U.S. Pending Home Sales Spike Much More Than Expected In October

After reporting a notable pullback in U.S. pending home sales in the previous month, the National Association of Realtors released a report on Monday showing pending home sales rebounded by much more than expected in the month of October. NAR said its pending home sales index spiked by 7.5 percent to 125.2 in October after tumbling by 2.4 percent to […]

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Biden is playing Trump’s economic game

Americans are so politically polarised that voters’ stated views on the economy’s health are now shaped overwhelmingly by which party they identify with. Back in the 1980s Ronald Reagan era, or even in the heady pre-crisis boom of 2006 under George W Bush, Republicans were unsurprisingly more upbeat about economic conditions than Democrats. But the gap in judgments by party […]

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A winter energy crisis looms for Europe as Putin tightens his grip

Europe’s energy crunch has returned with a winter vengeance. We are back to warnings of power rationing and industrial stoppage, a looming disaster for the European Commission and the British government alike. Vladimir Putin has tightened his stranglehold on gas, driving up futures contracts for January by 40 per cent in barely a week. Prices are nearing the levels of […]

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When it comes to inflation, Australia hopes to remain an island

The Reserve Bank is counting on Australian exceptionalism or, more bluntly, a healthy dose of isolation. The central bank is going to great pains to distance the economy from the faster inflation that’s led policy makers from Wellington to Oslo to raise interest rates, or intimate that hikes are on the way. Governor Philip Lowe may be the first chief […]

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U.S. Industrial Production Rebounds Much More Than Expected In October

After unexpectedly reporting a steep drop in U.S. industrial production in the previous month, the Federal Reserve released a report on Tuesday showing industrial production rebounded by much more than expected in the month of October. The report showed industrial production surged up by 1.6 percent in October after tumbling by 1.3 percent in September. Economists had expected industrial production […]

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This Is the Most Destructive Wildfire in America This Century

The rise in wildfires across the nation has been staggering over the past few years, and 2021 has been no exception. The Center for Disaster Philanthropy reports that through early this month, 48,725 wildfires had destroyed 6.1 million acres. Almost 750 people had been deployed to handle the largest ones. Ironically, one of the few events to slow the fires […]

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The world is watching as China’s economy heads for historic fall

China’s economy is slowing to the lows seen way back in 1990 – a price President Xi Jinping seems willing to pay to reduce its dependence on the property sector. Beijing’s squeeze on the real estate sector will linger into next year and beyond, a development many hadn’t seen coming that has now prompted banks like Goldman Sachs, Nomura Holdings […]

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Almirall Posts Net Loss For 9-month Period; Backs FY21 View

Almirall, S.A. (ALM), a biopharmaceutical company, on Monday posted a net loss for the nine month period ended in September, particularly hurt by an impairment for the carrying value of the intangible assets. However, amidst higher sales, the company has reiterated its guidance for the current fiscal. The Barcelona-headquartered firm posted a net loss of 39.4 million euros for the […]

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German ZEW Economic Confidence Rises For First Time In 6 Months

German economic confidence improved for the first time in six months as financial market experts were more optimistic about the coming six months, survey results from the ZEW – Leibniz Centre for European Economic Research showed on Tuesday. The ZEW Indicator of Economic Sentiment rose more-than-expected to 31.7 in November from 22.3 in October. This was the first time since […]

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Whether Morrison agrees or not, coal power is now consigned to history

The floodgates have broken. Diehard coal nations across the developing world have been lining up in Glasgow to forswear use of the dirtiest of fossil fuels. Four of the biggest coal emitters in East Asia have signed the pledge, promising to abandon new projects and shut down existing plants far earlier than almost anybody expected. It hardly matters any more […]

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