Economy

Rustbelt renaissance: Pittsburgh becomes an FDI standout

Pittsburgh long symbolized America’s rustbelt, that stretch of the industrial midwest and north-east that once boomed with steel, cars and coal. In recent years, however, the city has been trading a rusty reputation for a robotic sheen. Still known as the Steel City despite no working steel mills, Pittsburgh has the muscular look of an …

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Euro Slumps as US Dollar Regains Momentum Ahead of NFP. Is EUR / USD in Peril?

EUR / USD FORECAST: EUR tumbles dragged down by broad-based US dollar strength in the FX market EUR / USD maintains a negative outlook in the near-term The US employment report will be a source of volatility for financial markets on Friday Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling …

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Bank of England official criticizes government’s mini budget action – as sidelined OBR creates more ‘uncertainty’ | Business News

Another Bank of England official has weighed in to criticize the government’s mini-budget announcement – rebuking the absence of Office of Budget Responsibility (OBR) input, detailing how the UK bond market reaction was unique, and reiterating the Bank’s resolve to return inflation to 2 %. Jonathan Haskel, a member of the Bank of England‘s interest …

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My big Brexit breakdown story: If your car conks out in GB, good luck getting it home

It was supposed to be so simple. Just a day trip to Scotland. Take the car on the ferry from Belfast to Cairnryan first thing in the morning, then come back the same way last thing at night. ell, you know what they say about the best laid plans. All went smoothly at first. It …

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Energy crisis: Ursula von der Leyen opens the door for an EU cap on gas prices but with caveats

Ursula von der Leyen has opened the door for a targeted and temporary EU-wide cap to rein in soaring gas prices and curb market speculation. But her message comes with caveats about the potentials risks the cap entails. “While gas prices have come down in the past weeks, they remain very high and are putting …

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Bank of England official criticizes government’s mini budget action – as sidelined OBR creates more ‘uncertainty’ | Business News

Another Bank of England official has weighed in to criticize the government’s mini-budget announcement – rebuking the absence of Office of Budget Responsibility (OBR) input, detailing how the UK bond market reaction was unique, and reiterating the Bank’s resolve to return inflation to 2 %. Jonathan Haskel, a member of the Bank of England‘s interest …

Bank of England official criticizes government’s mini budget action – as sidelined OBR creates more ‘uncertainty’ | Business News Read More »

Energy crisis: How worried should we be about the lights going out? | Business News

The latest information on the risks facing gas and electricity supplies suggests there is an increased risk of blackouts this winter – but they can be prevented. National Grid’s Electricity System Operator’s (ESO) updated report on the pressures facing power generators revealed contingency plans for three-hour blackouts in areas where gas-fueled power falls short of …

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Miami prevails in FT-Nikkei ranking by expanding appeal beyond Latin America

For decades, Miami has been known as the US’s gateway to Latin America. But spending even a few hours in the office of Francis Suarez, the city’s 45-year-old mayor, makes it clear the South Florida metropolis has become a magnet for investors from other corners of the globe as well. Seated in the waiting area …

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Treasuries Liquidity Problem Exposes Fed to ‘Biggest Nightmare’

(Bloomberg) – The latest bout of global financial volatility has heightened concerns about regulators’ continuing failure to resolve liquidity problems with US Treasuries – the debt that serves as a benchmark for the world. Most Read from Bloomberg It’s getting harder and harder to buy and sell Treasuries in large quantities without those trades moving …

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Wall Street closes lower as the Fed pounds rate hike drum

Oil prices add to inflation woes post-OPEC + output cut US weekly jobless claims increase more than expected Indexes fall: Dow down 1.15%, S&P 1.02%, Nasdaq 0.68% Oct 6 (Reuters) – Wall Street’s major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the …

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