Category: News

September 30, 2022

Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as […]

September 29, 2022

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic […]

September 29, 2022

Canadian economic activity edged up a surprise 0.1% in July, driven by strong oil sand production, while gross domestic product was most likely flat in August, Statistics Canada data showed on Thursday. Analysts polled by Reuters had forecast GDP would […]

September 23, 2022

Britain’s new government on Friday announced a sweeping plan of tax cuts it said would be funded by borrowing and revenues generated by anticipated growth, as part of contentious moves to combat the cost-of-living crisis and bolster a faltering economy. […]

September 22, 2022

Hong Kong’s consumer price inflation held steady in August, after accelerating in the previous two months, data released by the Census and Statistics Department showed on Thursday. Consumer prices rose at a stable rate of 1.9 percent year-over-year in August. […]

September 15, 2022

Sri Lanka’s economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation’s most severe financial crisis in more than […]

September 13, 2022

Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households. Consumer prices surged 8.3% […]

September 12, 2022

THE STATE OF THE ECONOMY After a record resurgence out of the depths of the coronavirus pandemic, the US economy has been struggling in recent months. The 2Q’22 US GDP report showed the economy contracted by -0.9% annualized, marking the […]

September 9, 2022

France and Germany pledged on Friday to act together to protect households and companies from soaring energy prices, while also using fiscal policy to fight record high inflation. French Finance Minister Bruno Le Maire and his German counterpart Christian Lindner […]

September 5, 2022

The energy price cap is due to rise 80% in October, after the regulator, Ofgem, said the average household’s yearly bill can be raised from £1,971 to £3,549. Fridge freezers Average integrated fridge freezers currently cost around £73 a year […]

September 1, 2022

House price growth fell to 10% last month, down from 11% in July, but actually increased when taking account of seasonal effects. Meanwhile, house prices have risen by almost £50,000 in two years. “There are signs that the housing market […]

August 31, 2022

Austria’s consumer price inflation eased for the first time in several months after a trend of steady growth that has persisted for more than a year in August, mainly due to fuel prices that fell significantly from the previous month, […]

August 30, 2022

Home-price growth slowed in June as higher mortgage rates made homeownership less affordable. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18% in the year that ended […]

August 29, 2022

Russia’s economy will shrink by less than 3% in 2022, a much shallower contraction than initially expected, while inflation will be below earlier projections, First Deputy Prime Minister Andrei Belousov said on Monday. Russia’s economy took a hit from sweeping […]

August 25, 2022

A commissioner from the Federal Communications Commission (FCC) criticized the agency’s decision to deny SpaceX’s bid for $886 million in US subsidies. SpaceX, Elon Musk’s aerospace manufacturer, was looking for funding to expand its Starlink satellite internet to homes and […]

August 25, 2022

Fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy. Applications for jobless aid for the week ending Aug. 20 fell by 2,000 to […]

August 18, 2022

Markets reacted cautiously to the minutes of the recent Fed meeting that revealed a Fed that is inclined to increase rates further so as to tame inflation. However, the minutes also instilled hopes that the Fed would slow down its […]

August 17, 2022

The US Air Force has awarded SpaceX a $1.92 million contract for its satellite internet service, Starlink, according to documentation, which Teslarati and The Register linked to in reports. The development represents a turnaround since SpaceX’s US subsidies bid for […]

August 17, 2022

Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soaring cost of […]

August 16, 2022

ENERGY COSTS TO EAT INTO BOTTOM LINE Stubbornly high inflation and anticipated increase in energy costs is expected to weaken profits in the private consumption sector Already weak economic growth expected to decline further However, expectation for the financial sector […]