UK inflation surges to highest level in 30 years

Inflation increased to 5.4% in December, the Office for National Statistics said on Wednesday, the highest rate since 1992. The biggest price rises were for transportation, food and beverages, furniture, housing and household goods. Prices are now rising much faster than pay, making it more difficult for households to make ends meet. Wages increased at … Read more

China’s economy expanded 8.1% in 2021, but growth is slowing

The 2021 growth figure is roughly in line with the expectations set by many economists. And it outstrips the Chinese government’s target last year for its economy to expand at least 6%. But GDP expanded just 4% in the last quarter of the year compared to a year prior, according to government figures released Monday, … Read more

Fed Releases Transcripts of 2016 Policy Meetings

Transcripts released by the Federal Reserve on Friday revealed the extent of officials’ 2016 debate over how fast to move up interest rates after lifting them from near zero at the end of the previous year. Much of the discussion turned on geopolitical developments—first as a slowdown in China and in commodity prices threatened to … Read more

Budget to offer more fiscal support to economy amid uncertainty from third wave: Report

The rising uncertainty from the third wave of the pandemic will force the forthcoming Budget to push the fiscal pedal more to support the fragile recovery, and print in 6.5 per cent fiscal deficit as the government is likely to budget for around Rs 42 lakh crore of capex next fiscal, says a brokerage report. … Read more

Omicron effect: GDP growth to take a hit; RBI may delay reverse repo rate hike

While the Omicron variant-led third wave of Covid-19 in India might be around for a shorter duration, it may mildly increase the inflationary pressures and may cause a delay in a reverse repo rate hike from February to April, research firm Nomura wrote. Research shows that the Indian economy has entered the third wave in … Read more

Stock futures inch higher ahead of key jobs report

U.S. stock index futures were little changed during overnight trading on Thursday, ahead of Friday’s key jobs report. Futures contracts tied to the Dow Jones Industrial Average gained 65 points. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures added 0.3%. During regular trading the Dow fell 170 points, or 0.47%, while the S&P declined … Read more

Cramer says tech stocks could bottom one day after Nasdaq’s nosedive

Jim Cramer on CNBC’s Halftime Report. Scott Mlyn | CNBC CNBC’s Jim Cramer said tech stocks could bottom Thursday, one day after the Nasdaq‘s 3.3% plunge on rising bond yields and Federal Reserve tightening concerns. The “Mad Money” host said he’s glad there’s so much negativity in the market because as a stock picker for … Read more

Cramer says it’s impossible to recommend Chinese stocks in a hostile communist regime

CNBC’s Jim Cramer said Wednesday he can’t recommend investors buy Chinese stocks because the communist government there is a “total wild card.” Chinese President Xi Jinping “does not like capitalism,” Cramer told “Squawk Box,” saying the leader of the world’s second-largest economy “may be the first totalitarian dictator in a long time.” Cramer’s comments came … Read more

Private job growth totals 807,000 in December, more than doubling expectations, ADP says

Companies hired at the fastest pace in seven months in December ahead of escalating concerns over surging Covid cases, according to a report Wednesday from payroll processing firm ADP. Private job growth totaled 807,000 for the month, well ahead of the Dow Jones estimate for 375,000 and the November gain of 505,000. The November total … Read more

Markets and the economy brace as the Federal Reserve’s first rate hike could come in two months

The Marriner S. Eccles Federal Reserve building in Washington. Stefani Reynolds/Bloomberg via Getty Images If everything goes according to plan, the Federal Reserve in a little over two months will enact its first rate increase in three years, a move policymakers deem necessary and that markets and the economy are grudgingly coming to accept. The … Read more