G-7 and European Union impose $60-per-barrel price cap on Russian oil

G-7 and European Union impose -per-barrel price cap on Russian oil

The Group of Seven nations and Australia agreed Friday to adopt a $60-per-barrel price cap on Russian oil, acting shortly after the European Union reached unanimous agreement on the same price earlier in the day. After a last-minute flurry of negotiations, the EU presidency, held by the Czech Republic, tweeted that “ambassadors have just reached … Read more

Stocks close mixed after strong hiring report fuels inflation worries

Stocks close mixed after strong hiring report fuels inflation worries

Markets were mixed on Friday after a surprisingly strong jobs report renewed worries about inflation and more rate hikes from the Federal Reserve. The S&P 500 ended down 0.1% and the Nasdaq lost 0.2% after being down even earlier in the day. The Dow ended slightly higher, closing up by 0.1%, at 34,429. Stocks had … Read more

US Labor Market Continues To Defy Skeptics

US Labor Market Continues To Defy Skeptics

WASHINGTON (AP) — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate remained at 3.7%, still near a 53-year low, the Labor Department said … Read more

US hiring stayed strong in November as employers added 263,000

US hiring stayed strong in November as employers added 263,000

WASHINGTON The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate remained at 3.7%, still near a 53-year low, the Labor Department said Friday. November’s … Read more

How the Federal Reserve could react to the November jobs report

How the Federal Reserve could react to the November jobs report

How the Federal Reserve could react to the November jobs report – CBS News Watch CBS News The Federal Reserve is expected to keep an eye on the November jobs report as it considers its next interest rate hike. Kristin Myers, editor-in-chief of The Balance, joins CBS News’ Errol Barnett and Elaine Quijano to discuss … Read more

Letters to Editor – The Hindu BusinessLine

Letters to Editor – The Hindu BusinessLine

China lockdown The public protest against lockdown in China is understandable. People across the world (including China) do not want any more lockdowns as they affect their freedom and livelihood. As the saying goes, “Necessity knows no law”. The father of modern macroeconomics, John Maynard Keynes, stressed the importance of an increase in aggregate demand … Read more

Meet the company that’s been driving industrial efficiency for almost a century

Meet the company that’s been driving industrial efficiency for almost a century

Meet the company that’s been driving industrial efficiency for nearly a century – CBS News Watch CBS News With digitalization at the core of RS Group’s mission to deliver for people, the planet and profit, they are looking forward, not back. Be the first to know Get browser notifications for breaking news, live events, and … Read more

Bold hints to slower interest rate hikes

Bold hints to slower interest rate hikes

Fed hints at slower interest rate hikes – CBS News Watch CBS News Federal Reserve Chair Jerome Powell said Wednesday that the Fed could slow interest rate hikes as soon as December. Larry Adam, chief investment officer at Raymond James, joined CBS News to discuss Powell’s comments and what it could mean for the economic … Read more