WASHINGTON—U.S. retail sales rose less than expected in June as receipts at service stations and building material stores declined, but consumers boosted or maintained spending elsewhere, which likely kept the economy on a solid growth path in the second quarter. Overall, the mixed report from the Commerce Department on Tuesday painted a picture of consumer…
Pound Slides After Cooler Inflation Data, Yen Under Pressure Again
LONDON/SINGAPORE—Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. The pound dropped as much as 0.8 percent against the dollar to $1.2931, and also…
Brent Oil Hovers Over $80 as Inflation Worries Ease
LONDON—Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China’s pledge to reinvigorate economic growth and expectations the U.S. Federal Reserve will stop raising interest rates soon. Brent futures rose 38 cents at $80.01 a barrel by 0956 GMT, while U.S. West Texas Intermediate (WTI) crude was up 20 cents to $75.95 per…
Stocks Climb, Sterling Weighed Down as UK Inflation Slows
July 19, 2023
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LONDON, SYDNEY—Global stocks and government bonds rallied on Wednesday as good news on UK inflation added to a picture of cooling price pressures, although the data slammed the brakes on sterling’s recent winning streak. Headline British consumer price inflation fell to 7.9 percent year-on-year in June, against expectations for 8.2 percent, in the latest downside…
New York Federal Reserve Reports Surge in Credit Application Rejections
July 19, 2023
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Business & Marketseconomic policieseconomyinflationloan applicationloan rejectionNew York Federal Reservepersonal financePolicies & Impactsreal estaterecessionUSUS NewsUS Real Estate
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The New York Federal Reserve Bank said more Americans had their credit applications rejected last month at levels not seen in years. The New York Fed reported on July 16 added that fewer people across the country also sought to borrow. The report was part of the bank’s monthly Survey of Consumer Expectations, which is taken every four…
‘A Fool’s Bargain’—Robert Lighthizer on the US-China Trade Relationship and How to Strategically Decouple
July 18, 2023
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American Thought LeadersBusiness & MarketsChinaChina Business & EconomyChina Newseconomic policieseconomyEpochTVFinance & Business Tiesfree tradeLive VideosRobert LighthizerSpecial TopicsTech CompetitionUS-China relationsUS-China TradeVideo
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“The economic growth of China is largely a wealth transfer from the United States,” says Robert Lighthizer. “You’re transferring the wealth of our children and grandchildren and their children overseas.” Mr. Lighthizer served as the U.S. Trade Representative in the Trump administration and also served as deputy trade representative in the Reagan administration. In this…
[PREMIERING NOW] ‘A Fool’s Bargain’—Robert Lighthizer on the US-China Trade Relationship and How to Strategically Decouple
July 18, 2023
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American Thought LeadersBusiness & MarketsChinaChina Business & EconomyChina Newseconomic policieseconomyEpochTVFinance & Business Tiesfree tradeLive VideosRobert LighthizerSpecial TopicsTech CompetitionUS-China relationsUS-China TradeVideo
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“The economic growth of China is largely a wealth transfer from the United States,” says Robert Lighthizer. “You’re transferring the wealth of our children and grandchildren and their children overseas.” Mr. Lighthizer served as the U.S. Trade Representative in the Trump administration and also served as deputy trade representative in the Reagan administration. In this…
American Startups Facing a Tough Situation in 2023, With Little Sign of Relief
July 18, 2023
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Business & MarketsCompanieseconomic policieseconomyinflationInvestmentMarketsMedia & Big TechrecessionSilicon ValleystartupsTechTech NewsUSUS Newsventure capital
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It is becoming more apparent that American startups are facing a bad year, and financial relief is far from coming. Higher interest rates, a shaky U.S. economy, and the recent banking crisis have led to a shortage of funds for capital-hungry startups in their early stages, along with less opportunity for those in late-stage development…
Federal Reserve Not a Climate Policymaker, Says Central Bank Supervisor
Despite the Federal Reserve’s supervisory work related to the financial risks of climate change, the U.S. central bank is not a climate policymaker, says a supervisory and regulatory director at the institution. Dr. Michael Gibson reiterated Chair Jerome Powell’s remarks earlier this year that the Fed is not crafting climate policy. However, the central bank…
[PREMIERING 7:30PM ET] ‘A Fool’s Bargain’—Robert Lighthizer on the US-China Trade Relationship and How to Strategically Decouple
July 18, 2023
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American Thought LeadersBusiness & MarketsChinaChina Business & EconomyChina Newseconomic policieseconomyEpochTVFinance & Business Tiesfree tradeLive VideosRobert LighthizerSpecial TopicsTech CompetitionUS-China relationsUS-China TradeVideo
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“The economic growth of China is largely a wealth transfer from the United States,” says Robert Lighthizer. “You’re transferring the wealth of our children and grandchildren and their children overseas.” Mr. Lighthizer served as the U.S. Trade Representative in the Trump administration and also served as deputy trade representative in the Reagan administration. In this…
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