TOKYO—Japan’s economy unexpectedly shrank for the first time in a year in the third quarter, stoking further uncertainty about the outlook as global recession risks, a weak yen and higher import costs took a toll on household consumption and businesses. The world’s third-biggest economy has struggled to motor on despite the recent lifting of COVID-19…
Japan’s Economy Unexpectedly Shrinks as Hot Inflation, Global Slowdown Take Toll
Euro, Sterling, Swedish Crown Surge Amid Slew of Data, German ZEW
LONDON—The euro, sterling, and Swedish crown rose against the U.S. dollar on Tuesday as traders assessed a slew of economic data, including UK and eurozone job figures plus German economic sentiment. Sterling rose 0.6 percent to $1.1830, trading not far from a 2–1/2-month top at $1.1855 from Friday ahead of a tough government budget plan…
Oil Falls by Over $1 a Barrel on Chinese Demand Concerns
November 15, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell by more than $1 a barrel on Tuesday as rising COVID-19 cases in China renewed fears of lower fuel consumption from the world’s top crude importer. Brent crude futures fell $1.07, or 1.15 percent, to $92.07 a barrel by 1005 GMT after settling 3 percent lower on Monday. U.S. West Texas Intermediate…
Global Stocks Higher After US, Chinese Presidents Meet
November 15, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—Global stocks gained Tuesday after Wall Street gave back some of last week’s huge gains, the American and Chinese presidents met and China’s consumer spending shrank in a sign its economy is weakening. Frankfurt, Shanghai, Tokyo, and Hong Kong advanced, London was little changed while oil prices declined. Wall Street futures were higher, suggesting the…
Transportation Dept. Demands 6 Airlines Pay Over $600 Million in Refunds to Passengers
The U.S. Department of Transportation (DOT) on Nov. 14 announced “historic enforcement actions” against six airlines that have collectively been fined more than half a billion dollars for passengers who were owed a refund because of flight cancellations or changes. Frontier, Aeromexico, Air India, TAP Portugal, El Al, and Avianca were required to pay about…
Goldman Sachs Sees Significant Decline in US Inflation Next Year
November 15, 2022
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Business & Marketseconomic policieseconomyFederal ReserveGoldman Sachsinflationinterest rate hikeInvestmentMarketsrecessionUS
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Economists at Goldman Sachs Group (GSG) are predicting that the present surge in U.S. inflation will significantly decline in 2023. A team led by Goldman Sachs’ chief economist, Jan Hatzius, said that this would be led by three key factors: an ease in the supply chain crisis, a drop in housing prices, and slower wage…
ESG Endangering America’s Farms and Your Food: State Treasurers
November 14, 2022
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agricultureBusiness & Marketscongressconstitutional rightsDefending Americaeconomic policieseconomyenergyEnvironmentESGfarmFeatured TopicsFederal-State RelationsfertilizerGold and CommoditiesinflationInvestmentMarketsPolicies & ImpactsPoliticsRepublicansSciencestocksUSUS News
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The latest threat to farming can be identified in three familiar letters. State treasurers at the State Financial Officers Foundation (SFOF) told The Epoch Times on Nov. 14 that the United States’ agricultural base could be jeopardized by the top-down push for environmental, social, and corporate governance (ESG) scoring. “It’s a real threat,” Nebraska State…
Yellen Says Some Russia Sanctions Could Remain Even If Ukraine War Ends
November 14, 2022
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Business & MarketsDemocratseconomic policieseconomyEuropeExecutive BranchG-20 summitJanet YellenNational SecurityPolicies & ImpactsPoliticsRussia-Ukraine WarRussian sanctionsUSUS NewsWorld
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U.S. Treasury Secretary Janet Yellen announced that some sanctions on Russia would likely remain in place even if the war in Ukraine ends. Yellen, who is attending the annual G-20 summit in Bali, Indonesia, said that any eventual peace agreement would generally involve a review of the sanctions that the United States and its allies have imposed…
IMF Says Global Economic Outlook Getting ‘Gloomier’, Risks Abound
WASHINGTON—The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions and…
Wall Street Opens Lower After Hawkish Fed Comments
Wall Street’s main indexes opened lower on Monday after hawkish comments from a U.S. Federal Reserve official tempered hopes of the central bank toning down its aggressive monetary policy approach. The Dow Jones Industrial Average fell 85.8 points, or 0.25 percent, at the open to 33662.05. The S&P 500 fell 15.0 points, or 0.37 percent,…
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