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Tag: Economy


Industries, Others

ONS: UK house price growth hit 14-month high in May

July 18, 2024

Via: MoneyWeek

Average house prices rose by their highest level so far this year during May in a sign of buyer confidence, at least ahead of the general election, Office for National Statistics (ONS) data shows. The latest ONS house price index […]


News

Inflation stays at 2% – when will interest rates fall?

July 17, 2024

Via: MoneyWeek

The annual rate of inflation came in at 2% in June. This marks no slowdown compared to May, when the Consumer Prices Index (CPI) hit the Bank of England’s target for the first time in almost three years. The largest […]


Financial Services, Industries

Bank of America shares jump 4% after saying net interest income rebound is coming

July 16, 2024

Via: CNBC

Bank of America on Tuesday said second-quarter revenue and profit topped expectations on rising investment banking and asset management fees. Here’s what the company reported: Earnings: 83 cents a share vs. 80 cents a share LSEG estimate Revenue: $25.54 billion […]


News

UK economy to grow faster than expected but short of Labour pledge, IMF says

July 16, 2024

Via: Sky News

The Washington-based fund, which was predicting only last October the UK would be the slowest of all the G7 nations this year, now expects it to be firmly in the middle of the pack. The upgrade – which takes expected […]


Finance Tech, Liquidity

Gold Price Update: September Rate Cut Reawakens Gold Bulls

July 15, 2024

Via: DailyFX

Gold has appreciated, buoyed by last week’s lower US CPI data with the path of least resistance to the upside. The precious metal thrives in a low interest rate environment and the mere anticipation of a rate cut from the Fed in […]


News

UK economy grew faster than expected in May

July 11, 2024

Via: MoneyWeek

After stalling in April, the UK economy grew 0.4% in May. This was double the rate economists were expecting, based on a poll from Reuters. On a three-month basis, the economy grew 0.9% – the strongest figure since January 2022. The […]


News

China’s inflation numbers miss expectations, rising 0.2% in June

July 10, 2024

Via: CNBC

China’s consumer price inflation rose by 0.2% in June from a year ago, missing expectations, while producer prices fell in-line with forecasts, data from the National Bureau of Statistics on Wednesday showed. China’s consumer price index was expected to rise by 0.4% […]


Energy, Industries

Liontown, LG Energy Consider Lithium Refinery That Could Help Feed U.S. Battery Demand

July 2, 2024

Via: The Wall Street Journal

Battery maker LG Energy Solution 373220 -1.01% and Australian lithium company Liontown Resources LTR 7.30% will jointly consider developing a refinery for producing battery-grade lithium, as companies plot new supply chains that bypass China even amid a collapse in prices for the critical mineral. The collaboration is part […]


Finance Tech, Liquidity

US Dollar (DXY) Back to Flat on the Day After German Inflation and US ISM Data

July 1, 2024

Via: DailyFX

Economic activity in the US manufacturing sector contracted in June for the third straight month, and the 19th time in the last 20 months, according to the latest ISM manufacturing report. According to Timothy Fiore, chair of the Institute for Supply […]


Industries, Others

Nationwide: House prices up in June, but market remains subdued

July 1, 2024

Via: MoneyWeek

The latest data from Nationwide revealed house prices are up 0.2% in June on a monthly basis, when adjusted for seasonal effects. Meanwhile, prices are up 1.5% year-on-year. The average house in the UK now costs £266,064. Prices are now […]


Finance Tech, Trading

European stocks fall on inflation fears, yen near 38-year low

June 26, 2024

Via: Investing.com

European stocks fell on Thursday as traders were cautious ahead of key inflation data, while markets were also on alert for signs of Japanese authorities intervening in the yen after further declines in the currency. Investors have become more worried […]


Energy, Industries

More states expected to roll out Inflation Reduction Act energy-efficiency rebates this summer

June 20, 2024

Via: CNBC

New York is launching a program offering homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property, and more states are expected to follow suit by summer’s end. The rebate programs are part of the federal Inflation Reduction Act, the […]


News

Inflation fall is welcome – but financial situation households are in compared to five years ago is stark

June 19, 2024

Via: Sky News

It has been a long road down from the peak of 11.1% in October 2022 and a great deal of hardship has been felt along the way. The return to earth poses questions for the Bank of England, the government, […]


News

Supermarkets target football fans as grocery inflation eases further

June 18, 2024

Via: Sky News

Kantar Worldpanel – which tracks supermarket till prices, sales and market share – said its measure of grocery inflation slowed to 2.1% in the four weeks to 9 June from 2.4% the previous month. That left the figure at its […]


News

Singapore’s economy: what can we learn from its successes?

June 14, 2024

Via: MoneyWeek

While Britain may be about to get its sixth prime minister since 2016, Lawrence Wong, a 51-year-old US-trained economist, was last month sworn in as Singapore’s fourth prime minister since 1965, when the city-state separated from Malaysia and became independent. […]


Industries, Others

RICS: No spring boost for UK housing market as interest rates remain high

June 13, 2024

Via: MoneyWeek

The UK housing market saw a dip in confidence in May, according to the latest survey from the Royal Institute of Chartered Surveyors (RICS). House prices and buyer confidence are partly driven by mortgage rates, which are linked to the […]


News

US Dollar Eyes CPI Data and FOMC Policy Release, Dot Plot Key Indicator

June 12, 2024

Via: DailyFX

Risk markets are opening the session slightly better bid, but moves are expected to be limited ahead of the keenly awaited US inflation report (13:30 UK) and the latest Federal Reserve monetary policy decision (19:00 UK). Markets expect core inflation […]


Energy

Threat to energy bills ahead from gas price surge but oil costs plunge

June 3, 2024

Via: Sky News

Brent crude fell by more than 3% on Monday – to just below $78 a barrel at one stage – on market speculation that major oil producing countries in the Opec+ group, which includes Russia and Saudi Arabia, were set […]


Energy, Industries

OPEC+ Fights Declining Oil Prices with Extended Production Cuts, Phased Tapering

June 3, 2024

Via: DailyFX

OPEC+ EXTENDS PRODUCTION CUTS INTO 2025 – VOLUNTARY CUTS TO BE WOUND DOWN FROM OCTOBER The Organisation for Petroleum Exporting Countries and its allies, otherwise known as OPEC +, decided to extend their existing production cuts when officials met on […]


Industries, Others

Inflation in UK shops now back at ‘normal levels’ – as prices for some items fall

May 28, 2024

Via: Sky News

Overall annual shop price inflation eased to 0.6% in May, down from 0.8% in April, the British Retail Consortium (BRC) and NielsenIQ said. Non-food products remained in deflation – at -0.8% in May – a fall from -0.6% in the […]