Tag: Economy

July 26, 2024

Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank raised its key rate to 18%. Nabiullina and Zabotkin spoke in Russian. The quotes below were translated into English […]

July 25, 2024

Economic activity in the U.S. was considerably stronger than expected during the second quarter, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced during the April-through-June […]

July 23, 2024

Sales of previously owned homes dropped 5.4% in June compared with May, to 3.89 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Sales were also 5.4% lower than June of last year. This […]

July 18, 2024

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 […]

July 17, 2024

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 […]

July 16, 2024

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 […]

July 16, 2024

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 […]

July 15, 2024

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 […]

July 11, 2024

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 […]

July 10, 2024

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% […]

July 2, 2024

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 […]

July 1, 2024

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 […]

July 1, 2024

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 […]

June 26, 2024

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 […]

June 20, 2024

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 […]

June 19, 2024

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, […]

June 18, 2024

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 […]

June 14, 2024

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. […]

June 13, 2024

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 […]

June 12, 2024

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 […]