U.S. producer prices record biggest drop in 11 months amid unemployment claims increase
Businessam Staff
August 10, 2017
U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase, Reuters reports. Other data Thursday showed an increase in the number of Americans filing for unemployment benefits last week. The trend in weekly […]
US productivity rises 0.9% in Q2 as labour costs softened
Businessam StaffAugust 9, 2017
U.S. worker productivity rose more than expected in the second quarter amid an increase in hours, but the trend remained weak, suggesting that robust economic growth could remain elusive, CNBC reports. The Labor Department said on Wednesday nonfarm productivity, which measures hourly output per worker, increased at a 0.9 percent annualized rate in the April-June […]
Payroll gain of 209,000, wage rise show U.S. labour strength
Businessam StaffAugust 4, 2017
The U.S. labour market hit its stride in July, as employers added workers at a solid clip, the jobless rate matched a 16-year low and monthly wage growth picked up. Job gains were broad-based during July, led by the largest jump in leisure and hospitality employment since September 2015, a move driven by gains at […]
Qatar Airways reverses decision to buy into American Airlines
Businessam StaffAugust 2, 2017
Qatar Airways will not proceed with its proposed financial investment in American Airlines Group Inc, reversing an earlier decision to build a stake of up to 4.75 percent in the U.S. carrier, according to a Reuters report monitored by Businessamlive. “Further review of the proposed financial investment, taking into account the latest public disclosure of […]
Fed holds rates steady, expects to cut balance sheet ‘relatively soon’
Businessam StaffJuly 27, 2017
The Federal Reserve kept interest rates unchanged on Wednesday and said it expected to start winding down its massive holdings of bonds “relatively soon” in a sign of confidence in the U.S. economy. The Fed kept its benchmark lending rate in a target range of 1 per cent to 1.25 per cent, as expected, and […]
USTR Lighthizer: Trump challenging China’s industrial policies – radio interview
Businessam StaffJuly 26, 2017
The top U.S. trade negotiator said late on Tuesday that President Donald Trump is determined to challenge China’s use of unfair subsidies and “non-economic” industrial policy to build up export industries that are costing American jobs. U.S. Trade Representative Robert Lighthizer, in a rare media interview, said that the Trump administration would work to hold […]
US Fed faces prospect of global monetary policy tightening
Businessam StaffJuly 24, 2017
Prospects for tighter monetary policy in Europe and other countries could pose a fresh problem for the Federal Reserve when it meets next week to ponder its plan to reduce its $4.2 trillion bond portfolio purchased after the 2008 financial crisis. The Fed bought U.S. Treasuries and mortgage-backed securities (MBS) for about six years in […]
Trump refugee restrictions allowed for now, but ban on grandparents rejected
Businessam StaffJuly 19, 2017
The U.S. Supreme Court on Wednesday temporarily allowed the Trump administration to enforce restrictions on the nation’s refugee program, but it let stand a court order from Hawaii that grandparents and other relatives who want to travel to the United States to visit family must be admitted while the case proceeds on appeal. The justices, […]
Gap between rich & poor in US among highest of major industrial countries – report
Businessam StaffJuly 19, 2017
Although the US is the richest country in the history of the world, its level of inequality is among the highest of major industrial countries, according to a new Oxfam report which says that tens of millions of working Americans are impoverished. In 2015, 193 United Nations member states promised to reduce inequality as part […]
BlackRock CEO Fink sees U.S. falling short of 3 percent growth
Businessam StaffJuly 17, 2017
BlackRock Inc Chief Executive Larry Fink on Monday said it will be hard for the United States to reach the 3 percent annual growth target set by President Donald Trump. Fink has repeatedly sounded a cautious note on the economy this year even as stock markets have risen, citing uncertainty over the restructuring of U.S. […]