Tag: Economies

‘Stand up to BlackRock Like You Did to China’: Former Senator Calls on Australian PM

The Australian prime minister should resist pressure from overseas investments giants—like BlackRock—on climate change action, in the same way, the federal government resisted the Chinese Communist Party’s (CCP) economic coercion. Ron Boswell, former National Party senator, said moves by business and political leaders in the United Kingdom (UK), United States, and European Union (EU) to…


London’s Financial Workers Flock Back to Office in Hot Commuter Crush

LONDON—There’s no free lunch in finance—except when banks are wooing workers back to the office. London’s financial sector, keen to return to a semblance of normality after the worst of the pandemic, is leading the charge to encourage employees back to their old lives, with some companies even offering free food and social events. It…


Lowe’s Says Inventory in Better Position in Months Amid Supply-Chain Snafu

Lowe’s Cos Inc. said on Thursday it was bringing holiday products into its stores and warehouses earlier than originally planned, as supply chain bottlenecks threaten to leave U.S. stores with empty shelves during the holiday season. U.S. retailers have been scrambling to stock their racks and have enough inventory to ensure key items are not…


Bank of Canada Signals It May Stop Adding Stimulus to Economy Soon

OTTAWA—The Canadian economy is moving closer to the point where the Bank of Canada will no longer need to continue adding stimulus to the economy through its quantitative easing (QE) program, but it is not there yet, Governor Tiff Macklem said on Thursday. Macklem, in a speech the day after the central bank held its…


ECB Trims Emergency Support—but Don’t Call It Tapering

FRANKFURT—The European Central Bank will trim emergency bond purchases over the coming quarter, it said on Thursday, taking a first small step towards unwinding the emergency aid that has propped up the euro zone economy during the coronavirus pandemic. After the ECB pulled out all the stops last year as COVID-19 ravaged the economy, high…


Ford to Stop Making Cars in India, Take $2 Billion Hit

NEW DELHI—Ford Motor Co. will stop making cars in India and take a hit of about $2 billion because it does not see a path to profitability in the country, becoming the latest automaker to leave the major growth market dominated by Asian rivals. The U.S. carmaker entered India 25 years ago but still has…


Jobless Claims Fall to New Pandemic-Era Low, Market Reaction Mixed

The Labor Department announced on Sept. 9 that the number of American workers who filed for unemployment last week hit a fresh pandemic-era low, giving an immediate upward jolt to risk assets like stocks and cryptocurrencies, followed by pullbacks as investors mulled mixed signals around the state of the economy. First-time filings for unemployment insurance—a…


Wall Street Powers Higher as Jobless Claims Fall to New Pandemic-Era Low

The Labor Department announced on Sept. 9 that the number of American workers who filed for unemployment last week hit a fresh pandemic-era low, with the labor market recovery signal giving an immediate boost to risk assets like stocks and cryptocurrencies. First-time filings for unemployment insurance—a proxy for layoffs—came in at 310,000 for the week…


Furlough Total in UK Falls to New Low as Many Return to Work

LONDON—The number of workers still on furlough in Britain has fallen to its lowest level since a salary support program was first introduced at the outset of the coronavirus pandemic 18 months ago, official figures showed Thursday. HM Revenue and Custom, which compiles the data, said that 1.6 million people remained on the government’s support…


China’s Factory Inflation Hits 13-year High as Materials Costs Soar

BEIJING—China’s factory gate inflation hit a 13-year high in August driven by roaring raw materials prices despite Beijing’s attempts to cool them, putting more pressure on manufacturers in the world’s second-largest economy. The producer price index (PPI) rose 9.5 percent from a year earlier in August, the National Bureau of Statistics (NBS) said on Thursday,…