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Higher for longer: US interest rates poised for increase after strong July retail sales

US interest rates are anticipated to remain elevated for an extended period following the surprising surge in July’s retail sales, which exceeded expectations. The robust 0.7% increase (compared to a forecast of 0.4%) and a revision for June from an initial 0.2% rise to 0.3%, have prompted a couple of US economists to speculate whether

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US bank shares decline as Fitch hints at possible credit downgrades

Shares in US banks experienced a drop on Tuesday following indications that the Fitch ratings group might follow rival agency Moody’s in downgrading the credit ratings of several American banks, including industry leader JP Morgan. The news emerged from an interview with a Fitch bank analyst on CNBC, discussing a report released by the ratings

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Shareholders to receive lower dividends as Fletcher Building reports earnings decline

Shareholders in Fletcher Building (ASX:FBU) are set to receive reduced final and full-year dividends following a significant drop in earnings for the year ending on June 30. The decrease in earnings was anticipated due to write-downs on two troubled projects and a slight decrease in revenue, totaling $NZ8.469 billion (compared to $8.498 billion in 2021-22).

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Wage growth slows

No wage price-spiral for economists, the Reserve Bank, and business media to obsess over after the Wage Price Index for the June quarter of 2022-23 eased from the level in the three months to March. According to business groups and their media associates, the Reserve Bank’s Governor, Philip Lowe, and others, wages were supposed to

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China’s economy faces challenges: Weak data prompts central bank action

The weak final data dump for July from China’s National Bureau of Statistics easily explains why the country’s central bank popped up with a surprise rate cut, the second in three months on Tuesday. In short, the figures for retail sales, investment, and production confirm the economy has drifted towards a black hole that was

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