Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) reported a profit for the second quarter that dropped 85.88 percent from last year as weak demand for memory chips persists. Quarterly sales also declined 22.28 percent from the previous year. The South Korean electronics giant reported that its net income attributable to the shareholders of the parent company for the second-quarter dropped 85.88 percent […]

Industrial production in the U.S. unexpectedly saw further downside in the month of June, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production slid by 0.5 percent in June, matching the downwardly revised decrease in May. Economists had expected production to come in unchanged compared to the 0.2 percent dip originally reported for […]

Following yesterday’s tamer-than-expected consumer price inflation data, the Labor Department released a separate report on Thursday showing producer prices in the U.S. also inched up by slightly less than expected in the month of June. The Labor Department said its producer price index for final demand crept up by 0.1 percent in June after falling by a revised 0.4 percent […]

Save articles for later Add articles to your saved list and come back to them any time. The ground has been shifting under the feet of the world’s central bankers, including our own Dr Philip Lowe, the outgoing chief of the RBA. This has weakened the power of higher interest rates to get inflation down. Like all economists, central bankers […]

Save articles for later Add articles to your saved list and come back to them any time. Liberal senator Jane Hume throwing her support behind Philip Lowe to head the Reserve Bank for another term wouldn’t have been a spirit-lifting moment for the central bank governor. His future just got more politicised. If Lowe even had a small chance of […]

The UK economy expanded modestly in the first quarter, as initially estimated, underpinned by services and production, revised data from the Office for National Statistics showed on Friday. Gross domestic product registered a sequential growth of 0.1 percent in the first quarter. The preliminary estimate was thus left unchanged and also matched the fourth quarter’s expansion. Still, the level of […]

Save articles for later Add articles to your saved list and come back to them any time. While very few of us early in our careers are locked into a mortgage, rising cost of living pressures (which we’ve termed “cozzie livs”) including soaring rents have tightened the lid on our spending. In the past year, I’ve bleached my own hair, […]

Save articles for later Add articles to your saved list and come back to them any time. When China suddenly dismantled its lockdowns and other COVID precautions last December, officials in Beijing and many investors expected the economy to spring back to life. It has not worked out that way. China’s post-COVID economic bounce has lost steam.Credit: AP Investment in […]

The Commerce Department released a report on Tuesday unexpectedly showing a sharp increase in new home sales in the U.S. in the month of May. The report said new home sales soared 12.2 percent to an annual rate of 763,000 in May after surging 3.5 percent to a revised rate of 680,000 in April. Economists had expected new home sales […]