Eurozone business activity slumps after Olympics boost
Brussels, Belgium — Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday. S&P Global’s purchasing managers’ index (PMI) —…
EU challenges China’s dairy product probe at WTO
Brussels — The European Commission launched a challenge at the World Trade Organization (WTO) on Monday against China’s investigation into EU dairy products, initiated after the European Union placed import tariffs on Chinese electric vehicles. This is the first time…
High inflation memories cloud US consumers’ outlooks
Washington — Even before the Federal Reserve approved its outsized half-percentage-point interest rate cut last week, financial markets had begun making credit cheaper for households and businesses as they bid down mortgage rates, cut corporate bond yields, and chipped away…
Investor focus turns to data, election, earnings after Fed rate cut
NEW YORK — A roaring rally in U.S. stocks will face a gauntlet of economic data, looming political uncertainty and a corporate earnings test in coming weeks as investors navigate one of the most volatile periods of the year for…
Nigeria’s inflation rate dips, but Nigerians still feel the pinch
ABUJA, NIGERIA — The high inflation rate in Nigeria dropped slightly in August, but a decline in the value of the nairia and a continued increase in fuel prices are eroding the slight gains and threatening to reignite the inflationary…
German minister: VW must solve most of its problems alone
Frankfurt, Germany — Germany wants to support Volkswagen and help it avoid factory closures but the ailing car giant will have to fix most of its problems itself, Economy Minister Robert Habeck said Friday. Volkswagen said earlier this month it…
Asian stocks follow Wall Street’s rate cut rally higher
HONG KONG — Asian stocks surged Friday with Japan’s Nikkei leading regional gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates. U.S. futures and oil prices were lower. The Bank of Japan ended…
Biden says Fed made ‘declaration of progress’ with interest rate cut
WASHINGTON — President Joe Biden said Thursday the Federal Reserve’s decision to lower interest rates was “an important signal” that inflation has eased as he characterized Donald Trump’s economic policies as a failure in the past and sure to “fail…
Boeing, striking union set to resume contract talks Wednesday
Boeing and its largest union will restart contract talks o Wednesday in the presence of federal mediators, after failing to agree on key issues such as wages and pensions, the International Association of Machinists and Aerospace Workers said. The union,…
Big Tech, calls for looser rules await new EU antitrust chief
Brussels — Teresa Ribera will have to square up to Big Tech, banks and airlines if confirmed as Europe’s new antitrust chief, while juggling calls for looser rules to help create EU champions. Nominated Tuesday by European Commission President Ursula…