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Economy
Bank of Japan Keeps Interest Rates Steady
September 20, 2024 06:25 PM AEST| By Team Kalkine MediaOfficials at the Bank of Japan (BoJ) announced on Friday that they would keep interest rates unchanged, reflecting an upgraded outlook on consumption and a heightened confidence in the economic recovery.,In a unanimous decision, policymakers opted to...
Will the Pound Rise as the Bank of England Holds Rates and Hints at Cuts?
September 20, 2024 04:15 AM AEST| By Team Kalkine MediaThe Bank of England's monetary policy committee decided to keep the interest rate unchanged at 5.0% during its September meeting, indicating that any future rate cuts are likely to be gradual.,The financial markets are anticipating two additional rat...
US Housing Starts Soar to New Heights in August
September 19, 2024 01:05 AM AEST| By Team Kalkine MediaIn August, US housing starts surged by 9.6% compared to the previous month, reaching an annualized rate of 1.35 million units, according to the Census Bureau. This increase notably exceeded market expectations, which had forecasted a rate of 1.31 mil...
Watchdog Says Stronger Access-to-Cash Rules Are Benefiting Local Communities
September 18, 2024 10:12 PM AEST| By Team Kalkine MediaNew regulations introduced by the Financial Conduct Authority (FCA) to safeguard access to cash services across the UK are already making a noticeable difference, according to the regulatory body. These rules, initially announced in July and now comi...
European Central Bank Cuts Interest Rates for Second Consecutive Month
September 12, 2024 09:23 PM AEST| By Team Kalkine MediaThe European Central Bank (ECB) has reduced its interest rate by 25 basis points for the second consecutive month, lowering the base rate to 3.5%, the lowest level since April 2023. This adjustment comes in response to a consistent decrease in inflat...
UK grocery inflation dips to 1.7% as per Kantar
September 10, 2024 08:00 PM AEST| By Team Kalkine MediaUK grocery inflation eased to 1.7% for the four weeks ending on September 1, a slight decrease from the 1.8% recorded in the previous period, according to data from Kantar. Despite this modest reduction, nearly 60% of households continue to express c...
China's Trade Surplus Grows with Surge in Exports and Slower Imports
September 10, 2024 07:46 PM AEST| By Team Kalkine MediaChina's trade surplus rose last month as exports surged to their highest in almost two years, while imports barely changed, raising concerns over ongoing weak domestic demand.,The trade balance was registered at 649.34bn yuan ($91.02bn) in August, up...
UK pay growth slows as unemployment rate hits six-month low
September 10, 2024 07:38 PM AEST| By Team Kalkine MediaOn Tuesday, the Office for National Statistics reported that pay growth in the UK slowed in the three months leading up to July, while the unemployment rate reached a six-month low.,The unemployment rate decreased to 4.1% from 4.2% in the previous qu...
German inflation dips below 2% for the first time since 2021
September 10, 2024 07:29 PM AEST| By Team Kalkine MediaGerman inflation was confirmed at 1.9% for August, marking its lowest level in three and a half years, according to final estimates released by Destatis on Tuesday. This rate reflects a decrease from 2.3% in July and aligns with the preliminary estim...
HMRC Reports Surge in Tax Evasion Among Small Businesses
September 10, 2024 04:50 AM AEST| By Team Kalkine MediaThe UK public purse is missing out on approximately £5.5 billion in potential revenue due to tax evasion, as highlighted in a recent report by the National Audit Office (NAO). The bulk of this loss for the 2022-23 tax year is linked to small business...
Rate Cut Expectations Lift UK Business Confidence
September 09, 2024 10:17 PM AEST| By Team Kalkine MediaAccording to a report released by BDO on Monday, UK businesses are experiencing a period of sustained growth, primarily driven by a strong performance in the services sector, despite ongoing challenges in the labour market.,The Business Trends report...
Eurozone Investor Confidence Weakens Again on German Woes, As Per Sentix
September 09, 2024 10:00 PM AEST| By Team Kalkine MediaEurozone investor sentiment has declined once more this month, reflecting growing concerns about the German economy and political climate, according to a survey released on Monday.,The Sentix investor confidence index for the Eurozone dropped to -15....
Aldi Announces Major UK Investment Amid Rising Sales and Profits
September 09, 2024 09:36 PM AEST| By Team Kalkine MediaAldi has announced a record £800 million commitment to accelerate its expansion in Britain, marking a significant milestone following its strongest-ever sales performance. This substantial investment will fund the opening of 23 new stores within the...
China Consumer Prices Underwhelm, While Producer Prices Decline
September 09, 2024 09:17 PM AEST| By Team Kalkine MediaChina's consumer inflation saw a slight increase in August, with the consumer price index (CPI) rising by 0.6% compared to the same period last year, edging up from July's 0.5% growth. This modest rise was primarily attributed to a sharp increase in...
C&C Group Anticipates H1 Earnings in Line, Net Revenue Drops 3%
September 09, 2024 07:56 PM AEST| By Team Kalkine MediaC&C Group, the company behind Magners cider, reported that first-half earnings were in line with projections, despite a 3% decline in net revenues. For the six months ending August 31, underlying operating profit is expected to be between €39m and €4...
Eurozone GDP Growth Slashed: What It Means for the Economy
September 06, 2024 10:44 PM AEST| By Team Kalkine MediaOn Friday, official data revealed that the Eurozone economy expanded only marginally in the second quarter, with growth struggling to gain traction. According to Eurostat, the European Union’s statistical office, seasonally-adjusted GDP increased by...
Caring Nears £1B Deal to Sell The Ivy Collection
September 06, 2024 10:42 PM AEST| By Team Kalkine MediaRichard Caring, the billionaire businessman renowned for his ownership of upscale London restaurants, was reportedly on the verge of finalizing a deal to transfer a controlling interest in The Ivy Collection. According to Sky News, the transaction, v...
BoA’s Hartnett Advises Caution if US August Payrolls Are Below 100,000
September 06, 2024 09:30 PM AEST| By Team Kalkine MediaMichael Hartnett, a leading strategist at Bank of America, has indicated that a severe economic downturn in the US remains a likely scenario. In a research note circulated to clients, Hartnett reaffirmed his position that the market has not fully pri...
House Prices Reach Two-Year High, Says Halifax
September 06, 2024 09:03 PM AEST| By Team Kalkine MediaIn August, UK house prices reached a two-year peak, buoyed by improved market confidence and easing interest rates, according to figures released by Halifax on Friday. This uptick in prices marks a significant moment in the housing sector as the mark...
German Industrial Production Drops More Than Expected in July
September 06, 2024 08:04 PM AEST| By Team Kalkine MediaGerman industrial production experienced a much steeper decline than anticipated in July, according to data released on Friday by Destatis. Production fell by 2.4% from the previous month, a sharp contrast to the 1.7% increase reported in June, and s...
AI on the Rise: A Look at Top AI Companies and Their Stocks