Economy

The incoming head of one of the world’s largest development banks says it must become faster and more efficient in order to finance priorities such as the climate transition and Ukraine rebuild. Nadia Calviño, Spain’s finance minister and deputy prime minister, was appointed head of the European Investment Bank Friday — in what has been touted

LONDON — Major companies in the energy and food sectors amplified inflation in 2022 by passing on greater cost increases than needed to protect margins, according to a new report. British think tanks the Institute For Public Policy Research and Common Wealth said in a report Thursday that big firms made inflation “peak higher and

Chinese President Xi Jinping chairs a symposium on advancing the integrated development of the Yangtze River Delta and delivers an important speech in east China’s Shanghai, Nov. 30, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images China’s top decision-making body of the ruling Communist Party on Friday said the country’s fiscal policy

A postal worker wearing a Santa hat, sorts through mail and packages during a media tour hosted by the US Postal Service at the Los Angeles Processing and Distribution Center, the largest in the country, equivalent to 29 football fields, on November 30, 2023.  Frederic J. Brown | AFP | Getty Images Job creation showed

Commuters arrive at the Oculus Center in Manhattan, New York City, on Nov. 17, 2022. Spencer Platt | Getty Images The labor market deteriorated for both Asian and Black workers in November, according to data released Friday by the U.S. Department of Labor. The overall unemployment rate declined 0.2% to 3.7% last month, against a

A UPS seasonal worker delivers packages on Cyber Monday in New York on Nov. 27, 2023. Stephanie Keith | Bloomberg | Getty Images November’s solid jobs report did not assure that the economy will come in for a soft landing, but it did help to clear the runway a little more. After all, there’s nothing

The U.S. job market once again surprised to the upside in November, as strong growth in health care and a few other sectors helped the economy add nearly 200,000 jobs and push the unemployment rate down. Health care and social assistance added more than 93,000 jobs for the month, making it the top category for

Amazon workers deliver packages on Cyber Monday in New York, US, on Monday, Nov. 27, 2023.  Stephanie Keith | Bloomberg | Getty Images At a time when the economy is supposed to be slowing, Friday’s jobs report is expected to show that employers actually picked up the hiring pace in November. Not that there’s anything

Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty Images The Chinese economy still has a “steep hill to climb” despite a surprise pickup in exports and is unlikely to be bolstered by further fiscal stimulus, according to HSBC‘s

A postal worker wearing a Santa hat, sorts through mail and packages during a media tour hosted by the US Postal Service at the Los Angeles Processing and Distribution Center, the largest in the country, equivalent to 29 football fields, on November 30, 2023.  Frederic J. Brown | AFP | Getty Images Private sector job

A member of the public walks through heavy rain near the Bank of England in May 2023. Dan Kitwood | Getty Images News | Getty Images LONDON — The Bank of England on Wednesday warned that although household finances are faring better than expected, higher borrowing costs have yet to fully feed through to the

Job openings tumbled in October to their lowest in 2½ years, a sign the historically tight labor market could be loosening. Employment openings totaled a seasonally adjusted 8.73 million for the month, a decline of 617,000, or 6.6%, the Labor Department reported Tuesday. The number was well below the 9.4 million estimate from Dow Jones

President Donald Trump praises departing economic adviser Gary Cohn (L) during a Cabinet meeting at the White House, Washington, March 8, 2018. Kevin Lamarque | Reuters The U.S. economy is “back to normal” for the first time in two decades, but the market is getting ahead of the likely pace of interest rate cuts, according

Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday. The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on

The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second

The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images Interest rate cuts don’t happen during good times, something important for markets to remember amid hotly anticipated easing next year from the Federal Reserve. If the Fed meets market

A security guard at the New York Stock Exchange (NYSE) in New York, US, on Tuesday, March 28, 2023. Victor J. Blue | Bloomberg | Getty Images With central banks having hiked interest rates at breakneck speed and those rates likely to stay higher for longer while the lagged effects set in, the macroeconomic outlook

Federal Reserve Governor Christopher Waller said Tuesday he’s growing more confident that policy is in a place now to bring inflation back under control. There was nothing in Waller’s prepared remarks for a speech in Washington, D.C., that suggests he’s contemplating cutting interest rates, and he noted that inflation currently is still too high. But