The European Central Bank must take its time to get interest rate cuts right, its chief economist, Philip Lane, said Thursday. “A lot of evidence is accumulating, but what’s also fair to say is that the transition from this holding phase, we’ve been on hold since last September since a substantial hiking cycle, we do … Read more
This combination of pictures created on February 17, 2024, shows U.S. President Joe Biden waving from the South Lawn of the White House in Washington, D.C., on June 1, 2023, and former President Donald Trump waving to the media outside the White House on Jan. 12, 2021. Jim Watson | Brendan Smialowski | AFP | … Read more
A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nasholim, on August 29, 2022. JACK GUEZ | AFP DUBAI, United Arab Emirates — Plans for a 50% stake purchase by energy major BP and Abu Dhabi National Oil Company (Adnoc) … Read more
Chief financial officers at large companies see a U.S. economy and equities market that can continue to grow, even as fears about sticky inflation and a potentially overextended, and concentrated, bull run in stocks weigh on investors. That’s according to the CNBC CFO Council Survey for the first quarter of 2024, which shows a dramatic … Read more
There aren’t many issues that garner support across party lines in Ottawa these days. But when it comes to the supply management system for egg, poultry and dairy products — the mechanism that sets prices for producers — all of Canada’s federal parties seem to see eye-to-eye. Political support for the controversial agricultural framework has … Read more
People walk along Waterloo Bridge past the City of London skyline, the capital’s financial district, on a sunny and mild day. Sopa Images | Lightrocket | Getty Images LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly. The headline figure was in … Read more
President Joe Biden speaks during an event about lowering costs for American families at the Granite State YMCA Allard Center of Goffstown on March 11, 2024 in Goffstown, New Hampshire. Sophie Park | Getty Images News | Getty Images President Joe Biden is starting to win the inflation blame game against corporations. A recent Financial … Read more
Canadian tourism businesses are concerned about a recent change now requiring visas for citizens of Mexico – which is one of the country’s top overseas tourist markets – coming into Canada. The Tourism Industry Association of Canada (TIAC) said this new requirement could have “very real” repercussions on the sector, which is still reeling from … Read more
Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates. The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported … Read more
Customers shop in a Walmart Supercenter on February 20, 2024 in Hallandale Beach, Florida. Joe Raedle | Getty Images News | Getty Images Consumer spending bounced back in February from a January dip, with a little help from Leap Day. But sales still registered good gains even after correcting for that extra spending day. The … Read more
