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Planet news, Quaker Hill, CT (2025)

01/25/2023

BRASILIA (Reuters) - Brazil's 11-day-old government braced on Wednesday for more anti-democratic protests by far-right former President Jair Bolsonaro's supporters whose rampage through government threatened the country's political stability.
The government of leftist President Luiz Inacio Lula da Silva bolstered security measures nationwide as flyers appeared on pro-Bolsonaro social media calling for mass demonstrations in Brazilian cities to "retake power."
"We have measures for this Wednesday to reinforce security throughout the country since pamphlets of new demonstrations have been circulated," Lula's chief of staff Rui Costa said late on Tuesday after a cabinet meeting.

01/24/2023

SAO PAULO (Reuters) - Retail sales volumes in Brazil posted in November their biggest drop in five months, government statistics agency IBGE said on Wednesday, affected by higher fuel prices and a weak Black Friday performance last year.
Brazil's retail sales fell 0.6% in November from October, IBGE reported, a deeper drop than the 0.3% one expected by economists polled by Reuters and the first negative reading since July.
The latest data came in as consumption stutters in Brazil amid a lack of credit growth, higher interest rates and rising consumer prices, research manager Cristiano Santos said in a statement.

01/23/2023

WASHINGTON (Reuters) - The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues, and the world's major economic engines sputter.
The development lender said it expected global GDP growth of 1.7% in 2023, the slowest pace outside the 2009 and 2020 recessions since 1993. In its previous Global Economic Prospects report in June 2022, the bank had forecast 2023 global growth at 3.0%.
It forecast global growth in 2024 to pick up to 2.7% -- below the 2.9% estimate for 2022 -- and said average growth for the 2020-2024 period would be under 2% -- the slowest five-year pace since 1960.

01/22/2023

South Korean solar energy company Qcells on Wednesday said it would invest $2.5 billion to expand its manufacturing capacity in the United States, creating as many as 2,500 jobs in Georgia.
The announcement by the solar division of conglomerate Hanwha Corp is one of the biggest corporate manufacturing commitments since the passage of U.S. President Joe Biden's Inflation Reduction Act (IRA), which includes over $300 billion in subsidies to tackle climate change.
Some of those incentives are aimed at boosting domestic manufacturing of clean energy products that are currently made primarily in China, such as solar cells and panels.

01/22/2023

NEW YORK (Reuters) - A tumultuous start for the new U.S. Congress has some investors worried about what could be a prolonged battle over raising the U.S. debt ceiling later this year.
The U.S. Treasury is expected to reach its mandated $31.4 trillion borrowing limit in 2023, and Republicans see that as an opportunity to curb President Joe Biden's spending on Democratic initiatives such as climate change and new social programs.
While fights over raising the debt limit are nothing new in Washington, some investors worry the Republican party's narrow majority in Congress could give the party’s hard-liners the upper hand, making it much harder to reach a deal this time around.

01/21/2023

Ryanair is closing its Brussels Zaventem base because of the airport's decision to increase prices from April, it said on Wednesday.
Europe's largest budget airline said the airport's decision comes at a time when most European airports are reducing prices to recover traffic lost during the COVID-19 pandemic.
"Despite recent rumours, we will not be reopening our Brussels Zaventem base in summer 2023 due to Zaventem Airport's decision to increase prices by 11% for airlines and passengers from April 2023," Chief Executive Michael O'Leary said in a statement.

01/21/2023

1. The European Central Bank must still raise interest rates "significantly" over its coming meetings to restrict growth and dampen inflation, which has been far too high, Finnish central bank chief Olli Rehn said on Wednesday.
The ECB has raised rates by a combined 2.5 percentage points since July and promised "a steady pace" of hikes over the coming months but some policymakers have started to argue that a peak in interest rates may be near given a looming recession.
"Policy rates will still have to rise significantly," Rehn, who sits on the ECB's rate-setting Governing Council, told a webinar with the Peterson Institute for International Economics. "This means significant rate hikes at this winter's remaining meetings."

01/20/2023

(Reuters) - British power generator and network operator SSE (LON:SSE) Plc on Friday raised its annual earnings forecast, helped by strong market conditions amid a surge in energy prices.
The company said it now expects adjusted earnings per share of more than 150 pence for fiscal year 2023, up from the previous outlook of at least 120 pence.

01/20/2023

LONDON (Reuters) -Inflation-pinched British shoppers unexpectedly cut their spending in December, official data showed on Friday, dashing hopes for a Christmas shopping boost for the country's flagging retail sector.
Retail sales volumes fell by 1% in December from November, the Office for National Statistics said.
A Reuters poll of economists had pointed to a 0.5% monthly rise in sales in the key Christmas month.

01/19/2023

The December snowstorms that sent Southwest Airlines (NYSE:LUV) and U.S. air travel into chaos last year may be sending a chill through markets' soft-landing hopes for the broader economy.
Traders took Wednesday's weak U.S. production, retail sales and producer price data badly, selling risk assets and buying safer ones. Bond markets shrugged off hawkish rhetoric from non-voting Fed officials Bullard and Mester to rally.

01/19/2023

The dollar rose broadly on Thursday as growth concerns about the U.S. economy drove demand for the safe-haven greenback, while the yen rebounded as speculators doubled down on bets that the Bank of Japan would shift away from its yield curve control policy.
Weak U.S. data released on Wednesday showed that retail sales fell by the most in a year in December and manufacturing output recorded its biggest drop in nearly two years, stoking fears that the world's largest economy is headed for a recession.

01/18/2023

The Japanese yen tumbled and bonds notched their biggest rally in two decades on Wednesday after the country's central bank stuck to its ultra-easy monetary policy, defying expectations that it would start phasing out its massive stimulus programme.
Speculation in the bond market that the BOJ would tweak its yield curve control (YCC) settings at the meeting that concluded on Wednesday had pushed 10-year government bond yields above the policy cap of 0.5% for a fourth straight session.

01/18/2023

Japan's yen, long favoured as a safe-haven and funding currency, has in recent weeks become so enmeshed in market speculation over central bank policy that Wednesday's decision to retain the status quo set off the steepest yen fall in nearly three years.
The yen dropped more than 2% after the Bank of Japan said it was sticking to its controversial yield control policy, in defiance of market expectations of a tweak to its yield cap or other settings. Those expectations had driven a 14% rally in the yen in the past three months. In the bond market, where the central bank has battled bond bears to defend its yield cap, the BOJ has bought up so many of Japan's outstanding 10-year government bonds that market liquidity has virtually dried up.

01/17/2023

German inflation eased further in the final month of 2022, with consumer prices rising by 9.6% year on year in December in harmonised terms, the federal statistics office said on Tuesday, confirming preliminary data.
This compared with an annual harmonised inflation rate of 11.3% in November and 11.6% in October.
For the whole of 2022, harmonised inflation came in at 8.7%, said the office, which publishes more detailed data on its website.

01/17/2023

The pace of pay growth in Britain - which is being closely watched by the Bank of England as it gauges how much higher to raise interest rates - picked up more pace in the three months to November, official data showed on Tuesday.
Pay including bonuses rose by an annual 6.4% in the September-to-November period, the biggest increase since records began in 2001 excluding jumps during the COVID-19 period which were distorted by lockdowns and government support measures.

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