Consumer confidence in the eurozone took a hit in March, falling to the lowest level since May 2020. This marks the first datapoint about the eurozone economy since the war in Ukraine started and energy prices surged further. The drop from -8.8 to -18.7 takes consumer confidence down to levels...
https://www.hellenicshippingnews.com/eurozone-consumer-confidence-plummets-in-march/
China hopes the United States will scrap all tariffs on its goods as soon as possible after the U.S. reinstated 352 product exclusions from China tariffs, the commerce ministry said on Thursday. Commenting on the U.S. move, commerce ministry spokeswoman Shu Jueting told a regular news conference on...
Russia’s invasion of Ukraine, the sanctions response, and the gyrations in commodity markets cast an even thicker layer of uncertainty on what already was an uncertain economic and financial market outlook before the onset of this horrific war. In our March 2022 Cyclical Outlook, “Anti-Goldilocks,”...
https://www.hellenicshippingnews.com/pimco-anti-goldilocks-key-takeaways-from-the-cyclical-outlook/
Swings in asset prices following Russia’s invasion of Ukraine could hit first-quarter profits at big U.S. banks depending on what happens before the end of the month and how markets react, analysts said. Trading losses, provisions for expected loan losses, writedowns of assets and charges for...
https://www.hellenicshippingnews.com/u-s-bank-profits-could-be-hit-by-russia-linked-asset-swings/
The White House will announce on Wednesday a funding opportunity of $2.9 billion earmarked by the Transportation Department for major infrastructure projects this year, as part of a $1-trillion law Congress approved in 2021. U.S. Transportation Secretary Pete Buttigieg and White House Infrastructure Coordinator Mitch Landrieu will unveil the plans at an event held at …
The post U.S. to offer funds of $2.9 billion for major infrastructure projects first appeared on Hellenic Shipping News Worldwide
Russian President Vladimir Putin plans to attend the next G20 summit in Indonesia later this year and received valuable backing from Beijing on Wednesday in a pushback to suggestions by some members that Russia could be barred from the group. The United States and its Western allies are assessing...
https://www.hellenicshippingnews.com/russias-putin-gets-chinese-backing-to-stay-in-g20/
Britain’s economy is forecast to grow 3.8% in 2022, finance minister Rishi Sunak said on Wednesday, citing the latest reduced projections from the Office for Budget Responsibility (OBR). The new forecast for growth this year was weaker than the previous one published in October, when the OBR had...
https://www.hellenicshippingnews.com/uk-economy-forecast-to-grow-3-8-gdp-in-2022/
President Joe Biden departs for Brussels on Wednesday for talks with European leaders about Russia’s invasion of Ukraine, carrying with him plans for more sanctions on Moscow that sources said include members of the Russian parliament. Biden leaves the White House at 8:40 a.m. EDT on a trip that...
https://www.hellenicshippingnews.com/biden-heads-to-europe-with-more-sanctions-for-russia/
Authorities in the Chinese city of Shanghai have denied rumours of a city-wide lockdown after a sixth straight increase in daily asymptomatic coronavirus cases pushed its count to record levels despite a campaign of mass testing aimed at stifling the spread. The latest outbreak in China’s wealthy...
Consumer confidence in the eurozone has taken a hit in March, falling to the lowest level since May 2020, as concerns over the war in Ukraine and the increasing cost of living affected sentiment. The European Commission said Wednesday that its measure of consumer confidence in the region fell to...