Page 22 - Us Economy

Apple, Alphabet and Amazon profits down as economic slump crimps demand

Apple's sales fell more than analysts predicted during the holiday quarter, slammed by slack purchases of iPhones and Macs

US dollar climbs in early trade as central banks see inflation risks unwind

The pound slid 0.15% to a more than two-week low of $1.2206 in early Asia trade, after falling 1.2% in the previous session, its largest daily decline in a month

US economy shows signs of slowdown after growing 2.9% last quarter

Personal consumption, the biggest part of the economy, climbed at a below-forecast 2.1% pace

Dollar near eight-month low ahead of central bank meetings next week

The Fed's policy-setting committee will begin a two-day meeting next week, and markets have priced in a 25-basis-point interest rate hike

Rupee gains 20 paise to 81.50 against US currency in morning trade

The rupee rose by 20 paise to 81.50 against the US currency in morning trade on Wednesday following a weak dollar in the global markets. Early losses in domestic stock markets and a rebound in oil prices, however, restricted the rupee's gains. At the interbank foreign exchange, the rupee opened higher at 81.62 and rose further to a high of 81.49 in morning trade. The rupee was trading at 81.50 to a dollar at 0950 hrs. The local currency had closed lower at 81.70 on Tuesday. The US dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.04 per cent to 101.88. The Brent crude was trading 0.43 per cent lower at USD 86.48 per barrel while the oil for the Indian basket traded down 2.69 per cent at USD 79.98 per barrel. On the domestic equity market front, the 30-share BSE Sensex declined by 268 points or 0.44 per cent to 60,709.93. The broader NSE Nifty declined by 90.25 points or 0.5 per cent to 18,028.05. Foreign Institutional Investors (FI

US Treasury Secy dismisses idea of minting $1 tn to prevent debt default

Yellen dismissed the idea as a "gimmick" which the Federal Reserve was unlikely to follow through

Oil prices climb on hopes for Federal Reserve slowing interest rate hikes

Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand

Countdown to possible US govt default in offing, parties fight over debt

Markets so far remain calm, as the government can temporarily rely on accounting tweaks to stay open, meaning that any threats to the economy are several months away

US, China vow to prevent competition from becoming 'conflict': Janet Yellen

The Chinese economy is reopening after a Covid-19 resurgence killed tens of thousands of people and shuttered countless businesses

American media giants NBC News, MSNBC lay off employees in 'double digits'

According to CNN, the laid off number was around 75 and the staff cuts affected across the divisions

US consumer prices dropped 0.1% in Dec 2022 but remain at record high

The US Consumer Price Index fell a very modest 0.1 percent in December, according to Labor Department data released Thursday

US Inflation report for Dec could show another month of cooling prices

The US inflation report for December being released Thursday morning could provide another welcome sign that the worst bout of spiking prices in four decades is slowly weakening. Or it could suggest that inflation remains persistent enough to require tougher action by the Federal Reserve. Most economists foresee the more optimistic scenario: They think December marked another month in which inflation, though still uncomfortably high, continued to cool. According to a survey by the data provider FactSet, analysts have predicted that consumer prices rose 6.5 per cent in December compared with a year earlier. That would be down from 7.1 per cent in November and well below a 40-year high of 9.1 per cent in June. On a month-to-month basis, the economists think prices were flat in December. Even more significant, a closely watched gauge of core prices which excludes volatile energy and food costs is expected to have risen just 0.3 per cent from November to December and 5.7 per cent fro

The US Dollar tentative as investors assess rate-hike path, says data

The U.S. dollar was steady on Monday as investors digested a clutch of economic data released last week that stoked hopes of the Federal Reserve slowing the pace of its interest rate hikes

US immigrants generate 36% of nation's innovation, finds NBER study

About 36% of the innovative output of the past three decades can be attributed to immigrants - who make up 16% of the country's inventors, the paper concludes

US extends interview waiver for certain non-immigrant visa categories

It said the Department of State recognises the positive impact of travel to the United States by foreign students and temporary work visa holders on the US economy

US steelmakers flag recession concerns, energy costs could impact demand

Benchmark steel prices are down more than 50% this year as surging inflation has crimped appetite for longer-term projects

No shine in Surat diamond industry this Christmas, thanks to bad US economy

Festive orders, sales in December down by 15-20% over last year

US core inflation slows, giving Fed Reserve some breathing room on rates

The overall CPI increased 0.1 per cent from the prior month and was up 7.1 per cent from a year earlier, as lower energy prices helped offset rising food costs

Too good to be bad, too risky to be good: Economy has Fed in a fix

Financial markets and professional forecasters seem braced for the latter

Rupee sheds 26 paise to dollar as firm US data leads to Fed hike jitters

The domestic unit settled at 82.54 to the dollar on Monday, from 82.28 at previous close. So far in 2022, the Indian currency has shed 9.9% against the greenback