The Wayback Machine - http://web.archive.org/web/20241130082247/https://finance.yahoo.com/topic/economic-news/

Economic News and Analysis

The latest news and analysis about the health of the US economy.

(Bloomberg) -- Oil drifted lower in thin post-holiday trading on uncertainty about OPEC+’s production plans and the durability of a truce between Israel and Lebanon-based Hezbollah.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasBrent shed 1.3% to settle below $72 a barrel. A cease-fire deal that halted more than a year of fighting between Israel and

Oil Drifts Lower in Thin Trading on Cease-Fire, OPEC+ Delay

(Bloomberg) -- Oil drifted lower in thin post-holiday trading on uncertainty about OPEC+’s production plans and the durability of a truce between Israel and Lebanon-based Hezbollah.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasBrent shed 1.3% to settle below $72 a barrel. A cease-fire deal that halted more than a year of fighting between Israel and
Bloomberg 12 hours ago
CM
Colombia 12-month inflation through November seen at 5.13%: Reuters poll

Colombia 12-month inflation through November seen at 5.13%: Reuters poll

Colombian inflation in November is forecast to have hit 0.20% versus the same month a year ago, mostly due to changing food prices, according to a Reuters poll published on Friday, which also saw year-end expectations decline. If the median estimate is met, consumer price increases in November would come in below the 0.47% acceleration seen in the same month of 2023. "We expect a rebound in food inflation, after the deflation that the sector showed in previous months," Colombian bank Bancolombia said in a note.
Reuters 16 hours ago
‘Dr Doom’ Nouriel Roubini believes a second Trump term could push inflation as high as 5%

‘Dr Doom’ Nouriel Roubini believes a second Trump term could push inflation as high as 5%

"If you look at this list of policies and others, all of them have the impact that over time inflation will be higher, growth is going to be lower," Roubini—aka 'Dr Doom'—said this week.
Fortune 20 hours ago
Oil faces uphill fight as demand woes, oversupply challenge OPEC efforts: Reuters poll

Oil faces uphill fight as demand woes, oversupply challenge OPEC efforts: Reuters poll

Oil prices could stall in 2025 as economic weakness in China clouds the demand picture and ample global supplies outweigh support from an expected delay to a planned OPEC+ output hike, a Reuters monthly poll showed on Friday. Sentiment among oil traders "has turned very negative due to concerns about the global economy, especially about China's economy and demand growth, and concerns about OPEC+ being able to align supply with demand," said Stratas Advisors President John Paisie. Earlier this month OPEC lowered its forecast for global oil demand growth this year and next, highlighting weakness in China, India and other regions.
Reuters 21 hours ago
Turkey Economy Slides Into Recession Ahead of Rates Decision

Turkey Economy Slides Into Recession Ahead of Rates Decision

(Bloomberg) -- Turkey entered a technical recession in the third quarter as industrial production plunged, providing more evidence to the central bank as it ponders whether to start cutting interest rates next month.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasThe $1.3 trillion economy shrank by 0.2% quarter-on-quarter, the second consecutive decl
Bloomberg 22 hours ago
Indonesian Stocks Enter Correction on Slowing Economic Growth

Indonesian Stocks Enter Correction on Slowing Economic Growth

(Bloomberg) -- Indonesia’s benchmark stock index fell 10% from its year’s high, entering a technical correction brought on by slowing economic growth and regional uncertainties after Donald Trump’s win in the US election. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasThe Jakarta Composite Index closed 1.2% to its lowest since Aug. 5, with PT Bank M
Bloomberg 22 hours ago
French Inflation Up Less Than Expected on Weaker Economy

French Inflation Up Less Than Expected on Weaker Economy

(Bloomberg) -- French inflation quickened less than expected as confidence wanes, remaining well below the European Central Bank’s 2% target and supporting the case for interest rates to be lowered further.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasConsumer prices in the euro zone’s second-largest economy rose 1.7% from a year ago in November, s
Bloomberg 23 hours ago
Inflation worries drive bargain hunt among Black Friday shoppers

Inflation worries drive bargain hunt among Black Friday shoppers

Brushing snowflakes off her hair, Teagan Hickson walked into a Walmart Supercenter in Fort Wayne, Indiana, with hopes of picking up a few holiday deals on Black Friday. "I'm trying to not spend too much," said Hickson, 43. As retailers reopened U.S. stores after the American Thanksgiving holiday, some locations drew clusters of shoppers.
Reuters yesterday
Oil settles down as ease of supply risks drives weekly loss

Oil settles down as ease of supply risks drives weekly loss

NEW YORK (Reuters) -Oil prices edged lower on Friday and posted a weekly decline of more than 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC+ is expected to extend output cuts. Brent crude fell 34 cents, or 0.46%, to settle at $72.94 a barrel.
Reuters yesterday
Ottawa must ensure Trump understands importance of Canadian oil to US, minister says

Ottawa must ensure Trump understands importance of Canadian oil to US, minister says

(Reuters) -Ottawa must make sure the Trump administration understands how inter-related energy markets are in the U.S. and Canada, a Canadian government minister said on Thursday, commenting on President-elect Donald Trump's vow to impose a 25% tariff on imports from the country. "We have some work to do to make sure we are effectively articulating the way in which tariffs would be counterproductive, and that's not just true of oil," Natural Resources Minister Jonathan Wilkinson told Reuters in a phone interview, adding that Americans also benefited from Canadian uranium and hydro exports. Trump, who takes office on Jan. 20, said on Monday he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs and migrants crossing the border.
Reuters yesterday
Oil field owner sues California over law that would end its Los Angeles-area operations

Oil field owner sues California over law that would end its Los Angeles-area operations

The owner of an oil field in Los Angeles County is suing the state of California over a law that will require it to stop production and plug its wells or face costly fines. Inglewood Oil Field owner Sentinel Peak argues in the lawsuit, filed this week, that the law, which was signed in September by Gov. Gavin Newsom, is unconstitutional, the Los Angeles Times reported Thursday. It is was one of several laws aiming to reduce pollution by giving local governments more authority to restrict oil and gas operations by shutting down so-called idle wells, which are not in use but have not been properly sealed and closed, and fining companies for operating low-producing oil wells in the Inglewood field.
Associated Press Finance yesterday