Breaking News: Economy
Stocks making the biggest moves midday: Genuine Parts, General Motors, Verizon, Philip Morris and more
Check out the companies making headlines in midday trading: Genuine Parts — Shares fell about 20% on the back of the company’s weaker-than-expected earnings for the third quarter. During the period, Genuine Parts earned $1.88 per share, excluding items, below the $2.42 per share that analysts polled by FactSet were expecting. It also slashed its […]
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IMF says global fight against inflation is ‘almost won’ but warns of rising risks
Much of the world has managed to successfully lower inflation and engineer an economic soft landing, avoiding recession, but faces rising geopolitical risks and weaker long-term growth prospects, according to the International Monetary Fund. Global headline inflation will fall to 3.5% on an annual basis by the end of 2025, from an average 5.8% in […]
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IMF hikes UK growth outlook amid lower inflation and interest rates
General view of the City of London skyline, the capital’s financial district, in October. Sopa Images | Lightrocket | Getty Images LONDON — The International Monetary Fund on Tuesday raised its 2024 growth outlook for the United Kingdom, saying declines in interest rates and inflation would boost domestic demand. The IMF now sees 1.1% growth […]
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Economists see UK cutting interest rates more substantially as inflation pressures ease
Bank of England in the City of London on 8th October 2024 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images LONDON — The U.K. is likely to see interest rates drop at a faster pace than previously expected, according to economists who flagged key data releases that indicated inflationary pressures are […]
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Stocks making the biggest moves premarket: Boeing, Kenvue, Humana, Warby Parker and more
Check out the companies making headlines before the bell. Kenvue – The consumer health company jumped more than 8% after the Wall Street Journal said activist investor Starboard Value has taken a stake in the Johnson & Johnson spinoff . Boeing – Shares added 3.3% after the aircraft maker and its machinists’ union reached a […]
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Here’s why inflation may look like it’s easing but is still a huge problem
A family shops for Halloween candy at a Walmart Supercenter on October 16, 2024 in Austin, Texas. Brandon Bell | Getty Images Just because the Federal Reserve is nearing its inflation goal doesn’t mean the problem is solved, as the high price of goods and services across the U.S. economy continues to pose a burden […]
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Putin says BRICS, not the West, will drive global economic growth
Russian President Vladimir Putin attends the BRICS Business Forum in Moscow, Russia October 18, 2024. Alexander Zemlianichenko | Via Reuters The BRICS group will generate most of the global economic growth in the coming years thanks to its size and relatively fast growth compared with that of developed Western nations, Russian President Vladimir Putin said […]
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U.S. deficit tops $1.8 trillion in 2024 as interest on debt surpasses trillion-dollar mark
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023. Nathan Howard | Bloomberg | Getty Images The Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday. Even with a modest […]
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IMF chief warns ‘not yet time to celebrate’ as low growth and high debt weigh on global economy
The head of the International Monetary Fund cautioned on Thursday that high debt and low growth remained major impediments to the global economy. IMF Managing Director Kristalina Georgieva told CNBC that while notable progress had been made in the global economic recovery, governments had become too accustomed to borrowing, with “anemic growth” adding to the […]
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Retail sales rose 0.4% in September, better than expected; jobless claims dip
Consumer spending held up in September, underscoring a resilient economy that is now getting a boost from the Federal Reserve, the Commerce Department reported Thursday. Retail sales increased a seasonally adjusted 0.4% on the month, up from the unrevised 0.1% gain in August and better than the 0.3% Dow Jones forecast, according to the advance […]
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