BERLIN—Germany’s economy shrank by 0.2 percent in the fourth quarter compared with the previous three-month period, official figures showed Monday. The performance by Europe’s biggest economy was worse than expected. Gross domestic product shrank for the first time since the first quarter of 2021 largely because of a decline in consumer spending, which had supported…
German Economy Shrank 0.2 Percent in 4th Quarter, Worse Than Expected
Real Estate Versus Gold Investment: Which Is Better?
When considering retirement investments, most people stick to the stock market and invest in stocks, bonds, and mutual funds. Gold and real estate provide alternative options for retirement investing. Both gold and property offer instant diversification from the stock market. As with traditional assets, you can invest in paper alternatives to physical gold and real…
Wall Street Opens Lower Ahead of Fed Rate Decision
Wall Street’s main indexes opened lower on Monday, with the tech-focused Nasdaq dropping nearly 1 percent, to kick-start the busiest week of the earnings season and ahead of key central bank meetings. The Nasdaq Composite dropped 109.37 points, or 0.94 percent, to 11,512.34 at the opening bell. The Dow Jones Industrial Average fell 68.87 points,…
Toyota Defends Title as World’s Top-Selling Automaker in 2022
TOKYO—Toyota Motor Corp. sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1o percent as record overseas sales of 8.6 million vehicles helped offset a…
Dollar Seesaws Ahead of Busy Central Bank Week, Euro Higher After Spain CPI
LONDON/SINGAPORE—The dollar languished near an eight-month low on Monday ahead of a slew of central bank meetings this week, while higher Spanish inflation data supported the euro ahead of euro area readings on Wednesday. The U.S. dollar index, which measures the currency against a basket of its peers including the euro, was flat at 101.88,…
Oil Steadies as Rate Hikes Loom, Russian Flows Stay Strong
January 30, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil steadied on Monday as looming interest rate hikes by major central banks and signs of strong Russian exports balanced rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. Investors expect the Federal Reserve to raise rates by 25 basis points on Wednesday, followed the day after by…
Shares Shaky as Rate-Hike Week Looms
January 30, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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SYDNEY/LONDON—Shares slipped on Monday at the start of an agenda-setting week for markets in which likely interest rate hikes in Europe and the United States, as well as U.S. jobs and wage data, will give markets a fresh update on the battle against inflation. Investors expect the Federal Reserve will raise rates by 25 basis…
White House Targets Cryptocurrencies, Calls for Stronger Enforcement by Regulators
January 29, 2023
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Business & MarketsCompaniescryptocurrenciescryptocurrencyeconomic policiesExecutive BranchMarketsPoliticsregulatorsUSUS NewsWhite House
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North Korea, fraud, and financial losses are some of the dangers emanating from the cryptocurrency industry, according to a White House blog published on Jan. 27. It argued for enhanced oversight of cryptocurrencies more broadly, requesting help from financial regulatory bodies and Congressional lawmakers. The blog—co-written by national security adviser Jake Sullivan, National Economic Council Director Brian…
US Seeks Tighter Bail for FTX Founder Bankman-Fried to Prevent Tampering
NEW YORK—U.S. prosecutors on Friday asked a Manhattan judge to impose tougher bail conditions on Sam Bankman-Fried, expressing concern that the founder of the FTX cryptocurrency exchange might tamper with witnesses or destroy evidence in his criminal case. Citing Bankman-Fried’s “recent attempts to contact prospective witnesses,” prosecutors asked U.S. District Judge Lewis Kaplan to ban…
Intel’s ‘Historic Collapse’ Erases $8 Billion From Market Value
Intel Corp. saw about $8 billion wiped off its market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue forecast was $3 billion below estimates as it also…
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