- — China’s economy to pump energy in global economic recovery: spokesperson
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at 6/9/23 3:00pmThe Chinese economy will continue to serve as an engine of growth and contribute to global economic recovery, a Chinese foreign ministry spokesperson said on Thursday. The latest reports issued by the World Bank and the Organization for Economic Cooperation and Development (OECD) both noted that Chinas reopening will provide impetus for world economic growth. ...- — US weekly jobless claims race to 1-1/2-year high, economists urge caution
- at 6/9/23 3:00pmThe number of Americans filing new claims for unemployment benefits surged to the highest level in more than 1-1/2 years last week, but layoffs are probably not accelerating as the data covered the Memorial Day holiday, which could have injected some volatility. The largest increase in applications in nearly two years reported by the Labor ...
- — US household wealth rose $3tn in the first quarter
- at 6/9/23 3:00pmWealth increase led by equity market gains The value of assets held by US households increased by $3.05tn in the first three months of the year, taking the total assets held by the household sector to $168.5tn. Liabilities rose just $23bn to $19.6tn, leaving net household worth at $148.8tn. Rising equity markets was the main ...
- — Global organizations raise expectations on China’s economic growth
- at 6/9/23 3:00pmThe Organization for Economic Co-operation and Development rose the economic growth expectation on China again in a report released on June 7 local time to 5.4 percent this year and 5.1 percent next year, deeming that Chinas economic recovery fuels the global economy, China News Service reported Friday. The World Bank also lifted its prospect ...
- — UK and US launch first-of-its kind economic partnership
- at 6/9/23 3:00pmThe Prime Minister and President Biden have agreed an innovative economic partnership today (Thursday), which will see our countries work together more closely than ever before across the full spectrum of our economic, technological, commercial and trade relations. The ‘Atlantic Declaration’ heralds a new era for the thriving economic relationship between the UK and US, ...
- — French central bank expects 0.1% second-quarter growth
- at 6/9/23 3:00pmThe French economy is on course to eke out meagre growth in the second quarter as industrial and service activity picks up, the central bank said on Thursday in its monthly business climate report. The euro zones second-biggest economy is set to grow 0.1% in the April through June period from the previous quarter, when ...
- — Credit Suisse puts up China brokerage venture for sale -sources
- at 6/9/23 3:00pmCredit Suisse CSGN.S and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss banks takeover by rival UBS UBSG.S, said two people with direct knowledge of the matter. Citigroup C.N had at one point shown interest in acquiring Credit Suisse Securities China (CSS), they added. Citi, whose ...
- — Consumers are keeping the U.S. out of a recession. It’s getting harder
- at 6/9/23 3:00pmThe widely predicted U.S. recession remains out of sight as the first half of 2023 winds down, but the consumer sector that has fueled a remarkable recovery from the pandemic shutdowns may finally be showing signs of fraying. The signals that economists lean on to gauge the odds of a recession are contradictory at the ...
- — China’s central bank upbeat on Q2 GDP growth, confident on 2023 targets
- at 6/9/23 3:00pmChinas economic growth is expected to be relatively high in the second quarter compared to the prior year, mainly due a low base of comparison, while consumer inflation is projected to be above 1% by December, the central bank governor said. As rising interests rates and inflation squeeze demand in the United States and Europe, ...
- — China’s factory deflation steepens as demand wanes
- at 6/9/23 3:00pmChinas factory gate prices fell at the fastest pace in seven years in May and quicker than forecasts, as faltering demand weighed on a slowing manufacturing sector and cast a cloud over the fragile economic recovery. As rising interests rates and inflation squeeze demand in the United States and Europe, China is in contrast battling ...
- — Nordea Bank : part of the Net-Zero Asset Owner Alliance steering group
- at 6/9/23 3:00pmAll members of the Alliance have committed to transitioning their investment portfolios to net-zero greenhouse gases emissions by 2050 and the members were the first in the financial industry to set intermediate targets (aligned with the Paris Agreement schedule) to ensure being on the right path. They report on their progress annually. Nordea will now ...
- — BOJ set to keep ultra-low rates, may signal inflation overshoot
- at 6/9/23 3:00pmThe Bank of Japan (BOJ) is expected to maintain ultra-loose monetary policy next week and its forecast for a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources said. The central bank also may signal that inflation is overshooting its forecasts, which would heighten the chance of ...
- — Greek EU-harmonised inflation eases to 4.1% in May
- at 6/9/23 11:00amGreeces annual EU-harmonised inflation rate slowed to 4.1% in May from 4.5% in April as housing costs fell, data showed on Friday. EU-harmonised inflation is an index of components that is used across the EU to measure inflation in a consistent way. Prices of food and hotels and restaurants rose by an annual 11.4% and ...
- — With eye on China, US and five allies condemn trade-related ‘economic coercion’
- at 6/9/23 11:00amThe United States and five of its allies on Friday condemned the use of trade practices that amount to economic coercion in a joint declaration that did not single out other countries but appeared to be aimed at China. Australia, Britain, Canada, Japan, and New Zealand jointly released the statement with the United States, emphasizing ...
- — UBS agrees with Swiss government on Credit Suisse loss guarantee
- at 6/9/23 11:00amUBS UBSG.S has signed an agreement with the Swiss government to cover up to 9 billion Swiss francs ($10.00 billion) in losses from its emergency takeover of Credit Suisse CSGN.S, the countrys largest bank and government said on Friday. As part of the deal, which was signed on Friday, UBS must keep its headquarters in ...
- — Fed seen on hold in June, but one-third of economists expect a hike soon
- at 6/9/23 7:00amThe U.S. Federal Reserve will not raise interest rates for the first time in well over a year at its June 13-14 meeting, according to economists polled by Reuters, but a significant minority expects at least one more hike this year as the economy remains resilient. Fed Chair Jerome Powell signaled in May that the ...
- — ECB to hike rates in June and July to break sticky inflation
- at 6/9/23 4:00amThe European Central Bank will hike its key interest rates by 25 basis points on June 15 and again in July before pausing for the rest of the year as inflation remains sticky, according to a clear majority of economists polled by Reuters. After a combined 375 basis points of hikes over the past year, ...
- — Chinese FDI faces great wall in India as security fears rise
- at 6/9/23 4:00amIndia approved less than a quarter of the total 435 foreign direct investment applications from China since April 2020 when the government tweaked the FDI policy to check opportunistic takeover of Indian companies, according to official data seen by Mint. The policy was changed during the covid-19 pandemic when valuations of companies were at a ...
- — Goldman Sachs planning for sluggish growth, higher inflation
- at 6/9/23 4:00amGoldman Sachs Group Inc (NYSE:GS). is planning for a period of sluggish growth and higher inflation, the banks president John Waldron said, calling it a mini-stagflation scenario. There will be a tougher environment for capital markets and financing as CEOs remain cautious, Waldron told a Bloomberg conference on Thursday. Were planning for that scenario to ...
- — Eurozone in technical recession after all
- at 6/9/23 4:00amSo, a technical recession after all. It just took the statistical offices a while to get there. The decline of 0.1% in both the fourth and first quarters is so minimal though, and the labour market is so strong that it’s hard to argue that this is a recessionary environment. The stagnation of the economy ...
- — In Russia, the talk is of ‘war’ – even from Putin
- at 6/9/23 4:00amFor more than 15 months Russia has been fighting a war in Ukraine that the Kremlin refused to call a war but that is changing: President Vladimir Putin is using the word war more often. When Putin sent troops into Ukraine on Feb. 24 last year, he called it a special military operation ...
As of 6/10/23 10:42am. Last new 6/9/23 4:24pm.
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