Economy
Germany’s leader vows to fix a spending crisis that’s worsening gloom in the struggling economy
German Chancellor Olaf Scholz has promised quick action to fix a budget crisis after a court decision blew a large hole in the almost-finished plan for next year.
British economy flatlines in third quarter of the year, update shows ahead of budget statement
The British economy flatlined in the third quarter of the year. The Office for National Statistics said Friday that growth in the July to September period was zero compared to the previous three months.
China Premier Li seeks to bolster his country’s economic outlook at Shanghai trade fair
Seeking to generate excitement around a largely lackluster economy, Chinese Premier Li Qiang is pledging to continue deepening reforms, expand free trade zones and relax market access for foreign investment.
Small biz owners are both hopeful and anxious about the holidays, taking a cue from their customers
All signs point to a relatively solid holiday season for America’s small businesses. Yet, owners of these businesses appear to have a collective anxiety about the months ahead.
Japan’s prime minister announces $113 billion in stimulus spending
Japanese Prime Minister Fumio Kishida has announced a stimulus package of more than 17 trillion yen ($113 billion) that includes tax breaks and benefits for low-income households.
Stock market today: Asian shares rebound following latest tumble on Wall Street. Oil prices gain $1
Asian shares have risen after the latest tumble on Wall Street. U.S. futures gained and oil prices were $1 higher.
US economic growth accelerated to strong 4.9% rate last quarter as consumers shrugged off Fed hikes
The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace.
China’s economy grows 4.9% in Q3, beating expectations but slowing from previous quarter
China’s economy slowed in the summer as global demand for its exports faltered and the ailing property sector sank deeper into crisis.
Stock market today: Asian markets edge lower as China reports slower growth in the last quarter
Shares have fallen in Asia after China reported that its economy grew at a 4.9% annual pace in July-September, down from 6.3% in the previous quarter.
IMF outlook worsens for a ‘limping’ world economy. Mideast war poses new uncertainty
The International Monetary Fund warns that the world economy has lost momentum from the impact of higher interest rates, the invasion in Ukraine and widening geopolitical rifts.
A surge of hiring in September defies predictions, pointing to US job market’s enduring resilience
Friday’s report from the Labor Department suggests many companies remain confident enough to keep hiring despite high interest rates and a hazy outlook for the economy.
IMF chief says the global economy has shown resilience in the face of COVID, war and high rates
The global economy has shown remarkable resilience but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates.
Rising long-term interest rates are posing the latest threat to a US economic ‘soft landing’
Surging interest rates are intensifying the challenges for the U.S. economy and threatening to derail the Federal Reserve’s drive to tame inflation without causing a deep recession.
Bank of Japan survey shows manufacturers optimistic about economy
Business sentiment among big Japanese manufacturers improved in July-September for the second straight quarter, according to a central bank survey.
US government estimates economy grew last quarter at a 2.1% rate, unchanged from previous projection
The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged.
Interest rates will stay high ‘as long as necessary,’ the European Central Bank’s leader says
The head of the European Central Bank says interest rates will stay high long enough to restrict business activity for “as long as necessary” to beat back inflation because upward pressure on prices “remains strong.”
Worries are rising about inflated profit expectations on Wall Street
Corporate profits may have already hit bottom: After falling for much of the last year, S&P 500 companies are expected to report 0.2% profit growth for the summer.
Chinese officials voice faith in economy and keep interest rates steady as forecasts darken
Leading Chinese planners have voiced confidence in the outlook for the world’s second-largest economy, holding key interest rates steady amid signs of improvement in some areas such as services.
Germany went from envy of the world to the worst-performing major developed economy. What happened?
Germany racked up one economic success after another for most of this century. But the loss of Russian natural gas due to the war in Ukraine has dealt a severe blow to its industry through higher energy costs.
New Zealand economy to remain sluggish for 2 years, although doing better than feared, figures show
New Zealand’s economy is expected to remain sluggish for another two years, although the overall picture is rosier than many observers had feared, new figures indicate.
China’s exports and imports fall in August as weak global demand keeps its economy under pressure
Chinese exports and imports both fell in August, reflecting tepid global demand that is adding to pressures on its slowing economy.
US employers added a solid 187,000 jobs in August in sign of a still-resilient labor market
American employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed.
Business Highlights: US trims growth estimate for 2nd quarter; Biden touts efforts on drug prices
Business Highlights: A summary of the day’s top stories in the business world.
Russia earns less from oil and spends more on war. So far, sanctions are working like a slow poison
The Russian currency has stabilized after dipping below 100 rubles to the U.S. dollar — but that doesn’t mean the pressure is off Russia’s economy.
Economy’s solid growth could require more Fed hikes to fight inflation, Powell says at Jackson Hole
The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said in a closely watched speech that also highlighted the uncertain nature of the economic outlook.
Support grows for sustainable development, a ‘bioeconomy,’ in the Amazon
The Brazilian Amazon has long been home to small and mid-sized sustainable businesses that use forest nuts, fruits and other products, and it’s an incubator for new ones.
Hopeful signs of an economic ‘soft landing’ emerge in Jackson Hole as Fed meets with world watching
Business these days in Jackson Hole, Wyoming, is still good — just not as robust as it was after the U.S. economy roared out of the pandemic recession.
Biden marks 1-year anniversary of climate, health law, says ‘we’re investing in all of America’
President Joe Biden proclaims that his administration is “turning things around” for Americans when it comes to the economy.
How major US stock indexes fared Tuesday, 8/15/2023
Stocks closed broadly lower on Wall Street, capping a day of declines worldwide, after discouraging data on China raised worries about the global economy.
Stock market today: Asia shares decline as faltering Chinese economy sets off global slide
Asian shares have declined amid worries over discouraging data on China, as well as over the future of the U.S. economy.
Ruble touches 99 to the US dollar, continuing the Russian currency’s monthslong fall
The Russian ruble, steadily losing exchange value in a long fall since the beginning of the year, has hit 99 to the dollar.