Month: July 2022
Australia risks recession and housing downturn after third rate hike
The negative impact of interest rate rises on Australian housing prices, household spending and the volume of dwelling investments may hurt consumer confidence and fuel the likelihood of a recession in Australia, analysts and economists say. The Reserve Bank of Australia raised interest rates for the third time in a row on Tuesday. Joining central […]
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VW and Goldman-backed battery maker Northvolt gets $1.1 billion funding injection
Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty Images Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and […]
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European markets head for higher open as investors look to reverse negative slide
LONDON — European stocks are expected to open higher on Wednesday as markets look to reverse a negative slide in the previous trading session. The U.K.’s FTSE index is seen opening 79 points higher at 7,096, Germany’s DAX 159 points higher at 12,550, France’s CAC 40 up 82 points at 5,867, and Italy’s FTSE MIB 270 […]
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Manhattan apartment sales fall 30% in June, but prices remain high
FUTURE LIGHT | Photodisc | Getty Images Sales contracts for Manhattan apartments plunged by nearly a third in June as the city’s scorching real-estate market started to cool amid recession fears and declining stocks. New York real estate was on a tear through the early spring, with high prices and strong sales. The median sales […]
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Putin may propose a cease-fire after taking all of the Donbas, says analyst
With the Luhansk region under Russian control, President Vladimir Putin may now focus on seizing all of the Donbas region in eastern Ukraine before offering a cease-fire, a defense policy analyst told CNBC’s “Capital Connection” on Tuesday. “Putin [may] offer the potential for a cease-fire if only to give him[self] an opportunity to fortify the […]
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Macao locks down landmark Lisboa hotel after more than a dozen Covid-19 cases
In this 2019 photo, the Grand Lisboa casino resort towers over dilapidated buildings in Macao. Anthony Wallace | AFP | Getty Images Macao has locked down one of the city’s most famous hotels, the Grand Lisboa, after more than a dozen Covid-19 cases were found there on Tuesday, with infections spreading rapidly in the world’s […]
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The 4 most ‘recession-proof’ industries to work in, according to economists
Warnings about a looming recession have reached a fever pitch. Inflation continues to soar, causing chaos in the stock market, and companies are starting to prepare for the worst with layoffs, hiring freezes and, in some extreme cases, rescinding job offers. The sudden shift in labor market dynamics — after months of strong job prospects […]
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Ben & Jerry’s sues parent company Unilever over sale of Israeli business
According to Unilever, the industry standard for freezer temperatures in many markets stands at minus 18 degrees Celsius (around 0 degrees Fahrenheit). The temperature of freezers in the trials will be minus 12 degrees Celsius. Chris Ratcliffe | Bloomberg | Getty Images Ben & Jerry’s is suing parent company Unilever to stop the sale of […]
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Wrong time to get bullish: Top investor warns deflating tech ‘bubble’ far from over
The recent tech rally may be doomed. Money manager Dan Suzuki of Richard Bernstein Advisors warns the market is far from bottoming — and it’s a concept investors fail to grasp, particularly when it comes to growth, technology and innovation names. “The two certainties in this world of uncertainty today is that profits growth is […]
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‘Dividend aristocrats’: Strategists name high-yielding stocks to ride out a bear market
U.S. stocks fell into bear market territory last month — and the wild swings since have made it hard to predict where the market is going next. The S & P 500 logged its worst performance in 50 years during the first half of this year, as it tumbled nearly 20%, and the Nasdaq is […]
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