A former Anheuser-Busch executive warned that Bud Light’s continuous decline in sales will lead to more layoffs amid a months-long boycott that was initiated in early April, saying that “more employees” could be “at risk.” The executive, Anson Frericks, a former president of operations for Anheuser-Busch, recently spoke with Fox Business Network’s “The Claman Countdown”…
Former Anheuser-Busch Exec Warns More Layoffs Could Occur Amid Bud Light Struggle
US Wholesale Prices for June Point to Further Easing of Inflation Pressures
WASHINGTON—Wholesale prices in the United States decelerated again last month, the latest sign that inflationary pressures are easing in the face of the Federal Reserve’s streak of interest rate hikes. The government’s producer price index—which measures inflation before it reaches consumers—rose just 0.1 percent last month from June 2022, the smallest such increase since August…
Sunak Tells Unions to Halt Strikes After Announcing ‘Final’ Pay Offer
Rishi Sunak has challenged union leaders to call off strike action after offering public sector workers pay rises of up to 7 percent. The prime minister said on Thursday that he has accepted the recommendations from independent pay review bodies, including 6.5 percent increases for teachers in England for 2023-24, which the education unions said…
US Applications for Jobless Benefits Fall Again as Labor Market Continues to Defy the Fed Actions
The number of Americans applying for jobless benefits fell again last week as the labor market continues defy the Federal Reserve’s attempt to cool it through higher interest rates. U.S. applications for jobless claims fell by 12,000 to 237,000 for the week ending July 8, from 249,000 previous week, the Labor Department reported Thursday. The…
Inflation Closing In on Fed’s Target: Analyst
U.S. consumer prices saw their smallest increase on a yearly basis in more than two years in June. The headline CPI reported on Wednesday showed that inflation is subsiding. The considerable slowdown in underlying inflation sparked a rally in the stock and bond markets. Some investors are convinced the U.S. central bank’s fastest monetary policy…
Wall Street Opens Higher on Signs of Disinflation
Wall Street’s main indexes opened higher on Thursday after producer prices data provided further evidence of inflation cooling in the world’s largest economy, and stoked hopes that the Federal Reserve will soon end its monetary policy tightening. The Dow Jones Industrial Average rose 64.88 points, or 0.19 percent, at the open to 34,412.31. The S&P…
Global Public Debt Hits Record $92 Trillion: UN Report
LONDON—Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the COVID-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said. Domestic and external debt worldwide has increased more than five times in the last two decades, outstripping the rate…
Dollar Slides After Inflation Surprise Spooks Bulls
LONDON—A sliding dollar came under more pressure on Thursday, as traders took surprisingly slow U.S. inflation as a signal U.S. interest rate rises will be all but finished by month’s end. U.S. data on Wednesday showed inflation slowed a lot faster than expected last month. That gave rise to the biggest one-day dollar sell-off in…
Oil Benchmark Brent Hovers Above $80 After Pricing in US Data
LONDON—Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world’s biggest economy are close to their peak. Data released on Wednesday showed U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to…
Stocks Around 2023 Highs as Disinflation Signal Brings Some Relief
July 13, 2023
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LONDON—Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as soon as this month. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years…
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