BERLIN—Rocketing electricity prices are increasing the cost of driving electric vehicles in Europe, in some cases making them more expensive to run than gas-powered models—a change that could threaten the continent’s electric transition. Electricity prices have soared in the wake of Russia’s invasion of Ukraine, in some cases eliminating the cost advantage at the pump … Read more
Gold prices could surge to $4,000 per ounce in 2023 as interest rate hikes and recession fears keep markets volatile, said Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital. The price of the precious metal could reach between $2,500 and $4,000 sometime next year, Kiener told CNBC’s “Street Signs Asia” on … Read more
L ondon recorded the slowest rate of annual house price growth of any UK region in 2022, new data has revealed, while prices began to take a dip in the fourth quarter as rising mortgage rates and squeezed incomes pushed up the cost of getting a new home for first-time buyers. House prices in the … Read more
China’s November retail sales see significant miss China’s industrial production for November grew 2.2%, after seeing a growth of 5% in October, according to official data. That’s lower than expectations for growth of 3.6% in a Reuters survey. Retail sales fell 5.9% on an annualized basis, further than expectations of a decline of 3.7% in … Read more
Stocks were little changed on Wednesday as investors absorbed the Federal Reserve’s latest interest rate hike decision in its efforts to crush inflation. The Dow Jones Industrial Average fell 81 points, or 0.24%. The Dow was higher by 287 points earlier in the day. The S&P 500 dipped 0.31%, while the Nasdaq Composite declined 0.35%. … Read more
An extraordinary plan to cap coal and gas prices in an attempt to rein in power bills next year has enough support to pass federal parliament, with the Greens committing to backing the proposal. Key points: Legislation to introduce power-price caps and energy-bill relief has enough support to pass parliament Parliament will be reconvened on Thursday to … Read more
Stock futures were flat Tuesday evening as investors await the Federal Reserve’s latest interest rate hike decision in its effort to crush inflation, set to be delivered on Wednesday. Dow Jones Industrial Average futures rose 4 points, or 0.01%. Futures tied to the S&P 500 and the Nasdaq 100 ticked up 0.01% and down 0.02%, … Read more
Stocks rose Tuesday after the release of new U.S. inflation data, while traders awaited a key Federal Reserve policy decision. The Dow Jones Industrial Average climbed 103.60 points, or 0.3%, to 34,108.64. The S&P 500 added 0.73% to 4,019.65. The Nasdaq Composite rose 1.01% to 11,256.81. Earlier in the session, the Dow was up as … Read more
Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020. Kiyoshi Ota | Bloomberg via Getty Images Asia-Pacific shares opened in positive territory as investors look ahead to a highly anticipated Federal Reserve meeting and U.S. CPI data … Read more
Delivery companies Grubhub and DoorDash Inc. DASH 2.33% are pushing for enactment of a bill in New York City that would amend the city’s cap on the fees they can charge restaurants—a measure the companies say is urgent as a new minimum wage for delivery workers takes effect next year. Grubhub retained a former state … Read more