Breaking News: Economy
‘Economic refugees’ flee from New Zealand as cost-of-living crisis deepens
Once recognized by the world as a picturesque and progressive safe haven, New Zealand’s frail economy has pushed many of its citizens to leave the country. Amid high prices, steep interest rates and elevated unemployment, the government recently estimated that 131,200 people fled the country in the past 12 months through June, a record high. […]
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Stocks making the biggest moves after hours: Broadcom, DocuSign, UiPath and more
Check out the companies making headlines in after-hours trading: DocuSign — The e-signature software company ticked up nearly 1% after posting a top- and bottom-line beat. DocuSign’s adjusted earnings of 97 cents per share for the second quarter exceeded analysts’ expectations of 80 cents per share, according to LSEG. DocuSign’s revenue of $736 million also […]
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Friday’s jobs report for August is going to be huge. Here’s what to expect
Andreypopov | Istock | Getty Images Wall Street is gearing up for one of the most important economic releases of the year Friday, when the Labor Department puts out a jobs report expected to go a long way in determining the future of Federal Reserve policy. The Wall Street consensus is for nonfarm payrolls growth […]
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JPMorgan top economist says the Fed should cut rates by a half point this month
Key Points JPMorgan’s top economist Michael Feroli believes the Federal Reserve should cut interest rates by a half point this month. Traders are pricing in a 39% chance that the Fed’s target range for the federal funds rate will be lowered by a half percentage point, per the CME FedWatch Tool. Feroli’s remarks come as […]
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Here’s where American Airlines is adding flights to Europe in summer 2025
Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. JanValls | Nurphoto | Getty Images As social media feeds make their seasonal shift from the Parthenon to pumpkin patches, airlines are busy preparing for the 2025 Europe travel season, a bet that strong demand for international […]
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Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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Atlanta Fed President Bostic says officials can’t wait for inflation to hit 2% before cutting
speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank’s target. Previously one of the more hawkish policymakers, or in favor of tighter policy to […]
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Job openings fell more than expected in July in another sign of labor market softening
Job openings slumped to their lowest level in three and a half years in July, the Labor Department reported Wednesday in another sign of slack in the labor market. The department’s closely watched Job Openings and Labor Turnover Survey showed that available positions fell to 7.67 million on the month, off 237,000 from June’s downwardly […]
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Oil prices extend slump on likely restoration of Libyan production, OPEC+ plans to raise output
Oil pumpjacks operate as the Lake Fire burns in Los Padres National Forest with evacuation warnings in the area on July 6, 2024 near Los Olivos, California. Mario Tama | Getty Images Oil prices extended declines during Asia trading hours, after a report that Libya’s oil production was set to be restored pressured prices overnight. […]
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Weak manufacturing measures raise specter of U.S. economic slowdown
Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters U.S. factories remained in slowdown mode in August, fueling fears about where the economy is headed, according to separate manufacturing gauges. The Institute for Supply Management monthly survey of purchasing managers […]
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