China’s government has created a national data bureau to meet “the requirements of the digital China strategy,” the state-controlled Global Times (GT) newspaper reported last week after the move was approved by the National People's Congress.
Category: 14 March 2023
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SPOTLIGHT ON GAS AND OIL
The 27 member countries of the European Union (EU) will buy natural gas collectively in an attempt to negotiate lower prices from suppliers by signing long-term agreements for bulk purchases.
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ITALY’S CENTRAL BANK CHIEF SLAMS INTEREST RATE HAWKS
In a speech last week, Ignazio Visco, governor of Italy’s central bank, criticized several of his European counterparts who have insisted the European Central Bank (ECB) continue to raise interest rates to tamp down inflation.
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CENTRAL BANKS IN CANADA, JAPAN LEAVE INTEREST RATES UNCHANGED
For the first time in almost a year, the Royal Bank of Canada did not raise its key interest rate at this month’s meeting of its policy committee.
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INVESTORS EXPECT A FLOODED EUROPEAN BOND MARKET
The European Central Bank (ECB) is going to speed up the reduction in its bond holdings this summer, analysts expect, at the same time that national governments short of cash will be issuing new bonds to raise money, the Financial Times reported.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
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LAYOFFS IN JANUARY AND FEBRUARY WERE MOST IN 14 YEARS
Racking up their worst record in 14 years, U.S. employers dumped 180,000 workers during the first two months of this year, the largest number during that two-month stretch since 2009. Wonder why the Silicon Valley Bank went bust? Tech companies accounted for about a third of the jobs erased, according to a new report from......
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U.S. ECONOMY SPROUTS JOBS WHILE LAYOFF’S RISE?
U.S. nonfarm payrolls added 311,000 more workers last month as the unemployment rate edged up from 3.4 percent to 3.6 percent because more people ages 25 to 54 were actively looking for work, the Bureau of Labor Statistics reported.
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MEXICO’S CURRENCY IS YEAR’S TOP PERFORMER
The Mexican peso has gained 8.5 percent this year as of last week and was trading at less than 18 to the dollar, making it this year’s top-performing currency, according to the Financial Times.
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THE FED’S DEBATE: HOW BIG A RATE HIKE?
Analysts had been leaning toward the idea that the U.S. Federal Reserve would raise its key federal funds interest rate a half point at next week’s meeting to tamp down a jobs market that added a surprising 311,000 jobs in February as more people returned to the labor market.