BEIJING—Global shares were mixed Monday after Wall Street fell on worries the Federal Reserve will raise interest rates as soon as March. Frankfurt and Shanghai advanced. Wall Street futures were higher. Seoul declined while London was little-changed. Japanese markets were closed for a holiday. Investors were rattled last week after notes from the latest Fed…
Polish Miners Block Coal for Power Plants to Demand Pay Hike
WARSAW, Poland—Miners employed by Poland’s largest coal company blocked deliveries of the fossil fuel to state-run power plants Tuesday to demand higher pay to keep pace with surging consumer prices. Groups of protesters were stopping trains leaving the Halemba mine and other mines of the Polish Coalmining Group in the southern Silesia region. They demanded…
Ikea Confirms 10 Percent Price Hike in UK Due to Supply Chain Costs
Flatpack furniture specialist Ikea has confirmed it has increased the average price of products in its UK stores by 10 percent due to rising supply chain costs. The retailer said it has been forced to increase prices in the UK by more than the global 9% average due to “local market conditions”, including increased HGV…
ECB’s Lagarde Keeps Pushing Back on Rate Hike Bets and Hopes
November 15, 2021
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FRANKFURT—Tightening monetary policy now to rein in inflation could choke off the euro zone’s recovery, European Central Bank President Christine Lagarde said on Monday, pushing back on calls and market bets for tighter policy. With inflation already twice its 2 percent target and likely rising further later this year, the ECB is coming under increased…
Dollar Dips as Traders Focus on Rate Hike Prospects Elsewhere
October 25, 2021
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LONDON—The dollar fell on Monday back towards a one-month low as traders continued to focus on the prospect of interest rate hikes and tightening outside of the United States. Currency markets were broadly quiet at the start of the week with traders awaiting U.S. growth data and central bank meetings in the euro zone, Japan,…
Sheriff Says Family on California Hike Died of Extreme Heat
SACRAMENTO, Calif.—A Northern California family found dead on a hiking trail near the Merced River died after they overheated and ran out of drinking water on a sunny August afternoon when temperatures reached 109 degrees Fahrenheit in the steep mountain terrain, authorities said Thursday. The deaths of Jonathan Gerrish, his wife, Ellen Chung, their 1-year-old…
Dollar Drops as Rate-Hike Bets Profilerate Elsewhere, Yuan Hits 4-Month Peak
October 19, 2021
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LONDON—The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns. A robust start to the U.S. earnings season and hopes that China will be…
Money Markets Ramp Up Global Rate Hike Bets, Add Pressure on Central Banks
October 12, 2021
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LONDON—As inflationary pressures mount worldwide, money markets are charging ahead with pricing aggressive interest rate rises, in most cases betting that policy will be tightened far sooner and at a much faster pace than rate-setters are signalling. Energy prices at multi-year highs and relentless supply chain snarls have raised fears of a future inflation spike,…
OPEC+ Sticks to Plan for Gradual Output Hike, Oil Price Roars Higher
October 4, 2021
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LONDON―OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. The Organization of the Petroleum Exporting Countries, Russia, and allies, known as OPEC+, have…
Fed’s Mester Repeats First Rate Hike Could Come at the End of 2022
NEW YORK—The Federal Reserve’s conditions for raising interest rates could be met by the end of 2022, Cleveland Fed Bank President Loretta Mester said on Friday, adding that she expects inflation to come back down to the central bank’s target next year. “I think we’ll see progress in the labor market and progress on inflation…
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