SYDNEY—Australian home lending in August expanded at its fastest annual pace since early 2018 as buyers borrowed ever more to get into a red-hot market, foreshadowing tougher rules from regulators concerned at the mounting risks to financial stability. Figures from the Reserve Bank of Australia (RBA) on Thursday showed outstanding home loans rose 0.6 percent…
Australian Housing Borrowing Booms, Regulators Ready New Lending Rules
Equity, Bond Funds See Inflows as Markets Hit Rough Patch: BOFA
LONDON—Global equity and bond funds saw modest inflows at the expense of cash and gold funds even as global markets hit a rough patch this week dominated by concerns about the U.S. debt ceiling and energy shortages in Europe and China, a weekly round-up by BofA showed on Friday. On a weekly basis, investors ploughed…
Canada’s Economy Seen Rebounding on Hospitality Sector Growth
OTTAWA—Canada’s economy likely rebounded in August from a slight contraction in July, buoyed by growth in the hospitality industry, though a withering drought will continue to drag on the important agriculture sector, data showed on Friday. The Canadian economy contracted 0.1 percent in July, just beating analyst estimates of a decline of 0.2 percent, but…
Wall Street Set to Open Higher on Bargain Hunting, Merck Boost
October 1, 2021
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Wall Street’s main indexes were set to rise on Friday as steep losses in September saw investors buying into cheaper sectors, while drugmaker Merck rose on marking progress in the development of an oral COVID-19 drug. Shares of Merck & Co. Inc. jumped 8.3 percent in premarket trading after the company’s experimental oral drug for…
Euro Zone Factory Growth Strong in September but Bottlenecks Bite
LONDON—Euro zone manufacturing growth remained strong in September but activity took a big hit from supply chain bottlenecks that are likely to persist and keep inflationary pressures high, a survey showed on Friday. Factories have struggled with logistical issues, product shortages and a labour crunch brought about in large part by ongoing disruptions caused by…
US Trade Chief Tai to Unveil Biden’s China Trade Strategy on Monday
October 1, 2021
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WASHINGTON—U.S. Trade Representative Katherine Tai will unveil the Biden administration’s long-awaited strategy for the troubled U.S.–China trade relationship in a speech on Monday at a Washington think tank, her office said. Tai will deliver remarks on her review of China trade policy at the Center for Strategic Studies in Washington and participate in a question-and-answer…
White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer
White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected. Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when,…
Dollar Set for Best Week Since June on Expected Fed Tightening
October 1, 2021
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LONDON—The dollar began the last quarter of 2021 near its highest levels of the year, and was headed for its best week since June as investors expected a hawkish-sounding Federal Reserve to lift U.S. interest rates sooner than its major peers. Cautious market sentiment due to COVID-19 concerns, wobbles in China’s growth, and a Washington…
Washington State’s Ban on Single-Use Plastic Bags Goes Into Effect With Penalties of up to $250
October 1, 2021
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A ban on single-use plastic bags intended to encourage customers to use their own reusable bags when shopping will go into effect Friday across Washington state. The ban passed the state Senate back in March 2019 and it was originally scheduled to begin on the first of this year but was delayed due supply chain issues during the…
Stocks Head Into Stormy October, Dollar Defies Ugly Mood
October 1, 2021
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LONDON—European stocks sank to two-month lows on Friday after slides in Asia and on Wall Street, with euro zone inflation data expected to hit a 13-year high to compound investor fears over surging prices combining with stuttering growth. On the first day of October, the month for some of history’s most infamous market routs, the…
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