E-commerce July’s spending numbers also likely reflected dampened e-commerce sales, because Amazon’s Prime Day promotions, which can drive online spending in the summer, took place in June this year instead of July. Credit card spending data declined 1.3 percent in July from June, a drop that analysts at Bank of America attributed last week to […]
* Fed minutes show no decision made on bond taper * U.S. housing starts fall, weighs on dollar (Adds new analyst comment, Fed minutes release, updated prices) By Gertrude Chavez-Dreyfuss NEW YORK, Aug 18 (Reuters) – The dollar slipped from 4-1/2-month highs to trade little changed on Wednesday after minutes of last month’s Federal Reserve […]
Consumers are increasingly nervous about the variant, sparking concerns they will turn more skittish in their spending. Retail sales for July declined, while the University of Michigan’s survey of consumer sentiment pulled back sharply in early August and is now lower than it was during the worst of the pandemic last spring. Spiking inflation isn’t […]
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. UK inflation has slowed more sharply than expected in July, with the annual rate falling to 2% from 2.5% in June, the Office for National Statistics said. Economists had pencilled in a rate of 2.3%. It […]
Indianapolis is widely recognized as a major player in the U.S. high-tech sector, especially when compared to other cities of its size. It’s no surprise Verizon chose Indianapolis to be one of the first cities in the country to experience Verizon’s cutting-edge 5G network. As Verizon continues to invest in and deploy its 5G network […]
Though the design isn’t finalized, the grant would separate around 3,000 square feet from the boat ramp property and fence it off as a testing area, said Bob Sharak, senior business development manager for Norfolk’s economic development department. In that space, the city would install a floating dock to launch unmanned vehicles about the size […]
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv By Ritvik Carvalho LONDON, Aug 17 (Reuters) – Britain’s pound hits its lowest level in three weeks against the dollar on Tuesday as weakening risk sentiment weighed on global stock markets, hitting risk-correlated currencies including the commodity-linked Australian, Canadian […]
There are two risks high on Invesco’s radar, but the Taliban takeover in Afghanistan isn’t one of them. Kristina Hooper, the firm’s chief global market strategist, sees a Federal Reserve policy mistake and the Covid-19 delta variant as bigger threats to the U.S. economy and stocks. “This [Afghanistan] is certainly a human tragedy. It’s a […]
This image released by St. Martin’s Press shows “The Island” by Ben Coes. (St. Martin’s Press via AP) This image released by St. Martin’s Press shows “The Island” by Ben Coes. (St. Martin’s Press via AP) “The Island,” by Ben Coes (St. Martin’s Press) An army of 500 Iranian terrorists launch an attack on Manhattan, […]
The U.S. economy has been on a bit of a roll… Oxford Economics’ Recovery Tracker — which factors in things like demand, production, employment and public health — posted its 18th consecutive weekly gain at the end of June. The growth has been broad-based, too. Toward the end of June, 44 states posted a weekly […]
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