Economic news


US Consumer Spending Solid; Inflation Showing Progress as Year Ends

US Consumer Spending Solid; Inflation Showing Progress as Year Ends

U.S. consumer spending increased in November amid strong demand for a range of goods and services, underscoring the economy's resilience, which saw the Federal Reserve this week projecting fewer interest rate cuts in 2025 than it had in September. There was also good news on inflation la...


December 20, 2024
Carnival Forecasts Robust 2025 Bookings, Cruise Demand Booms
Carnival Forecasts Robust 2025 Bookings, Cruise Demand Booms

Cruise operator Carnival Corp forecast strong bookings for 2025 ahead of the busy summer travel season, riding the wave of strong spending on...

Canada October Retail Sales Up 0.6%, Likely Flat in November
Canada October Retail Sales Up 0.6%, Likely Flat in November

Canada's retail sales in October were marginally lower than expected as a jump in new car sales offset consumers' reduced purchases at...

Russian Cbank Keeps Rates on Hold after Putin's Call for 'Balance'
Russian Cbank Keeps Rates on Hold after Putin's Call for 'Balance'

The Russian central bank kept its key interest rate on hold at 21% on Friday, surprising the market, which had expected a 2 percentage point...

GBP Set to End Week in Red against USD as Outlooks Diverge
GBP Set to End Week in Red against USD as Outlooks Diverge

Sterling held up against the dollar on Friday but was set to end the week lower after coming under pressure from divided Bank of England...

High Prices Impinging on India's Growth, Cbank Minutes Show
High Prices Impinging on India's Growth, Cbank Minutes Show

High prices are the cause for demand slowdown in India, and aligning inflation to the central bank's 4% target is key to ensuring sustained...

US Equity Funds Saw Biggest Net Outflows in 15 Years ahead of Fed Decision
US Equity Funds Saw Biggest Net Outflows in 15 Years ahead of Fed Decision

Investors pulled a net $50.2 billion from U.S. equity funds in the week ending Dec. 18, according to LSEG Lipper data, the biggest net outflow...

Natural Gas Demand from US LNG Export Plants Heads for 1st Decline in 8Y
Natural Gas Demand from US LNG Export Plants Heads for 1st Decline in 8Y

Demand for U.S. natural gas to produce liquefied natural gas (LNG) for export this year is headed for its first decline since the country started...

UK Watchdog Says $35B Synopsys-Ansys Deal Raises Competition Concerns
UK Watchdog Says $35B Synopsys-Ansys Deal Raises Competition Concerns

UK's competition watchdog said on Friday chip design software maker Synopsys' $35 billion acquisition of Ansys could reduce...

Hungary's Parliament Backs 2025 Budget Plan, Deficit Target seen at Risk
Hungary's Parliament Backs 2025 Budget Plan, Deficit Target seen at Risk

Hungary's parliament approved Prime Minister Viktor Orban's 2025 budget on Friday, shrugging off concerns by the Fiscal Council that the...

UK Borrows Less than Expected in Nov, Reeves Still under Pressure
UK Borrows Less than Expected in Nov, Reeves Still under Pressure

Britain ran a smaller-than-expected budget deficit last month as a past lull in inflation pushed down interest paid on government bonds, giving a...

UK Retailers Report Gloomy Run-Up to Christmas, CBI Says
UK Retailers Report Gloomy Run-Up to Christmas, CBI Says

British retailers reported a weak run-up to the Christmas holidays with sales falling again and businesses worrying about higher costs in 2025, the...

Greece's Current Account Deficit Narrows Sharply in Oct Thanks to Tourism
Greece's Current Account Deficit Narrows Sharply in Oct Thanks to Tourism

Greece's current account deficit narrowed sharply in October from a year earlier to 383 million euros ($397.59 million), helped by robust...

Indian Equity Benchmarks Snap 4-wk Rising Streak, Fed Outlook Hurts
Indian Equity Benchmarks Snap 4-wk Rising Streak, Fed Outlook Hurts

Indian shares plunged on Friday, with the benchmarks logging their first weekly decline in five weeks, as sentiment soured after the Federal...

Gold Set for Weekly Loss on Fed Signals Slower Policy Easing
Gold Set for Weekly Loss on Fed Signals Slower Policy Easing

Gold prices gained on Friday as the dollar pulled back from highs ahead of the U.S. Personal Consumption Expenditure data due later in the day,...

UK's FTSE 100 Set for Worst Week in 16 Months
UK's FTSE 100 Set for Worst Week in 16 Months

UK's FTSE 100 touched an over one-month low on Friday, led by declines in personal goods and bank shares, with the main stock index on track...

Europe Stocks Slide, Trump's Warning to EU Spooks Investors
Europe Stocks Slide, Trump's Warning to EU Spooks Investors

European shares were on course to post their worst week in three months on Friday, as U.S. President-elect Donald Trump's comments about...

Stocks Slide as US Govt Shutdown Looms, Trump Targets Europe
Stocks Slide as US Govt Shutdown Looms, Trump Targets Europe

Global stocks slid on Friday ahead of a possible U.S. government shutdown, while European shares came under fire after Donald Trump...

German Retailers more Pessimistic in Holiday Season, Ifo
German Retailers more Pessimistic in Holiday Season, Ifo

The business climate index in Germany's retail sector fell slightly in normally consumer spending-heavy December, as retailers assess their...

Taiwan's Nov Export Orders Miss Expectations, China Drags
Taiwan's Nov Export Orders Miss Expectations, China Drags

Taiwan export orders grew more slowly than expected in November as weaker shipment for smartphones offset strong demand for artificial intelligence...

Boeing re-Captures Turkish Airline Pegasus with MAX Jet Order
Boeing re-Captures Turkish Airline Pegasus with MAX Jet Order

Boeing has secured a firm order from Turkish low-cost carrier Pegasus Airlines for a hundred 737 MAX 10 jetliners, winning back a major...

Oil Falls on Demand Growth Concerns, Robust Dollar
Oil Falls on Demand Growth Concerns, Robust Dollar

Oil prices fell on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to...

Credit Agricole Buys Remainder of Caceis Custody and Asset JV from Santander
Credit Agricole Buys Remainder of Caceis Custody and Asset JV from Santander

Credit Agricole agreed to buy a 30.5% stake from Spain's Santander in custody and asset servicing entity Caceis, the banks said on...

S.Korea to Allow more Company Borrowings Overseas to Boost FX Liquidity
S.Korea to Allow more Company Borrowings Overseas to Boost FX Liquidity

South Korea's financial authorities said on Friday they would loosen foreign exchange regulations and allow more corporate borrowings abroad,...

Nike Warns its Turnaround will be Slog, after Results Beat Expectations
Nike Warns its Turnaround will be Slog, after Results Beat Expectations

Nike offered a muted forecast on Thursday, reversing gains in its shares made earlier in the day after the embattled sportswear seller's...

FedEx to Spin Off its Freight Trucking Business
FedEx to Spin Off its Freight Trucking Business

FedEx announced the much-anticipated spinoff of its freight trucking division on Thursday, as it restructures operations to focus on...

Amazon Workers Strike at Seven US Facilities ahead of Christmas Rush
Amazon Workers Strike at Seven US Facilities ahead of Christmas Rush

Amazon.com workers at seven U.S. facilities walked off the job early on Thursday during the holiday shopping rush as workers protest what they...

Stocks End Flat on Fed-Induced Selloff as Early Bounce Fades
Stocks End Flat on Fed-Induced Selloff as Early Bounce Fades

U.S. stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve...

Japan's Govt 'Alarmed' by Recent Forex Moves, Top Officials
Japan's Govt 'Alarmed' by Recent Forex Moves, Top Officials

Top Japanese finance officials said on Friday the government is "alarmed" by recent foreign exchange moves and is ready to intervene if...

China Leaves Rates Unchanged, Weak Yuan Limits Easing
China Leaves Rates Unchanged, Weak Yuan Limits Easing

China left its benchmark lending rates unchanged as expected at the monthly fixing on Friday. WHY IT'S IMPORTANT Persistent...

Singapore's Bolttech, Valued at $2.1B, Raises over $100M
Singapore's Bolttech, Valued at $2.1B, Raises over $100M

Singapore-headquartered insurance technology firm bolttech has raised more than $100 million in its latest funding round, led by Dragon Fund,...

German Tax Revenue Rose by 9.0% in Nov, Finance Ministry
German Tax Revenue Rose by 9.0% in Nov, Finance Ministry

Germany's federal and state governments' tax revenue rose 9.0% in November compared with the same month last year, the finance ministry...

December 19, 2024
USD Rally Stalls, Market Digests Fed's Cooler Approach to Easing
USD Rally Stalls, Market Digests Fed's Cooler Approach to Easing

The dollar on Thursday edged back from a two-year peak hit the prior session after the Federal Reserve signaled a much slower pace of...

Italy Govt Calls Confidence Vote over Deficit-Cutting 2025 Budget
Italy Govt Calls Confidence Vote over Deficit-Cutting 2025 Budget

Italy's government on Thursday called a vote of confidence in parliament on its deficit-cutting 2025 budget, a way of speeding up its approval...

European Stocks Tumble after Fed's Hawkish Signal
European Stocks Tumble after Fed's Hawkish Signal

European stocks tumbled on Thursday, on course for their biggest percentage drop in five weeks, as investors fled riskier assets including equities...

US Weekly Jobless Claims Fall; Q3 GDP Growth Revised Higher
US Weekly Jobless Claims Fall; Q3 GDP Growth Revised Higher

The number of Americans filing new applications for jobless benefits fell more than expected last week, reversing the prior week's jump and...

US Third-Quarter Economic Growth Revised Higher
US Third-Quarter Economic Growth Revised Higher

The U.S. economy grew faster than previously estimated in the third quarter, driven by robust consumer spending. Gross domestic product...

Dovish BoE Dents Buoyant Sterling but Soothes Battered Gilts
Dovish BoE Dents Buoyant Sterling but Soothes Battered Gilts

A dovish message from the Bank of England on Thursday dented the outlook for sterling, one of the year's best performing major currencies...

Poland Expects 2.8-2.9% GDP Growth in Q4
Poland Expects 2.8-2.9% GDP Growth in Q4

Poland still expects 2.8-2.9% economic growth in the fourth quarter, Finance Minister Andrzej Domanski said on Thursday. "This will be a...

India's Bharti Airtel Clears 2016 Spectrum Dues
India's Bharti Airtel Clears 2016 Spectrum Dues

Indian telecom carrier Bharti Airtel has made an early payment of 36.26 billion rupees ($426.4 million) to the Indian government, the company...

Seeing Low-Income Consumers Squeezed, Retailers Target $10 and Under Gifts
Seeing Low-Income Consumers Squeezed, Retailers Target $10 and Under Gifts

Retailers including Target and Walmart are stocking shelves with more toys and gifts such as Barbies that cost less than $10 this holiday...

Indian States must Set Glide Path for Fiscal Consolidation, Cenbank Report
Indian States must Set Glide Path for Fiscal Consolidation, Cenbank Report

Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities,...

Rupee Falls below 85/USD as Fed's Hawkish Shift Rattles Asian Currencies
Rupee Falls below 85/USD as Fed's Hawkish Shift Rattles Asian Currencies

The Indian rupee weakened past 85 per dollar on Thursday, hitting an all-time low as the Federal Reserve's scaling back of its rate cut...


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