- — UK consumer spending slowed before last week’s budget, retailers say
- British consumer spending grew only modestly last month as uncertainty in the run-up to finance minister Rachel Reeves Oct. 30 budget and rising energy bills deterred shoppers, a survey showed on Tuesday. The British Retail Consortium said spending in shops increased by 0.6% in annual terms in October, below Septembers 2.0% growth and the weakest ...
- — India’s slowdown is touching the untouchable
- Indias biggest companies no longer offer a rose-tinted window onto the worlds fifth-largesteconomy. Shoppers have been tightening their purse strings for years. Now the austerity is spreading from the rural poor to the urban rich. That is the opposite of the recovery story that was supposed to play out. GDP is growing at 6.7% but ...
- — Imports boost US trade deficit to nearly 2-1/2-year high in September
- The U.S. trade deficit surged to nearly a 2-1/2-year high in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods. Republican presidential candidate Donald Trump has promised to impose a 60% tariff on Chinese goods and at least a 10% levy on all other imports if ...
- — Competitiveness of the European economy – statement of the Eurogroup in inclusive format
- Yesterday the Eurogroup in inclusive format adopted a statement on the competitiveness of the European economy. Significant shifts in the geopolitical landscape, fragmentation in global trade flows, rapid technological advancements, climate change and the energy crisis are converging to create a highly complex and dynamic global environment. The fallout from Russia’s unprovoked war of aggression ...
- — BOJ to raise rates again most likely in January, says ex-policymaker
- The Bank of Japan is likely to raise interest rates in coming months with January emerging as the most likely timing, when there will be more clarity on political and market developments, former BOJ board member Makoto Sakurai said on Tuesday. The central bank will eventually aim to raise short-term borrowing costs currently at ...
- — UK services sector lost steam in lead up to the budget, PMI shows
- Britains services sector lost momentum in the run-up to the new governments first budget in October, with business activity growing at the weakest rate in 11 months and the first fall in employment since December, a survey showed on Tuesday. The SP Global UK Services Purchasing Managers Index stood at 52.0 last month from Septembers ...
- — Trump’s tariff plan could cost Americans $78 billion in annual spending, NRF study shows
- U.S. shoppers could lose up to $78 billion in annual spending power annually if presidential candidate Donald Trumps new tariffs proposal on imports are implemented, a study from the National Retail Federation (NRF) showed on Monday. The study said the proposed tariffs would impact consumer product categories such as apparel, toys, furniture, appliances, footwear, and ...
- — Bank of England: Five things to watch this week
- How has the Bank of England reacted to last week’s budget? Last week’s budget, the first under Labour Chancellor Rachel Reeves, promised big tax hikes and even bigger spending increases. Borrowing will be materially higher over the next couple of years, and that revelation caught bond markets off-guard. Above all, investors latched onto new Office ...
- — China must open up further to combat rising unilateralism, premier says
- China will upgrade its free trade zones and explore investment agreements with other countries, Chinese Premier Li Qiang said on Tuesday, adding that opening up was a must to combat rising unilateralism globally. Li told the opening ceremony of the annual China International Import Expo that as part of this effort, China would further expand ...
- — US counties Wall Street will be watching closely on election night
- With Republican Donald Trump and Democrat Kamala Harris locked in a dead heat in the race for the White House, political forecasters will be eyeing a clutch of counties across the country for clues on who has the edge once polls start to close on Tuesday evening. Here is a list of bellwether counties Reuters ...
- — How much could Trump’s tariffs damage Europe’s economy?
- A Trump victory may harm Europes economy as proposed 10% US tariffs risk hitting European exports like autos and chemicals, eroding Europe’s GDP by up to 1.5% or about €260bn. Analysts warn of ECB rate cuts, euro weakness, and a recession risk, while defence spending could add fiscal strain. A potential victory for Donald Trump ...
- — For dealmakers, regulatory chaos would undercut Trump’s pro-business tilt
- With any other president, promises of less regulation and lower corporate taxes would have Wall Streets deal machine salivating at the prospect of a feeding frenzy. Not so with a potential Donald Trump presidency. Thats because executives expect a Trump administration would also bring with it policy uncertainty, trade wars, protectionism, and inflationary pressures, which ...
- — Euro zone manufacturing slump shows signs of stabilising in October, PMIs show
- Euro zone manufacturing showed some signs of stabilisation in October as while activity contracted for a 28th month it did so at a shallower pace, according to a survey which showed an ongoing decline in demand had also eased. HCOBs final euro zone manufacturing Purchasing Managers Index (PMI), compiled by SP Global, rose to 46.0 ...
- — Trump’s tariffs would reorder trade flows, raise costs, draw retaliation
- Iowa farmer Bob Hemesath is worried that U.S. agriculture will pay dearly if Donald Trump wins Tuesdays presidential election and makes good on a vow to swiftly impose a 60% tariff on Chinese goods and at least a 10% levy on all other imports. It could be a much worse rerun of the Republican former ...
- — China’s expanding imports boost global economic growth momentum: report
- The China Import Development Report 2024, released on Sunday, highlights the significant contribution of Chinas imports to economic growth internationally. The report emphasizes that Chinas proactive efforts to expand imports are boosting global economic momentum. In 2023, Chinas imports totaled $2,556.76 billion, maintaining its status as the worlds second-largest importer for the 15th consecutive year ...
- — German M&A flurry is powered by lasting tailwinds
- The titans of German industry are shedding their old clothes in favour of new ones. Whether that helps the country’s ailing economy is up for debate. But it certainly bodes well for dealmaking. Admittedly, the volume of mergers and acquisitions involving domestic companies has slumped in Germany, as in most countries. The total during the ...
- — Germany’s Scholz summons top two ministers over rival plans to fix economy
- German Chancellor Olaf Scholz will hold meetings with his top two ministers to seek common ground after they put forward contradictory plans to fix the nations economy, a government source told Reuters on Sunday. A document leaked by Christian Lindners finance ministry in Berlin last week laid out a plan for tax cuts and fiscal ...
- — India central bank well-equipped for post-US election volatility, sources say
- Indias central bank is well-equipped to deal with a potential sudden outflow of foreign funds and any steep fall in the rupee if Republican candidate Donald Trump wins next weeks U.S. presidential election, two sources familiar with the banks thinking said. The Reserve Bank of India would be able to tap its large foreign exchange ...
- — How Germany’s coalition works and could it fall apart?
- The parties in Germanys ruling coalition are under pressure to assert themselves after regional election defeats, dismal polling numbers and questions over whether they can form ajoint response to the darkening outlook for Europes largest economy. Elections are scheduled for September, but anotherspat over the budget has triggered speculation thatone of the three parties could ...
- — German factory sector catches breath in October after tough September, shows PMI
- The downturn in Germanys manufacturing sector eased somewhat in October as output, new orders and employment all slowed their rates of decline after the previous month saw the fastest contraction in a year, a survey showed on Monday. The HCOB Germany Manufacturing Purchasing Managers Index (PMI), compiled by SP Global, rose to 43.0 in October ...
- — India’s factory growth accelerates in October, PMI shows
- Indias manufacturing growth gained momentum in October after decelerating for three months as demand improved significantly, helping in job creation and leading to a better business outlook, according to a business survey released on Monday. The HSBC final India Manufacturing Purchasing Managers Index, complied by SP Global, rose to 57.5 in October from an eight-month ...
As of 11/5/24 9:15pm. Last new 11/5/24 1:36pm.
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