Massive Layoffs At Major New Jersey Corporations a Bad Look for Governor Murphy, Economy Touting Dems
TRENTON, N.J. — Thousands of jobs across New Jersey are set to be eliminated, according to Worker Adjustment and Retraining Notification (WARN) notices filed by major employers in the state. The layoffs,…
EU’s biggest economy Germany blocked Russian coal ban, sources say
By Francesco Guarascio BRUSSELS – In the early stages of sanctions drafting against Moscow, one idea gained traction in Brussels – a ban on the import of Russian coal – until the…
Japan’s March economy report flags inflation risk from Ukraine war
TOKYO – Japan needs to closely watch downside economic risks from rapid commodity inflation caused by the war in Ukraine and its disruption to the global energy supplies, the government said in…
BOJ’s Kataoka says weak yen positive for economy
TOKYO – Bank of Japan (BOJ) board member Goushi Kataoka said on Thursday a weak yen was positive for the economy, with the damage due to rising import costs likely very small.…
Egypt requests IMF support as economy buffeted by Ukraine spillover
CAIRO -Egypt has asked for the International Monetary Fund’s support to implement a comprehensive economic programme, the IMF said on Wednesday. Continued exchange rate flexibility would be essential to absorb external shocks,…
‘Gloomy’ Dutch consumers hit by pessimism about economy, war in Ukraine
– Dutch consumer confidence deteriorated in March due to growing pessimism about the economy and the war in Ukraine, the Dutch Statistics Office CBS announced on Wednesday. The indicator dropped from -30…
Ukraine conflict likely to weigh on Serbian economy, IMF says
BELGRADE – The war in Ukraine is expected to weigh on Serbia’s economy, presenting global problems such as supply chain disruptions and higher commodity prices, the International Monetary Fund said on Tuesday.…
China Jan-Feb fiscal spending quickens in fight to support slowing economy
BEIJING – China’s fiscal spending rose 7.0% in January-February from a year earlier, the finance ministry said on Friday, quickening from a 0.3% rise in 2021 as policymakers step up support for…
Norway economy faces negative impact from Ukraine war, statistics agency says
OSLO – The Norwegian economy has recovered from the coronavirus pandemic but now faces a negative impact from Russia’s invasion of Ukraine, Statistics Norway (SSB) said as it released fresh forecasts on…
China stocks leap after State Council pledges support for economy, capital markets
SHANGHAI – Hong Kong stocks jumped 9% on Wednesday to mark their best day since 2008, after China’s top policymaker assured markets of stability and support and helped put a floor under…
Philippines sees Ukraine conflict having ‘temporary’ impact on economy
MANILA – The impact of the Russia-Ukraine conflict on the Philippine economy is expected to be temporary, Economic Planning Secretary Karl Chua told a media briefing on Tuesday. “We have a very…
Analysis-Fallout of Ukraine war exposes Turkey’s vulnerable economy
By Can Sezer and Orhan Coskun ISTANBUL – President Tayyip Erdogan’s wager that Turkey could ride out an inflation and currency shock with low rates and reserves has all but collapsed, after…
Russian economy in ‘shock’ from unprecedented economic war – Kremlin
– The Kremlin said on Thursday that Russia’s economy was experiencing a shock and that measures were being taken to soften the impact of what it described as an “absolutely unprecedented” economic…
China’s economy resilient despite uncertainties caused by Ukraine crisis – state planner
BEIJING – China’s economy remains resilient despite rising uncertainties caused by the Ukraine crisis, the country’s state planner said on Monday. China will enhance policy coordination and speed up the roll-out of…
NY Fed’s Williams says U.S. economy not in stagflation scenario
By Jonnelle Marte – Russia’s invasion of Ukraine adds uncertainty to the U.S. economic outlook and may boost near-term inflation, but household savings and strong economic growth should help limit the damage,…
Brazil economy minister backs bigger cooking gas subsidies as crude costs soar -sources
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict,…
EXCLUSIVE: Economy Committee Republicans Urge Biden To Reverse Policies Ahead Of State Of The Union
Republicans on the House Select Committee on the Economy issued a joint statement Monday, slamming the Biden administration’s “failed economic policies.” Led by Ranking Member Bryan Steil of Wisconsin, the committee’s entire…
Ukraine war risks to U.S. economy hinge on conflict length-White House adviser
WASHINGTON – White House economic adviser Cecilia Rouse said on Monday that the biggest U.S. economic risk from Russia’s invasion of Ukraine is from higher gasoline prices, and the depth of the…
Factbox-EU sanctions target Russia’s economy, elites and Putin himself
– The European Union has imposed several packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”, with some measures the bloc has never applied before and…
Sanctions hit will see Russia economy contract 20% Q/Q in second quarter – JPMorgan
LONDON – Russia’s economy is expected to contract 20% in the second quarter and by around 3.5% for the full year following intensified sanctions, JPMorgan said on Monday. “If these new sanctions…
Australia retail sales rebound in Jan as economy weathers Omicron
By Wayne Cole SYDNEY – Australian retail sales were surprisingly strong in January as shoppers weathered a surge in Omicron cases with aplomb, suggesting the economy maintained considerable momentum into the new…
Factbox: EU sanctions target Russia’s economy, elites and Putin himself
– The European Union has imposed two packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”. Further sanctions, including the suspension of Russia’s access to the…
Russia says sanctions will make borrowing more expensive -economy minister
MOSCOW – Economy Minister Maxim Reshetnikov on Friday said Russia was studying the long-term implications of new sanctions and admitted that the measures imposed would make borrowing more expensive. He also said…
Factbox-How the Ukraine conflict could affect the U.S. economy
By Ann Saphir, Jonnelle Marte and Lindsay Dunsmuir – Federal Reserve policymakers on Thursday signaled the conflict in Ukraine will not budge them from their expected course of rate hikes ahead. But…
EU imposes sanctions on Russian ministers of defense, economy
– The European Union said on Wednesday it had imposed sanctions on a number of senior Russian officials, including Defence Minister Sergei Shoigu and Economy Minister Maxim Reshetnikov, after Moscow recognized the…
Russia sanctions would only have limited impact on French economy -Le Maire
PARIS – French Finance Minister Bruno Le Maire said on Wednesday that the sanctions imposed by the Western countries on Russia for ordering troops into separatist regions of eastern Ukraine would have…
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