TOKYO/LONDON—The dollar on Wednesday traded just above multi-month lows against most majors as flows that had supported the safe-haven currency slowed after Joe Biden said a missile that caused an explosion in Poland may not have been fired from Russia. NATO-member Poland and Ukraine said on Tuesday the blast that killed two on the Polish…
Oil Prices Up After Incident Involving Vessel Off Oman Coast
November 16, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Wednesday, erasing earlier losses, after an incident involving a commercial vessel off the coast of Oman, but rising COVID-19 cases in China capped gains. Brent crude futures gained 65 cents, or 0.7 percent, to $94.51 a barrel by 0854 GMT, and U.S. West Texas Intermediate (WTI) crude futures rose 35 cents,…
Stocks Pare Losses, Dollar Falls After Biden Defuses Tensions Over Poland Blast
November 16, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks pared losses and the dollar fell on Wednesday after U.S. President Joe Biden told G7 and NATO partners that a missile blast in Poland was caused by a Ukrainian defense missile, dispelling fears that it originated from Russia. Initial relief among investors was enough to encourage some flows back into equities and commodities,…
Australia Latest Country to Join Global Offshore Wind Alliance
November 15, 2022
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Asia & PacificAustraliaBusiness & Marketseconomic policiesenergyInternationalwind turbinewind turbinesWorld
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Australia is the latest country to join the Global Offshore Wind Alliance, which plans to ramp up the development of the world’s wind power industry. Together governments and companies aim to create at least 380 gigawatts of global offshore wind capacity by 2030 through knowledge-sharing and opening up new development sites for turbines. “Australia is…
Household Debt Sees Biggest Jump In 15 Years As Americans Rely More On Credit Amid Soaring Inflation
November 15, 2022
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Business & Marketscredit cardeconomic policieseconomyhousehold debtinflationMarketsNew York Federal Reservepersonal financePolicies & ImpactsUS
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American households saw their debt jump the most in 15 years in the third quarter, due to a surge in credit card use and mortgage balances. Debt accumulated during that period shot up by $351 billion for the largest quarterly increase since 2007, according to the Federal Reserve Bank of New York on Nov. 15….
ESG Warps Capitalism to Force ‘Globalist Agenda’: Utah Treasurer
November 15, 2022
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Business & MarketsCompaniescongressDemocratseconomic policieseconomyenergyEnvironmentESGfiduciary dutyInvestmentMarketsMarlo OaksMedia & Big TechPolicies & ImpactsPoliticsRepublicansSciencestocksUSUtah
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In a Nov. 14 interview, Utah’s treasurer Marlo Oaks told The Epoch Times that environmental, social, and corporate governance (ESG) criteria are being used as a political tool, spurring a response from Utah and various other states worried about its consequences. Oaks and a number of other Republican state treasurers had gathered for the national…
What’s Fueling the Rise of ESG Investing?
November 15, 2022
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Business & MarketsBusiness Columnistseconomic policieseconomyESG investingFederalist SocietyInvestmentUS
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News Analysis Environmental, social, and corporate governance (ESG) investing has not only become a popular investment trend but also a new front in the culture wars. Market predictions show that global ESG-mandated assets will reach $55 trillion in 2022 and close to $100 trillion in 2025. But has the recent spike in ESG investing driven…
Japan to Reopen to Cruise Ships After 2 1/2-Year Ban
TOKYO—Japan will lift a more than 2 1/2-year ban on international cruise ships that was imposed following a deadly coronavirus outbreak on the cruise ship Diamond Princess at the beginning of the pandemic, transport officials said Tuesday. The Transport Ministry said cruise ship operators and port authorities’ associations have adopted anti-virus guidelines and that Japan…
Fed May Slow Pace of Rate Hikes Soon: Brainard
The Federal Reserve will likely soon slow its interest rates hikes, Fed Vice Chair Lael Brainard signaled on Monday, as the U.S. central bank tries to figure out how high borrowing costs need to go and how long they should stay there to bring down inflation. “I think it will probably be appropriate soon to…
Fed Data Show Increased Inflation Expectations and Deteriorating Unemployment Expectations
Inflation expectations among Americans have risen for the short, medium, and longer terms, while their unemployment expectations reached the highest level since April 2020, according to the October 2022 Survey of Consumer Expectations by the Federal Reserve Bank of New York. “Median inflation expectations increased at both the one- and three-year-ahead horizons in October, by…
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