Category: World Economy News

Setting out Brexit vision, May appeals to EU to show flexibility

Prime Minister Theresa May urged the European Union on Friday to show more flexibility in talks on a future relationship, saying Britain was ready to swallow the “hard facts” of Brexit but did not believe they prevented a successful trade deal. In a much-anticipated speech, May mixed a gentler tone, jettisoning an earlier strident tone […]

U.S. Consumer Sentiment Improved in February

A closely watched measure of U.S. consumer confidence rose in February, a sign that many American households are shrugging off renewed volatility in financial markets. The University of Michigan said Friday its consumer-sentiment index was 99.7 in February, up from 95.7 in January. It was the second-highest monthly reading since January 2004, below only October’s […]

Germany Wholesale Sales Fall For First Time In 8 Months

Germany’s wholesale sales declined at the end of the year, after rising in the previous seven months, data from Destatis showed Friday. In real terms, wholesale sales dropped a price-adjusted 1.0 percent year-over-year in December, reversing a 4.1 percent rise in November. On a monthly basis, wholesale sales declined a seasonally and calendar-adjusted 2.0 percent […]

Germany says planned U.S. tariffs would distort world trade

U.S. President Donald Trump’s planned tariffs on steel and aluminum would distort world trade, German Economy Minister Brigitte Zypries said on Friday, adding Europe would respond appropriately if Washington follows through with the plan. The president of Germany’s BDI industry group said separately that the planned tariffs risked global trade wars. “The U.S. policy of […]

ECB sets new rules on bank capital and cash

The European Central Bank published new guidelines on Friday defining how euro zone banks should calculate how much capital and cash they must hold for their own safety. The new guidelines, which will kick in next year, set out “principles” such as the need for banks to run “stress tests” to quantify their robustness in […]

Eurozone Producer Price Inflation Eases In January

Eurozone producer price inflation eased in January on energy prices, data from Eurostat showed Friday. Producer prices advanced 1.5 percent year-on-year, slower than the 2.2 percent increase logged in December. Prices were expected to climb 1.6 percent. The slowdown was largely driven by energy price inflation, which came in at 0.5 percent versus 2.7 percent […]

EU’s Barnier welcomes ‘clarity’ in May Brexit speech

The European Union’s chief Brexit negotiator Michel Barnier welcomed “clarity” from Prime Minister Theresa May on Friday and her recognition that Britain faces “trade-offs” when it leaves the EU single market and customs union. “Clarity about UK leaving Single Market and Customs Union and recognition of trade-offs will inform … guidelines re future FTA,” Barnier […]

China says following U.S. example will harm global trade

Global trade will be harmed if countries follow the example of the United States, China’s foreign ministry said on Friday, after President Donald Trump said he would impose tariffs on imported steel and aluminium to protect U.S. producers. Ministry spokeswoman Hua Chunying made the comment at a regular news briefing, adding that President Xi Jinping’s […]

Powell Bullish on Economy, but Sees No Signs of Overheating

Federal Reserve Chairman Jerome Powell offered an upbeat view of the economy and indicated the central bank expects to continue to gradually raise short-term interest rates this year and beyond. Mr. Powell said the Fed sees the potential for positive and negative economic surprises as roughly balanced. That is a shift after several years when […]