Tag: USA

Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.

Global diesel prices and refining margins spiked following the latest round of U.S. sanctions on Russia’s oil trade on expectations the measures would tighten supplies, according to analysts and LSEG data.

China will launch an investigation into U.S. government subsidies to its semiconductor sector over alleged harm caused to Chinese mature node chipmakers, the commerce ministry said on Thursday.

Economic activity increased ”slightly to moderately” across to US in late November and December, supported by strong holiday sales, the Federal Reserve said in its Beige Book survey of regional business contacts.

Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation.

A measure of wholesale prices increased less than expected in December, providing indication that pipeline inflation pressures eased to close the year though likely not enough to provoke another Federal Reserve interest rate cut anytime soon.

The U.S. has finalized a ban on the use of Chinese and Russian hardware and software in internet-connected vehicles on U.S. roads, an outgoing salvo by the Biden administration to prevent hacking and misuse of data by foreign adversaries.

U.S. small-business confidence surged to the highest level in just over six years in December, extending post election gains.

Job growth was much stronger than expected in December, possibly providing the Federal Reserve less incentive to cut interest rates this year.

U.S. stock markets will remain closed on Jan. 9 in honor of former President Jimmy Carter, continuing a long-held Wall Street tradition in mourning the nation’s leaders.

The White House is finalizing additional restrictions on the export of artificial intelligence microchips that would hit companies including Nvidia and Advanced Micro Devices, according to a report.

The number of Americans filing for first-time unemployment benefits unexpectedly edged down last week, touching the lowest level since February, in a sign of strength in the labor market.

European wind power stocks fell on Wednesday after U.S. President-elect Donald Trump said he would try to ensure that “no windmills” are built on his watch, criticising the sector less than two weeks before he is due to take office.

Private sector job creation eased more than expected in December while wages grew at the slowest pace in nearly three-and-a-half years, payment processing firm ADP reported Wednesday.

The European Union will not tolerate attacks within its borders, France’s Foreign Minister said on Wednesday in the wake of President-elect Donald Trump’s reiterations that bringing Greenland under U.S. control is a “necessity.”

U.S. President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.

Inflation should continue falling in 2025 and allow the U.S. Federal Reserve to further reduce interest rates, though at an uncertain pace, Federal Reserve governor Christopher Waller said on Wednesday.

President-elect Donald Trump’s aides are exploring tariff plans that would be applied to every country but only cover critical imports, three people familiar with the matter said — a key shift from his plans during the 2024 presidential campaign.

U.S. President Joe Biden will ban new offshore oil and gas development along most U.S. coastlines, a decision that President-elect Donald Trump, who has vowed to boost domestic energy production, may find difficult to reverse.

Italian Prime Minister Giorgia Meloni made a surprise visit to Mar-a-Lago on Sunday, meeting incoming President Donald Trump for the second time since he won the U.S. election in November.