UK economy to shrink in 2023, risks ‘lost decade’: CBI

UK economy to shrink in 2023, risks ‘lost decade’: CBI

LONDON, Dec 5 (Reuters) – Britain’s economy is on course to shrink 0.4% next year as inflation remains high and companies put investment on hold, with gloomy implications for longer-term growth, the Confederation of Business Industry forecast on Monday. “Britain is in stagflation – with rocketing inflation, negative growth, falling productivity and business investment. Firms … Read more

Consumer inflation in Japan’s capital rises at fastest pace in 40 years

Consumer inflation in Japan’s capital rises at fastest pace in 40 years

Tokyo Nov core CPI up 3.6% vs f’cast +3.5% Tokyo CPI stays above BOJ’s 2% target for 6th straight month Data underscores broadening inflationary pressure TOKYO, Nov 25 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and exceeded … Read more

Fed’s Bostic says he is ready to ‘move away’ from large rate increases

Fed’s Bostic says he is ready to ‘move away’ from large rate increases

WASHINGTON, Nov 19 (Reuters) – Atlanta Federal Reserve President Raphael Bostic said Saturday he is ready to “move away” from three-quarter-point rate hikes at the Fed’s December meeting and feels the Fed’s target policy rate need rise no more than another percentage point to tackle inflation. “If the economy proceeds as I expect, I believe … Read more

In final midterm push, Biden warns of threats, Trump hints at another run

In final midterm push, Biden warns of threats, Trump hints at another run

YONKERS, N.Y., Nov 6 (Reuters) – President Joe Biden warned that a Republican win in Tuesday’s midterm elections could weaken U.S. democracy, while former President Donald Trump hinted at another White House bid, two days before votes in which Republicans could gain control of both chambers of Congress. The comments, made at dueling rallies held … Read more

Europe’s debt market strains force some governments to rework trading rules

Europe’s debt market strains force some governments to rework trading rules

Oct 31 (Reuters) – Some euro zone countries have eased rules for the banks that manage the trading of their government debt to help them cope with some of the most challenging market conditions in years, officials told Reuters. Out of 11 major euro area debt agencies Reuters contacted, officials in the Netherlands and Belgium … Read more

Biden calls on oil, gas companies to stop ‘war profiteering,’ threatens windfall tax

Biden calls on oil, gas companies to stop ‘war profiteering,’ threatens windfall tax

WASHINGTON, Oct 31 (Reuters) – U.S. President Joe Biden on Monday called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week. In remarks at the White House, Biden … Read more

Inflation worries hurt U.S. consumer confidence; house prices decelerating

Inflation worries hurt U.S. consumer confidence; house prices decelerating

Consumer confidence index falls 5.3 points to 102.5 Labor market differential drops to 32.5 from 38.1 House price gains slow further in August WASHINGTON, Oct 25 (Reuters) – U.S. consumer confidence ebbed in October after two straight monthly increases amid rising concerns about inflation and a possible recession next year, but households remained keen to … Read more

Saudi Arabia ‘maturer guys’ in spat with U.S., energy minister says

Saudi Arabia ‘maturer guys’ in spat with U.S., energy minister says

OPEC+ oil output cut led to U.S., Saudi spat Saudi Arabia and U.S. “solid allies” – minister Big Wall St turnout at flagship Saudi investment summit RIYADH, Oct 25 (Reuters) – Saudi Arabia decided to be the “maturer guys” in a spat with the United States over oil supplies, the kingdom’s energy minister Prince Abdulaziz … Read more

New PM Rishi Sunak pledges to lead Britain out of economic crisis

New PM Rishi Sunak pledges to lead Britain out of economic crisis

Sunak meets King Charles on Tuesday morning Vows to rebuild trust in the country Expected to start forming a cabinet Sunak faces huge challenge to rebuild stability LONDON, Oct 25 (Reuters) – Rishi Sunak became Britain’s third prime minister in two months on Tuesday and pledged to lead the country out of a profound economic … Read more

Japan’s inflation hits 8-year high in test of BOJ’s dovish policy

Japan’s inflation hits 8-year high in test of BOJ’s dovish policy

Sept core CPI rises 3.0% yr/yr, matches forecast Core consumer inflation stays above BOJ goal for 6th month Data underscores broadening inflationary pressure BOJ seen keeping ultra-low interest rates on fragile economy TOKYO, Oct 21 (Reuters) – Japan’s core consumer inflation rate accelerated to a fresh eight-year high of 3.0% in September, challenging the central … Read more