Tag: Economies

Fed’s Williams Says Inflation Expectations Well-Anchored but ‘Great Deal’ of Uncertainty Remains

September 28, 2021
Business & EconomyEconomieseconomyFederal Reserveinflation expectationsMarketsrising pricesUSUS News
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New York Federal Reserve Bank President John Williams on Monday said that expectations for future rates of inflation remain well-anchored around the Fed’s 2 percent objective, though he acknowledged upside risks and the persistence of a “great deal of uncertainty” around the inflationary outlook. Williams made the remarks via video call on Sept. 27 at…

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Central Bank Digital Currencies Can Slash Cross Border Payment Time: BIS

September 28, 2021
Asia & PacificbanksBISborderBusiness & EconomycentralChinaChina Business & EconomyCompaniesCurrenciedigitalEconomiesEuropeHK BusinessHong KongInternationalpaymentWorld
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HONG KONG—Central bank digital currencies (CBDCs) can slash the time needed for cross border payments to seconds from days and cut costs, the Bank of International Settlements (BIS) said, citing a pilot scheme to test the digital forms of fiat currencies. The trial showed cross border transactions could be made in a few seconds, instead…

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German Consumer Morale Brightens Heading Into October: GfK

September 28, 2021
Business & EconomyconsumerEconomiesEuropeGermanGfKMoraleWorld
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BERLIN—The mood among German consumers brightened unexpectedly heading into October to reach its highest level in a year and a half, a survey showed on Tuesday, in a sign that households continue to support the recovery in Europe’s largest economy. The GfK institute said its consumer sentiment index, based on a survey of around 2,000…

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California Governor Signs Legislation Eliminating ‘Exploitative’ Piece Rate for Garment Industry Workers

September 28, 2021
Business & EconomyEconomiesgarment industryimmigrantLocal Newsmanufacturersminimum wageNorthern CaliforniaPolicyRegional-Local NewsSouthern CaliforniaUSUS News
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California has become the first U.S. state to eliminate paying garment workers by the piece or unit, and will instead pay them by the hour. Gov. Gavin Newsom on Monday signed Senate Bill 62, also known as the Garment Worker Protection Act, which creates new “nation-leading” policies that will end the practice that has prevented thousands of workers in…

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French Consumer Confidence Stronger Than Expected in September

September 28, 2021
Business & EconomyCompaniesconfidenceconsumerEconomiesEuropeFranceseptemberWorld
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PARIS—French consumer confidence improved more than expected in September as households’ concerns about unemployment eased, a monthly survey showed on Tuesday. The INSEE official statistics agency said its consumer confidence index rose to 102 from 99 in August, hitting its highest level since June. The improvement brought confidence back to pre-pandemic levels and beat the…

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Ford, South Korea to Invest $11.4 Billion to Add Electric F-150 Plant, Three Battery Factories

September 28, 2021
Asia & PacificbatteryBusiness & EconomyCompaniesEconomieseconomyelectricfactoriesFordLocal NewsMichiganRegional-Local NewsSouth KoreaTechTech NewsUSUS NewsWorld
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DETROIT/SEOUL—Ford Motor Co. and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker’s push into electric vehicles. Ford said on Monday it now expects to have 40 percent to 50 percent of its global vehicle…

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Fed Will Allow Labor Markets to ‘Run Their Course’: Bostic

September 28, 2021
Business & EconomyCompaniesEconomieseconomyFedlaborLocal NewsMarketsRaphael BosticRegional-Local NewsUSUS News
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Atlanta Federal Reserve Bank President Raphael Bostic on Monday reiterated the U.S. central bank’s commitment to making sure every American who wants a job can have one. “Without clear data demonstrating that an inflationary problem has arrived and is likely to last, we will allow labor markets to run their course, which can further our…

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Japan’s Aso Urges Joint Monetary, Fiscal Policies to Spur Inflation

September 28, 2021
Asia & PacificBusiness & EconomyEconomiesfiscalinflationJapanMonetaryPoliciesTaro AsoWorld
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TOKYO—Japanese Finance Minister Taro Aso called on Tuesday for a combination of monetary and fiscal policies to help boost inflation towards the Bank of Japan’s 2 percent inflation target, saying easy money policy has its limit. “We must utilise both monetary and fiscal policies” to bring inflation to a certain level, Aso told reporters after…

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Oil Climbs for Sixth Day on Supply Concerns, Brent Tops $80

September 28, 2021
Asia & PacificBrentBusiness & EconomyCompaniesconcernsEconomieseconomyEuropeInternationalMarketsOilsupplyUKUSWorld
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TOKYO—Oil markets climbed for a sixth day on Tuesday, reversing earlier losses, on fears over tight supply while surging prices of liquefied natural gas (LNG) and coal also lent support. Brent crude futures gained $1.05, or 1.3 percent, to $80.58 a barrel at 0645 GMT, after reaching its highest since October 2018 at $80.75 earlier…

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Shares Drop for Third Day, Yields Soar as Markets Brace for Rate Hikes

September 28, 2021
Asia & PacificBusiness & EconomyCompaniesdropEconomieseconomyEuropeInternationalInvestmentMarketsSharessoarUKUSWorldyields
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LONDON—Global shares fell for a third successive day on Tuesday, while bond yields on both sides of the Atlantic soared on anxiety over when central banks might raise interest rates. MSCI’s All Country World Index, which tracks shares across 49 countries, was down 0.3 percent on the day after the start of trading in Europe….

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