Economy

Liz Truss facing rural rebellion over anti-nature ‘growth’ push | Environment

Liz Truss is facing a rural revolt against her plans to prioritize a “dash for economic growth” over nature protection and the environment. Senior party figures, including under ministers Boris Johnson‘s premiership and former Tory leader William Haguehave joined the National Trustthe RSPBthe Angling Trust and Wildlife Trusts in criticizing what they see as environmental …

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Confidence slumps around the globe as cost of living crisis bites

A mood of mounting economic pessimism is taking hold across the world’s major economies, as soaring prices and geopolitical uncertainty damage the prospects of businesses and consumers. In the past year consumer and business confidence has fallen by the most in a decade, with the exception of the initial months of the coronavirus pandemic, according …

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How a sleepy corner of the market nearly triggered a meltdown

London CNN Business – Pension funds are designed to be dull. Their singular goal — earning enough money to make payouts to retirees — favors cool heads over brash risk takers. But as markets in the United Kingdom went haywire last week, hundreds of British pension fund managers found themselves at the center of a …

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Choked-Up Yards and Trailer Box Shortages Among America’s Truckers

Mateo Carrera climbed into his white Volvo truck in Joliet, Ill., around 3:30 am one Friday late last month, and drove on dark roads outside Chicago to collect a load for the Michaels arts-and-crafts chain. The cargo was packed into a shipping container buried in a stack of boxes waiting for pickup in a freight …

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Why Long-Term Investors Should Ignore the Midterms

Text size Regardless of which political party is in office, don’t make short-term reactions based on elections, writes Isabel Barrow. Michael M. Santiago/Getty Images About the author: Isabel Barrow he is the director of financial planning at Edelman Financial Engines. We’re on the cusp of the 2022 mid term elections This cornerstone of our democracy …

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Here’s how much money the average middle-class American household makes – how do you stack up?

Here’s how much money the average middle-class American household makes – how do you stack up? If Americans feel the need more than ever to stretch their dollars, it’s not hard to figure out why. The latest inflation data from the Bureau of Labor Statistics showed there was an 8.3% increase in prices year over …

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Stocks lose more ground on fears a recession may be looming

NEW YORK (AP) – Good news on the economy remains bad news for Wall Street, as stocks fell sharply Friday on worries a still-strong US jobs market may actually make a recession more likely. The S&P 500 ended 2.8% lower after briefly dropping 3.3% as traders weighed a government report showing employers hired more workers …

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Saudi Arabian minister of state blames high US gas prices on lack of American refinery production

The Saudi Arabian minister of state fired back against claims the country is responsible for higher US gas pricesasserting lack of American refinery production is to blame. “With due respect, the reason you have high prices in the United States is because you have a refining shortage that has been in existence for more than …

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Housing market: Household formation is the most ‘underreported’ factor

Bill McBride, author of the economics blog Calculated Risksaid there’s a key reason why both rent and home price growth is slowing amid the US housing correction playing out today. In a live Twitter Space hosted by Fortune Magazine on Friday, McBride called it the most “underreported” factor. What is it? Household formation — both …

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US adds China’s YMTC and 30 other firms to ‘unverified’ trade list

WASHINGTON, Oct 7 (Reuters) – The United States on Friday added China’s top memory chipmaker YMTC and 30 other Chinese entities to a list of companies that US officials have been unable to inspect, ratcheting up tensions with Beijing and starting a 60 day-clock that could trigger much tougher penalties. The new listings were the …

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