Yahoo Finance Inflation falls slightly to 2.5% in Europe in June, remains stuck above levels favored by central bank
FRANKFURT, Germany (AP) — Inflation falls slightly to 2.5% in Europe in June, remains stuck above levels favored by central bank.
FRANKFURT, Germany (AP) — Inflation falls slightly to 2.5% in Europe in June, remains stuck above levels favored by central bank.
Money is rushing into Chinese government bonds, sending their prices soaring as investors hunt for a safer alternative to real estate and stocks. Beijing is worried about a bust that could bring down some banks.
TOKYO (Reuters) -Japan began circulating its first new banknotes in 20 years on Wednesday, featuring three-dimensional portraits of the founders of financial and female education institutions in an attempt to frustrate counterfeiters. The notes use printed patterns to generate holograms of the portraits facing different directions, depending on the angle of view, employing a technology that Japan's National Printing Bureau says is the world's first for paper money. "Faces of those representing Japan's capitalism, women's empowerment and technology innovation are on the new bills," Prime Minister Fumio Kishida said at a function.
SINTRA, Portugal (Reuters) -The U.S. is back on a "disinflationary path," Federal Reserve Chair Jerome Powell said on Tuesday, but policymakers need more data before cutting interest rates to verify that recent weaker inflation readings provide an accurate picture of the economy. Data for May showed the Fed's preferred measure of inflation did not increase at all that month, while the 12-month rate of price increases has ebbed to 2.6%, still above the U.S. central bank's 2% target but on the way down after a scare in the first months of the year. "We just want to understand that the levels that we're seeing are a true reading on what is actually happening with underlying inflation," Powell said at a monetary policy conference in Portugal sponsored by the European Central Bank.
BRUSSELS/LONDON (Reuters) -EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels' challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation. Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers. The issue will be put to members in an advisory vote in the coming weeks, the first official test of support in a landmark case for the Commission.
When Giorgia Meloni took to the stage to deliver a landmark tax speech to Italian legislators earlier this year, she launched an impassioned defence of how the ultra-rich should be treated.
“The slow bleed occurring in the office sector has led to a steady rise in the vacancy rate as permanent shifts in working behavior have outlasted the initial wave of the pandemic four years ago,” Moody’s said.
The number of available jobs in the US unexpectedly grew in May, signaling there’s still heightened demand for workers.
Jayon Evans*, 37, a police officer in New City, New York (which has a population of close to 35,000 people), has been utterly unimpressed with -- if not downright disgusted by -- the work of the Biden...
U.S. job openings rose in May after posting outsized declines in the prior two months, but the trend remained consistent with an easing in labor market conditions that could pave the way for the Federal Reserve to cut interest rates this year. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday showed there were 1.22 vacancies for every unemployed person in May, unchanged from April and the lowest vacancy-to-unemployment ratio since 2021. "The data are pointing to an ongoing normalization between supply and demand for labor," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.
Minutes from the Federal Reserve’s June meeting revealed confidence among central bankers that elevated interest rates were having the desired effect of cooling the economy toward a soft landing and 2-percent annual inflation. “The vast majority of participants assessed that growth in economic activity appeared to be gradually cooling, and most participants remarked that they…
Federal Reserve officials at their most recent meeting welcomed signs that inflation is slowing and highlighted data suggesting that the job market and the broader economy could be cooling. Both trends, if they continued, will likely lead the Fed to cut its benchmark interest rate in the coming months from its 23-year peak of 5.3%. The minutes of the Fed’s June 11-12 meeting, released Wednesday, showed that the policymakers saw several factors that could further ease inflation in the coming months.
BRUSSELS (Reuters) -The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels' largest trade case yet. There is however a four-month window during which the tariffs are provisional and intensive talks are expected to continue between the two sides as Beijing threatens wide-ranging retaliation. The European Commission's provisional duties of between 17.4% and 37.6% without backdating are designed to prevent what its president Ursula von der Leyen has said is a threatened flood of cheap EVs built state subsidies.
Federal Reserve Chair Jerome Powell said Tuesday the central bank needs to see better inflation readings before cutting interest rates and stimulating the economy despite “quite a bit of progress” toward price stability. “We want to be more confident that inflation is moving sustainably down toward 2 percent before we start the process of reducing…
The Institute for Supply Management said its nonmanufacturing purchasing managers (PMI) index dropped to 48.8 last month, the lowest level since May 2020, from 53.8 in May. It was the second time this year that the PMI had dropped below 50, which indicates contraction in the services sector. Economists polled by Reuters had forecast the services PMI slipping to 52.5. The PMI fell below the 49 level that the ISM says over time generally indicates an expansion of the overall economy.
Equities rose and the dollar slipped further on Thursday as investors welcomed more data pointing to a softening labour market that gives the Federal Reserve room to cut interest rates, with another key jobs report due.Adding to the feel-good factor were comments this week from Fed chief Jerome Powell, who said the battle against inflation had made "progress" and "substantial" work had been done on softening the labour market.
SEOUL (Reuters) -South Korea's government on Wednesday vowed to support small businesses and the construction sector struggling due to high interest rates in the second half of 2024, as it revised up its forecast for this year's economic growth. The government has prepared a total of 25 trillion won ($18 billion) worth of support measures, Yoon said.
The latest job openings data comes as economists have been closely tracking whether a cooldown in the labor market could spiral further.
“Because the U.S. economy is strong and the labor market is strong, we have the ability to take our time and get this right,” the Fed Chairman said on Tuesday.
World stocks clocked up more record highs on Thursday after U.S. data had narrowed the odds on a September Fed interest rate cut, while Europe was on politics watch again as UK voters headed to the polls in national elections. The July 4 holiday in the United States made for thin trading, amplified as investors tried to sit on their hands to see just how large a majority the Labour Party might get when UK vote results begin to come out late in the evening. Markets are well prepared for a change given opinion polls have for months put the centre-left party on course for a landslide victory over the Conservatives who have held power for 14 years, including both for Brexit and the COVID-19 pandemic.
On Friday morning, during the Maori New Year public holiday, a 16-year-old teen named Jason was brutally attacked on an Auckland bus by a woman wielding an iron rod. The assailant, described as a Maori woman “more than 200 kilograms," hit Jason multiple times and stabbed him in the face, knocking out five of his teeth, on board the bus after having allegedly shouted "ch*nk" at him at Johns Lane stop. Man intervenes: A 75-year-old Chinese man, Penglai Qiuyue, intervened and managed to grab the weapon, though he was also injured in the process.