LONDON—EasyJet has rejected a takeover offer and will instead raise $1.7 billion from shareholders to strengthen its position in a European market struggling to recover from the COVID-19 pandemic, the British airline said on Thursday. The low-cost carrier did not identify its suitor, but said the all-share approach fundamentally undervalued its business and the potential…
Easy Money Policies to Continue Post-COVID: Japan’s Central Bank Chief
The head of Japan’s central bank told local outlet Nikkei on Sept. 8 that accommodative monetary policy would continue even after the pandemic subsides in a bid to hit a 2 percent inflation target, a goal that has been undershot for years. Haruhiko Kuroda, Governor of the Bank of Japan, said that the central bank’s…
Senior Democratic Economist Stiglitz Says Fed’s Powell Should Go
September 8, 2021
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Business & EconomydemocraticEconomieseconomisteconomyExecutive BranchFederal Reservejerome powellJoseph StiglitzNobelistPoliticsUSUS News
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WASHINGTON—For U.S. President Joe Biden to be true to his agenda he should not renominate Jerome Powell as Federal Reserve chair, Nobel prize-winning economist and longtime Democratic adviser Joseph Stiglitz said in an interview that laid out the case for a remake of the Fed’s leadership. “People have given Powell a lot of kudos because…
Job Openings Surge to Record High While Hiring Stays Flat
Job openings in the United States surged to a record high of more than 10 million on the last day of July, while hiring lagged behind that figure by over 4 million, painting a picture of an economic recovery held back by businesses struggling to fill vacant positions. The Labor Department’s Job Openings and Labor…
Mortgage Demand Drops to Two-Month Low: Mortgage Bankers Association
The number of applications for home mortgages dropped last week to the lowest level since mid-July, dampened by a decline in refinancing activity and, to a lesser extent, reduced purchase applications, according to the Mortgage Bankers Association (MBA). Total mortgage application volume fell 1.9 percent last week from the week prior, according to MBA’s composite index…
Mortgage Demand Drops to 2-Month Low: Mortgage Bankers Association
The number of applications for home mortgages dropped last week to the lowest level since mid-July, dampened by a decline in refinancing activity and, to a lesser extent, reduced purchase applications, according to the Mortgage Bankers Association (MBA). Total mortgage application volume fell 1.9 percent last week from the week prior, according to MBA’s composite index…
Amazon Hands £492 Million to UK Taxman From £20 Billion Revenue
Amazon handed £492 million ($678 million) to the UK taxman last year, from a total of £20 billion ($27 billion) in revenue, as the pandemic and lockdowns nitro-charged their online sales. Figures filed recently in Companies House show total revenues of £20.63 billion for the group in the UK during 2020, up from £13.73 billion ($18.93 billion)…
Inflation Could Prompt ECB to Tighten Policy Quicker, Holzmann Says
FRANKFURT—The European Central Bank could tighten policy sooner than many expect as inflationary pressures could prove to be persistent, ECB policymaker Robert Holzmann said in a contribution to Eurofi Magazine on Wednesday. The ECB, which meets on Thursday, has kept policy ultra-easy since the start of the coronavirus pandemic, and it promised an even longer…
Bitcoin Price Plummets on First Day as Legal Tender in El Salvador
September 8, 2021
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AmericasbitcoinBusiness & EconomyEconomiesEl SalvadorInvestmentMarket WatchMarketsTechTech NewsWorld
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Selling pressure continued to bear down on bitcoin on Wednesday after it suffered its heaviest losses in months a day earlier when El Salvador officially adopted the cryptocurrency as legal tender but got off to a rocky start. Bitcoin was trading at $45,798 on Coinbase at 5:09 a.m. New York time on Sept. 8, down…
Tesla a Bigger Financial Risk to Banks Than Climate Change: Prominent Economist
September 7, 2021
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AustraliaAustralia economyAustralian coalBusiness & Economyclimate changeCompaniesEconomiesInternationalteslaUSUS NewsWorld
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Claims that climate change poses a “risk” to the coal industry are “ludicrous,” according to a leading U.S. economist, who has warned Australian members of Parliament not to allow overseas institutions to dictate the country’s development. John Cochrane, a senior fellow at the Hoover Institution at Stanford University and author of “Asset Pricing,” a widely…
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