Unexpected Surge in US Power Demand Draws Comparison to WWII Era
Wood Mackenzie says some regions face up to 15% growth by 2029 Rise in electricity demand will be major challenge for sector Electricity demand in the US is set to soar for the first time in decades, with growth as high as 15% in some regions over the next five years,...
Another China Briefing Leaves Investors Cold
Get caught up. Another day, another disappointment for China bulls. Anticipation built before officials gathered in Beijing to offer details on the government’s plans to draw a line under the property market’s slump, but what they delivered didn’t quite live up to the...
Euro-Zone Inflation Revised Down for September, Backing ECB Cut
Consumer prices rose 1.7%, rather than 1.8%, Eurostat says Readings for core and services gauges were also lowered Euro-area inflation slowed more than initially reported – cementing the case for a second straight interest-rate cut by the European Central Bank....
China’s Wild Stock Market Swings Hurt a $21 Trillion Bull Case
Investors shifted money from trading accounts to savings: ICBC Government briefings have fueled sharp swings in sentiment China’s 200 million-strong army of retail investors was supposed to help the market turn a corner. Instead, it has become a source of weakness....
BYD Is Winning the Global Race to Make Cheaper EVs
The Chinese company is flooding markets with its cars—while the US is doing everything it can to keep the booming brand out. Malta, a tiny archipelago in the Mediterranean Sea, might not seem worth the attention of a disruptive new car brand. The nation of just under...
China’s Economy Likely Grew at Weakest Pace in Six Quarters
Data on Friday set to show GDP grew 4.5% y/y in third quarter Traders are still waiting for more details on fiscal stimulus China’s economy likely grew at its weakest pace in six quarters, prompting Beijing to roll out a swath of stimulus measures in late September to...
Arnault’s $37 Billion Wealth Loss Comes as Luxury Dims in China
China’s consumer slowdown hits high-end conglomerate LVMH Rivals Brunello, Hermes, Kering have yet to report sales Eighteen months ago, LVMH shares were trading at a record high and the group’s controlling shareholder, Bernard Arnault, was the world’s wealthiest...
US Mortgage Rates Climb to 6.52%, Highest Since Early August
US mortgage rates rose sharply for a second straight week, reaching the highest level since early August while prompting steep declines in both home-purchase and refinance activity. The contract rate on a 30-year fixed mortgage rose 16 basis points to 6.52% in the...
Chinese Stocks on Brink of Correction as Investor Patience Wanes
Market volatility has been rising as traders debate next move Property shares jump before housing ministry briefing Thursday Chinese stocks fell to the verge of a correction in a sign of growing disappointment over the pace of stimulus rollout. The CSI 300 Index ended...
New Zealand Inflation Slows to Lowest Rate Since Early 2021
Inflation rate of 2.2% now back inside RBNZ’s 1-3% target band Kiwi dollar falls as traders bet on another big rate cut New Zealand’s annual inflation rate fell sharply in the third quarter, returning to the central bank’s target band for the first time in more than...
Australia’s Largest Pension Says China Boom Times Have Finished
Melbourne-based AustralianSuper manages over A$341 billion CIO Mark Delaney speaks at Bloomberg event in Sydney China’s latest bout of stimulus may help stabilize the country’s property crisis but investors should position for the end of the economy’s boom years, says...
China Leaves Economists Wanting More Action to Defeat Deflation
Finance officials vow to aid housing sector, local governments Much-anticipated briefing lacks immediate steps to lift demand China moved to further ramp up support for the economy, promising more aid for the slumping property sector and indebted local governments....
China Says Major Disagreements Remain With EU Over EV Tariffs
Eight rounds of talks have not yielded any agreement China asks EU to send technical team to nation for fresh talks China urged the European Union not to conduct price negotiations with individual electric vehicle manufacturers, as eight rounds of negotiations in...
Charting the Global Economy: US Inflation Exceeds Forecasts
US inflation last month was a touch stronger than forecast, helping to consolidate market bets that the Federal Reserve will opt for a smaller interest-rate cut in November. In Germany, Europe’s largest economy, orders placed with manufacturers tumbled by the most...