The UK economy rebounded in April, following weaker performance in March, official figures have shown. Britain’s GDP increased by 0.2 percent, marking growth after the 0.3 percent contraction in March. The Office of National Statistics (ONS) reported that increased consumer spending was one of the factors causing the rise. Wholesale and retail trade, car and…
Dollar Eases as Traders Gear Up for Fed Skip
LONDON—The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to a 6–1/2-month trough after the central bank cut rates, and as speculation mounts that even more…
Oil Rises as Market Awaits Fed Interest Rate Decision
LONDON—Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or 1 percent, at $75.05 a barrel by 0916 GMT. U.S. West Texas Intermediate (WTI) crude was…
Stocks Edge Higher, Dollar Sags Eyeing Fed Pause
June 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Global shares edged higher and the dollar held near three-week lows on Wednesday as traders were all but certain that the U.S. Federal Reserve will refrain from hiking interest rates later in the session. Overnight, the much-watched U.S. CPI report showed prices barely rose in May, with just a 0.1 percent increase from the prior…
Students Need Work, Not Another Handout
June 14, 2023
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AustraliaBusiness & Marketseconomic policieseconomyinflationOpinionpersonal financerecessionstudent debtViewpointsWorld
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Commentary Handout culture is rampant in society today. People are seen as victims, and government handouts have become the natural response to any form of misfortune—great, small, or imagined. It, therefore, came as no surprise that the response to recently announced increases in indexation to student debt was a call for another government handout. In…
Australians to Get Affordable Financial Advice From Super Funds Under New Reform
June 14, 2023
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AustraliaBusiness & Marketseconomic policiesfinancial advicepersonal financeStephen Jonessuperannuation fundsWorld
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The Australian Labor government has introduced a new reform that allows more citizens to access affordable financial advice from their superannuation funds. This comes following an exodus of financial advisors in the country due to a 2019 royal commission’s inquiry into the misconduct in the banking, super and financial services industry, which resulted in a…
Janet Yellen Warns De-Dollarization Efforts Will Grow as Countries Seek Currency Alternatives
The U.S. dollar’s international status as the chief reserve currency is slowly diminishing as other countries diversify their assets, warns Treasury Secretary Janet Yellen. During a Housing Financial Services Committee on June 13, multiple Republican and Democratic lawmakers lobbed questions surrounding the risk of the worldwide de-dollarization campaign that has accelerated over the past year….
Australian Leading Financial Expert Calls For Better Solutions to Inflation
June 13, 2023
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AustraliaAustralian inflationBusiness & Marketseconomic policieseconomyinflationinterest rate hikespersonal financerecessionReserve Bank of AustraliaWorld
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One of Australia’s leading financial experts, Mark Bouris, has called for better solutions to tame high inflation, expressing deep concern following the RBA’s June interest rate hike. In a piece published in news.com.au, the executive chairman of Yellow Brick Home Loans has asked for an explanation of the central bank’s latest decision to institute the…
States Sending Tax Rebates and Stimulus Checks
June 13, 2023
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Business & Marketseconomic policiesinflationpersonal financePolicies & Impactsrelief paymentsstimulus checksUSUS News
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While federal stimulus checks ended several years ago, some states have continued to provide assistance to residents in the form of tax rebates or so-called “inflation relief” payments. In context of such payments, the Internal Revenue Service (IRS) issued clarification earlier this year that most relief checks issued by states last year aren’t subject to federal…
UK Employment Beats Pre-Pandemic Level, New Report Shows
The UK’s national employment rate is set to surpass the pre-COVID-19 pandemic level for the first time. The Office of National Statistics (ONS) published its latest labour market overview on Tuesday, showing an increase in both employees and those in self-employment. In the latest quarter, the UK employment rate was 76 percent, a rise of 0.2…
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