Germany’s central bank governor on rates, inflation outlook

Joachim Nagel, Germany’s central bank governor and ECB member, shares his latest thoughts on inflation and the possibility of rate hikes in the euro zone. Bloomberg | Bloomberg | Getty Images The ECB will soon hike rates for the first time in more than a decade, a member of the central bank’s governing council told … Read more

Recession is ‘likely,’ former SEC chief economist says

LarryHarris Source: Larry Harris To tame the recent inflationary spike, the Federal Reserve signaled it will continue to raise interest rates. When rates are high, consumers get a better return on the money they stash in a bank account and must shell out more to get a loan, which can trigger them to borrow less. … Read more

Average gas prices have hit $2 a liter. Here’s how Canadians are coping with soaring costs at the pump

As gasoline costs mount, many Canadians are changing driving habits and adjusting spending to cope with the financial impact.Michelle Siu/The Canadian Press With gas prices recently soaring past $2 per liter in much of the country, Canadians are feeling the pinch. Oil and gasoline prices have been on the rise much of this year, particularly … Read more

S&P 500 turns positive in final hour of trading as it attempts to rebound from worst loss since 2020

The S&P 500 inched higher Thursday in a rebound from the benchmark’s worst loss since 2020 in the prior session. The broad market index rose 0.2% after falling 4% on Wednesday. The benchmark is teetering on bear market territory sitting about 18% below its record reached in January. The Dow Jones Industrial Average was higher … Read more

Dow drops 1,100 points for its biggest decline since 2020 as the sell-off this year on Wall Street intensifies

The Dow Jones Industrial Average posted its biggest loss since 2020 on Wednesday after another major retailer warned of rising cost pressures, confirming investors’ worst fears over rising inflation and rekindling the brutal 2022 sell-off. The Dow shed 1,164.52 points, or 3.57%, to 31,490.07, the average’s biggest decline since June 2020. It was the lowest … Read more

Japan’s economy contracts as energy prices soar

Japan’s economy contracted at a worse than expected annual rate of 1% in the last quarter, as rising prices and COVID-19 restrictions sapped spending and investment By YURI KAGEYAMA AP Business Writer May 18, 2022, 3:47 AM • 2min read Share to FacebookShare to TwitterEmail this article TOKYO — Japan’s economy shrank at a worse … Read more

10-year Treasury yield amid economic data, Fed speeches

The yield on the benchmark 10-year Treasury note rose above 2.9% on Tuesday as US retail sales came in about as expected, and investors watched for clues on the path of monetary policy. The yield on the 10-year Treasury note last traded up 8 basis points to 2.955%, while the yield on the 30-year Treasury … Read more

Bank of England governor rejects criticism on inflation

Bank of England Gov. Andrew Bailey has rejected criticism that the institution didn’t move quickly enough to quash inflationary pressures By DANICA KIRKA Associated Press May 16, 2022, 6:56 PM • 3 min read Share to FacebookShare to TwitterEmail this article LONDON — Bank of England Gov. Andrew Bailey on Monday rejected criticism that the … Read more

EU cuts forecast for economic growth as war’s fallout widens

The European Union has slashed its forecasts for economic growth in the 27-nation bloc amid the prospect of a drawn-out Russian war in Ukraine and disruptions to energy supplies ByAssociated Press May 16, 2022, 1:53 PM • 5 min read Share to FacebookShare to TwitterEmail this article BRUSSELS — The European Union has slashed its … Read more

Stocks cut losses, Nasdaq turns positive as market attempts comeback from sell-off

Stocks clawed back some losses from earlier in Thursday’s session as traders tried to recover their footing following the recent market decline. The Dow Jones Industrial Average traded up 60 points, or 0.2%, after being down more than 350 points earlier in the session. The S&P 500 was last up 0.7% after falling as much … Read more