Markets & Industries
Japan's central bank confirms the need to keep interest rates low - 07/26/2022
In order to assist Japan's fragile economy, Bank of Japan governors concurred at a meeting in June that the regulator should maintain exceptionally low interest rates, according to Reuters. Low rates should also guarantee that rising wages will be matched by escalating inflation. This was noted in the minutes of the June meeting of the Bank of Japan, which were released on Tuesday. Some of the...
Rystad: Abnormal heat pushes electricity prices in Europe to new highs - 07/21/2022
Rystad Energy analysts claim that unusual temperatures in numerous European nations are driving electricity costs to new all-time highs. According to industry analyst Fabian Rønningen, "a perfect storm of soaring gas costs due by supply concerns from Russia, high coal prices, poor wind speeds, and sweltering temperatures is pushing European spot power rates to record highs." He specifically...
U.S. investors cut risky assets due to crisis - 07/20/2022
In response to the financial crisis and in anticipation of bleak economic prospects, investors are exiting riskier assets, according to the Bank of America’s study. According to Bloomberg, who cites the Bank of America (BofA) study, investors are choosing to give up risky assets in light of the global crisis, U.S. inflation, and recession risk. The survey was attended by 259 responders, with a...
Largest fintech companies lose almost $500B in value - 07/19/2022
According to analysts at the research firm CB Insights, the projected value of the major financial technology companies has decreased by over $500 billion. Since 2020, over than 30 fintech businesses have gone public in the United States. At the time, investors were actively pouring money in these businesses because they thought the pandemic's rising digitalization will benefit them in the long...
IMF to "significantly" worsen global economic growth forecast - 07/18/2022
The chief of the IMF's strategy department forecasted that the organization would be compelled to "substantially" lower its estimate of global economic growth. In its July forecast, the International Monetary Fund (IMF) will need to "substantially" lower its projection for global economic growth, said Ceyla Pazarbasioglu, the director of the IMF's Strategy, Policy, and Analysis Department....
Economists expect high inflation and foreign trade deficit in Japan - 07/15/2022
In June, the annual rate of core inflation in Japan was higher than the central bank's objective of 2 percent, according to economists surveyed by Reuters. This is a warning that the economy is coming under more pressure from rising commodity prices and a falling yen. The numbers from the following week are likewise anticipated to reveal a very big yearly increase in June imports, which should...
U.S. inflation in June reaches 41-year high, exceeds forecasts - 07/14/2022
In June, the annual rate of U.S. inflation surpassed economists' expectations and set a 41-year record high of 9.1 percent. Increased pressure on the Fed and the Biden administration results from accelerated price growth. According to information from the US Labor Department, the U.S. consumer price index increased by 9.1% year over year in June, setting a record that has stood since the end of...
China increases agricultural exports by 21.7% - 07/13/2022
In the first half of 2022, China's agricultural exports increased by 21.7 percent to $45.08 billion while its agricultural imports increased by 5 percent to $109.5 billion, according to Li Kuiwen, spokesperson for the General Administration of Customs in China. Li Kuiwen reported that the first half of the year saw an increase of 21.7 percent in China's agricultural exports, reaching 303.1...
Global "tax revolution" for multinational corporations postponed until 2024 - 07/12/2022
According to Bloomberg and The Wall Street Journal, implementation of the global tax overhaul for multinational corporations would not begin until 2024. Work on tax adjustments for multinational firms is currently proceeding as part of an agreement signed under the auspices of the Organization for Economic Cooperation and Development (OECD) in October 2021. A reform that would allow countries...
Fitch improves outlook on U.S. rating - 07/11/2022
International rating agency Fitch confirmed the United States' long-term issuer default rating (IDR) at "AAA" while changing the outlook from negative to stable. The announcement stated that the outlook was changed to stable to reflect "better near-term public debt dynamics" brought on by "strong post-pandemic economic recovery" and "strong government revenues, which Fitch forecasts to expand by...
