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Stocks Rise as Dollar Eases Ahead of US Inflation Data

LONDON—Global stocks rose on Tuesday, while commodities such as oil and gold edged up on the back of a weaker dollar ahead of U.S. inflation figures that could set the tone for trading in a week filled with central bank meetings. The U.S. Federal Reserve is widely expected to hold rates on Wednesday, with the spotlight squarely on comments from Chair Jerome Powell during his news conference, as well as the central bank's economic projections. Before that, the U.S. Labor Department's Consumer Price Index (CPI) report on Tuesday is expected to show inflation still cooling, but staying well above the Fed's 2 percent annual target,…

One big cost that won’t be counted in mid-year budget update

New spending measures to help struggling households have been shunned in favour of fixing the budget bottom line as Treasurer Jim Chalmers looks to bank soaring government tax collections instead. The mid-year budget update, to be released on Wednesday, is expected to show 92 per cent of revenue upgrades over the forward estimates will go towards paying down debt, rather than towards additional spending. But the government’s decision to fund a 15 per cent wage increase for 250,000 aged care workers at a cost of $11.3bn won’t be included in measures of government spending, meaning the saving of upgraded revenue will ultimately be…

Making oil is more profitable than saving the planet. These numbers tell the…

An oil pump jack stands near a field of wind turbines in Nolan, Texas, on Oct. 4. Oil companies are under pressure to pivot more swiftly toward renewable energy. Here's one reason why that's not happening so quickly: It's still incredibly lucrative to sell oil. Brandon Bell/Getty Images hide caption An oil pump jack stands near a field of wind turbines in Nolan, Texas, on Oct. 4. Oil companies are under pressure to pivot more swiftly toward renewable energy. Here's one reason why that's not happening so quickly: It's still incredibly lucrative to sell oil. Oil companies have long been under pressure to invest more money into…

Chinese property developer Country Garden reportedly set to avert yuan bond…

The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of a local note agreed not to demand repayment this week, according to Bloomberg News . During a meeting at the Shenzhen Stock Exchange last week, most investors agreed to forego a put option expiring Dec. 13 that allows investors to demand repayment before maturity next year, the news outlet reported Tuesday, citing unnamed people with direct knowledge of…

Inflation warning as workers urged to save wage increase before rises crush…

Rising wages have not kept up with the soaring cost of living (Image: GETTY) Wage increases may have eased the financial burden for many Britons but pay rises are not keeping up with rising living costs, an expert has warned. Regular pay excluding bonuses in Great Britain increased 7.3 percent from August to October 2023 compared to the same period a year before. Average regular earnings increased 7.2 percent for the quarter with earnings growth for the public sector at 6.9 percent. All these pay growth figures beat inflation for the period, which was at 4.7 percent for the year to October. But Sarah Coles, head of personal finance…