Tag: Economies

Bank of England Will Have to Act to Contain Inflation: Bailey

October 18, 2021
Andrew BaileybankBoEBusiness & EconomyCompaniesEconomiesEnglandinflationUKWorld
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LONDON—Bank of England Governor Andrew Bailey sent a fresh signal on Sunday that the British central bank is gearing up to raise interest rates for the first time since the onset of the coronavirus crisis as inflation risks mount. Bailey said he continued to believe that the recent jump in inflation would be temporary, but…

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French Luxury Goods Groups’ Shares Hit by Weak Chinese Data

October 18, 2021
Business & EconomyChinaChina Business & EconomyChineseCompaniesdataEconomiesEuropeFrenchgoodsLuxuryMarketsSharesWorld
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PARIS—Shares in French luxury goods companies LVMH and Kering fell on Monday after weak economic numbers from China, a leading market for many of the world’s top fashion companies. Kering was down 1.7 percent in early trading while LVMH retreated by 1.3 percent. Rival French luxury goods company Hermes also fell 1.2 percent. China’s economy…

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Futures Edge Lower Ahead of Earnings, Inflation Worries Persist

October 18, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesearningsEconomieseconomyfuturesinflationInternationalInvestmentLocal NewsMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsUSUS NewsWorld
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U.S. stock index futures edged lower on Monday, led by technology shares, ahead of a slate of earnings reports this week, while a relentless surge in oil prices fueled concerns about elevated inflation. Facebook Inc., Google-parent Alphabet, Microsoft Corp., Amazon.com Inc., Intel Corp., and Advanced Micro Devices Inc. slipped between 0.1 percent and 0.7 percent….

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Bitcoin Hovers Near 6-Month High on ETF Hopes, Inflation Worries

October 18, 2021
bitcoinBusiness & EconomyCompaniesEconomieseconomyHighinflationInternationalInvestmentMarketsUSWorldworries
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TOKYO—Bitcoin hovered near six-month highs on Monday in anticipation of the listing of the first futures-based bitcoin exchange-traded funds (ETF) in the United States, which investors hope will boost cryptocurrency trading volumes. If the U.S. Securities and Exchange Commission (SEC) does not object, the ProShares Bitcoin Strategy ETF completes a 75-day period since the fund…

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Oil Prices Climb as COVID-19 Recovery, Power Generators Stoke Demand

October 18, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesCOVID-19EconomieseconomygeneratorsInternationalInvestmentLocal NewsMarketsMiddle EastOilpowerRecoveryRegional-Local NewsTexasUKUSUS NewsWorld
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LONDON—Oil prices hit multi-year highs on Monday buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation. Brent crude oil futures were up 59 cents, or 0.7 percent, to $85.45 a barrel by 0900 GMT, after hitting $86.04, their highest level since…

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European Stocks Fall as Luxury Stocks Feel Pain From China’s Woes

October 18, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesEconomiesEuropeEuropeanInternationalInvestmentLuxuryMarket WatchMarketsstocksUKWorld
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European shares fell on Monday after weaker-than-expected growth data from China hit luxury stocks, while a relentless surge in commodity prices fuelled worries about inflation spiralling out of control. The pan-European STOXX 600 index fell 0.5 percent after an upbeat start to the quarterly earnings season drove its strongest weekly performance since March on Friday….

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World Shares Mostly Lower as Chinese Growth Data Disappoints

October 18, 2021
Asia & PacificAustraliaBusiness & EconomyChinaChina Business & EconomyChineseCompaniesdataEconomieseconomyEuropegrowthHK BusinessHong KongInternationalInvestmentLocal NewslowerMarket WatchMarketsNew YorkNY NewsRegional-Local NewsSharesTexasUKUSUS NewsWorld
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World shares were mostly lower on Monday after China reported its economy grew at a meager 4.9 percent annual pace in July-September. Germany’s DAX declined 0.5 percent to 15,506.11 and the CAC 40 in Paris gave up 0.8 percent to 6,676.21. Britain’s FTSE 100 lost 0.2 percent to 7,216.79. The future for the Dow industrials…

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Australian Coal Giant Pivots to Asia as Climate Activism Strangles Domestic Funding

October 18, 2021
Asia & PacificAustraliaBlackRockBusiness & Economyclimate changeCompaniesEconomiesInternationalWorld
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One of Australia’s largest coal miners is planning to raise $1 billion (US$740 million) through the sale of bonds in China and Asia amid increasing financial pressures locally due to climate change activism. Kevin Ball, the chief financial officer of Whitehaven Coal—which operates four coal mines in northwest New South Wales (NSW)—said Asian debt capital…

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Germany Slashes Energy Surcharge to Help Consumers Weather Soaring Prices

October 18, 2021
Business & EconomyEconomiesenergyEnvironmentEuropeGasGermanyrenewableScienceWorld
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FRANKFURT—Germany will cut a power surcharge levied on consumers to support renewable energy by 42.7 percent to help households cope with soaring energy prices, network operators said on Friday. Germany and other governments in Europe are seeking to provide relief for consumers as gas prices skyrocket. The reduction in the German levy, to 3.723 euro…

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China Q3 GDP Growth Hits 1-Year Low, Raising Heat on Policymakers

October 17, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyEconomiesevergrandeWorld
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BEIJING—China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks, and sporadic COVID-19 outbreaks, raising heat on policymakers amid rising jitters over the property sector. Data released on Monday showed gross domestic product (GDP) grew 4.9 percent in July-September, the weakest pace since the third…

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