Consumer prices rose 0.3%, more than expected; annual rate at 3.1%
Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that […]
Moody’s Just Told You So — Downgrades Israel, Warns That Weaker US Backing for Israel, War With Hezbollah Would Trigger Crash
Yves here. Helmer continues his discussion of the high and rising cost of the war in Gaza on Israel’s economy. Helmer was early to point out that Israel’s economy can’t endure a long war, even with US economic support. Too many important sectors are taking hits with no prospect of recovery under conflict conditions, and […]
China’s biggest problem is lack of confidence: Standard Chartered CEO
DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic […]
Market Talk – February 12, 2024
ASIA: The major Asian stock markets had a negative day today: NIKKEI 225 closed Shanghai closed Hang Seng closed ASX 200 decreased 29.90 points or -0.39% to 7,614.90 Kospi closed SENSEX decreased 523.00 points or -0.73% to 71,072.49 Nifty50 decreased 166.45 points or -0.76% to 21,616.05 The major Asian currency markets had a […]
How San Francisco staged a surprising comeback
Whenever a global economic transformation takes place, a single city usually drives it forward. Ghent, in modern-day Belgium, was at the core of the burgeoning global wool trade in the 13th century. The first initial public offering took place in Amsterdam in 1602. London was the financial centre of the first wave of globalisation during […]
