building a stronger economy for Union workers and retirees. Watch this event live on Epoch TV on Dec. 8. * Click the “Save” button below the video to access it later on “My List.” Follow EpochTV on social media: Twitter: https://twitter.com/EpochTVus Rumble: https://rumble.com/c/EpochTV Truth Social:…
President Biden Delivers Remarks on Building a Stronger Economy for Union Workers and Retirees
December 8, 2022
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Biden delivers remarksBusiness & Marketseconomic policieseconomyEpochTVEpochTV LiveLive VideosPoliticsUSUS NewsVideo
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President Joe Biden delivers remarks at the White House on building a stronger economy for Union workers and retirees. Watch this event live on Epoch TV on Dec. 8. * Click the “Save” button below the video to access it later on “My List.” Follow EpochTV on social media: Twitter: https://twitter.com/EpochTVus Rumble: https://rumble.com/c/EpochTV Truth Social:…
UK Border Force Strikes Threaten ‘Serious’ Travel Chaos Over Christmas
The planned strikes by Border Force staff at UK airports would cause “undeniable, serious disruption” and people should “think carefully” about their Christmas travel plans, Home Secretary Suella Braverman has warned. The Public and Commercial Services (PCS) union announced on Dec. 7 that its members working at Gatwick, Heathrow, Manchester, Birmingham, and Cardiff airports will…
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