The Latest Breaking News from Economy

In last week's commentary, we noted that the S&P 500 (SPY) had been range-bound, but that "it may be prudent to pare back on risk and exposure" due to signs of weakness like rising credit spreads and a weakening growth outlook. However, I didn't anticipate the speed and intensity of…

Much as I sympathize with the Federal Reserve as it grapples with an economy in extremely trying circumstances, I believe it could be doing better in one crucial respect: helping financial markets to align their expectations with its thinking.

We are in a double bind right now. Prices are going through the roof but all the signs suggest that the economy is weakening. The answer to higher prices is normally to raise interest rates, but this also induces people and firms to spend less money. The challenge for central…

Hot temperatures are scorching much of the United States, breaking records ahead of the official start of summer.

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

Volkswagen AG (OTC:VLKPF) agreed to settle Porsche buyers’ complaints by paying a minimum of $80 million, Bloomberg reports. The buyers alleged improperly skewed emissions and fuel economy test results. Tests proved that fuel economy was one to two miles per gallon lower than the company advertised. Also Read: Will Volkswagen Ever Come Out…

China is defending its tough “zero-COVID” policy after the U.S. ambassador said it is causing serious damage to the global economy and foreign business sentiment

Manchester council leader and others have made an urgent call to change the government's HS2 plans

Lebanon will sign a "final" agreement to import gas from Egypt on June 21, its energy ministry told Reuters, after months of delays to a plan viewed as critical to boosting power supplies for Lebanon's stricken economy. The plan, first floated in summer 2021, is part of a US-backed effort…