United Parcel Service agreed to resume labor talks with the International Brotherhood of Teamsters this week to avoid a strike that could disrupt supply chains and harm the economy. The package-delivery service will again start labor talks with the union, which represents 340,000 employees, on July 25, ahead of the looming strike. Labor negotiations broke…
Seller Inflation Is a Myth Created by Statism
Commentary Interventionists always blame inflation on everything and anything except the only thing that makes aggregate prices rise: issuing more units of currency than the real demand. Seller inflation is the same excuse and fallacy as cost-push inflation. A way to confuse citizens and assign causation to something that cannot make aggregate prices rise. Let…
San Francisco ‘Nowhere Near What It Used to Be’: Risk Consultant
San Francisco’s empty office spaces and fleeing businesses are impacting the city’s economic health. Office workers going remote have reduced the city’s tax revenue by almost half a billion dollars. NTD speaks to a risk consultant to find out some potential challenges the city is facing, and what the causes are. …
Wall Street Rises Ahead of Megacap Growth Results, Fed Decision
Wall Street’s main indexes crept higher at the open on Monday as investors braced for earnings from megacap growth and technology companies, while focusing on a rate decision from the Federal Reserve later this week. The Dow Jones Industrial Average rose 3.10 points, or 0.01 percent, at the open to 35,230.79. The S&P 500 opened…
Euro Drops After Weak Business Activity Data, Central Banks in Focus
SYDNEY/LONDON—The euro slid on Monday after activity data in key economies came in much softer than expected, giving markets a jolt at the start of a week packed with central bank meetings at which investors expect rate hikes in Europe and the United States. The European common currency fell 0.4 percent to $1.1083, skidding after…
Oil Prices Steady as Rate Hikes Expected, Supply Tight
LONDON—Oil prices were steady on Monday as traders expected more rate hikes from U.S. and European central banks, but tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel. Brent crude futures rose 4 cents, to $81.11 a barrel by 0644 GMT. U.S. West Texas Intermediate (WTI) crude was at…
Weak PMIs, Spain Election Uncertainty Dent Sentiment
July 24, 2023
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London—World stocks slipped on Monday, with weak business activity data and an inconclusive election result in Spain weighing on sentiment in Europe ahead of a central bank-packed week for markets. German business activity contracted in July, increasing the likelihood of a recession in the second half of the year, the German Flash Composite Purchasing Managers’…
Home Building Set to Grind to a Halt With New Red Tape, Housing Pressures Continue
July 23, 2023
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Commentary No one wants anyone to be living in substandard conditions, and we all want the disabled to live full lives, but how far can we go in making this possible? The National Construction Code (NCC) has taken it one step too far. It will result in less affordable houses, and insoluble design issues, even making certain…
Canadians Not Happy With Ottawa’s Management of Economy, Affordability: Feds’ Poll
Federal government research has found that Canadians are dissatisfied with how the government is managing the economy and cost-of-living challenges. A report disclosed on July 20, “Continuous Qualitative Data Collection of Canadians’ Views,” found that “almost all” of those polled “had a negative opinion regarding the federal government’s management of the economy in recent years,” according…
TSMC Delays Arizona Factory Opening Due to Insufficient Skilled Local Talent
July 22, 2023
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Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest chipmaker, will delay production at its new Arizona chip plant to 2025 due to a shortage of skilled labor. The year-long delay comes as trade relations between Washington and Beijing, have deteriorated over the past several years. TSMC Chairman Mark Liu broke the news to investors on a…
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