LONDON—The dollar edged lower on Monday as traders stayed on guard ahead of policy decisions this week from several central banks, including the Federal Reserve, who are expected to keep interest rates on hold for the first time since January 2022. Monetary policy meetings of the Fed, the European Central Bank (ECB) and the Bank…
Oil Prices Fall, US Fed Rate Decision in Focus
LONDON—Oil prices fell $2 on Monday ahead of a U.S. Federal Reserve meeting as investors tried to gauge the central bank’s appetite for further rate hikes, while concerns about China’s fuel demand growth and rising Russian crude supply weighed on the market. Brent crude futures fell $1.91, or 2.5 percent, to $72.88 a barrel by…
European Stocks Rise Ahead of Inflation Data, Central Bank Meetings
June 12, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—European stocks rose in early trading on Monday and world stocks were just below 13-month highs ahead of key inflation data and U.S. Federal Reserve and European Central Bank meetings later in the week. After lacking direction during Asian trading, market sentiment picked up in early European trading, as investors waited for U.S. CPI data…
Australian Greens Refine Demands on $10 Billion Housing Fund
June 12, 2023
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AustraliaAustralian GreensBusiness & Marketseconomic policieshousingJim Chalmersmax-chandler matherWorld
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The Greens are holding firm on their demands for renters as talks continue on the federal government’s proposed multibillion-dollar housing fund. Crunch time is approaching for the government’s $10 billion housing future fund legislation, which is due to hit the Senate during the upcoming sitting fortnight. The $10 billion would be invested to generate returns…
IN-DEPTH: Shareholder Votes Show Support for ESG Falling
June 9, 2023
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This year’s spring season of shareholder voting is leading some to believe that the tide may be turning against the left-wing corporate pressure campaign that goes under the awkward moniker of Environmental, Social and Governance, or ESG. “The big story this year is the drop in support for ESG proposals,” Scott Shepard, a fellow at…
China’s Producer Price Inflation Falls 4.6 Percent in May Amid Overall Deflation Risk
June 9, 2023
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China’s Producer Price Index (PPI) fell for the eighth straight month in May, fortifying concerns about the economy slipping into a deflationary situation. Data from China’s National Bureau of Statistics show that the country’s PPI for May declined by 4.6 percent year over year, according to Reuters. This is the eighth consecutive monthly decline and…
Moving From New York City to Miami Can Save Nearly $200,000: Study
June 9, 2023
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High-income individuals from the borough of Manhattan in New York City can save nearly $200,000 annually by moving to Miami, Florida, a recent study has found. A June 8 study by financial information provider SmartAsset looked at the cost of living and tax rates in New York City, Chicago, and San Francisco to determine how…
A Bipartisan Credit Card Bill Reintroduced In Congress to Foster Greater Competition
June 9, 2023
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Business & MarketsCompaniescongresscredit card competition actcredit card feesdurbin amendmenteconomic policieseconomyMarketspersonal financePolicies & ImpactsPoliticstransaction feesUSUS News
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A new credit card bill that targets the monopoly of Visa and Mastercard over the credit card industry has triggered swift reaction from lobbyists. A bipartisan group of lawmakers, led by Rep. Lance Gooden (R-Tex.), introduced new legislation that would significantly reform the credit card industry and create greater competition for the benefit of consumers….
Wall Street Opens Higher on Tesla Boost, Fed Meet in Focus
Wall Street indexes opened higher on Friday as Tesla shares jumped on a tie-up with General Motors, though investors largely remained on the sidelines ahead of inflation data and U.S. monetary policy decision next week. The Dow Jones Industrial Average rose 18.83 points, or 0.06 percent, at the open to 33,852.44. The S&P 500 opened…
Dollar Peels Off 2-Week Lows Ahead of Central Bank Deluge
LONDON—The dollar bounced off two-week lows on Friday, shrugging off some of the weakness that has set in this month as expectations have grown that the Federal Reserve may not raise interest rates again for some time. Next week is packed with key monetary policy meetings, including those of the Federal Reserve, the European Central…
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