Shoppers walk through the rain on Oxford Street in London. Tolga Akmen/AFP/Getty Images The UK economy contracted in the second quarter of 2022, as the country’s cost-of-living crisis hit home. Official figures published Thursday showed that gross domestic product (GDP) shrank by 0.1% quarter on quarter in the second three months of the year, less … Read more
LONDON — European markets are mostly expected to nudge higher on Thursday as investors adjust their monetary policy expectations after a cooler-than-expected US inflation print. Britain’s FTSE 100 is expected to slip around 2 points lower to 7,505, but Germany’s DAX is seen around 66 points higher at 13,765 and France’s CAC 40 is set … Read more
A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City, US, June 10, 2022. Andrew Kelly | Reuters If inflation has been the biggest threat to US economic growth, then July’s data should provide signs that there’s at least some relief in the pipeline. Prices were flat … Read more
A woman shops in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation may finally be cooling, thanks to falling gasoline prices and fading supply chain issues. Economists expect July’s consumer price index rose 0.2%, down from 1.3% in June, according to Dow Jones. … Read more
Pakistan’s finance minister said the government has taken steps that will put the country on the right track and help the South Asian nation avoid an economic collapse. But that will cause pain for its people, he added. The country is desperately fighting for its survival as the recent rise in commodity and energy prices … Read more
SINGAPORE — Asia-Pacific shares fell on Wednesday as investors digest inflation data from China and look ahead to the US CPI report. Mainland China markets slipped, with the Shanghai Composite fractionally lower and the Shenzhen Component down 0.32%. China’s producer price index for July rose 4.2% from a year ago, lower than the 4.8% increase … Read more
Pensioners protest over rising fuel prices at a demonstration outside Downing street called by The National Pensioners Convention and Fuel Poverty Action on February 7, 2022 in London, England. Guy Smallman | Getty Images Political instability, trade disruptions, an energy crisis and skyrocketing inflation are rendering the UK an “emerging market country,” according to Saxo … Read more
Asian exporters will face significant challenges as demand from major markets like the US, Europe and China slow down in the coming months, according to the chief Asia economist of HSBC. Manufacturers in Europe are already pulling back quite significantly, namely in Germany, Frederic Neumann told CNBC’s “Squawk Box Asia” on Monday. “Remember that Europe … Read more
Investors should eschew chasing recent rallies in stocks and bonds given the current economic uncertainty, according to the chief investment officer of Swiss asset manager Prime Partners. Francois Savary said it was hugely difficult to have clear economic visibility due to the particulars of the current investment cycle, such as the Covid-19 recovery and the … Read more
Washington’s efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco. And, he believes this week’s key inflation data will help prove it. “I don’t see anything that will reduce the inflation rate. There are some things that might reduce prescription drug prices and maybe a couple of other … Read more