Asian Shares Slip After Wall Street Ends Its Best Month of ’23 With Big Gains

[ad_1] HONG KONG (AP) — Asian shares declined on Friday even after Wall Street closed out its best month of the year with big gains in November. U.S. futures rose while oil prices continued to drop despite the latest extension of OPEC’s production cuts. Even with continued cuts to output, other producers such as the … Read more

Federal Reserve’s Preferred Inflation Gauge Shows Price Pressures Continuing to Cool

[ad_1] WASHINGTON (AP) — The Federal Reserve’s preferred inflation measure cooled last month, the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth. Thursday’s report from the Commerce Department said prices were unchanged from September to October, down from a 0.4% rise the previous month. Compared … Read more

Inflation in Europe Falls to 2.4%. It Shows Interest Rates Are Packing a Punch

[ad_1] LONDON (AP) — Europeans again saw some relief as inflation dropped to 2.4% in November, the lowest in more than two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy’s ability to grow. Inflation for the 20 countries using the euro currency fell from an annual … Read more

Asian Shares Mostly Higher Ahead of US Price Update, OPEC+ Meeting

[ad_1] BANGKOK (AP) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna. U.S. futures rose and oil prices also advanced. Later Thursday, the U.S. government is due to release its October data on the Federal Reserve’s preferred measure of inflation. Economists … Read more

What Is the Outlook for Retirement in 2024? | Retirement

[ad_1] In 2024, factors such as inflation and two years of stagnation in the S&P 500 index, despite short-term rallies, have the potential to affect retirement. “We are in a new world of higher interest rates that we haven’t seen for 10-plus years since the Great Financial Crisis,” Jeff Rosengarten, a principal at Homrich Berg … Read more

US Economic Growth for Last Quarter Is Revised up to a 5.2% Annual Rate

[ad_1] WASHINGTON (AP) — Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. The government had previously estimated that the economy grew at a 4.9% annual rate last quarter. … Read more

The World Economy Will Slow Next Year Because of Inflation, High Rates and War, OECD Says

[ad_1] WASHINGTON (AP) — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an expected 2.9% … Read more

Asian Shares Mostly Fall After Wall Street Rallies

[ad_1] TOKYO (AP) — Asian shares mostly fell Wednesday although a strong report on U.S. consumer confidence and hopes the Federal Reserve is finished with its aggressive interest rate hikes sent shares higher on Wall Street. Japan’s benchmark Nikkei 225 declined 0.3% to finish at 33,321.22. Australia’s S&P/ASX 200 gained 0.3% to 7,035.30. South Korea’s … Read more

New Zealand Leader Plans to Ban Cellphone Use in Schools and End Tobacco Controls in First 100 Days

[ad_1] WELLINGTON, New Zealand (AP) — New Zealand’s new prime minister plans to ban cellphone use in schools and repeal tobacco controls in the ambitious agenda he released Wednesday for his first 100 days in office. Christopher Luxon outlined 49 actions he said his conservative government intended to take over the next three months. The … Read more

Interest Rates Are Likely High Enough to Bring Inflation Back to 2% Target

[ad_1] WASHINGTON (AP) — A key Federal Reserve official said Tuesday that he is “increasingly confident” that the Fed’s interest rate policies will succeed in bringing inflation back to the central bank’s 2% target level. The official, Christopher Waller, a member of the Fed’s Board of Governors, cautioned that inflation is still too high and … Read more