6 d. ago Charting the Global Economy: US Inflation Picks Up Before Tariffs

Consumer spending was weaker than expected again in February while a key inflation metric picked up, in a double whammy for the US economy before the brunt of tariffs.

Economics

7 d. ago Market Rout Starts With Big Tech as Tariff, Inflation Fears Hit

US stocks buckled again Friday as risk assets were pummeled by everything from renewed tariff concerns to signs that inflation remains sticky while consumer spending wobbles.

Economics

7 d. ago US Consumer Spending Barely Rises, Key Inflation Gauge Picks Up

Consumer spending was weaker than expected again in February while a key inflation metric picked up, in a double whammy for the economy before the brunt of tariffs.

Economics

7 d. ago US inflation remained elevated last month as consumer spending recovered

WASHINGTON (AP) — An inflation gauge closely watched by the Federal Reserve remained high last month even before the impact of most tariffs has been felt. Americans’ spending rebounded in February after a steep fall last month and incomes increased. Friday’s report from the Commerce Department showed that consumer prices increased 2.5% in February from […]

Economics

8 d. ago U.S. economy grew 2.4% in the 4th quarter after upgrade from earlier estimate

WASHINGTON (AP) — The U.S. economy expanded at a healthy annual 2.4% pace the last three months of 2024, supported by a year-end surge in consumer spending, the government said Thursday in a slight upgrade of its previous estimate of fourth-quarter growth. But it’s unclear whether the United States can sustain solid growth as President […]

Culture

9 d. ago Sri Lanka Central Bank Chief Says Policy Rate Is Appropriate

Sri Lanka’s central bank governor said monetary policy is “appropriate” right now, as the South Asian nation’s economy and inflation are moving in line with their goals.

Events

2 w. ago Varcoe: Rising prices or slowing economy — Bank of Canada faces test picking priority amid tariff war

The on-again, off-again nature of the threat of tariffs is already clouding the investment climate and consumers' spending intentions

Economics

2 w. ago Varcoe: Will U.S. tariffs trigger Canadian stagflation? Bank of Canada faces test of rising prices, slowing economy

The on-again, off-again nature of the threat of tariffs is already clouding the investment climate and consumers' spending intentions

Economics

3 w. ago China orders banks to boost lending, credit card use to get consumers to spend more

BANGKOK (AP) — China has ordered banks and other financial institutions to encourage more consumer financing and use of credit cards as part of a campaign to get people to spend more. The order Friday from the country’s financial regulator is part of the ruling Communist Party’s latest push to build more confidence among consumers […]

Economics

3 w. ago Asian shares advance, despite Wall Street’s tumble, as China pledges to boost consumer spending

BANGKOK (AP) — Asian markets advanced Friday, shrugging off another decline on Wall Street, with markets in China gaining after state-run banks and other financial institutions were ordered to do more to help spur more consumer spending. U.S. futures and oil prices advanced. Hong Kong’s benchmark jumped 2.5% to 24,038.85, while the Shanghai Composite index […]

Other

3 w. ago 'This is a big loss for Canada': Hudson's Bay files for creditor protection to avoid bankruptcy

The company said significant pressures, including subdued consumer spending, trade tensions between the U.S. and Canada, and a post-pandemic decrease in downtown store traffic, are factors in the decision.

Economics

3 w. ago Hudson’s Bay seeks creditor protection, plans to restructure business

TORONTO — Canada’s oldest retailer, Hudson’s Bay, has filed for creditor protection and intends to restructure the business. The department store company that dates back to 1670 announced the move Friday evening, saying it has been facing “significant” pressures, including subdued consumer spending, trade tensions between the U.S. and Canada and post-pandemic drops in downtown […]

Economics

3 w. ago Hudson’s Bay seeks creditor protection, plans restructuring amid pressures

The company says it has been facing significant pressures, including subdued consumer spending, U.S. trade tensions and post-pandemic drops in downtown store traffic.

Economics

4 w. ago Turkey’s central bank lowers key interest rate as inflation slows

ANKARA, Turkey (AP) — Turkey’s central bank lowered its key interest rate by a further 2.5 percentage points on Thursday, days after official figures indicated a slowdown in inflation that has eroded households’ purchasing power. The bank’s Monetary Policy Committee said it was reducing its benchmark one-week repo rate from 45% to 42.5%. It was […]

Economics