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…
It’s Price Rather Than Amount or Flow of Money That Matters
Commentary The nightmare for the central bank is not high inflation by itself but when high inflation is not responsive to tightening measures. As an example, we can look at the situation in the UK. The accompanying chart shows that the UK has broad money (M4) growing year-over-year (YoY) at zero percent, down from the…
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…
Pricewaterhouse Coopers to Ban Political Donations in Australia
One of the Big Four accounting firms, PwC, will extend its ban on political donations to include bodies using indirect means to channel election funding. On Monday, PwC acting chief Kristin Stubbins announced that the consultant giant will scrap its political donation program. She said although the firm always took the utmost care to ensure political donations…
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
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
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…
Kia to Invest $200 Million in US Plant, Build EV9 SUV in 2024
Kia said on Wednesday it will invest more than $200 million in its assembly plant in the U.S. state of Georgia to begin production of its electric EV9 SUV next year. The Korean automaker said the company will add about 200 jobs to build the three-row SUV alongside four other models at the West Point,…
Consumer Watchdog Says Australians Paying Too Much for Electricity
As millions of Australians have been hit with electricity price surges since July, the Australian Competition and Consumer Commission (ACCC) has raised concerns that electricity bills are too high. In May, the Australian Energy Regulator released the new default market offer, which caps the maximum rate energy retailers can charge residential and small business customers…
Chinese Money Launderers Are Major Obstacles in Fight Against Fentanyl: US Officials
July 13, 2023
admin
AmericasBusiness & MarketsChinaChina NewsCompaniesCrime & Public SafetyfentanylNational SecurityPolicies & ImpactsPoliticsSocial IssuesSouthern Bordersynthetic opioidsThreat from Communist ChinaUSUS NewsUS-China relationsWorld
0 Comment
Law enforcement officials say that America’s drug war is now in cyberspace, and the main antagonists are transnational criminal organizations (TCOs) serviced by Chinese money laundering outfits. “Mexican cartels’ ability to traffic deadly fentanyl into the United States is greatly enhanced by Chinese money laundering,” said Steven Cagen, assistant director of the Countering Transnational Organized…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`