OECD says UK economy set for worst performance in G7

ft.com/content/3b819571-662d-4185-9ca5-c7e682b55700

Apr 16

US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...

Quick Glance: IMF upgrades global growth forecast despite risks

The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.

IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.

While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.

Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.

438

Apr 16

Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...

ft.com/content/14e6a4d4-8be7-46cf-bb51-8445b0e85dc1

Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago

The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals

Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy

Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product

Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula

381

Apr 17

UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.

bbc.com/news/business-68833077

Quick Glance: Powell Warns of Lack of Progress on Inflation

Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.

Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.

Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.

Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.

928

Apr 17

US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy

ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0

Quick Glance: IMF Warns of Fiscal Deficits in US and China

The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.

Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.

In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.

The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.

112

Apr 16

Jay Powell says US inflation ‘taking longer than expected’ to hit target: Comments from Federal Reserve chair come amid mounting doubts about pace of interest ...

ft.com/content/3d0ddbe1-4637-4262-ba40-934015606166

74

Apr 13

Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.

axios.com/2024/04/13/biden-trump-inflation-worse-tariffs

Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse

The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.

March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.

Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.

Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.

80

Apr 14

March's inflation data had good and bad news about food: It's getting increasingly cheaper to eat at home.

axios.com/2024/04/10/march-cpi-food-inflation

40

Apr 15

Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...

ft.com/content/bdd37729-8225-4f52-ae88-a7edeb329bb5

20

Apr 14

US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year

ft.com/content/7d1199bb-8283-49c3-801e-249938bcbae8

35

12

smh.com.au/politics/federal/if-the-reserve-bank-were-a-football-coach-it-would-have-been-sacked-eons-ago-20240418-p5fkv9.html

7h

If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...

29

Apr 16

Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’

ft.com/content/7cc89622-66a7-4b1c-9b2e-138f121a4731

10

12

ZDF

zdf.de/nachrichten/wirtschaft/rentner-deutschland-steuern-grundfreibetrag-100.html

Apr 15

Basic tax-free allowance: 244,000 pensioners do not have to pay taxes: The basic tax-free allowance was increased at the turn of the year to compensate for ...

125

Apr 12

Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...

thehill.com/policy/energy-environment/4590251-biden-administation-raises-costs-drill-public-lands/

Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors

The Biden administration has finalized a new rule requiring oil companies to pay at least ten times more for drilling on federal lands to generate more revenue for taxpayers.

While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.

The rule mandates higher bonds and royalties for fossil fuels on federal lands to better compensate taxpayers and cover the costs of cleaning up abandoned wells.

In addition to reshaping fossil fuel production on federal lands, the administration has advanced renewable energy development on these tracts and significantly reduced rents and fees for clean energy projects.

7 similar articles

44

226

smh.com.au/politics/federal/business-defaults-soar-as-australian-house-prices-outpace-the-globe-20240416-p5fk42.html

Apr 16

Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...

6 similar articles

20

197

NPR

npr.org/2024/04/12/1244273973/forever-stamp-cost-price-going-up-usps-postage

Apr 12

The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?

235

Apr 16

International Monetary Fund: Germany in last place among industrialized nations (again)

spiegel.de/wirtschaft/unternehmen/internationaler-waehrungsfonds-senkt-erneut-wachstumsprognose-fuer-deutschland-a-49d8a54b-1dbe-4406-a72b-604e1115b2b4

8 similar articles

45

291 10

Insider (news website)

B-

Apr 14

California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...

businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4

Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay

A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.

Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.

The increased minimum wages worsen the existing challenges faced by independent restaurants in California.

Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.

45

Apr 14

Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries

reuters.com/markets/us/wall-st-week-ahead-surging-us-energy-shares-reflect-robust-growth-inflation-2024-04-12/

74

Apr 13

Auto insurance premiums are skyrocketing. What's to blame?: Inflation accelerated more than expected in March, and an unsuspecting culprit may be to blame: auto ...

foxbusiness.com/economy/auto-insurance-premiums-are-skyrocketing-whats-blame

72

35

ZDF

zdf.de/nachrichten/wirtschaft/ezb-leitzinsen-banken-sparer-kredite-100.html

Apr 15

What the key interest rates mean for savers: Inflation is falling - the ECB is heading for a possible first interest rate cut. Consumers could already be feeling ...

144

Apr 17

How California fast food restaurants raised menu prices in response to $20 minimum wage

nypost.com/2024/04/16/business/california-fast-food-restaurants-raised-prices-due-to-minimum-wage/

49

Apr 13

Did your car insurance rate go up a lot even though you don’t drive much?: Drivers nationwide are facing the biggest car insurance rate increases since 1976.

cnn.com/2024/04/12/business/car-insurance-rate-go-up/

316

Apr 15

Gold is back — and it has a message for us: The precious metal’s surge may herald a whole new world

ft.com/content/bdcb7d8a-e958-4910-9d1b-a6a519812503

6

2h

Billionaire In-N-Out heiress Lynsi Snyder claims she went 'toe-to-toe' to keep prices down as Calif. fast food industry, prices slammed by minimum wage hike

nypost.com/2024/04/11/business/in-n-out-president-lynsi-snyder-went-toe-to-toe-to-keep-menu-prices-down/

12

Apr 17

Ringgit opens higher despite greenback strength: KUALA LUMPUR: The ringgit opened higher against the US dollar today although the greenback’s appeal as a ...

thestar.com.my/business/business-news/2024/04/17/ringgit-opens-higher-despite-greenback-strength

3 similar articles

2

12

smh.com.au/politics/federal/why-is-beer-so-expensive-20240411-p5fj5n.html

Apr 13

Why is beer so expensive?: Inflation for most goods and services has been falling since late 2022, but the price of beer has risen at its fastest rate in decades ...

timesofoman.com/article/144450-is-it-the-right-time-to-buy-gold-or-wait-as-prices-continue-to-soar

18

200

Times of Oman Apr 17

Is it the right time to buy gold or wait as prices continue to soar: Is it the right time to buy gold as prices spiral?

6 similar articles

4

5

Investor's Business Daily

D

Apr 16

Is It Time To Buy Gold Stocks And ETFs As Gold Futures Hit A High? Here's What Charts Show

investors.com/research/gld-stock-a-buy-right-now-heres-what-charts-show-2/

3

Apr 16

Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...

news.sky.com/story/real-earnings-growth-at-its-highest-rate-in-nearly-two-and-a-half-years-13116319

Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England

An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.

Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.

The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.

The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.

23

Apr 14

Wall Street traders keep underestimating America’s economic strength: It's the exact opposite of what happened in the 2010s

axios.com/2024/04/14/stock-market-bonds-interest-rates-us-economy

12

Apr 16

Why child care costs are soaring: Wages in the industry have risen fast in the last few years — but they're still pretty low.

axios.com/2024/04/16/child-care-costs

7

The Economist

economist.com/leaders/2024/04/17/americas-interest-rates-are-unlikely-to-fall-this-year

15h

America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy

7

Apr 15

Here are the tax brackets to file your 2023 taxes: The tax brackets for Americans will shift upward for tax year 2023, following a series of rule adjustments to ...

thehill.com/business/4595268-here-are-the-tax-brackets-to-file-your-2023-taxes/

3

Apr 13

When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election

economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts

6

Apr 13

Trump to host rally on Biden's home turf in northeast Pennsylvania: Donald Trump’s rally in northeast Pennsylvania, an area President Joe Biden considers home ...

abcnews.go.com/Politics/wireStory/trump-host-rally-bidens-home-turf-northeast-pennsylvania-109189340

94

Apr 16

The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells

ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750

1

4

smh.com.au/business/companies/multinational-giants-urged-to-front-supermarket-inquiry-for-playing-hardball-20240411-p5fj6q.html

Apr 14

Multinational giants urged to front supermarket inquiry for ‘playing hardball’: Australian retailers have turned their sights on global suppliers such as Nestle ...

6

85

The Wall Street Journal

B

Apr 14

The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us.: There is no single formula for how much you need to save in your 401(k).

on.wsj.com/3J2sYeI

11

149

smh.com.au/business/the-economy/coping-with-higher-prices-on-smaller-portions-and-chicken-nuggets-20240411-p5fj5t.html

Apr 14

Coping with higher prices on smaller portions and chicken nuggets: The past few years have been tough financially for many of us, and it’s potentially changing ...

5

Apr 12

Biden heading to his Pennsylvania hometown to talk taxes: Despite the healthy job market, a near-record-high stock market and a decline in inflation ...

pennlive.com/politics/2024/04/biden-heading-to-his-pennsylvania-hometown-to-talk-taxes.html

8

Apr 15

Why the US dollar is setting off alarm bells around the world: Suddenly, tension and uncertainty have gripped financial markets, making them highly volatile.

theage.com.au/business/markets/why-the-us-dollar-is-setting-off-alarm-bells-around-the-world-20240415-p5fjta.html

4

132

PBS

pbs.org/newshour/economy/how-migrant-workers-have-contributed-to-strong-u-s-job-growth

Apr 12

How migrant workers have contributed to strong U.S. job growth: It turns out that the influx of foreign-born adults vastly raised the supply of available workers ...

11

Apr 13

Why Democrats are losing Asian Americans: Asian American voters in 2024 are increasingly engaged in politics given recent inflation, crime and education ...

thehill.com/opinion/4581602-why-democrats-are-losing-asian-americans/

7

Apr 12

Inflation rate falls: That's why shopping is getting cheaper again: Food is becoming cheaper again in Germany for the first time in a long time ...

rundschau-online.de/wirtschaft/inflation-darum-wird-einkaufen-wieder-guenstiger-774416

0

Apr 15

[INTERVIEW] Gov't to bolster growth of strong exporters via public procurement system

koreatimes.co.kr/www/biz/2024/04/488_372693.html

1

Apr 12

Dow tumbles 475 points, S&P 500 suffers worst day since January as inflation woes erupt

cnbc.com/2024/04/11/stock-market-today-live-updates.html

18

Apr 13

Trump’s rally in Pa. will be the last one before his hush money trial: The presumptive Republican nominee is scheduled to speak Saturday night at the ...

pennlive.com/politics/2024/04/trumps-rally-in-pa-will-be-the-last-one-before-his-hush-money-trial.html

2

Apr 13

I saved $1,700 eating leftover food from NYC's top restaurants — here's the gourmet haul I got for mere dollars

nypost.com/2024/04/12/lifestyle/i-saved-1700-eating-leftover-food-from-nycs-top-restaurants-what-i-got/

channelnewsasia.com/singapore/malaysians-working-jobs-ringgit-inflation-manpower-employment-4265736

7

27

CNA Apr 16

More Malaysians seeking jobs in Singapore amid weakening ringgit, inflation: Recruiters

4

Apr 13

Biden's bad news on inflation: Inflation is rearing its ugly head again and it's a nightmare for Biden on several fronts.

axios.com/2024/04/10/cpi-inflation-report-biden-march

1

Apr 15

Social Security's COLA estimate rises. But seniors could struggle as inflation heats up.

usatoday.com/story/money/personalfinance/2024/04/10/2025-cola-estimate-higher-inflation-social-security/73272852007/

6

Apr 12

BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal

cnbc.com/2024/04/12/blackrocks-larry-fink-sees-fed-cutting-rates-twice-this-year-but-missing-2percent-inflation-goal.html

0

Apr 12

Soaring prices pose threat to consumers, and Biden: Crude's flirtation with levels above $90 are both a political and economic challenge.

axios.com/2024/04/12/crude-prices-inflation-gas

1

Apr 13

When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election

economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts

0

Apr 14

Morning Bid: De-risking, seeking safety as Middle East tensions rise: A look at the day ahead in Asian markets.

reuters.com/markets/global-markets-view-asia-graphic-pix-2024-04-14/

1

Apr 12

U.S. consumer sentiment falls slightly as outlook for inflation worsens: Consumer sentiment about the U.S. economy has ticked down but remains near a recent high ...

nbcnews.com/business/economy/us-consumer-sentiment-falls-slightly-outlook-inflation-worsens-rcna147638

2

8h

Cryptoverse: Bitcoin prices could soar after halving: The halving reduces new supply of Bitcoin and is expected around April 20

gulfnews.com/your-money/cryptocurrency/cryptoverse-bitcoin-prices-could-soar-after-halving-1.1713263975353

0

7h

Rain check on market cheer: Although useful, monsoon forecast does not guide us about farm sector prospects

financialexpress.com/opinion/rain-check-on-market-cheeralthough-useful-monsoon-forecast-does-not-guide-us-about-farm-sector-prospects/3458954/

19 similar articles

0

CoinDesk

C

17h

What Is Bitcoin Meant to Hedge?: The cryptocurrency underperformed this week as an economic safe haven. But bitcoiners are taking a longer term view.

coindesk.com/consensus-magazine/2024/04/17/what-is-bitcoin-meant-to-hedge/

0

5h

ECB’s Lagarde urges private capital need to boost innovation in Europe: At a Council on Foreign Relations meeting on Wednesday, European Central Bank President ...

euronews.com/business/2024/04/18/ecbs-lagarde-urges-private-capital-to-boost-energy-transition-and-innovation-in-europe

0

Apr 14

What China’s central bank and Costco shoppers have in common: Hint: it is not a fondness for cryptocurrencies

economist.com/finance-and-economics/2024/04/11/what-chinas-central-bank-and-costco-shoppers-have-in-common

0

Apr 16

UK facing food shortages and price rises after extreme weather: Heavy rain likely to cause low yields in Britain and other parts of Europe ...

theguardian.com/environment/2024/apr/16/uk-facing-food-shortages-and-price-rises-after-extreme-weather

saudigazette.com.sa/article/642091

1

122

Saudi Gazette/ Apr 16

GASTAT: Saudi annual inflation slowed to 1.6% in March: Inflation, which is measured by consumer price index, dropped to 1.6 percent during the last month of ...

34 similar articles

0

ZZ-Online Apr 16

Restaurants with higher prices and fewer customers: For months, the Dehoga restaurant association tried to prevent the return to 19 percent VAT on food in ...

nordsee-zeitung.de/Nachrichten/Restaurants-mit-hoeheren-Preisen-und-weniger-Gaesten-203792.html

15 similar articles

0

Bloomberg

B

1h

US Rent Inflation Looms Over Potential Interest-Rate Cut: Rent increases are taking longer to moderate in the Northeast and Midwest than in the West and South.

bloomberg.com/news/articles/2024-04-18/us-rent-inflation-looms-over-potential-interest-rate-cut

0

4h

ECB’s Vasle Sees Limit to How Far Lagarde’s ECB Can Diverge From Powell and Fed: The European Central Bank can’t fully disregard inflation dynamics and monetary ...

bloomberg.com/news/articles/2024-04-18/ecb-s-vasle-sees-limit-to-how-far-lagarde-s-ecb-can-diverge-from-powell-and-fed

0

10h

Asia Budget-Store Billionaires Get Richer From Inflation Pain: Not everyone is a loser when it comes to inflation.

bloomberg.com/news/articles/2024-04-17/billionaires-selling-cheap-stuff-get-richer-from-inflation-pain

0

4h

Consumer spending shoots up on higher prices amid declining sales in retail sector

standardmedia.co.ke/enterprise/article/2001493354/consumer-spending-shoots-up-on-higher-prices

0

5h

Asian shares mixed as Fed's Powell rethinks rate cuts, yields jump - Markets - The Jakarta Post

thejakartapost.com/business/2024/04/17/asian-shares-mixed-as-feds-powell-rethinks-rate-cuts-yields-jump.html

scroll.in/latest/1066605/bjps-poll-manifesto-is-jumlebazi-quiet-on-msp-guarantee-employment-and-inflation-opposition

0

Scroll.in

B-

Apr 14

BJP’s poll manifesto is jumlebazi, quiet on MSP guarantee, employment and inflation: Opposition

0

20h

Neil Shearing: What You Might Be Missing About the Current Economy: A global economist weighs in on inflation, upcoming elections, and deglobalization.

morningstar.com/personal-finance/neil-shearing-what-consensus-is-missing-about-current-economy

5 similar articles

0

Associated Press

apnews.com/article/dr-martens-stock-revenue-decline-ceo-be84f545f5dbfdf623cba59c5abfea2b

Apr 16

Dr. Martens stock plunges after dour US revenue outlook : Chunky bootmaker Dr. Martens is warning of a tough year ahead. Dr. Martens shares plunged more than 30% ...

Quick Glance: Dr. Martens: Issues with Chinese Competition

Weak demand and cheap Chinese competitors impact Dr. Martens.

Gloomy outlook for 2025 due to weak US demand.

Lawsuit against Chinese providers Temu and Shein for trademark violations.

Fashion industry under severe pressure from Chinese competition.

0

17h

Why Is US Inflation Still High? Blame Powell Pivot, Housing Shortage: This was supposed to be the year that US inflation rode the last mile down to 2% ...

bloomberg.com/news/articles/2024-04-17/inflation-s-stubborn-start-to-2024-blamed-partly-on-powell-pivot

0

11h

Fed's Loretta Mester Expects Inflation to Fall Further: Federal Reserve Bank of Cleveland President Loretta Mester said monetary policy is in a good place ...

bloomberg.com/news/articles/2024-04-17/mester-says-fed-can-hold-rates-steady-not-in-a-hurry-to-cut

seekingalpha.com/article/4684006-consumers-binge-despite-higher-interest-rates-and-the-fed-watches-them-nervously

0

5 3

SeekingAlpha Apr 16

Consumers Binge Despite Higher Interest Rates, And The Fed Watches Them Nervously

0

15h

US Economy Has 'Expanded Slightly' Since Late February, Fed Beige Book Says

bloomberg.com/news/articles/2024-04-17/us-economy-expands-slightly-inflation-modest-fed-beige-book