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China’s dream of a smooth post-pandemic economic recovery has already turned into a nightmare
The bad news just keeps coming for China’s ailing economy. Exports tanked 12% in June, according to data released Thursday. Slumping growth and deflationary risks are also sparking concern.China’s plan […] This post is only…
June wholesale prices rise less than expected in another encouraging inflation report
The producer price index for June had a smaller than expected increase, the Labor Department reported Thursday, in the latest sign that inflation is calming in the United States.The PPI for final […] This post is only…
China’s exports record biggest decline in more than 3 years
Dollar value of China’s exports plunged 12.4% in June from a year ago, a far bigger drop than expectations for a 9.5% decline in a Reuters poll and the 7.5% […] This post is only…
Bank of Canada raises key interest rate to 5%, highest since 2001
The Bank of Canada has increased its benchmark interest rate to 5 per cent and pushed out the timeline for getting consumer prices under control, warning that the downward momentum of inflation could stall […] This post is only…
Saudi output cuts help drive up one corner of global oil market
Prices for sour crude oil have climbed globally this month after top exporter Saudi Arabia hiked prices and expanded production cuts of higher-sulfur oil in the first sign its efforts […] This post is only…
Oil rises as U.S. inflation cools
Oil benchmark Brent futures breached $80 a barrel for the first time since May on Wednesday after U.S. inflation data suggested the interest rate hike cycle in the world’s biggest […] This post is only…
Gold rallies after report shows U.S. inflation cooling
Gold rallied Wednesday after new data showed inflation in the United States was cooling, suggesting the Federal Reserve may only hike interest rates one more time this year.Spot gold last gained […] This post is only…
Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases
The consumer price index rose 0.2% in June and was up 3% from a year ago, the lowest level since March 2021. Excluding food and energy, core CPI increased 0.2% […] This post is only…
Laurentian Bank puts itself up for sale, hires advisers to approach other Canadian lenders
Laurentian Bank of Canada LB-T +0.45%increase is up for sale, with larger rivals now circling the country’s ninth-largest lender in pursuit of a deal that would continue a trend toward consolidation in financial […] This post is only…