Economy

It is a make-or-break moment for China’s relationship with the European Union, as the bloc’s trade chief asks for more openness and fairness from Beijing. “We stand at a crossroads. We can choose a path towards mutually beneficial relations. One which is based on open, fair trade and investment, and working hand in hand on

In this article GS Follow your favorite stocksCREATE FREE ACCOUNT Frederic J. Brown | AFP | Getty Images Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs. Credit card losses bottomed in September 2021, and while initial increases were

An eagle sculpture stands on the facade of the Marriner S. Eccles Federal Reserve building in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images A looming government shutdown could prevent the Federal Reserve from raising rates in November, but not for the reason you might think, according to Bank of America. Not only would

The auto workers’ strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist. So far, the United Auto Workers stoppage has impacted just a small portion of the workforce with limited implications for the broader economy. But it is part of a pattern

A shopper peruses the meats section of a grocery store on September 12, 2023 in Los Angeles, California.  Mario Tama | Getty Images Inflation at the wholesale level rose more than expected in August, countering recent data showing that price increases have tempered lately. The producer price index, a measure of what producers get for

In this article MAERSK.B-DK Follow your favorite stocksCREATE FREE ACCOUNT A.P. Moller-Maersk, is one of the world’s biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade. Andia | UIG via Getty Images Copenhagen, DENMARK — Shipping giant Maersk on Thursday presented its first container

Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items. The consumer price index, which measures costs across a broad array of goods and services, rose a seasonally adjusted 0.6% for the month, and was up 3.7% from a year ago, the

Choochart Choochaikupt | Istock | Getty Images American consumers are worried about access to credit amid persistently higher interest rates and tighter standards at banks, according to a New York Federal Reserve survey released Monday. Respondents indicating that the ability to get loans, credit cards and mortgages is harder now than it was a year

Taylor Swift performs in Cincinnati, Ohio, June 30, 2023, during her Eras tour. Taylor Hill/tas23 | Getty Images Entertainment | Getty Images Taylor Swift is providing a gold rush for the hotel industry. The “Cruel Summer” singer’s attention-grabbing “Eras” tour has pushed up revenue for hotels in cities across the U.S., according to data from

European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax. Stefano Montesi – Corbis | Corbis News | Getty Images Italy’s shock tax on banks continues to prove controversial, even as the government insists it can improve it. Europe’s main bank stock index fell almost 3%

The unemployment rate rose sharply in August, as the summer of 2023 neared a close with a job market in slowdown mode. Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the Dow Jones estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday. However, the unemployment rate was 3.8%, up

The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong. The U.S. Department of Labor said Friday that the economy added 187,000 jobs in August even as the unemployment rate ticked up to 3.8%. Payrolls growth was

Pixelseffect | E+ | Getty Images The unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate. The overall unemployment rate ticked up to 3.8% last month, the highest since February 2022. It came as the labor force participation rate – a measure of the number of

Taylor Swift, Beyonce, Barbie, Oppenheimer Getty Images Consumer spending may not be out of the woods. Real spending is expected to come in 1.9% higher in the third quarter, helped in part by stadium tours from music superstars Taylor Swift and Beyoncé, as well as summer movie blockbusters “Barbie” and “Oppenheimer,” according to Morgan Stanley.

A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City.  Spencer Platt | Getty Images Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease

A woman waits on customers at the Same Day Cafe in the Logan Square neighborhood on August 18, 2023 in Chicago, Illinois. Scott Olson | Getty Images The amount of money most workers want now to accept a job reached a record high this year, a sign that inflation is alive and well at least

Traders work on the floor of the New York Stock Exchange (NYSE), August 15, 2023. Brendan McDermid | Reuters China’s economic model is “washed up on the beach” and “not going to take off again,” which will have a big impact on global markets, says veteran investor David Roche. Despite a remarkable rally in stock

Shoppers at Brickell City Centre in Miami, Florida, US, on Wednesday, June 14, 2023.  Eva Marie Uzcategui | Bloomberg | Getty Images Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger than expected showing for the month, the Commerce Department reported Tuesday. The advanced retail sales report