Month: June 2022
Fed’s Mester backs 75 basis point hike in July if conditions remain the same
Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the U.S. central bank meets to decide […]
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Europe’s plans to replace Russian gas are deemed ‘wildly optimistic’ — and could hammer its economy
A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end […]
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European Central Bank member Holzmann says there’s ample room to hike to cool surging inflation
The ECB is heading to a critical meeting in July with a rate rise expected and investors awaiting details of its new fragmentation tool. Daniel Roland | Afp | Getty Images A member of the European Central Bank told CNBC Wednesday that there’s plenty of runway to hike interest rates, following the two planned raises […]
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‘Russian terror’ killing innocent civilians, Ukraine says; NATO reaches historic deal to expand further
What to expect from this NATO summit, and what’s already happened NATO leaders are gathering Madrid to outline their vision for the West’s security agenda. Nurphoto | Getty Images The NATO summit taking place in Madrid will be a historic one, its Secretary General Jens Stoltenberg said Wednesday, with a deal on the table to […]
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ECB’s chief economist sees double-sided risk of spiraling inflation and an economic slowdown
Philip Lane, chief economist of the European Central Bank. Bloomberg | Bloomberg | Getty Images European Central Bank Chief Economist Philip Lane said the Frankfurt institution will have to remain vigilant over the coming months with the prospect of inflation spiraling ever higher alongside the risk of a consumer-led slowdown the region. “With the uncertainty, […]
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These are the most expensive places to work abroad in 2022
Hong Kong has be named the most expensive city in which to live and work overseas this year, according to a new report which highlights the impact of rising living costs and worsening macroeconomic trends on the expatriate market. The city rose one place in Mercer’s 2022 Cost of Living index to regain pole position […]
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U.S. FCC commissioner wants Apple and Google to remove TikTok from their app stores
A leader of the U.S. Federal Communications Commission said he has asked Apple and Google to remove TikTok from their app stores over data security concerns. Pictured here is the TikTok download page on an Apple iPhone on August 7, 2020. Drew Angerer | Getty Images News | Getty Images BEIJING — A leader of […]
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Australia’s retail sales beat forecasts again in May
Shoppers around Pitt Street Mall on June 7, 2022, in Sydney, Australia. Australian retail sales again beat expectations in May as consumers spent more on eating out and in department stores, suggesting demand is proving resilient in the face of surging inflation and rising interest rates. Brendon Thorne | Getty Images News | Getty Images […]
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Nissan recalls more than 300,000 SUVs in U.S. for sudden hood opening
A Nissan badge is attached to the grill of a 2013 Nissan Pathfinder on December 3, 2012 in Niles, Illinois. Nissan Motor Co is recalling more than 300,000 SUVs in the United States over an issue in which the hood suddenly opens, obstructing the driver’s view and increasing the risk of a crash. Scott Olson […]
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Shares in the Asia Pacific fall; Australia retail sales rise
SINGAPORE — Shares in the Asia-Pacific fell on Wednesday after Wall Street’s negative performance on Tuesday. Investors will also be looking forward to Japan’s consumer confidence data release. Hong Kong’s Hang Seng index declined about 1% in early trade, while the Hang Seng Tech index dropped 1.44%. In South Korea, the Kospi dropped 1.55%, while […]
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