WASHINGTON—The Democratic architects of a key overhaul of U.S. financial regulation a decade ago called on President Joe Biden to reappoint Fed Chair Jerome Powell to a second term, rebuffing arguments he has been weak on regulatory issues. Former Sen. Christopher Dodd and former Rep. Barney Frank wrote in an opinion article in The Hill …
Dodd-Frank Architects Call for Reappointment of Fed’s Powell
September 15, 2021
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Barney FrankBusiness & EconomyChristopher DoddEconomieseconomyExecutive Branchfinancial crisisleadershipPoliticsUSUS News
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UK Employee Numbers Bounce Back to Pre-Pandemic Levels
Employee numbers in Britain have bounced back to pre-pandemic levels as the economic recovery continues, the UK’s Office for National Statistics (ONS) revealed on Tuesday. Employment was hit hard during the pandemic, but has shown signs of recovery since the end of 2020. The number of UK workers on payrolls rose by 241,000 to 29.1…
Airbus CEO Says Supply Chain Is in ‘Difficult Spot’
MONTREAL—Airbus is seeing mounting pressure on the aerospace supply chain and managing the problem is key to the industry’s recovery, the head of the European planemaker said on Tuesday. “We really see that the supply chain is in a much more difficult spot than it was before,” Chief Executive Guillaume Faury told the Conference of…
Consumer Price Hikes Soften in August, Annual Inflation Stays Stubbornly High
The pace of consumer price inflation fell in August to its lowest monthly level since February, though the 12-month rate of inflation remained historically high, a new government report shows. The consumer price index (CPI) rose 0.3 percent in August from July, the Labor Department said in a Sept. 14 report, with consensus forecasts predicting a slightly…
Australian Home Prices Jump Record 6.7 Percent in Q2
SYDNEY—Prices for Australian residential properties in the major cities climbed a record 6.7 percent in the June quarter versus the previous quarter amid super-low borrowing costs and strong demand for work-at-home property. Data out on Tuesday from the Australian Bureau of Statistics showed gains across the country, led by an 8.2 percent jump in Canberra…
Small-Business Optimism About Future Conditions Falls to 8-Year Low, Hiring Difficulties Hit 48-Year High
Overall optimism among small-business owners ticked up slightly in August, although the level of confidence in the six-months-ahead outlook for business conditions fell to an eight-year low while hiring difficulties hit a 48-year high, a new report shows. The so-called optimism index edged up by 0.4 percentage points to 100.1 in August from July, according…
Europe’s Gas Shortage Could See Rest of World Paying Larger Heating Bills This Winter: Experts
September 14, 2021
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Business & EconomyEconomiesEuropeHurricane IdaInternationalliquefied natural gasNatural gasRussiaWorld
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Europe’s record low supply of natural gas could see the rest of the world paying larger heating bills in an effort to stay warm this winter, experts warn. Natural gas prices have risen more than 35 percent in the past month amid lower supplies and a surge in demand as pandemic-hit economies around the world reopen,…
ECB’s Weidmann Wants Digital Euro to Start Small
FRANKFURT—A digital euro, currently under design by the European Central Bank, should have a limited role initially as it could disrupt the bank sector and overly extend the role of central banking, Bundesbank President Jens Weidmann said on Tuesday. “A gradual approach might make sense given the risks involved—that means a digital euro with a…
US SEC Chair Wants Private Fund Fee Disclosures, Bond Market Transparency: Testimony
September 14, 2021
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Business & EconomyCompaniesDisclosuresEconomieseconomyfundgary genslermarketMarketsprivateregulatorsecuritiestransparencyUSUS News
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WASHINGTON—The chair of the top U.S. securities regulator wants private funds to disclose more information to investors about potential conflicts of interest and the fees they charge, according to congressional testimony published Monday evening. Gary Gensler, chair of the Securities and Exchange Commission (SEC), also wants to impose greater transparency on the corporate bond, municipal…
Over Two-Thirds of Businesses Worldwide Report Hiring Difficulties
A new survey of nearly 45,000 employers in dozens of countries showed that 69 percent of businesses reported having a hard time finding workers, a 15-year high for the second consecutive quarter. The survey, carried out by employment services provider ManpowerGroup, found that over two-thirds of employers in 43 countries said finding skilled talent remains a…
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