Economic news


Apple Hikes Japan Price of iPhone by nearly a Fifth

Apple Hikes Japan Price of iPhone by nearly a Fifth

Apple Inc has hiked by nearly a fifth the cost of its flagship iPhone phone in Japan, which is battling a weakening yen currency and rising inflation. The Cupertino, California-based manufacturer's entry level iPhone 13 now costs 117,800 yen ($870), Apple's website showed, compa...


July 1, 2022
Downturn Fears Support Dollar, Aussie Slumps to Two-Year Low
Downturn Fears Support Dollar, Aussie Slumps to Two-Year Low

Gathering gloom about prospects for the global economy lifted the safe-haven dollar on Friday and pressured risk-sensitive currencies, with the...

Chip Stocks Fall as Micron Outlook Signals Easing Demand
Chip Stocks Fall as Micron Outlook Signals Easing Demand

A handful of companies including chipmakers Micron and AMD are signalling an easing in the two-year long global shortage of semiconductor chips as...

Second Half Starts with Fresh Swings for Stocks
Second Half Starts with Fresh Swings for Stocks

The second half of the year started with more volatility for global stocks on Friday, as recession concerns that have built in recent weeks also...

Indian Shares Trim Losses after Reliance, ONGC Carnage
Indian Shares Trim Losses after Reliance, ONGC Carnage

Gains in consumer goods and financial stocks helped India's blue-chip share indexes recover sharply on Friday, after government export duties...

Rouble Slumps to 10-Day Low; Gazprom Shares Extend Losses
Rouble Slumps to 10-Day Low; Gazprom Shares Extend Losses

The Russian rouble plunged more than 6% against the dollar on Friday to its weakest level in 10 days, while shares in Gazprom extended losses...

U.S. Housing Hold-Ups Put Thousands of Jobs on the Line
U.S. Housing Hold-Ups Put Thousands of Jobs on the Line

U.S. mortgage lenders, refinancing companies and real-estate brokers may lay off thousands of employees in the coming months, industry sources...

Indian Rupee Hits Low, Breaches 79-Mark on Dollar Strength
Indian Rupee Hits Low, Breaches 79-Mark on Dollar Strength

The Indian rupee plunged on Friday to mark the fourth straight session of record lows, breaking below the 79-per-dollar mark, weighed down by broad...

AUD/JPY plunges as US likely to enter Recession; EU CPI
AUD/JPY plunges as US likely to enter Recession; EU CPI

Tremendous volatility in JPY and AUD!. It’s hard to say exactly what triggered the move. USD/JPY was moving lower (JPY strengthening)...

Fitch Cuts View on Global Sovereign Debt
Fitch Cuts View on Global Sovereign Debt

Credit rating agency Fitch downgraded its view on sovereign debt on Thursday on concerns about the rise in global borrowing costs and the potential...

Japan Business Mood Worsens on Hit from Rising Costs
Japan Business Mood Worsens on Hit from Rising Costs

The mood among Japan's big manufacturers' soured for a second straight quarter in the three months to June, a central bank survey showed on...

Japan's Factory Activity Growth Slows in June - PMI
Japan's Factory Activity Growth Slows in June - PMI

TOKYO, July 1 (Reuters) - Japan's factory activity growth slowed in June as supply disruptions in part due to China's strict COVID-19 curbs...

Australia Home Prices Slip in June as Sydney, Melbourne Drag
Australia Home Prices Slip in June as Sydney, Melbourne Drag

Australian home prices slipped for a second month in June as once red-hot markets in Sydney and Melbourne felt the chill from rising interest rates...

June 30, 2022
India's April-May Fiscal Deficit at $25.8 bln - govt
India's April-May Fiscal Deficit at $25.8 bln - govt

India's federal fiscal deficit between April and May touched 2.04 trillion rupees ($25.84 billion), or 12.3% of the year-to-March budgeted...

Walgreens Profit Beats on UK Pharmacy Sales Boost
Walgreens Profit Beats on UK Pharmacy Sales Boost

Walgreens Boots Alliance Inc reported a quarterly adjusted profit ahead of analysts' estimates on Thursday, as demand for its products in...

Supply Fears to Sustain Oil Rally, Trumping Recession Risks
Supply Fears to Sustain Oil Rally, Trumping Recession Risks

Oil prices are expected to stay above $100 a barrel this year as Europe and other regions struggle to wean themselves off Russian supply, a Reuters...

Copper Heads for its Biggest Quarterly Plunge since 2011
Copper Heads for its Biggest Quarterly Plunge since 2011

Copper prices fell on Thursday and were down almost 20% in the second quarter, the biggest quarterly fall since 2011, after COVID lockdowns in...

Germany in Bailout Talks with Uniper amid Gas Crisis
Germany in Bailout Talks with Uniper amid Gas Crisis

Germany’s Uniper is in talks about a possible government bailout as the financial fallout from dwindling supplies of Russian gas...

Stocks Sink on Fears for Economy, Capping Worst H1 on Record
Stocks Sink on Fears for Economy, Capping Worst H1 on Record

Stocks sank on Thursday to extend what is the worst first half of a year for global share prices on record, as investors fret that the latest show...

Novartis to Cut Up to 8,000 Jobs Globally
Novartis to Cut Up to 8,000 Jobs Globally

Novartis said on Tuesday a previously announced restructuring programme could lead to 8,000 jobs being cut, or about 7.4% of its global...

Indian Shares Suffer Worst Quarter Since Pandemic-Hit Start of 2020
Indian Shares Suffer Worst Quarter Since Pandemic-Hit Start of 2020

Indian shares on Thursday ended lower and clocked their worst quarter since the early days of the pandemic, beset by fears that aggressive central...

Basel Revises Bank Crypto Capital Plan to Include Blockchain
Basel Revises Bank Crypto Capital Plan to Include Blockchain

Banks should take a conservative approach to setting aside capital to cover risks from "unbacked" crypto assets on their books, the...

Futures Tumble on Last Day of Torrid First-Half
Futures Tumble on Last Day of Torrid First-Half

U.S. stock index futures slid on Thursday on the last day of a dismal first-half of the year on worries that central banks determined to tame...

RUB up; Gazprom Shares Plummet after it Skips Dividend
RUB up; Gazprom Shares Plummet after it Skips Dividend

The Russian rouble rose on Thursday, heading towards its strongest levels since 2015 as it retained support from high commodity prices, while...

FTSE 100 Set for First Quarterly Drop Since September 2020
FTSE 100 Set for First Quarterly Drop Since September 2020

London's FTSE 100 fell on Thursday and was set for its first quarterly drop since September 2020, as concerns grew that prolonged inflationary...

Oil Steady as Fuel Stocks Counter Supply Concerns
Oil Steady as Fuel Stocks Counter Supply Concerns

Oil prices were largely steady in volatile trading on Thursday as the market weighed concerns over global supply against a build in U.S. fuel...

Pound Rises Despite Record Current Account Shortfall
Pound Rises Despite Record Current Account Shortfall

The British pound rose against the dollar and euro on Thursday as investors shrugged off official data revealing a record shortfall in the United...

Gazprom Cancels Dividend for First Time since 1998
Gazprom Cancels Dividend for First Time since 1998

Russian gas giant Gazprom has decided not to pay dividends on last year's results, the first time it will not pay out since 1998, sending...

European Shares Face Worst Quarter since Early 2020
European Shares Face Worst Quarter since Early 2020

European shares on Thursday looked set for their worst quarter since the pandemic-led carnage in early 2020, as investors became increasingly wary...

CHF, USD Up while GBP falls; US personal Income & Spending
CHF, USD Up while GBP falls; US personal Income & Spending

Looking at the second graph above, today seems to be largely a continuation of yesterday – most of the currencies fall pretty neatly on the...

S&P 500 Limps to Slightly Lower Close as Quarter-End Looms
S&P 500 Limps to Slightly Lower Close as Quarter-End Looms

The S&P 500 ended a seesaw session slightly down on Wednesday as investors staggered toward the finish line of a downbeat month, a dismal...

June 29, 2022
Swiss Franc Jumps, Euro Trims Declines Against U.S. Dollar
Swiss Franc Jumps, Euro Trims Declines Against U.S. Dollar

The Swiss franc rose on Wednesday to its highest level against the euro in four months as rising recession fear in the euro zone led investors to...

Hyundai, Kia Raided over Suspected Defeat Devices in Germany
Hyundai, Kia Raided over Suspected Defeat Devices in Germany

German authorities have raided Hyundai and Kia over allegations that they put over 210,000 diesel vehicles with suspected illegal defeat...

S.Korean Consumer Sentiment Dips in June - Survey
S.Korean Consumer Sentiment Dips in June - Survey

South Korean consumers turned pessimistic about overall economic conditions in June for the first time in more than a year, while their inflation...

India Shares Fall; Crude Producers Jump on Sale Deregulation
India Shares Fall; Crude Producers Jump on Sale Deregulation

Indian shares fell on Wednesday to snap a four-day winning streak as worries over inflation resurfaced amid surging oil prices, while domestic...

H&M Profit Jumps as Shoppers Hit Stores after Pandemic
H&M Profit Jumps as Shoppers Hit Stores after Pandemic

H&M, the world's second-biggest fashion retailer, reported a forecast-beating 33% increase in March-May profit on Wednesday as shoppers...

Spain's 12-Month Inflation Surpasses 10% in June
Spain's 12-Month Inflation Surpasses 10% in June

Spanish 12-month inflation rose to 10.2% in June, the first time it has surpassed 10% since April 1985, from 8.7% in the previous month,...

European Stocks Lose Ground after Three-Day Rally
European Stocks Lose Ground after Three-Day Rally

European shares fell on Wednesday, as fears about a global recession overshadowed recent optimism about China reopening, with investors looking...

Toyota Misses May Production Target, 3rd Month of Shortfall
Toyota Misses May Production Target, 3rd Month of Shortfall

TOKYO, June 29 (Reuters) - Toyota Motor Corp's (7203.T) global production for the first five months of 2022 fell 9.7% short of its...

CHF Up on reassessment of SNB policy, others Follow rates
CHF Up on reassessment of SNB policy, others Follow rates

Currencies yesterday moved largely on interest rate changes. Sharp-eyed viewers may notice that CHF isn’t included in the above charts....

Rouble Rises Towards 50 vs Dollar, First Time Since May 2015
Rouble Rises Towards 50 vs Dollar, First Time Since May 2015

The Russian rouble rallied on Wednesday to its strongest levels in more than seven years, nearing 50 against the dollar for the first time since...

UK Economy Faces Threat of Inflation Surge, Recession Risk
UK Economy Faces Threat of Inflation Surge, Recession Risk

Britain's economy is struggling under the strain of two major risks in the form of double-digit inflation and a possible recession, leaving the...

Economic Slowdown Fears Pull FTSE 100 Lower
Economic Slowdown Fears Pull FTSE 100 Lower

UK's top share index slipped from two-week highs on Wednesday, echoing sharp losses in Asian equities and Wall Street overnight, as weak U.S....


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