Economy

(Bloomberg) -- The European Central Bank could open the door to a weaker euro on Thursday as its first interest-rate cut of the cycle puts the region on a divergent policy path from the US.Most Read from BloombergWith a quarter-point reduction all but certain, officials will finally embrace a widening in the difference between borrowing costs on…

(Bloomberg) -- S&P Global Ratings downgraded France, tarnishing President Emmanuel Macron’s record for debt management as his government struggles to get a grip on public finances in the wake of the Covid pandemic and energy crisis.Most Read from BloombergIn a statement on Friday, the credit assessor said that although reforms and a recovery…

Thankfully, they’re only a small-ish part of the banking industry’s overall loan book. But some banks are more exposed than others. By Wolf Richter for WOLF STREET. Banks are still very profitable. The industry reported quarterly net income of $64 billion in Q1, according to the FDIC yesterday. And so overall, as an industry, they can…

Nearly 4 in 10 factories in New York State are raising prices on the goods they make as it becomes more difficult to obtain raw materials, a sign that inflation could worsen, economists said.The Federal Reserve Bank of New York found 48% of manufacturers had a tougher time getting supplies this month compared with April, according to a new…

Huge month-to-month jumps for second month in a row as businesses jack up their prices for new fiscal year. By Wolf Richter for WOLF STREET. The producer price index for services that Japanese businesses buy jumped by 0.82% in April from March, after a similar jump in March from April, according to data from the Bank of Japan. On an…

Angle down icon An icon in the shape of an angle pointing down. Food inflation is hitting older adults hard. DEAN HINDMARCH/Getty Images Social Security's 2025 cost-of-living adjustment is projected to be 2.66%, below inflation.The 2024 COLA was 3.2%, and 71% of older Americans found it insufficient for rising bills.Over 67…

The housing crisis continues to make home ownership a pipe dream for thousands of Americans vying to purchase property as mortgage rates rise. At the beginning of the year it seemed like the conditions may have been looking up, or at least would be soon, because of a predicted drop in interest rates, but it seems like the reality has not…

Image caption, Kris Fisher owns Aunt Sandra's Candy FactoryArticle informationAuthor, Aimée BellRole, BBC News NI25 May 2024, 06:37 BSTThe owner of a small business in east Belfast says he has taken a second job driving lorries in order keep his sweet shop afloat.Kris Fisher said rising costs led to him stepping back from full-time involvement…

The high cost of essentials like food, rent and mortgages are weighing on many American consumers, Treasury Secretary Janet Yellen said Thursday (May 23). Yellen said the price increases have been “substantial,” rapid and noticeable to consumers, the Financial Times reported Thursday. The Consumer Price Index is up more…

(Changes "Treasuries" to "Treasury" in last paragraph)By Davide BarbusciaNEW YORK (Reuters) - Jeffrey Gundlach, the chief executive of investment management company DoubleLine Capital, expects a U.S. recession as soon as this year, he said on Thursday, as higher interest rates pressure U.S. consumers and companies.Signals of brewing trouble in…