Economy

This 'underappreciated' black swan could bring fresh chaos to the global economy

This ‘underappreciated’ black swan could bring fresh chaos to the global economy

New week, same bounce. Stock futures point to fresh gains as investors grow optimistic that a bond route is ending, and the Fed’s rate-hike plans will get pruned due to a global slowdown. Of course, that optimism comes as discontent grows around the world from high commodity prices that have driven up food prices, crimped …

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G7 infrastructure projects get $200 billion from US

G7 infrastructure projects get $200 billion from US

The United States will contribute $200 billion over five years to a G7 infrastructure partnership, President Biden announced Sunday. Driving the news: The G7 countries aim to provide $600 billion by 2027 to the Partnership for Global Infrastructure and Investment, which seeks to meet the infrastructure needs of low- and middle-income countries. The partnership focuses …

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US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)

Carmaker IKCO unveils Iran’s first home-grown crossover

Iran’s minister of industries Reza Fatemi Amin (C) and IKCO’s CEO Mehdi Khatibi (L) are seen following the unveiling of Iran’s first home-made cross-over car at IKCO’s headquarters in the west of Tehran. (Photo by Asriran) Iran’s largest carmaker the IKCO has unveiled a first fully home-made crossover amid plans to comply with government directives …

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Dollar struggles as big rate hike bets cool By Reuters

Dollar struggles as big rate hike bets cool By Reuters

¬©Reuters. FILE PHOTO: US dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic By Saikat Chatterjee LONDON (Reuters) – The US dollar struggled versus its major rivals on Monday as traders reassessed the prospects of aggressive rate hikes, while the euro led gainers at the start of the European Central Bank’s …

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Windfall tax on Covid profits could ease ‘catastrophic’ food crisis, says Oxfam | Oxfam

Food, fossil fuel and pharmaceutical companies that have enjoyed bumper profits in the Covid-19 pandemic and its aftermath should be hit with a swingeing windfall tax on their excess income, the global head of Oxfam has said. A windfall tax of 90% on the excess profits globally would yield about $490bn that could be used …

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AUD/USD Prices Looking to Chinese Economic Data as APAC Trading Kicks Off

AUD/USD Prices Looking at Chinese Economic Data as APAC Trading Kicks Off

Australian Dollar, AUD/USD, Chinese Industrial Profits, Copper – Talking Points The Australian Dollar eyes further gains versus the US Dollar Chinese industrial profits data in focus to kick off APAC trading AUDUSD may face resistance from the 23.6% Fib and 20-day SMA Monday’s Asia-Pacific Outlook Chinese industrial profits data is set to cross the wires …

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Bank of Japan Summary of Opinions at the Monetary Policy Meeting, June 2022

Bank of Japan Summary of Opinions at the Monetary Policy Meeting, June 2022

> Bank of Japan Summary of Opinions at the Monetary Policy Meeting, June 2022 Headlines via Reuters: BOJ must maintain easy policy, keep close eye out on market, fx impact on economy, prices Number of goods seeing prices rise is increasing due to rising raw material costs and weak yen, but appropriate to keep easy …

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Small and medium-sized firms struggling with ‘a hat-trick of hurt’ | manufacturing industry

Britain’s army of more than a million small and medium-sized businesses are stockpiling raw materials and ordering components six months ahead to overcome supply shortages that prevent them from meeting customer demands. With construction costs reaching fresh record highs and import prices surging following a fall in the pound, businesses reported that much of their …

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