slowing - Shore News Network

Multiple Crashes Slowing Traffic on Garden State Parkway As Monday Morning Rush Slows

Breaking Local News ReportOctober 21, 20240

NEWARK, N.J. — Multiple traffic incidents have been reported on New Jersey highways this morning, causing delays across several routes. A crash on the Garden State Parkway southbound at Exit 140B in Union Township has blocked one lane as of 7:57 a.m. Another crash on the Parkway at Exit 36 in Egg Harbor Township has also blocked one lane, reported at 7:52 a.m. In South Kearny, the Pulaski Skyway southbound saw a crash at 7:49 a.m., closing one left lane, while a disabled vehicle on the northbound side at the same location has shut down one right lane. On I-80

Traffic Alert: Multiple Crashes Slowing New Jersey’s Morning Commute

Breaking Local News ReportOctober 1, 20240

Crashes and delays affect New Jersey morning commute NEWARK, N.J. — Multiple crashes and delays are impacting the morning commute across New Jersey as of 8:15 a.m., with several key roadways experiencing lane closures and slowdowns. A crash on US 1&9 northbound, just north of Elizabeth Avenue in Elizabeth, has closed one right lane, causing congestion in the area. Motorists are advised to expect delays. Another crash occurred on the Garden State Parkway northbound, just north of the Colonia Service Area in Woodbridge Township. The left shoulder is blocked, contributing to traffic build-up on the parkway. On I-78 westbound, a

Crash slowing traffic on Route I-97, Route 100 in Glen Burnie

Breaking Local News ReportSeptember 26, 20240

GLEN BURNIE, Md. – A traffic collision at the intersection of eastbound Route 100 and northbound I-97 is currently obstructing traffic, according to the Anne Arundel County Police Department. The incident, which was reported less than an hour ago, involves a single vehicle that is blocking the roadway. Details about the cause of the collision or any injuries have not been released. Police are advising drivers to avoid the area as emergency personnel work to clear the scene. The situation is ongoing, and authorities have not provided a timeline for when the road will be fully reopened.

Crash on New Jersey Turnpike Slowing Traffic Near 13A

Breaking Local News ReportJune 10, 20240

ELIZABETH, NJ—An early morning crash occurred on the New Jersey Turnpike Outer Roadway northbound, north of Interchange 13A – Newark Liberty International Airport/US 1&9. The incident started at 7:25 AM and was updated by 7:36 AM. The crash has led to the blocking of the right shoulder, although the main lanes remain open to traffic. Motorists should exercise caution when passing through the area near Elizabeth.

Food distributor Sysco misses Q2 sales estimates on slowing demand

ReutersJanuary 30, 20240

(Reuters) – Sysco missed Wall Street expectations for its second-quarter sales on Tuesday, as demand for custom meat cuts and high-quality seafood petered out in the face of still-high inflation. With customers cutting back on dining out, margins of consumer staple companies like Sysco and peers Hormel Foods, Conagra Brands, and Lamb Weston have come under pressure. Sysco’s U.S. foodservice segment – which serves enterprise customers like schools and restaurants – saw volume grow by 3.4% in the second quarter compared to a 5.2% rise a year ago. The company’s quarterly net sales rose 3.7% to $19.29 billion for the

Colgate-Palmolive sees sales slowing in 2024 as muted volumes weigh

ReutersJanuary 26, 20240

(Reuters) – Colgate-Palmolive on Friday forecast fiscal 2024 sales below estimates, as higher prices of its oral and personal care products continue to weigh on volumes. The toothpaste maker expects annual sales growth to be between 1% and 4%, the midpoint of which is below analysts’ average estimates of a 3.55% growth. In 2023, Colgate logged sales growth of 8.5%. Other consumer product makers like Procter & Gamble and Kimberly-Clark had also flagged softer volumes earlier this week as customers continued to digest higher product prices. For Colgate, fourth-quarter organic volumes were flat, broadly similar to the previous quarter, although

Risk of EU prices rising, growth slowing from Red Sea attacks -EU trade chief

ReutersJanuary 23, 20240

BRUSSELS (Reuters) – The European Union faces a risk of consumer prices surging and growth slowing due to disruptions to shipping through the Red Sea, though it has yet to feel an economic impact, a top EU official said on Tuesday. European Commission Vice President Valdis Dombrovskis, who oversees the 27-nation bloc’s economy, said shipping traffic through the Red Sea had decreased by 22% in one month in the face of attacks by Yemen’s Iran-aligned Houthis. However, the decline will accelerate as shipping companies are re-routing vessels around the Africa continent, he said, adding that the Commission was monitoring the

Beijing sets 2024 growth target higher despite slowing economy

ReutersJanuary 22, 20240

BEIJING (Reuters) – China’s capital city Beijing has set a growth target of around 5% for 2024, surpassing last year’s target of above 4.5%, despite expectations of slower growth for the national economy. The economy of the capital city expanded 5.2% in 2023, in line with the national economy, which has so far posted feeble post-pandemic growth amid a deepening property crisis, mounting local government debt and persistent deflationary risks. “The target of around 5% is needed to stabilise expectations and boost confidence, to achieve important livelihood goals such as employment and household income,” the Beijing Daily reported on Sunday,

China growth seen slowing to 4.6% in 2024, raising heat on policymakers – Reuters poll

ReutersJanuary 15, 20240

By Kevin Yao BEIJING (Reuters) – China’s economic growth is likely to slow to 4.6% in 2024, and cool further to 4.5% in 2025, a Reuters poll showed, raising the heat on policymakers to roll out more stimulus measures amid deflationary pressures and a severe property slump. Gross domestic product (GDP) likely grew 5.2% in 2023 – meeting the government’s annual growth target, partly helped by the previous year’s low-base effect which was marked by COVID-19 lockdowns, according to the median forecasts of 58 economists polled by Reuters. But the world’s second-largest economy has struggled to mount a strong and

Inflation in Japan’s capital keeps slowing, takes pressure off BOJ

ReutersJanuary 8, 20240

By Leika Kihara and Takahiko Wada TOKYO (Reuters) – Core inflation in Japan’s capital slowed for the second straight month in December as cost-push price pressures continued to ease, data showed on Tuesday, taking some pressure off the central bank to rush into exiting ultra-loose monetary policy. The Tokyo inflation data, closely watched as a leading indicator of nationwide price trends, is among key factors the Bank of Japan (BOJ) will scrutinise at the next policy-setting meeting on Jan. 22-23. Separate data showed household spending fell for the ninth straight month in November, underscoring the fragile nature of Japan’s economy

In China’s slowing beauty market, big brand discounts won’t cut it

ReutersDecember 7, 20230

By Casey Hall SHANGHAI (Reuters) – Expensive beauty hauls are a thing of the past for Evelyn Zhu. The Chinese branding professional says she now only spends on skincare essentials, joining millions of other consumers who have cut back on cosmetics in the world’s second biggest market. “In recent years we all bought so many products,” the 32-year-old from the affluent eastern city of Hangzhou said. “My bathroom cupboard is full, it’s hard to say I need much more.” This restraint, which has taken hold amid a slowing economy, spells bad news for global firms such as L’Oreal, Estee Lauder

Slowing China trend growth means better opportunities elsewhere – BlackRock Investment Institute

ReutersDecember 6, 20230

LONDON (Reuters) – Slowing trend growth in China means there are better investment opportunities in emerging markets outside the world’s number two economy, senior executives at BlackRock Investment Institute (BII) said on Wednesday. Alex Brazier, deputy head of the BII – the research and analysis arm of the world’s largest asset manager – said during its outlook 2024 briefing that the loss of momentum in China’s economic growth had prompted more pessimistic view. “5% this year in the context of a reopening of the economy, is not particularly strong,” Brazier said during the briefing. “But more importantly for us is

China’s exports slump seen slowing as pockets of demand emerge- Reuters poll

ReutersDecember 6, 20230

By Joe Cash BEIJING (Reuters) – Declines in China’s exports likely slowed in November, a Reuters poll showed on Wednesday, amid mixed signs factories in the world’s second-largest economy may be finding their footing after a bruising slump in demand. Outbound shipments from China are expected to show a 1.1% drop in November from a year earlier, following a 6.4% fall in October and continuing the trend of narrowing declines for the fourth straight month, according to the median forecast of 28 economists polled. Mixed manufacturing data for November has kept alive calls for further policy support to shore up

Tokyo core CPI growth seen slowing to 2.5% in November: Reuters poll

ReutersDecember 1, 20230

By Satoshi Sugiyama TOKYO (Reuters) – Core consumer inflation in Japan’s capital Tokyo likely grew in November but at slower pace than the month before, a Reuters poll of economists showed on Friday, in a sign that price pressures may be easing. The core consumer price index (CPI) in Tokyo, a leading indicator of nationwide inflation trends, was expected to have climbed 2.4% in November from a year earlier, according to the median estimate of 16 economists, mainly thanks to falling fuel prices and slower food price increases. That would follow a 2.7% increase in October. “Although government subsidies have

VF Corp withdraws annual forecasts on slowing demand for higher-priced apparel

ReutersOctober 30, 20230

(Reuters) – VF Corp withdrew its full-year revenue and profit forecasts on Monday, with demand for its higher-priced apparel and footwear easing as customers turn more cost conscious, especially in the United States. Shares were down 4% in extended trading after VF Corp also reported a lower-than-expected second-quarter profit. High borrowing costs and still-high inflation have forced shoppers to move away from pricier products and spend their dollars mainly on essentials. An uncertain consumer spending environment has also forced several retailers including Foot Locker and Macy’s to take a cautious stance going into the holiday season. VF Corp’s margins have

Whirlpool tempers annual profit forecast on slowing demand

ReutersOctober 25, 20230

(Reuters) – Whirlpool Corp tempered its full-year profit forecast on Wednesday, signaling softening demand for its washing machines and kitchen appliances amid a cost-of-living crisis and sending its shares 5% lower in extended trading. Consumers are cutting spending on pricier discretionary items as the cost of living rises in the United States and a series of interest rate hikes over the past year to bring down stubbornly high inflation stokes fears of an economic slowdown. The company now expects earnings per share of about $16, compared with its previous forecast of $16 to $18. However, the company posted third-quarter adjusted

More alarm bells sound on slowing demand for electric vehicles

ReutersOctober 25, 20230

By Ben Klayman (Reuters) – High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker. Electric vehicle sales are still growing strongly, but that demand is not keeping up with the expectations of carmakers and other companies that have invested billions of dollars in the EV space. Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. “EV demand next year could be lower than expectations,” Lee Chang-sil,

China’s Q3 GDP seen slowing as Beijing races to revive growth

ReutersOctober 17, 20230

By Kevin Yao BEIJING (Reuters) – China’s economy likely slowed in the third quarter, data is expected to show on Wednesday, weighed by persistently weak demand, although increased stimulus has improved the prospects Beijing might be able to hit its full-year growth target. The world’s second-largest economy faltered in the second quarter after a brief post-COVID recovery, dragged by a property downturn and huge debt due to a decades-long infrastructure binge. The government has in recent weeks unveiled a raft of measures, including more public works spending, interest rate cuts, property easing and efforts to shore up the private sector.

China’a Q3 GDP growth seen slowing to 4.4% as headwinds persist: Reuters poll

ReutersOctober 16, 20230

By Kevin Yao BEIJING (Reuters) – China’s economy is expected to have slowed in the third quarter as demand at home and abroad faltered, but increased support from the government means Beijing may still be able to achieve its full-year growth target. Gross domestic product (GDP) likely grew 4.4% in July-September from a year earlier, slowing from the 6.3% pace in the second quarter, according to the median forecast of 60 economists polled by Reuters. The world’s second-largest economy began to falter in the second-quarter after a brief post-COVID recovery, dragged by a property downturn and huge debt due to

Portugal eyes small budget surplus in 2024 despite slowing growth

ReutersOctober 10, 20230

By Sergio Goncalves LISBON (Reuters) – Portugal unveiled its draft 2024 budget on Tuesday, projecting a surplus of 0.2% of GDP despite a further economic slowdown to 1.5% from this year’s expected 2.2% amid high interest rates and slowing exports to key trading partners in Europe. This year, the government now expects a surplus of 0.8%, Portugal’s second in almost five decades after a 0.1% surplus in 2019, and a huge improvement on its earlier forecast of a 0.4% deficit. Last year, the country had a deficit of 0.4% of GDP. The document that Finance Minister Fernando Medina submitted to

Euro zone 2024 fiscal tightening seen limited by slowing economy

ReutersSeptember 27, 20230

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 voters are likely to limit fiscal tightening, officials said. The European Central Bank has called for governments to roll back subsidies introduced to help people cope with the spike in energy prices that followed the start of the Ukraine war, saying doing so will help it stabilise inflation over time. Withdrawing them is politically sensitive, however, as in the short-term it will push up prices for consumers already

Hurricane Lee Slowing As It Barrels Toward East Coast

Daily Weather ReportSeptember 9, 20230

Hurricane Lee is slowing down a bit but is nevertheless a very powerful hurricane as it aims itself at the U.S. East Coast. The category 5 storm weakened over the past 24 hours but can gain more energy as it travels across the Atlantic Ocean north of the Bahamas this weekend. Hurricane Lee, currently a Category 3 storm, is hundreds of miles east of the Caribbean but could impact the US Atlantic seaboard as early as this weekend. The National Weather Service has also issued a coastal advisory for the east coast saying rough surf conditions can begin being felt

US furniture retailer RH shares tumble as slowing sales prompt dour revenue forecast

ReutersSeptember 8, 20230

By Chibuike Oguh NEW YORK (Reuters) – Shares of U.S. home furniture retailer RH dropped more than 15% on Friday after the company warned that slower quarterly sales would result in disappointing revenue. RH after the closing bell on Thursday forecast third-quarter revenue of $740 million-$760 million, below the average Wall Street analyst estimate of $772.87 million according to LSEG data. RH’s second-quarter net revenue fell 19% to $800 million while net income slumped 37% to $76.5 million as furniture sales declined due to weaker demand for luxury items. RH’s stock fell more than 15% to $312.95, its biggest daily

Explainer-Why is China’s economy slowing down and could it get worse?

ReutersSeptember 1, 20230

HONG KONG (Reuters) – China’s economic growth is slowing down as policymakers try to fix a property market downturn, with troubles at major developer Country Garden in focus. Concerns are mounting over whether the world’s second-largest economy is coming closer to a crunch point: WHAT IS CAUSING CHINA’S ECONOMIC SLOWDOWN? Unlike consumers in the West, Chinese people were left largely to fend for themselves during the COVID-19 pandemic and the revenge spending spree that some economists expected after China re-opened never took place. Moreover, demand for Chinese exports has been softening as key trading partners have been grappling with rising

Bath & Body Works sees steeper sales drop on slowing demand

ReutersAugust 23, 20230

(Reuters) – Bath & Body Works on Wednesday warned of a steeper decline in annual sales as Americans deferred purchasing its pricier home fragrances and personal care products amid still-high inflation pinching household budgets. Shares of the Ohio-based company fell about 2% in premarket trading after the retailer forecast current-quarter sales and profit below Street expectations. A rise in costs of living and credit repayments at higher borrowing costs in the U.S. have prompted consumers to cut down on purchasing non-essential items. This has led to a slowdown in demand for products such as home fragrances and beauty and skincare.