Economics News Results

  • U.S. new vehicle prices to scale record high in June - report

    The cost of buying a new vehicle in the United States is set to hit an all-time high in June as automakers faced with raw material shortages ramp up prices to cater to healthy demand, an industry report showed on Friday.

  • Baltic index posts weekly fall on weakness across vessels

    The Baltic Exchange's main sea freight index fell on Friday and registered a weekly fall, pressured by a drop in rates across vessel segments. * The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 23 points, or about 1%, to 2,331. * The index was down 9.6% for the week. * The capesize index lost 23 points, or 1%, to 2,396.

  • Reading the market tea-leaves for global recession risks

    The fastest rate-hiking cycle in decades and inflation nearing double-digits has got investors scouring market moves and data to gauge whether the world economy is headed for recession. Business activity is slowing, many stock indexes are in "bear" territory, while higher borrowing costs are squeezing corporate and consumer spending.

  • Australian central bank eyes quarter- or half-point hike - Lowe

    The Reserve Bank of Australia will likely discuss interest rate hikes of 25 or 50 basis points at its next policy review as it seeks to battle inflation, Governor Philip Lowe said on Friday.

  • GRAPHIC -Reading the market tea-leaves for global recession risks

    The fastest rate-hiking cycle in decades and inflation nearing double-digits has got investors scouring market moves and data to gauge whether the world economy is headed for recession. Business activity is slowing, many stock indexes are in "bear" territory, while higher borrowing costs are squeezing corporate and consumer spending.

  • Brazil's consumer prices rise more than expected in mid-June

    Brazilian consumer prices rose slightly more than expected in the month to mid-June, statistics agency IBGE said on Friday, with Latin America's largest economy struggling to rein in high inflation even as its central bank pushes ahead with interest rate hikes.

  • Central banker Lowe does not expect recession in Australia

    Australia's most senior central banker does not expect the country to slip into a recession as it tackles high inflation, he told an event in Zurich on Friday. "There's a huge amount of resilience in the Australian economy," Reserve Bank of Australia Governor Philip Lowe said. "There is a path for inflation to come down without too much pain, but it's a narrow path," he said.

  • German business sentiment clouds over but no sign of recession - Ifo

    German business morale fell more than expected in June but a recession was not yet in sight despite rising energy prices and the threat of gas shortages, a survey showed on Friday. The Ifo institute said its business climax index dropped to 92.3 following a reading of 93.0 in May, when the closely watched indicator posted a surprise recovery despite the economic impact of the Russia-Ukraine war.

  • FOREX-Dollar stumbles as markets rethink interest rate path

    The U.S. dollar slipped on Friday and headed for its first weekly decline of June as traders dialled down bets on where interest rates might peak and brought forward the timing of rate cuts to counter a possible recession. A significant shift this week has been the fall in oil and commodity prices, which has eased inflation fears and allowed equity markets to rebound.

  • Danish lawmakers agree cash handout to elderly to offset inflation

    Danish lawmakers have agreed a cash handout to the elderly and other measures totalling 3.1 billion Danish crowns to cushion the impact of soaring inflation and high energy prices, the finance ministry said on Friday. Elderly people on low incomes will each receive a tax-free handout of 5,000 crowns, it said.

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