Big US banks gird for ‘mild recession’
Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a “mild recession,” with inflation and interest rate hikes challenging households and businesses.
US eyes ‘extraordinary measures’ to avoid default
The US Treasury Department said Friday it will likely begin “extraordinary measures” next week to prevent a default on government debt, setting up a high-stakes showdown in Congress over raising the nation’s borrowing limit.
US inflation to ease further
Consumer inflation in the United States is set to ease further in December, analysts say, in an encouraging trend that could bring some reprieve from rising interest rates.
Oil price rises by $3 per barrel
Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports.
US consumer confidence jumps in Dec: survey
Consumer confidence in the US economy spiked in December, bouncing more than expected as inflation expectations dipped and gas prices cooled, survey data showed on Wednesday.
Fed may push rates higher, keep them there longer
Federal Reserve policymakers may need to lift US borrowing costs above the peak 5.1 per cent they penciled in just this week and keep them there perhaps into 2024 to squeeze high inflation out of the economy, three of them signaled on Friday.
Big US banks gird for ‘mild recession’
Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a “mild recession,” with inflation and interest rate hikes challenging households and businesses.
US eyes ‘extraordinary measures’ to avoid default
The US Treasury Department said Friday it will likely begin “extraordinary measures” next week to prevent a default on government debt, setting up a high-stakes showdown in Congress over raising the nation’s borrowing limit.
US inflation to ease further
Consumer inflation in the United States is set to ease further in December, analysts say, in an encouraging trend that could bring some reprieve from rising interest rates.
US banks get ready for shrinking profits
US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking.
Dollar slips near seven-month lows
The US dollar on Monday neared its lowest in seven months against other major currencies, after data last week suggested the Federal Reserve could slow the pace of its rate hikes, while China re-opening its borders boosted riskier currencies.
US trade deficit narrows to smallest since late 2020
The US trade deficit narrowed more than anticipated in November on a fall in imports, government figures showed on Thursday, with drops seen in pharmaceuticals and household goods.
Auto industry races into metaverse at US tech show
Allowing the driver of an autonomous vehicle to watch a movie, a dealer to sell automobiles from a “virtual” car lot, or an engineer to simulate how a new part fits: the auto industry is getting a tantalizing taste of the metaverse at the huge CES technology show.
US job gains robust in Dec
US job gains exceeded expectations in December while unemployment ticked down, a closely-watched government report said Friday, in a sign the labor market remains hotter than hoped by policymakers seeking to lower inflation.
US retail sales grow 7.6% in holiday season
US retail sales rose 7.6 per cent between November 1 and December 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday.
Dollar edges up but sentiment frail
The dollar edged up yesterday, pulling away from recent six-month lows against a basket of major currencies, for now.