LONDON—Oil rose on Thursday as tighter supply resulting from Saudi Arabia’s pledged production cut and a potential pause to U.S. interest rate hikes offset worries over demand weakness and a global economic slowdown. At an OPEC+ meeting on Sunday, Saudi Arabia said it will cut its crude output by 1 million barrels per day (bpd)…
Shares Stall as Bond Markets Reprice Rate Expectations
June 8, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
LONDON—Borrowing costs in government bond markets rose and share markets stalled on Thursday after a surprise interest rate hike in Canada gave investors their second reminder of the week that the surge in global interest rates isn’t done yet. Asian markets had struggled overnight and the cautious mood continued in Europe as London’s FTSE, Germany’s…
Commercial Real Estate Exposure, Financial Pressures Could Result in Bank Consolidation, Yellen Says
More consolidation in the U.S. banking system would not be surprising considering the current environment in the financial sector, says Treasury Secretary Janet Yellen. While Yellen acknowledged that she does not wish to see further consolidation by some smaller banks threaten the diversity of the banking sector, she would understand due to the enormous pressures…
Inflation, Biden Regulations, Are Making Life Hard, Small Business Owners Say
June 7, 2023
admin
American supply chainBusiness & Marketseconomic policieseconomyinflationpandemicPolicies & ImpactsPoliticsUSUS News
0 Comment
Small business owners are calling on Congress to address inflation by easing business regulations and taxes. They say Biden administration policies show disdain for small businesses. Silvia Lee, executive vice president, and Chief Lending Officer for First Community Bank in Corpus Christi, Texas, said a commercial customer told her he felt targeted. “He mentioned that…
PM Sunak to Seek Closer Economic Ties With US in White House Visit
June 7, 2023
admin
Business & Marketseconomic policiesExecutive BranchFree Trade AgreementJoe BidenPolicies & ImpactsPoliticsRishi SunakUKUSWorld
0 Comment
British Prime Minister Rishi Sunak is visiting the White House this week to seek closer economic ties with the United States, despite the Biden administration’s halt on discussions for a free-trade agreement. This will be his first visit as Prime Minister to the White House, in which he will also discuss the war in Ukraine, the…
ANALYSIS: Bank of Canada Ends Rate Hike Pause, Omits Wording on Likely Next Moves
OTTAWA—With its June 7 rate hike, the Bank of Canada pause lasted less than five months. In raising its overnight rate target by 25 basis points (0.25 percentage points) to 4.75 percent—the highest level since the spring of 2001—the BoC caught some market participants off-guard with the timing of the hike. In ending its pause,…
Bank of Canada Ends Pause, Hikes Key Rate to 4.75 Percent—Highest Since 2001
OTTAWA—The Bank of Canada’s pause on raising interest rates lasted just over four months. Canada’s central bank raised its overnight rate target to 4.75 percent with a 0.25 percentage point (25 basis points) rate hike on June 7, in the face of mounting evidence of an economy that’s still running too hot. The BoC cited…
Labour’s VAT on Private School Fees Will Raise Very Little Revenue: Report
Labour’s strategy of adding VAT to private school fees has been questioned by a think tank that reported the policy to be based on flawed calculations. According to a 2017 Labour’s document called “Funding Britain’s Future” (pdf), VAT on private school fees would yield £1.6 billion a year, which could be invested in state schools instead….
S&P 500, Nasdaq Inch Higher at Open With Fed Policy Outlook in Focus
The S&P 500 and Nasdaq opened marginally higher on Wednesday as investors refrained from making big bets ahead of inflation data and the Federal Reserve’s policy meeting next week. The Dow Jones Industrial Average fell 10.81 points, or 0.03 percent, at the open to 33,562.47. The S&P 500 opened higher by 1.62 points, or 0.04…
‘We Don’t Have to Hide’: The Rise of Conservative Brands
June 7, 2023
admin
Business & MarketsCompaniesconservative boycottconservative brandseconomic policiesPolicies & ImpactsSocial IssuesUS
0 Comment
Multiple brands touting conservative values have been launching and gaining market share amid the current economic climate where an increasing number of consumers are reacting harshly to—even boycotting—companies promoting progressive ideologies, especially transgenderism. NBA player Jonathan Isaac, for example, announced the launch of his UNITUS apparel brand in a tweet on June 2. Pitched as…
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`