Economics News Results

  • South Africa's Annual Consumer Price Inflation Rose to 3.2% in March

    JOHANNESBURG--South Africa's consumer price inflation inched up to 3.2% in March from 2.9% in February, Statistics South Africa said Wednesday, rising into the central bank's target range of between 3% and 6% annual inflation after an eight-month low. The increase was largely driven by higher food prices and rising transport costs. Food and beverage prices were up 5.7% compared to last year, while transport costs were up 3.8%.

  • Foxconn Shrinks Plans for Wisconsin Plant

    Foxconn is scaling back plans for a liquid-crystal-display plant in Wisconsin, saying it expects to invest a fraction of the $10 billion promised nearly four years ago, according to a new contract with the state. The electronics maker, formally known as Hon Hai Precision Industry Co., negotiated a new economic-development deal on Tuesday with the state of Wisconsin that was a shadow of the record-setting incentives package announced in the summer of 2017..

  • Biden to Back Temporary Extension of Larger Child Tax Credit

    WASHINGTON-- President Biden told a group of lawmakers that he intends to propose a temporary extension of an enhanced child tax credit, rebuffing requests from some Democrats who favor making the new benefit permanent. As part of a $1.9 trillion Covid-19 relief package Democrats passed earlier this year, Congress raised the child tax credit to $3,000 from $2,000, setting it at $3,600 for parents of children under age 6 and making parents of 17- year-olds eligible.

  • Existing Home Sales Seen Down, New Home Sales Expected to Rise -- Data Week Ahead

    The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Thursday 0830 Jobless Claims Apr 17 603 K 576 K 1000 Existing Home Sales Mar 6.11 M 6.22 M-- percent change -1.8% +6.6% 1000 Leading Index Mar +1.0% +0.2% 1100 Kansas City Fed Mfg Svy Apr 27 26 Composite Index Friday 0945 Markit Flash Mfg PMI Apr 60.5 59.1* 0945 Markit Flash Services...

  • Tax Bills May Go Up for Big Companies. It Will Be Hard to Tell How Much.

    U.S. companies might have to pay more in taxes to fund President Biden's $2.3 trillion infrastructure plan. How much they owe and to whom will likely remain a mystery. Public companies in America disclose their total tax payments and their tax rate.

  • SEB Names Jens Magnusson as Chief Economist

    STOCKHOLM--Skandinaviska Enskilda Banken AB (SVKEF) said Monday that Jens Magnusson, SEB's head of personal finance, has been appointed new chief economist of the bank. Magnusson will succeed Robert Bergqvist who, as previously announced, has chosen to step down from his role to instead become senior economist within SEB. Jens Magnusson and Robert Bergqvist will assume their new positions on Aug. 1..

  • Economic Growth Is Set to Surge. Hiring Might Not Keep Up.

    U.S. employers might have trouble hiring workers fast enough in coming months to keep up with the projected burst of economic growth. Consumer spending at restaurants, hotels and salons is already starting to take off as the grip of the Covid-19 pandemic eases and more people get vaccinated and draw on their stimulus checks and savings. But many economists expect economic activity to pick up faster than payrolls, at least initially, for several reasons, causing bottlenecks and...

  • When Fed Chief Talks, So Do Listeners -- and They Provide an Earful

    Federal Reserve Chairman Jerome Powell has worked hard to explain the central bank's policies to ordinary people, hoping to shore up trust at a time of wavering public faith in institutions. The effort has produced some unintended results. On Wednesday, for instance, Mr.

  • Existing Home Sales Seen Down, New Home Sales Expected to Rise -- Data Week Ahead

    The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Thursday 0830 Jobless Claims Apr 17 608 K 576 K 1000 Existing Home Sales Mar 6.03 M 6.22 M-- percent change -3.1% +6.6% 1000 Leading Index Mar +0.9% +0.2% 1100 Kansas City Fed Mfg Svy Apr 27 26 Composite Index Friday 0945 Markit Flash Mfg PMI Apr 60.5 59.1* 0945 Markit Flash Services PMI Apr 61.0 60.4* 1000 New Home Sales Mar 893 K 775 K-- percent...

  • March Hiring Surge Spanned The Country

    Hiring increased in 49 states across the country in March, with large states such as California, Texas and New York adding the most jobs. California added 119,600 last month, Texas added 99,000 and New York employment rose 63,700, the Labor Department said Friday. Alaska was the only state to shed jobs, losing about 200. Still, labor-market performance is uneven across the states, as some dealt with increases in infections while others have more fully reopened as vaccinations...

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