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Rice prices have soared to their highest since November 2011 with the production of the cereal projected to drop by 2.7 per cent during the current season (August 2022-July 2023), the Food and Agriculture Organisation (FAO) has said. “Rice production is downgraded somewhat, largely on account of an area-based reduction for China, which overshadowed revisions … Read more
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, November 2, 2022. Elizabeth Frantz | Reuters The Federal Reserve is expected to raise interest rates by a smaller half percentage point Wednesday yet signal that its … Read more
U.S. President Joe Biden speaks about inflation at the White House in Washington, December 13, 2022. Kevin Lamarque | Reuters President Joe Biden on Tuesday celebrated the positive consumer price index report that showed inflation easing in the United States ahead of the holiday season. “We learned last month that the inflation rate came down, … Read more
The Federal Reserve’s policy meeting is the big event in the coming week, but Tuesday’s consumer inflation report could hold more sway for markets and even help set the central bank’s agenda. The consumer price index is unlikely to impact the Fed’s decision to raise rates by a widely anticipated half percentage point Wednesday. But … Read more
Morgan Stanley’s Chief U.S. Equity Strategist Mike Wilson expects a “pretty steep decline in inflation” between now and the end of next year. Consumer price increases could drop to 4% or 5% by June next year, and back to 2% or 3% by the end of 2023, he told CNBC’s “Street Signs Asia” Friday. That’s … Read more
The pandemic-fueled personal-computer boom has ended, so how will that affect demand and pricing for PCs and the retailers that sell them this holiday season? A sense of the fallout will be provided in the week ahead with results due from PC makers Dell Technologies Inc. DELL, +0.67% and HP Inc. HPQ, +0.17%, along with … Read more
The European Union’s ban on seaborne imports of Russian oil, along with the Group of Seven’s plan to cap prices of oil from Russia early next month won’t guarantee that prices for the commodity will see a lasting rally, or that supplies will tighten further in the days ahead. “In isolation, the sanctions on Russia … Read more
The euro zone economy is heading towards a recession, according to several economists. Daniel Roland | Afp | Getty Images The euro zone is expected to plunge into recession in the coming months with economists warning “it will not be shallow.” The 19-member zone that shares the euro currency has been under significant pressure since … Read more
Treasury yields fell sharply and eased their grip on the stock market Thursday, helping fuel the monster rally that broke out after a report of cooler-than-expected inflation data. The rise in yields this year has choked off stock market gains and weighed on technology and growth stocks in particular. They are high-priced stocks that do … Read more
Walt Disney Co. displaced Netflix Inc. as king of the video-streaming market, and it is expected to widen the gap. Disney DIS, +0.33% seized the mantle three months ago as its potent content troika of Disney+, Hulu and ESPN+ reached 221 million customers, edging Netflix’s 220 million subscribers. Analysts expect Disney to report more than … Read more