Coverage: Oil prices fall most since 2015 on oversupply fears
The oil market is undergoing a stunning reversal as crude futures fell their most since 2015, wiping out this year’s gains after hitting their highest levels since 2014 just six weeks ago. Tom DiChristopher of CNBC.com had the news: The slump reflects a fundamental change in the outlook for the oil prices. A month ago, traders […]
Coverage: Wage growth rises at fastest rate in a decade
U.S. workers are seeing the largest nominal wage increase in a decade, the Labor Department reported Wednesday, as companies compete harder for employees than they did in recent years. Heather Long of The Washington Post had the news: Wages rose 2.9 percent from September 2017 to September 2018, according to the Labor Department’s Employment Cost Index […]
Coverage: Consumer spending rises in September
U.S. consumer spending rose in September by a solid, inflation-adjusted 0.3 percent, led by increased spending on health care services and motor vehicles. Josh Boak of the Associated Press had the news: Consumer spending accounts for the majority of U.S. economic activity, and it was the key driver of overall growth during the July-September quarter. The […]
MNI hires da Costa to cover the Fed, economy
Pedro da Costa, who has covered the Federal Reserve for three news organizations, has been hired by Market News International to cover the Fed. He started on Monday in MNI’s Washington office. “All of us were very impressed with Pedro and what he has accomplished so far in his career,” said MNI CEO Terry Alexander. […]
WSJ seeks Germany economics reporter
The Wall Street Journal’s Germany bureau is looking for a Germany economics reporter to join its Berlin team. The position would entail coverage of the German economy and economic policy, from taxation to banking regulation and fiscal policy, and of higher-altitude European economic issues, from the impact of phasing out QE to economic divergence in […]
Coverage: Hurricane Florence, higher mortgage rates hurt homebuilding
U.S. homebuilding dropped more than expected in September as construction activity in the South fell by the most in nearly three years, likely held down by Hurricane Florence. Lucia Mutikani of Reuters had the news: Other details of the report published by the Commerce Department on Wednesday were also soft. Building permits declined to their lowest […]
Coverage: Job growth slows, but unemployment rate drops to 3.7%
U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 percent, pointing to a further tightening in labor market conditions. Lucia Mutikani of Reuters had the news: The Labor Department’s closely watched monthly employment report on Friday also […]
Business Insider lays off Fed writer Da Costa
Pedro Da Costa, who had been writing about the Federal Reserve Board and the economy for Business Insider since the beginning of January 2017, has been laid off. Da Costa said he plans to do some freelance work for the International Monetary Fund and World Bank, and he plans to take time to work on a […]
Coverage: The Fed is ready to raise interest rates
The Federal Reserve Board is set this week to raise interest rates for a third time this year to prevent the economy from growing too fast. Martin Crutsinger of the Associated Press had the news: But with President Donald Trump’s trade fights posing a risk to the U.S. economy, the Fed may soon be ready to slow […]
Houston Chronicle hires finance and economics reporter
Houston Chronicle business editor Al Lewis sent out the following announcement on Friday: Hello everyone: Please welcome John Roper who will be joining the business news staff on Monday as our new finance and economics reporter. John worked for the Chronicle in the mid-2000s and fondly recalls covering the Enron trial. He’s been a bureau chief for […]
