Eurozone money supply registered its biggest fall on record and bank lending grew at a much slower pace in August amid tightening monetary policy and weak economic activity, data published by the European Central Bank showed on Wednesday. The M3 money supply posted an annual decline of 1.3 percent, following July’s 0.4 percent fall. This was the biggest fall on […]

The U.S. Census Bureau has issued its 2022 income statistics by race, age and location. The state income spread (including the District of Columbia) was significant. The median household income in D.C. was $101,027. At the far end of the list was Mississippi at $52,719. (25 Ways the Federal Poverty Rate Does Not Tell the Whole Story.) The spread between […]

The Federal Reserve released a report on Friday showing U.S. industrial production increased by much more than expected in the month of August. The report said industrial production climbed by 0.4 percent in August following a downwardly revised 0.7 percent advance in July. Economists had expected industrial production to inch up by 0.1 percent compared to the 1.0 percent jump […]

Save articles for later Add articles to your saved list and come back to them any time. The most transformative development in the auto industry’s history since Henry Ford pioneered mass production more than a century ago is threatening both the automotive establishment and its workers and causing angst on both sides of the Atlantic. In Europe, the European Commission […]

American Airlines Group, Inc. (AAL) on Wednesday trimmed its third-quarter earnings outlook, citing certain expenses and significantly higher fuel prices since the initial guidance issued on July 20. However, citing the continued strong operating performance, the company lifted its capacity view, and now expects it to be up approximately 6 percent to 7 percent, compared to previous view of 5 […]

The euro area economy is set to log a weaker-than-estimated growth this year and next as rising consumer prices continue to weigh on domestic demand and monetary policy tightening works its way through the economy. In the summer interim forecast, released Monday, the European Commission said the 20-nation currency bloc will grow 0.8 percent in 2023, which was revised down […]

Save articles for later Add articles to your saved list and come back to them any time. The $1 PwC Australia will receive for what was a $680 million government business is a clear indicator of the risks ahead for the proposed spin-off, Scyne Advisory. But if Scyne can flourish, its success could reshape the entire multibillion-dollar consulting sector. Scyne’s […]

Germany’s inflation slowed marginally in August as estimated but the rate remained elevated due to the increases in energy and food prices, final data from Destatis revealed on Friday. Consumer price inflation slowed to 6.1 percent in August from 6.2 percent in July. The statistical office confirmed the provisional estimate published on August 30. “The increases in energy and food […]

Save articles for later Add articles to your saved list and come back to them any time. It’s not yet clear whether the Reserve Bank’s efforts to limit inflation will end up pushing the economy into recession. But it is clear that workers and their households will continue having to pay the price for problems they didn’t cause. Prime Minister […]