45 h. 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

63 h. 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

66 h. 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

67 h. 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

3 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

7 d. ago Bond Market Looks to Inflation Data to Back Steeper Yield Curve

Bond investors are driving a wedge into the Treasury market in anticipation of slower economic growth and faster inflation, spurring demand for shorter-term Treasuries at ever-lower yields while longer-term yields drift higher. The next test comes with Friday data expected to show inflation remains elevated.

Economics

8 d. ago Sticky US Inflation and Tariffs Are Keeping the Fed Sidelined

US inflation remains at a disquieting level for Federal Reserve officials, just as the Trump administration moves forward with tariffs that risk keeping price pressures elevated.

Economics

9 d. 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

9 d. 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

2 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

2 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

2 w. ago US Inflation Seen Elevated in February, With Higher Food Prices

Economists forecast that US inflation probably stayed elevated last month after a large increase in January, adding to evidence that progress on taming prices has stalled.

Economics

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

3 w. ago Premier Doug Ford details how Ontario will retaliate against Trump's tariffs

Doug Ford took to his podium on Tuesday to yet again address the people of Ontario in regards to U.S. tariffs, which unfortunately came into effect on Canadian goods at 12:01 Tuesday morning.The premier reiterated his unrelenting stance against the move by U.S. President Donald Trump and his team and went over the various ways that Ontario will be reciprocating, a few of which Ford floated just before the same tariffs were delayed at the eleventh hour last month.With no delays from south of the border this time around, here are the immediate courses of action that the Province is taking:LCBO is removing U.S. products from shelvesHe teased it last month, but now, it's really happening: LCBO staff are actively withdrawing American alcohol brands from all stores provincewide as of Tuesday and are also ceasing wholesale activity for these labels to other establishments in the province."LCBO, the largest purchaser of alcohol in the world, will begin removing...

Economics

4 w. ago Charting the Global Economy: Rocky Start to Year for US Growth

US consumer spending weakened and the merchandise trade deficit widened markedly at the start of the year, pointing to a downshift in the world’s largest economy.

Culture