US Treasury secretary Janet Yellen said the move by Opec+ to cut oil production was “unhelpful and unwise” for the global economy, particularly emerging markets already struggling with high energy prices. The Biden administration has been loudly critical of the decision by the oil cartel backed by Saudi Arabia and Russia this week, which took...Read More
Oct 8 (Reuters) – Ukraine’s economy shrank by an estimated 30% in the first three quarters of 2022 compared with the same period in 2021, largely due to Russia’s invasion, the economy ministry said on Saturday. Bad weather in September that slowed the pace of harvesting also played a role, as did interruptions in supply...Read More
The US dollar index began the week on a weak note. The index fell breaking below the support at 111.50 and made a low of 110.05 on Tuesday. However, a sharp rise in the US Treasury yields aided the dollar index to reverse higher from the low. The rise indeed gathered momentum on Friday after...Read More
HYWARDS/iStock via Getty Images Reversing the gains from earlier in Q3, September’s market rout brought U.S. and global equity indexes back into bear market territory. Uncertainty, volatility, and recession risk are elevated, but investors should keep in mind that innovations and opportunities often emerge from periods of volatility. Recessions are typically the shortest part of...Read More
On Friday’s episode, Business Arena’s host David Kennedy kicked off the show with the main stories, which were: gas futures prices dropping down over 11 percent and an increase in the number of Chinese companies blacklisted in the US. Gas futures prices have gone down over 11 percent from their peak in August. News of...Read More
Happy Friday, readers. Hallam Bullock here, reporting from London. There’s a key US jobs report dropping at 8:30 a.m. today. It may seem like nonfarm payrolls have been a B-list macro datapoint since the Consumer Price Index has taken the spotlight all year, but the September report is of particular importance. The Fed will be...Read More
Waco’s economy in August apparently did not get the message that a recession threatens. Spending topped $453 million, the jobless rate dipped to 3.7% and permits to build commercial and industrial buildings totaled $170 million, the highest one-month total since Amazon built its fulfillment center. But not all is rosy, according to Karr Ingham, a...Read More
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