Economy

Latitude Financial’s debut on the ASX cancelled again

Latitude Financial’s eagerly awaited debut on the ASX has been pulled for the second time in just over a year. It was meant to be the biggest Australian initial public offering (IPO) of the year, but those plans have been shelved by Latitude’s owners — US private equity firm KKR, Deutche Bank and Varde Partners. The KKR consortium decided to ...

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A Pulse on Freight Signals U.S. Economic Contraction by Year-End

One vital sign of the American economy is pointing toward growth turning negative by the end of the year. The Cass Freight Index, a monthly measure of rail, trucking and airfreight volume, dropped 3% in August from a year earlier, the ninth consecutive month of declines. The figures released Friday blamed tariffs for stalling trade. The numbers and the analysis ...

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Why going green is the best way to fire up Australia’s economy

Official figures show the Australian economy, if not grinding to a halt, posting a 1.4 per cent annual rate of GDP growth, the slowest in a decade. This sparked renewed calls for fiscal stimulus from the government. With interest rates already at a record-low 1 per cent, there is only so much more that RBA governor Philip Lowe can do ...

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Federal Reserve to Return to Stimulus Pump: Global Economy Week

The Federal Reserve is poised to cut interest rates again this week and may still not be done delivering monetary stimulus. Having already reduced their benchmark in July to 2.0%-2.25%, Chairman Jerome Powell and colleagues will lop off another 25 basis points on Wednesday to support the slowing economy, according to a Bloomberg survey of economists. Among the key questions ...

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Saudi Oil Attack Is Unlikely to Dent U.S. Economy

The latest drone strikes on Saudi Arabian oil-production facilities likely would have a limited direct effect on the U.S. economy, but could result in higher gas prices, potentially exerting an additional drag on slowing global growth, economists say. While the total impact of the Saturday attacks remains unknown, analysts say the U.S. economy is very different than it was in ...

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We’re relying on a government that spurns economic advice

I’m starting to wonder if the trouble with our politicians is that they’ve evolved to do politics but not economics, making them unfit to cope with the economic threats we now face. On the one hand, they’ve been able to leave the management of the economy to the independent Reserve Bank, whose tinkering with interest rates – up a bit, ...

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Trump downplays talk of a recession after his economic advisers say growing fears are unfounded

President Donald Trump said he is “prepared for everything” but that “most economists” don’t think a recession is on the horizon as growing fears of a slowdown persist. “We are doing tremendously well,” the President told reporters on a tarmac in New Jersey before boarding Air Force One to return to Washington. “Consumers are rich, tax cut loaded up with ...

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‘I don’t see a recession’: Trump and advisers reject talk of economic disaster

Donald Trump and his chief trade advisers insisted on Sunday the US is not facing a recession which markets appear to fear and which could prove costly at the polls next year.In a 30-minute appearance before reporters in New Jersey, the president appeared impervious to danger. The characteristically freewheeling exchange covered his positions on trade, the economy, gun control and ...

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The US economy is fine, but watch out for gathering trade storms

A former colleague of mine at the OECD (a Paris-based public policy research organization financed by member country governments) smiled at me over a five-o’clock beer with a cutting remark that reports of economic analysis were “a dime a dozen.” I felt like wiping the floor with him, but gulping down my drink, I thought again how low a once ...

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The global economy just dodged another bullet. But the US-China trade truce won’t fix it

London (CNN Business)Stocks and oil prices shot higher Monday after the United States and China announced a cease fire in their trade war. Yet the fragile truce does little to alleviate pressure on a global economy wounded by earlier exchanges of fire that hit manufacturing and trade. President Donald Trump agreed at the G20 summit in Japan to hold off on new tariffs, but US ...

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