With Brexit 12 weeks away, uncertainty squeezing UK economy

Europe 01/04/19, 07:13

With Britain just 12 weeks away from the day it is meant to leave the European Union, one thing is becoming clear — uncertainty over what Brexit will mean is hurting the economy.A raft of economic figures released Friday showed the British economy weakening at the turn of the year ...

Falling oil prices push eurozone inflation to 8-month low

Europe 01/04/19, 05:04

Official figures show that falling oil prices reduced inflation in the 19-country eurozone in December to its lowest in eight months.Eurostat, the European Union's statistics agency, said consumer prices were up 1.6 percent in the year to December, down from the previous month's 1.9 percent and the lowest since April. ...

US new-vehicle sales in 2018 rise slightly to 17.27 million

Business 01/03/19, 19:32

Sales of new vehicles in the U.S. rose slightly in 2018, defying predictions and highlighting a strong economy.Automakers reported an increase of 0.3 percent over a year ago to 17.27 million vehicles.The increase came despite rising interest rates, a volatile stock market, and rising car and truck prices that pushed ...

Turkey’s inflation eases to 20.3 percent in December

Business 01/03/19, 03:29

Official figures show that Turkey's inflation rate eased for the second consecutive month in December, helped by tax cuts and discounted prices on consumer goods.The Turkish Statistical Institute said Thursday that consumer prices in the year to December stood at 20.3 percent — 0.40 percent down from November.Turkey's inflation had ...

US home price growth slowed in October

Business 12/26/18, 10:17

U.S. home price growth slowed in October, a likely consequence of higher mortgage rates having worsened affordability and causing sales to fall.The S&P CoreLogic Case-Shiller 20-city home price index rose 5 percent from a year earlier, down from an annual gain of 5.2 percent in September, according to a Wednesday ...

US stocks fall again following several days of steep losses

Business 12/20/18, 11:44

Stock prices are falling further on Wall Street Thursday, a day after another big plunge rocked markets around the world.The benchmark S&P 500 index has slumped more than 6 percent in the last six days and is now 15 percent below the peak it reached in late September. After steady ...

UK inflation eases but outlook depends on Brexit

Europe 12/19/18, 05:35

Inflation in Britain rose in November by its weakest rate in 21 months, a development that's likely to cheer consumers as they get ready for some last-minute Christmas shopping.The Office for National Statistics said Wednesday that consumer prices were up 2.3 percent in the year to November, down slightly from ...

Saudi spending to hit record high as oil prices resume slide

Business 12/18/18, 11:48

Saudi Arabia's expenditures will hit a record-high in 2019 as the government plans to increase state spending by 7 percent to reach $295 billion despite plunging oil prices.King Salman announced the figures on Tuesday, saying the government expects revenue to increase by more than 9 percent to hit $260 billion. ...

Prosecco’s bubble shows no sign of bursting

Europe 12/17/18, 05:50

Prosecco, the fruity sparkling wine made in the northeastern hills of Italy is gaining in global popularity — and producers of Champagne, for so long the dominant bubbly wine, are taking note.Prosecco has become the best-selling sparkling wine in the world by volume, and experts say it is eroding the ...

US retail sales rose scant 0.2% in November

Business 12/14/18, 08:34

U.S. retail sales increased a slight 0.2% in November, as strong sales tied to holiday shopping were offset by lower gasoline prices.FILE- In this Nov. 23, 2018, file photo shoppers walk through Dolphin Mall while shopping on Black Friday in Miami. (AP Photo/Lynne Sladky, File)The Commerce Department said Friday that ...

US oil prices predicted to climb in 2019 on lower supply

Business 12/13/18, 13:06

After a turbulent two months during which oil prices plummeted from a four-year high to a one-year low, investors may wonder what comes next for U.S. crude.Analysts at Swiss bank UBS are among those who predict prices will recover in 2019, as oil cartel OPEC, the U.S. and Russia curb ...

Global stocks jump as technology and energy companies rise

Business 12/12/18, 10:24

Global stock indexes jumped Wednesday to reverse some of their big losses from the week before. In the U.S., technology companies rallied and energy companies rose along with crude oil prices. Health care and industrial companies also jumped, while safer, high-dividend stocks like utilities and household goods makers were little ...

US consumer prices flat in November as energy plunges

Business 12/12/18, 09:02

U.S. consumer prices were unchanged in November, the best performance since prices actually fell eight months ago. The docile inflation reading reflected a big drop in the cost of gasoline and other energy products.The Labor Department said Wednesday that the unchanged inflation reading last month followed a 0.3 percent jump ...

US wholesale prices rise 0.1 pct., a sign inflation in check

Business 12/11/18, 08:33

U.S. wholesale prices barely rose last month as a sharp decline in the cost of gas offset pricier freight trucking services and mobile phone plans.The Labor Department said Tuesday that the producer price index — which tracks cost changes before they reach the consumer — increased 0.1 percent in November ...

Bull’s eye on US’ Permian Basin as oil prices rise

Business 12/07/18, 14:33

Some of the largest energy companies in the U.S. have already invested billions of dollars on claims up and down the Texas-New Mexico state line, tapping one of the nation's richest and most prolific oil and natural gas regions.Now the stakes just got higher, as the U.S. Geological Survey released ...

Oil prices perk up on trade truce, possible OPEC decision

Business 12/04/18, 03:16

A rally in oil prices after a two-month slide indicates traders are betting that OPEC and its allies including Russia will agree to produce less crude.Representatives of oil-producing nations will hold a highly anticipated meeting Thursday in Vienna, with analysts predicting that they will agree on a cut of at ...

Stocks climb after US-China trade truce; oil price surges

Business 12/03/18, 11:49

Stocks moved higher in morning trading on Wall Street Monday after the U.S. and China agreed to a 90-day truce in their escalating trade dispute.Technology companies led the rally, which followed gains in overseas markets as investors welcomed news of the temporary stand-down, which was agreed to over dinner between ...

Inflation angst: Businesses face higher labor, vendor costs

Business 11/28/18, 13:36

Diners are willing to pay more at Manhattan's upscale Gotham Bar and Grill, but price increases these days aren't about snob appeal — the restaurant is contending with higher costs, particularly from rising wages. "We have been forced to raise our prices to offset this expense and our pricing still doesn't ...

US home prices rise more slowly amid weaker sales

Business 11/27/18, 15:23

U.S. home prices increased more slowly in September from a year ago as higher mortgage rates weighed on sales.The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 5.1 percent from a year earlier. That's down from a 5.5 percent yearly gain in the previous month. It was the ...

Markets Right Now: Global stocks climb after recent losses

Business 11/26/18, 09:42

The latest on developments in financial markets (all times local):___9:35 a.m.Stocks in the U.S. and Europe are rising as global markets recover some of their recent losses.Technology companies and retailers rallied Monday. Microsoft added 2 percent and Amazon rose 2.4 percent.Oil prices and energy companies jumped. Benchmark U.S. crude rose ...

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