Private job creation slowed more than expected in May, according to a report Wednesday from ADP that signals further sluggishness in the labor market.The payroll processing firm said that companies added 152,000 jobs on the month, fewer than the downwardly revised 188,000 in April and below the Dow Jones consensus...
Category: Economy
Turkey’s inflation passes 75% in what economists believe is peak
City scene Yeni Camii great mosque by Golden Horn of Bosphorus River, Topkapi Palace, Hagia Sophia Istanbul, Republic of Turkey Tim Graham | Getty ImagesInflation in Turkey topped 75% in May, up from 69.8% in April, in what economists expect to be the peak before prices start to ease.Consumer prices rose...
OPEC+ wants concrete rate cuts before factoring impact on oil demand, Saudi energy minister says
Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022.Bloomberg | Bloomberg | Getty ImagesThe prominent OPEC+ oil producers' alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia's energy minister."Central banks, with all respect,...
Global debt has grown to $315 trillion this year — here’s how we got here
The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance.This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic."This increase marks the second consecutive quarterly rise and was primarily driven...
The Fed probably won’t be delivering any interest rate cuts this summer
Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City. Michael M. Santiago | Getty ImagesInvestors likely will have to sweat out a summer during which it looks increasingly improbable that the Federal Reserve will be cutting interest rates.A...