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Tokyo, Sydney, Seoul, Singapore, Jakarta and Wellington all rose, but Hong Kong, Shanghai and Manila sank HONG KONG, China (AFP) — Asian markets were mixed Tuesday with confidence at a premium as traders contemplate the prospect of more Federal Reserve interest rate hikes and a possible recession. Wall Street suffered another day in the red after Friday’s capitulation in response to a warning from US central bank boss Jerome Powell that more tightening was needed […]
HONG KONG, China (AFP) — Markets sank Monday and the dollar rallied after Fed boss Jerome Powell warned of more interest rate hikes to fight inflation and poured cold water on the prospects of a cut in the new year. The hefty selling tracked a painful day on Wall Street, where all three main indexes tanked between three and four percent as investors contemplated an extended period of monetary tightening. In a much-anticipated speech […]
Tokyo, Japan (AFP) Japanese auto giant Honda and South Korean battery maker LG Energy Solution announced a joint venture Monday to invest $4.4 billion in a new US electric car battery plant. The move comes after California last week ruled that all new cars sold in America’s most populous state must be zero-emission from 2035, with other US states expected to follow suit. In a joint statement, the firms said they expected construction of the […]
by Roland JACKSON Agence France Presse NEW YORK, United States (AFP) — European natural gas prices climbed Thursday towards a record peak on heightened fears over Russian supplies, while equities rose on the eve of a key speech from Federal Reserve Chair Jerome Powell. Europe’s benchmark Dutch TTF gas contract advanced to 322 euros per megawatt hour, not far from the record high 345 euros struck in March shortly after key gas producer […]
BERLIN, Germany (AFP) — German consumer confidence is at rock-bottom as Europe’s biggest economy faces the prospect of huge energy bills heading into the winter, a key survey showed on Friday. Pollster GfK’s forward-looking barometer fell to minus 36.5 points for September, the lowest level since its records began in 1991, following a revised August reading of minus 30.9 points. “The sharp rise in the propensity to save this month is causing the consumer […]
by Roland JACKSON Agence France-Presse NEW YORK, United States (AFP) — European natural gas prices climbed Thursday towards a record peak on heightened fears over Russian supplies, while equities rose on the eve of a key speech from Federal Reserve Chair Jerome Powell. Europe’s benchmark Dutch TTF gas contract advanced to 322 euros per megawatt hour, not far from the record high 345 euros struck in March shortly after key gas producer Russia invaded Ukraine. […]
London, United Kingdom (AFP) by Roland JACKSON European natural gas prices climbed Thursday towards a record peak on heightened fears over Russian supplies, while equities marked time on the eve of a key speech from Federal Reserve chair Jerome Powell. Europe’s benchmark Dutch TTF gas contract advanced to 318 euros per megawatt hour before paring gains. That was not far from the record high 345 euros struck in March shortly after key gas producer Russia […]
Washington, United States (AFP) The American economy contracted in the April-June quarter but not as much as initially reported, as revised data showed stronger US exports and spending, according to government data released Thursday. Second quarter GDP fell 0.6 percent, annualized, less than the 0.9 percent drop the Commerce Department announced in the initial estimate last month. Coming after the steep 1.6 percent contraction in the first quarter, the data still feeds concerns about a […]
London, United Kingdom | AFP | The euro dived to a new two-decade low against the dollar and European stock markets fell Tuesday as weak economic data raised fears of recession amid an energy crunch. The single currency tumbled to $0.9901, but later clawed back losses to return above parity with the dollar in afternoon trading as the greenback was hit by poor US economic data. The dollar had strengthened this week against other currencies […]
LONDON, United Kingdom (AFP) — World stocks mostly sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans to combat runaway inflation. Eurozone equities also tanked as spiking natural gas prices sparked fears that winter energy shortages could spark recession, helping push the euro back under parity against the greenback. Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused […]
BEIJING, China (AFP) — China’s central bank on Monday cut benchmark loan rates in an attempt to boost an economy battered by the government’s strict zero-Covid policy and a slump in the property market. The world’s second-biggest economy saw an improvement after some coronavirus restrictions eased in June, but consumer and business sentiment remains weaker than usual. The one-year Loan Prime Rate, which serves as a benchmark for corporate loans, was reduced from 3.7 percent […]
by Ali BEKHTAOUI Agence France-Presse PARIS, France (AFP) — This year was supposed to confirm the world economy’s comeback from the Covid pandemic crisis. Instead, the six-month-old war in Ukraine has sparked fears of recession. – Two ‘small’ economies rattle world – “Six short months ago the macro landscape was markedly different from today,” the financial data firm S&P Global said in a recent report. Both the United States and eurozone economies were expected […]
