The annual inflation rate slowed to 4 percent in May, down from 4.9 percent in April, according to the Bureau of Labor Statistics (BLS). This came in below the consensus estimate of 4.1 percent and represented the lowest level since March 2021. On a month-over-month basis, the consumer price index (CPI) rose just 0.1 percent,…
US Inflation Slows to 2-Year Low as Energy Prices Continue Downward Trend
US Household Concerns Over Credit Conditions, Finances Deteriorate as Inflation Anxieties Ease
Americans’ concerns regarding credit conditions and their own financial situations deteriorated in May, while anxieties over inflation in the coming months dropped to the lowest point since May 2021, new data published on June 12 show. According to the Federal Reserve Bank of New York’s May survey of consumer expectations, median inflation expectations among Americans declined by 0.3…
Dollar Sags Before Inflation Data, Yuan Weakens on Rate Cut
LONDON/SINGAPORE—The dollar fell slightly on Tuesday as investors awaited U.S. inflation data, while China’s yuan slipped to a six-month low after the central bank lowered a short-term lending rate to boost the economy. The euro was up 0.42 percent to $1.08 on Tuesday, after touching its highest since May 23 earlier in the session at…
Shares Get a Boost From Tech; Dollar Dithers Ahead of Inflation Data
June 13, 2023
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LONDON—Global shares rose on Tuesday, taking their lead from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. Consumer inflation on Tuesday and wholesale data on Wednesday could offer investors evidence of how successful the Fed has been in taming price pressures,…
IN-DEPTH: Can India Replace China as Global Manufacturing and Economic Powerhouse?
Amidst increasing aggression by communist China that threatens the existing global order, India is one democratic nation that’s widely seen as an emerging power and a balancer against China. The resilient Indian economy has created hope and, with manufacturing companies looking for factory floors outside of China, there’s a lot of buzz in the global…
Commercial Real Estate Forecast Mixed, Office Continues to Slide, Other Sectors Thriving: UCLA Anderson
June 12, 2023
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Commercial real estate in the United States is facing uncertainty, with mixed signals from traditional economic bellwethers like housing and employment contributing to the lack of clarity, and lingering fears of recession leave the predictions open-ended, according to a recent forecast by the University of California–Los Angeles Anderson School of Business, which included estimates for…
Disruptions at West Coast Ports Continue Amid Labor Negotiations
June 12, 2023
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Business & MarketsCaliforniaCompanieseconomic policieseconomyExecutive BranchInternational Longshoremen and Warehouse UnionMarketsPacific Maritime AssociationPoliticsport of Long BeachPort of Los Angelesport slowdownRegional & State NewsRegional NewsState NewsU.S. Chamber of CommerceUSUS NewsWashington state
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Business & MarketsCaliforniaCompanieseconomic policiesEconomyExecutive BranchInternational Longshoremen and Warehouse UnionMarketsPacific Maritime AssociationPoliticsport of Long BeachPort of Los Angelesport slowdownRegional & State NewsRegional NewsState NewsU.S. Chamber of CommerceUSUS NewsWashington state
Continuing labor disruptions at West Coast ports are causing concerns, as peak shipping season begins. Work slowdowns, due ongoing contract negotiations, have particularly affected cargo-processing operations at the two key California major ports of Long Beach and Los Angeles. Dockworkers belonging to the International Longshoremen and Warehouse Union (ILWU) have continued to “disrupt operations” at West Coast…
Three Steps to Defend Your Retirement Against ‘Woke’ ESG Investments
The ongoing push for environment, social, and governance (ESG) policies has driven retirement accounts into a downward spiral. Stagnant and oftentimes fading portfolios are being filled with “woke” investments thanks in large part to new guidance from the White House. On top of politics, mega-money managers like BlackRock are pressuring businesses to focus less on…
UBS Completes Takeover of Credit Suisse in Deal Meant to Stem Global Financial Turmoil
June 12, 2023
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BERLIN—UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil. A statement from the bank…
Wall Street Opens Higher as Investors Eye Inflation Data, Fed Verdict
U.S. stock indexes rose on Monday, with the benchmark S&P 500 and the tech-heavy Nasdaq hovering near 2023 highs as investors awaited inflation data and the Federal Reserve’s interest rate decision this week. The Dow Jones Industrial Average rose 30.02 points, or 0.09 percent, at the open to 33,906.80. The S&P 500 opened higher by…
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