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Economy
Snap stock falls 30% after Snapchat parent says it will miss estimates due to
Snap Inc. stock fell more than 30% in the extended session Monday after the Snapchat parent said it likely will miss quarterly estimates as the economy has “deteriorated further and faster than anticipated.” Snap…
Fed Interest-Rate Decision Tees Up March Increase
The Federal Reserve signaled it would begin steadily raising interest rates in mid-March, its latest move toward removing stimulus to bring down inflation.Fed Chairman
Jerome Powell
said Wednesday that the…
New Zealand central bank says low net migration could cool housing prices
New Zealand’s runaway house prices could be brought back to earth by low net migration if the coronavirus pandemic keeps the country’s borders closed, according to the central bank’s deputy governor.Geoff Bascand told the…
Former China official warns of yuan weakness in 2022 as economy slows
SHANGHAI : China should prepare for its currency to pull further away from recent highs if economic data continues to disappoint next year, a former senior official at the country's foreign exchange regulator has warned.The dollar…
Stocks sink, S&P enters bear market inflation, Fed meeting this week: LIVE UPDATES
Developing StoryDow eases from 800+ point selloffSymbolPriceChange%ChangeI:DJI$30,575.41-817.38-2.60%BA$127.00
-6.73-5.03%DOW$58.67-3.19-5.16%IBM$136.19-1.77-1.28%KO$61.41-0.39-0.63%All 30 Dow components
traded lower mid-morning led by…
Worry about stagflation, a flashback to ’70s, begins to grow
WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip…
Economists mock The Guardian for publishing an opinion piece suggesting price controls to
Media top headlines December 30 In media news today, a second CNN producer comes under ‘criminal investigation’ involving ‘potential juvenile victims,’ Ex-MSNBC star Keith Olbermann mocks Mitt Romney’s large family, and Politico…
Russian court orders halt to Caspian oil pipeline but exports still flow
This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.CPC exports around 1.2 million barrels per dayPipeline's operations have been interrupted by stormsKazakhstan considers…
Latest news updates: China factory gate price growth slows in November
UK employers carried on hiring at pace from a shrinking pool of candidates in November, according to a closely-watched survey that suggests wage pressures were intensifying in the weeks before the emergence of the Omicron variant.A…
Bitcoin was supposed to hedge against inflation—here’s why it hasn’t worked that way
Bitcoin has plunged in value this year, weakening the argument often made by crypto enthusiasts that it can be an effective hedge against inflation during times of economic turmoil.Bitcoin advocates have long argued that its scarcity…