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,…
Ford says US fuel economy plan threatens ‘substantial economic hardship’
WASHINGTON (Reuters) – Ford Motor Co said the Biden administration’s proposal to drastically hike fuel economy standards through 2032 threatens “substantial economic hardship.” The automaker told the National Highway Traffic Safety Administration…
Australia central bank sees challenging economy, inflation risks
SYDNEY (Reuters) – The head of Australia’s central bank on Wednesday said the domestic economy was in a “challenging” situation with consumption slowing but inflation still elevated, and monetary policy was on…
Walmart staffed up for holidays; US retailers cautious about economy
By Siddharth Cavale NEW YORK (Reuters) – Walmart signaled it has enough staff for the holidays, in another sign that top U.S. retailers, fearing a seasonal shopping slowdown, are holding off on…
German economy expected to shrink slightly in Q3 – econ ministry
BERLIN (Reuters) – Germany’s economy is seen as shrinking slightly in the third quarter as the global economic slowdown, money tightening and energy prices slow its expected recovery, the economy ministry said…
French economy to grow modestly in third, fourth quarters -INSEE
PARIS (Reuters) – France is on course for modest economic growth heading into the end of the year as lower food inflation offers consumers some relief, the INSEE official statistics agency said…
South Africa’s economy expected to improve into 2024 – Reuters poll
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s economic growth is expected to pick up slightly next year due to better energy supply, a Reuters poll found, while slowing inflation might give…
ECB can aim for soft landing for economy – Villeroy
MARRAKECH, Morocco (Reuters) -The European Central Bank should aim to engineer a “soft landing” for the euro zone’s economy, as long as it is confident that inflation will keep falling towards its…
BoE’s Dhingra says economy has ‘already flatlined’ – BBC
(Reuters) – Bank of England policymaker Swati Dhingra said the economy has already flatlined and about 20% or 25% of the impact of interest rate hikes has fed through to the economy,…
Fed’s Collins says economy has yet to feel full impact of Fed rate hike cycle
NEW YORK (Reuters) – Federal Reserve Bank of Boston President Susan Collins on Wednesday said central bank rate rises are still working through the economy. “I don’t think that we have seen…
German economy expected to contract 0.4% in 2023 – economy ministry
BERLIN (Reuters) – The German government expects the economy to shrink by 0.4% this year due to persistent inflation, high energy prices and weak international trade, the economy ministry said on Wednesday,…
Yellen sticks to view U.S. economy headed for soft landing
By Andrea Shalal MARRAKECH, Morocco (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday she continued to expect the U.S. economy would have a soft landing, even though the conflict between Israel…
New Zealand’s economy poses challenge for election victor
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s major parties have promised voters cost-of-living relief if they win Saturday’s general election, but there is one major obstacle – a central bank that…
Imperative for Italy to control public spending, economy minister says
By Giuseppe Fonte ROME (Reuters) – Italy’s economy minister said on Tuesday strict control of public spending was essential as the European Union prepares to restore tough fiscal rules next year that…
Putin says Russia’s economy can cope with higher defence spending on war
MOSCOW (Reuters) – The Russian economy can cope with higher military spending to fund the war in Ukraine now and in the coming years, President Vladimir Putin said on Thursday, shrugging off…
World Bank sees Saudi economy contracting in 2023, MENA growth sharply lower
By Rachna Uppal DUBAI (Reuters) – The World Bank expects Saudi Arabia’s economy to contract by 0.9% in 2023, it said in a report on Thursday, revising its growth forecast for the…
Canadian dollar seen rebounding as U.S. ties anchor domestic economy: Reuters poll
By Fergal Smith TORONTO (Reuters) – Analysts are sticking to their bullish forecasts on the Canadian dollar for the coming year, maintaining that the currency is undervalued and could benefit from Canada’s…
Ukraine’s economy set to continue to grow next year, deputy head of IMF mission
KYIV (Reuters) – Ukraine’s economy is adapting well to the wartime environment following Russia’s invasion and growth will continue next year, the deputy head of an International Monetary Fund mission said on…
Japan’s economy running at near full capacity, BOJ estimates show
By Leika Kihara TOKYO (Reuters) – Japan’s economy has recovered and is running near its full capacity in the second quarter, data from the central bank showed on Wednesday, adding to growing…
Fed’s Mester open to another rate hike if economy stays on current path
By Michael S. Derby NEW YORK (Reuters) – Cleveland Federal Reserve President Loretta Mester said on Tuesday she is open to raising interest rates again, potentially at the U.S. central bank’s next…
Japan’s economy minister says authorities must ensure end to deflation
By Yoshifumi Takemoto and Tetsushi Kajimoto TOKYO (Reuters) – Japan is no longer in deflation but policymakers need to ensure prices do not slide back into contraction, economy minister Yoshitaka Shindo said…
German Chancellor says economy is facing cyclical downturn- Wirtschaftswoche
BERLIN (Reuters) – The cyclical weakness of the German economy shouldn’t be perceived as a structural problem, German Chancellor Olaf Scholz said on Thursday in an interview with business weekly Wirtschaftswoche. “It…
Euro zone 2024 fiscal tightening seen limited by slowing economy
By Jan Strupczewski BRUSSELS (Reuters) – Euro zone governments will try to bolster their public finances next year by withdrawing expensive energy price subsidies but slower economic growth and fear of angering…
German firms less willing to hire amid lacklustre economy -Ifo
BERLIN (Reuters) – German companies’ willingness to hire new staff took a hit in September, data from the Ifo Institute showed on Wednesday, underlining recession fears in Europe’s largest economy. The metric…
The elusive Fed ‘soft landing’ nears. Why are Americans so mad about the economy?
By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve Chair Jerome Powell said emphatically last week that people “hate inflation, hate it,” but he left another fact unspoken – they also punish…
Fed’s Goolsbee: High inflation remains the “bigger risk” to the economy
By Howard Schneider WASHINGTON (Reuters) – Inflation staying stuck above the Fed’s 2% target remains a greater risk than tight central bank policy slowing the economy more than needed to bring the…
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