Sterling gains as UK inflation slows by less than anticipated – ForexLive
GBP/USD daily chart Today’s UK CPI report was always going to be tough to read – or, more precisely, in gauging the impact of Ofgem’s 12% cut in the energy price cap in April. Inflation was always trending lower, but by how much? Both headline and core annual inflation reflect a decline, but not in […]
U.S. Hiring Slows With Economy Adding 175,000 Jobs in April and Unemployment Rose to 3.9%
US Employer Added 175,000 The Ministry of Labor announced on Friday that it would cut workers’ April salary payments. The unemployment rate rose to 3.9% from 3.8% the previous month. Economists had expected payrolls to rise by 240,000 and the unemployment rate to be flat at 3.8% last month. The lower end of the Econoday […]
EU requires cars come with tech that slows cars when speeding, UK opts out
All new cars and trucks sold within the European Union and Northern Ireland from 6 July 2024 onwards will be equipped with a safety system that alerts drivers to speeding by beeping, vibrating and even slowing the vehicle to prevent car accidents. Equipped with technology is mandatory. Although the UK has chosen not to mandate […]
US first quarter GDP slows more than expected, but inflation keeps rising
The latest GDP statistics show that the economy remains strong, but growth is slowing. (iStock) US gross domestic product (GDP) fell faster than expected first quarterBut a key measure used by the Federal Reserve to measure inflation continued to rise, according to the Bureau of Economic Analysis (BEA). Real GDP grew at an annualized rate […]
GDP Growth Slows Much More Than Expected While Inflation Accelerates
The U.S. economy grew at just 1.6% annually and inflation soared in the first three months of this year, the government reported Thursday. Economists had expected gross domestic product (GDP) to grow at 2.5%. In the fourth quarter of 2023, the economy grew at an annual rate of 3.4%. Consumer spending was strong but weaker […]
Alzheimer’s drug embrace slows down as US doctors’ reluctance grows
Nine months after the U.S. launch of the first drug proven to slow the progression of Alzheimer’s disease, Eisai and Biogen’s Requemby faces unexpected hurdles to widespread use. That’s a stereotype among some doctors that treating diseases that rob people of their memory is futile. Alzheimer’s disease experts had anticipated bottlenecks due to Requemby’s requirements, […]
Argentina’s Inflation Slows Down After 3 Months of Milei ‘Shock Therapy’
Argentina recorded an inflation rate of 13.2% in February, Argentina’s National Institute of Statistics and Census (INDEC) said on Tuesday, marking the second straight month in which inflation slowed as a result of President Javier Millei’s austerity measures. It was shown that Mr Millay, who took office in December, instituted a series of “shock therapy” […]
Nestlé growth slows as inflation eats away at profits
Nestle’s stock price fell nearly 4.5% on Thursday after the Swiss multinational maker of Kit Kat chocolate bars and Haagen-Dazs ice cream reported lower-than-expected growth. This is another sign that inflation is weighing on the company’s profits. The company said it expects organic sales to increase by about 4% in 2024 and underlying trading operating […]
UPS to cut 12,000 jobs as delivery demand slows
UPS announced plans to cut 12,000 jobs this year due to weak shipping volumes, a plan the shipping giant says will save the company $1 billion. The company announced at its financial results conference on Tuesday that average daily domestic shipments decreased by 7.4% and domestic shipments decreased by 8.3%. UPS announced fourth-quarter sales of […]
China’s hundred-year marathon slows to a crawl amid economic woes and record-low birth rate
China's ambitions to complete the hundred-year marathon, overtake the United States and become a global hegemon by 2049 are becoming increasingly fanciful. The economic and social problems faced by the Asian country in the immediate aftermath of the pandemic have not yet been resolved. In fact, the situation continues to worsen. Collapse of the one-child […]