By CHRISTOPHER RUGABER WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe…
Read MoreNovember trade deficit hits near record-high $80.2 billion – The Denver Post
WASHINGTON — The U.S. trade deficit surged to a near-record high of $80.2 billion in November as exports slowed at the same time that imports jumped sharply. The November deficit was 19.3% higher than the October deficit of $67.2 billion…
Read MoreColorado businesses continue to grapple with pandemic-induced supply-chain woes
Fertilizer. Tractor tires. Bins, boxes and pallets. Those are all items on Michael Hirakata’s shopping list, not for the holidays but for next year. They were all items in short supply or much pricier than usual this year because of…
Read MoreOmicron is an economic threat, but inflation is worse, central bankers say
NEW YORK (NYTIMES) – There is still a lot scientists do not know about omicron. There is cautious optimism – but no certainty – about the effectiveness of vaccines against this fast-spreading variant of the coronavirus, and experts do not…
Read MoreCovid-zero policies and pollution curbs stunt China's oil demand
BEIJING (BLOOMBERG) – China, the world’s biggest buyer of crude, is set to start next year with a subdued appetite for oil. For that, you can blame – or thank – Beijing’s increasingly tough line on the coronavirus, pollution and rule-breakers….
Read MoreMarkets are at risk of a 'spontaneous deflating', warns former US treasury secretary
WASHINGTON (BLOOMBERG) – Former United States treasury secretary Lawrence Summers warned of the risk of a “spontaneous deflating of financial markets” that have been pumped up by retail buying and exuberant investors. There is “a lot of euphoria”, Mr Summers…
Read MoreManchin says he's 'engaged' with Biden on economic plan
VIRGINIA (BLOOMBERG) – Senator Joe Manchin emerged from a phone meeting with United States President Joe Biden still uncommitted to voting for the President’s economic agenda by year’s end. “We’re just talking about different iterations, that’s all,” Mr Manchin said…
Read MoreADB cuts developing Asia outlook on Omicron risks
MANILA (BLOOMBERG) – The Asian Development Bank (ADB) cut economic growth forecasts for developing Asia, as the emergence of the Omicron variant and rising coronavirus infections globally show the pandemic is far from over. The region’s gross domestic product will…
Read MoreOne-year inflation outlook rises to 6% in NY Fed consumer survey
WASHINGTON (BLOOMBERG) – Inflation expectations among United States consumers rose to a new high of 6 per cent for the coming year, according to the latest consumer survey of the Federal Reserve Bank of New York, after prices surged the…
Read MoreThe Achilles' Heel of Biden's climate plan? Coal miners
CHICAGO (NYTIMES) – For years, environmentalists in the United States have sought compromises with labour unions in industries reliant on fossil fuels, aware that one of the biggest obstacles to cutting carbon emissions is opposition from the unions’ members. States…
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