US business spending on equipment strong

New orders for US-made capital goods increased to a record high in September and shipments surged, pointing to strong business spending on equipment, though stretched supply chains likely hampered overall economic growth in the third quarter.
28 October 2021, 18:00 PM

US consumer confidence rebounds

US consumer confidence unexpectedly rose in October as concerns about high inflation were offset by improving labor market prospects, suggesting economic growth was picking up after a turbulent third quarter.
27 October 2021, 18:00 PM

Google-parent Alphabet profit soars to over $18b

Google’s parent company Alphabet announced profits Tuesday that jumped to $18.9 billion, even as the online colossus faces increased regulatory pressure and shifting of the lockdown lifestyles that have so benefited Big Tech.
27 October 2021, 18:00 PM

No end in sight for labour shortages as US firms fight high costs

Labor shortages may be the most intractable of the cost risks that US companies faced in the latest quarter, and as the earnings season moves into its peak there are signs the problem will persist, some strategists say.
26 October 2021, 18:00 PM

As US debt limit looms again, calls intensify for reform

The US government is once again nearing the limit on how much debt it can take on, a familiar deadline that will force the country’s political elite into high-stakes negotiations over averting a default.
26 October 2021, 18:00 PM

‘Facebook Papers’ hit as platform reports billions in profit

Facebook announced over US$9 billion in quarterly profits on Monday, hours after a US news collective published a deluge of withering reports arguing the company prioritises its growth over people’s safety.
26 October 2021, 18:00 PM

Yellen sees US inflation moderating by 2022

Inflation in the United States, pushed upward by pandemic-related supply and labor problems, should return to more moderate levels in the second half of next year, Treasury Secretary Janet Yellen said Sunday.
25 October 2021, 18:00 PM

US Democrats turn to billionaires to fund spending bill

US Democrats are expected to unveil a tax plan on Monday that would seek to raise hundreds of billions of dollars from the country’s roughly 700 billionaires to help pay for expanding the social safety net and tackling climate change.
25 October 2021, 18:00 PM

Desperate for employees, US businesses struggle to hire

To keep the taps at his recently opened beer tasting room flowing, Peter Chekijian had no choice but to ask his main employees to come in seven days per-week.
24 October 2021, 18:00 PM

US budget deficit falls to $2.8t

The US budget deficit narrowed slightly in the past year as the economy recovered from the pandemic, falling $360 billion to $2.8 trillion, the government reported Friday.
23 October 2021, 18:00 PM

Supply bottlenecks, labour shortages slow US growth: Fed

Supply bottlenecks and labor shortages have slowed US economic growth and contributed to a sharp rise in prices, the Federal Reserve said Wednesday.
21 October 2021, 18:00 PM

Tight US job market triggers strikes for more pay

Thousands of workers remain on strike across the United States demanding higher pay and better conditions despite Hollywood make-up artists and camera operators reaching a deal over the weekend to avoid a walkout, and the tight jobs market has only emboldened them.
18 October 2021, 18:00 PM

No fear of inflation ‘runaway train’: IMF chief

Global finance officials are worried about rising inflation pressures but there it is little fear that it will become a  “runaway train,” IMF chief Kristalina Georgieva said Sunday.
18 October 2021, 18:00 PM

US supply chain woes to stretch into 2022: Biden admin

The US transportation secretary on Sunday warned that America’s supply chain woes including clogged ports will drag into next year, potentially cramping the upcoming holiday shopping season in the world’s largest economy.
18 October 2021, 18:00 PM

US steps into China’s bitcoin breach

The long sheds at North America’s largest bitcoin mine look endless in the Texas sun, packed with the type of machines that have helped the United States to become the new global hub for the digital currency.
17 October 2021, 18:00 PM

Wall Street banks set to profit again when Fed withdraws stimulus

Wall Street banks have been among the biggest beneficiaries of the pandemic-era trading boom, fueled by the Federal Reserve’s massive injection of cash into financial markets.
16 October 2021, 18:00 PM

Supply chains, inflation cloud vaccine, debt woes

Supply chain woes and growing inflation concerns pushed aside a widening gap in Covid-19 vaccinations and mounting debt problems for developing countries as the top concerns for global policymakers at International Monetary Fund and World Bank annual meetings this week.
16 October 2021, 18:00 PM

World stocks notch best day in 5 months

Stocks surged globally on Friday in their best day in five months as strong US corporate earnings reports fueled optimism about the economy, though three-year-high oil prices kept inflation risks alive and lifted government bond yields.
16 October 2021, 18:00 PM

WB-IMF panel calls for steps to ensure data integrity

The World Bank-International Monetary Fund Development Committee on Friday urged the bank to take additional steps to 
16 October 2021, 18:00 PM

$590m in ransomware payments reported to US in 2021

New data out Friday showed $590 million in ransomware-related payments were reported to US authorities in the first half of 2021 alone, setting a pace to beat totals for the whole previous decade as cyber-extortion booms.
16 October 2021, 18:00 PM