Americans sharply boosted spending at retailers in July despite higher prices and interest rates
WASHINGTON (AP) — Americans sharply boosted spending at retailers in July despite higher prices and interest rates.
WASHINGTON (AP) — Americans sharply boosted spending at retailers in July despite higher prices and interest rates.
More than a dozen Aussie banks have slashed their fixed or variable interest rates this week. Here's who.
NEW YORK (Reuters) -Uncertainty over the U.S. economy's health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations. U.S. stocks tumbled on Friday after closely watched jobs data showed labor market momentum slowing more than expected, suggesting a narrower path for the U.S. to achieve a soft landing, in which the Fed is able to cool inflation without badly damaging economic growth. The Fed is expected to cut interest rates at its Sept. 17-18 meeting, but the data revived fears that months of elevated borrowing costs have already started to pressure the economy.
(Bloomberg) -- Hungarian Prime Minister Viktor Orban is set to rip up his budget-consolidation promises to unleash a wave of spending before what’s shaping up to be the toughest election of his more than decade-long rule, people familiar with the situation said. The forint erased gains against the euro.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Tu
If Trump’s policies were so terrible, why do people think they were better off during his presidency?
All three major U.S. stock indices closed lower after a weak jobs report left investors wondering how much the Fed will cut rates on Sept. 18.
Labor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Russia's economy ministry has revised up its 2024 forecasts for export sales of oil and gas, key sources of budget revenues, by $17.4 billion from the previous estimate to $239.7 billion thanks to a more positive price outlook, a document seen by Reuters showed. The improved expectations for Russia's oil and gas business underscore how the West has struggled to inflict lasting damage on Russia's economy through unprecedented sanctions, including oil price caps and import restrictions, over Moscow's war with Ukraine. The ministry also expects the average price of Russian oil sold for export to rise this year to $70 per barrel, a $5 upward revision from an estimate made in April.
Donald Trump unveiled a slate of new economic plans Thursday, including the creation of a government efficiency commission that he said Elon Musk has agreed to lead if the former president is elected in November.
(Bloomberg) -- Stocks saw their worst week since March 2023 and bonds whipsawed as another disappointing US jobs report revived concerns the economy is cooling and the Federal Reserve is moving too slow to rescue it.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisRome May Start Charging Entry to the Trevi FountainThe Outsized Cost of Expandi
(Bloomberg) -- The European Central Bank won’t react to a weakening euro-zone economy by lowering interest rates more rapidly, according to a survey of analysts.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeRespondents expect the ECB to follow June’s i
Dozens of top corporate leaders have endorsed Vice President Harris's presidential campaign, citing her ability to advance fair and predictable policies that support the rule of law, stability and a sound business environment.
Attorney-General Mark Dreyfus has conceded only $800m of the government’s hyped $4.7 billion DV funding package is new money, saying there is “work ahead of us”.
Queensland's Deputy Premier says a hard line will be taken with Star Entertainment to pay its taxes but talks are ongoing to provide relief for Queen's Wharf.
NEW YORK (Reuters) -Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers. Brent crude futures were down $1.63, or 2.24%, to $71.06 a barrel, their lowest level since Dec. 2021. "The jobs report was a little soft and implied that the economy in the U.S. is on the slide," Bob Yawger, executive director of energy futures at Mizuho.
(Bloomberg) -- Stocks whipsawed ahead of US jobs data that will be key in determining the size of a Federal Reserve rate cut in September.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationThe Outsized Cost of Expanding US RoadsMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHow Air Conditioning Took Over the American OfficeIn a session of several twists and turns, the S&P 500 finished lower
Ukraine appears to be calling on a fleet of fire-spewing “dragon drones” in its war with Russian invaders, putting a modern twist on a munition used to horrific effect in both world wars.
Scientists tracked the movements of a large pregnant porbeagle shark for months. Then, its tag floated to the ocean surface, suggesting a larger shark had eaten it.
Sir Ian McKellen described the late Queen Elizabeth II as “quite rude” and said the British royal family “can’t do anything normal,” declaring in a recent interview that he was siding with Prince Harry in his rift with the crown. In a lengthy interview with The Times in which the legendary actor held little back, McKellen said that whenever he met the late queen, she would shake his hand like she was pushing him away. “It meant, ‘Go! Go!’” McKellen said. “The Queen, I’m sure she was quite mad at
‘LOOK he got his teeth fixed!’ one excited fan said
An ordinary looking 50 cent coin could be worth up to 80 times its face value. Here's why.