New orders for U.S. manufactured durable goods increased by more than expected in the month of May, according to a report released by the Commerce Department on Monday. The report showed durable goods orders climbed by 0.7 percent in May after rising by 0.4 percent in April. Economists had expected […]

Interest rates are up. Stocks — especially glamour stocks, like Tesla — are down. And the crypto crash has been truly epic. What’s going on? Well, many people I read have been offering an overarching narrative that runs something like this: For the past 10 or maybe even 20 years, […]

A report released by the Labor Department on Wednesday showed U.S. import prices increased by less than expected in the month of May. The Labor Department said import prices climbed by 0.6 percent in May after rising by a revised 0.4 percent in April. Economists had expected import prices to […]

Truth is often a major casualty in the never-ending battle between unions and employers to set wages. From the business side, come cries big pay rises can only ever come at the expense of fewer jobs and higher inflation. ACTU secretary Sally McManus said there were underlying problems with wage […]

Yang Li Hu, a 12-year-old Chinese oil tanker with a bright blue and red hull, was laden with oil as it set sail from the port of Kozmino on Russia’s southeastern tip. The journey, which began on May 17, was headed towards Gwangyang, in South Korea. While Russian export levels […]

The latest World Bank assessment of the state of the global economy and its outlook makes for gloomy, even depressing, reading with its focus on comparisons with the stagflationary era of the 1970s. While it likens the current outbreaks of inflation at levels not seen for decades, slumping growth rates […]

(Adds guidance, share buyback, dividend) Science Applications International Corporation (SAIC) reported a profit for first quarter that decreased from last year but beat the Street estimates. The company’s bottom line totaled $73 million, or $1.29 per share. This compares with $81 million, or $1.38 per share, in last year’s first […]

The Bureau of Labor Statistics released THE EMPLOYMENT SITUATION — MAY 2022. The key statistic was the economy added 390,000 jobs and unemployment was steady at 3.6% compared to the April numbers. The figures were considered modest compared to months since the recovery from the COVID-19 pandemic battered the economy. […]

Homeowners face big increases in their monthly mortgage payments in coming months, on top of a soaring cost of living, which will put many household budgets under severe financial pressure. If official interest rates rise to 2.5 per cent by the middle of next year – which many economists are […]

A report released by the Institute for Supply Management on Wednesday showed U.S. manufacturing activity unexpectedly expanded at a slightly faster rate in the month of May. The ISM said its manufacturing PMI inched up to 56.1 in May from 55.4 in April, with a reading above 50 indicating growth […]