This week, senior American trade officials will meet with China’s Minister of Commerce Wang Wentao in the US. The meetings will be another attempt by the two largest economies in the world to warm chilly bilateral relations. Beijing said on Thursday that Wang Wentao plans to use his trip to …
Read More »Adidas expects bumpy year despite forecast-beating sales
Adidas shares rose on Friday after better-than-expected first-quarter results, although CEO Bjorn Gulden forecast “a bumpy year with disappointing numbers” for the German sportswear giant. Despite a 1% sales drop, an operating profit of 60 million euros ($66 million) beat analyst expectations of 15 million euros for the company which …
Read More »Washington to ease limits on US investments in China
According to expectations, US President Joe Biden will consider the suspension of extensive limits on US investment in China that have been proposed by some hawks in his administration and Congress. According to Politico, White House negotiations have been taking place as US President Biden scales back plans for an …
Read More »Stability of US dollar with evaluation of statements of Fed officials
On Thursday, the dollar hovered near the average prices it recorded during the last period against the major currencies, while investors evaluated the comments issued by a number of Federal Reserve officials, as well as anticipating the consumer price inflation data scheduled to be published next week. The dollar index, …
Read More »Dollar is rising after strong US jobs data
The dollar held firm against the euro on Monday, with traders expecting the Federal Reserve to likely raise the benchmark interest rate above 5 percent and keep it at that level to rein in inflation, after data revealed that the labor market remains strong. The Turkish lira fell to a …
Read More »UK, Italy impose restrictions on passengers arriving from China
The United States announced that all flight passengers arriving from China will be required to show a negative Covid test result before flying to the States. The decision will come into force as of January 5.Risk sentiment is lukewarm amid fresh concerns over the covid spread worldwide once again. The …
Read More »US annual CPI inflation declines to 7.7% in October
The US Bureau of Labor Statistics reported on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.7% on a yearly basis in October from 8% in September. This reading came in below the market forecast of 8%. The Core CPI, which excludes …
Read More »US annual CPI inflation declines to 8.2% in September
The US Bureau of Labor Statistics reported on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 8.2% on a yearly basis in September from 8.3% in August. This reading came in higher than the market expectation of 8.1%. The Core CPI, which …
Read More »US annual CPI inflation declined to 8.3% in August
The US Bureau of Labor Statistics reported this Tuesday that inflation, as measured by the Consumer Price Index (CPI), decelerated to 8.3% on a yearly basis in August from 8.5% in the previous month. The reading was slightly above consensus estimates pointing to a decline to 8.1%. The Core CPI, …
Read More »US, India make progress on plan to cap Russian oil price
The US and India made progress on price cap talks, according to Wally Adeyemo, the US Deputy Treasury Secretary. India has emerged as one of Russia’s largest oil customers as it snaps up discounted barrels. The comments come after Indian officials have privately expressed reluctance about joining the price cap, …
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