Economics

Sky Television, a New Zealand pay TV group, has announced that it recently received a takeover offer; however, the company did not disclose the bidder's identity or the offer's price.

Inflation concerns continue to grip the U.S. economy as the latest data reveals that wholesale prices surged more than anticipated in September. The producer price index (PPI), a key metric that measures the costs for finished goods that producers pay, increased by 0.5% during the month, surpassing the Dow Jones estimate, which had predicted a 0.3% rise. This rise comes on the heels of a 0.7% increase observed in August, reflecting ongoing inflationary pressures.

Small-cap stocks extended their winning streak for the fifth consecutive day on Tuesday, with the Russell 2000 index surging 1.14%, outpacing the S&P 500, which gained just 0.52%.

According to the latest World Economic Outlook (WEO) from the International Monetary Fund (IMF), China and the EU are identified as the weak points in the global economy for 2024, with the US playing a stabilising role.

Iron ore and coking coal futures slid to six-week lows in Asia on Tuesday as China returned to business after the eight-day holiday last week, and traders concluded that not much had changed.

Fairmont Equities Managing Director Michael Gable provides an update on the share market.

Of course, OPEC would be bullish on the outlook for oil (and, to a lesser extent, gas) – they have no other way of surviving. If they weren't bullish about future demand, that would be big news.

The Bank of England appears to have successfully averted a potential mini banking crisis by arranging a bailout for Metro Bank in Britain.

After Friday's surprisingly strong jobs data for September, another test for US market sentiment and momentum awaits this week with the release of September's consumer and producer price inflation data.

The perverseness of investors was once again underscored on Friday by their positive reaction to the much stronger US jobs report for September, a rise in bond yields, and an apparent acceptance that the Fed's much-feared "higher for longer" monetary policy setting could persist for an extended period.

America's third-quarter earnings season kicks off this week, and by week's end, there should be more than a hint of what to expect in six weeks when reporting wraps up.

The health of the Chinese economy is back in the spotlight this week as the country emerges from its week-long holiday break.

Global oil prices are expected to rise on Monday morning following a shocking attack by the Hamas terrorist group in southern Israel.

So how is Australia placed as lithium prices show no sign of halting their 2023 slide?

Everyone thinks that copper will boom in years to come – and yet its price has spent most of 2023 slowing sagging.

The Financial Times reported Thursday that Metro bank needs at least 600 million pounds in new capital to survive.

In a filing with the US Securities and Exchange Commission ahead of its third-quarter report later this month, Exxon Mobil has signaled that oil companies, large and small around the world, will report significant profit gains due to a 30% jump in prices in the September quarter.

Despite a slight dip in the value of the US dollar, an OPEC vote to maintain its production cap, and an unusually bullish increase in US commercial oil stocks, global oil prices slumped sharply on Wednesday, hitting their lowest levels in a month.

It's not an overstatement to say that the fate of US financial markets, especially bonds and equities, lies squarely in the hands of credit rating group Moody's, which remains the only one of the big three rating groups with a AAA rating for America's credit standing.

Amid the turmoil on Wednesday, with a weakening Aussie dollar, a strong greenback, and weak gold, the Reserve Bank of NZ's decision to keep its official cash rate at 5.50% passed almost unnoticed.

US electric vehicle sales are poised to hit a record-breaking 1.4 million units or more by December, following a remarkable surge in the first three quarters of 2023.

Short sellers who had bet against megacap technology stocks emerged as winners in September as a selloff in the sector unfolded.

Steady as Michelle Bullock took the reins as the new Governor at the Reserve Bank, judging by the statement from her first central bank monetary policy meeting on Tuesday.

Tesla is poised for another record-breaking sales performance in 2023, despite a noticeable slowdown in deliveries during the three months ending on September 30.

According to the June quarter's national accounts, Australia is in the midst of a per capita growth recession, with falls of 0.3% in each of the March and June quarters.

Soft retail sales figures for August, along with a further decline in job vacancies in the three months leading up to the end of August, mean that the Reserve Bank will not raise interest rates at its October meeting.