Darren415 By James Knightley Higher inflation catches the markets’ eye, rather than weaker growth US first quarter GDP growth is an annualised 1.6%, well below the 2.5% consensus expectation, but inflation is hotter with the core PCE deflator up 3.7% annualised versus 3.4% expected. This suggests, assuming no revisions to monthly data, that the core…
Richard Drury By Hope Crystal The U.S. agency’s final rules for vehicle emissions give manufacturers more time to transition to electric fleets, but set ambitious standards for the future. Last month, the U.S. Environmental Protection Agency announced finalized rules on vehicle emissions that will reduce air pollutants that apply to passenger cars, light-duty trucks and…
Dragon Claws/iStock via Getty Images By James Smith At the margin, the latest UK jobs report is slightly dovish for the Bank of England. The unemployment rate edged higher to 3.9%, with the usual caveat that there are still reliability question marks surrounding these numbers. Unfilled job vacancy numbers are falling steadily and are closing…
damircudic Founded back in 1935, Webster Financial Corporation (NYSE:WBS) operates as a bank holding company and is headquartered in Stamford, Connecticut. Far from its all-time high of $65 per share, it is gradually making up for lost ground. However, in Q4 2023 it failed to meet analysts’ expectations in terms of EPS and revenue: Q4…
sefa ozel/E+ via Getty Images China’s economy may be slowing, but ZTO Express (Cayman) Ltd. (2057.HK; NYSE:ZTO) still managed to deliver growth in the face of such headwinds, albeit small growth. The company, one of China’s top parcel delivery firms, reported this month that its third-quarter revenue rose 1.5% year-on-year to 9.08 billion yuan ($1.27…
XtockImages Canada’s inflation cooled to 3.1% in October. Robert Both, Macro Strategist with TD Securities, discusses the latest readings and the implications for the Bank of Canada’s monetary policy with MoneyTalk’s Greg Bonnell. Greg Bonnell: Well, Canadian headline inflation cooled to 3.1% in October, just sitting above that target range for the Bank of Canada….
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Silicon Valley law firm that has represented global technology groups for decades is exploring opening a Singapore office, its first in Asia outside of greater China as geopolitical and regulatory hurdles force the firm…
Google Play accounted for 9 million ChatGPT downloads in September, while the other 6.6 million were recorded by the App Store. The total number of ChatGPT downloads has hit 52.2 million. OpenAI’s chatbot ChatGPT has seen a record growth in downloads in September, which brought the revenue generated by its mobile app to $4.58 million….
JLGutierrez By James Knightley, Chief International Economist The Fed’s favoured measure of inflation undershot expectations and has boosted the case for the Fed not hiking rates in the current quarter. But huge upward revisions to houshold savings suggests the consumer can remain more resilient than we thought likely and supports the case for the Fed…
HeliRy The global growth outlook has improved in recent weeks despite concerning data trends out of China. The US and Europe are helping to improve what 2023 real economic expansion will be, and that trend benefits cyclical firms and worldwide energy demand. I always pay close attention to these moves at the macro level. Today,…
da-kuk The key surprise out of China in recent weeks was the lack of policy stimulus, with the latest series of rate cuts falling well short of lowered expectations. And with almost all of last month’s economic data already missing expectations by a considerable margin, China’s path toward hitting its +5% growth target this year…
The targeted sites were subjected to a noticeable five-second delay. Elon Musk‘s social media platform X, formerly Twitter, has stirred up a digital storm by intentionally slowing down access to certain websites, setting off debates about online power dynamics and user manipulation. The targeted sites, which include heavyweights like The New York Times, Instagram, Facebook, Bluesky,…