Retail sales in the U.S. jumped by more than expected in the month of June, according to a report released by the Commerce Department on Friday. The Commerce Department said retail sales shot up by 1.0 percent in June after edging down by a revised 0.1 percent in May. Economists had expected retail sales to increase by 0.8 percent compared […]

With the Federal Reserve’s next monetary policy decision looming toward the end of the month, the central bank released its latest Beige Book on Wednesday. The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, noted U.S. economic activity has expanded at a modest pace since mid-May. However, the Fed said several […]

video Skyrocketing inflation forces shoppers to work overtime and change diets as prices soar Washington, D.C., shoppers say inflation is affecting them so much they are changing their diets, working overtime and going without essentials. Shoppers in the nation's capital are working overtime, changing their diets and going without to afford groceries and other supplies, they told Fox News.  "I'm […]

video FOX Business Flash top headlines for July 13 Check out what’s clicking on FoxBusiness.com. A combination of record high electrical demand due to a scorching heat wave and low wind generation prompted the Electric Reliability Council of Texas (ERCOT) to call for Texans to conserve energy again on Wednesday.  Heat advisories by the National Weather Service remained in place […]

The New Zealand central bank raised its interest rate for the sixth straight time and vowed to continue its tightening mode to bring inflation back to the target. The Monetary Policy Committee of the Reserve Bank of New Zealand on Wednesday decided to lift the Official Cash Rate to 2.50 percent from 2.00 percent, as widely expected. The latest action […]

A closely watched report released by the Labor Department on Friday showed U.S. job growth exceeded economist estimates in the month of June. The Labor Department said non-farm payroll employment jumped by 372,000 jobs in June after surging by a revised 384,000 jobs in May. Economists had expected employment to increase by 268,000 jobs compared to the addition of 390,000 […]

The Reserve Bank doesn’t want to send Australians broke as it hikes rates, but it would like us to feel a little less well off. It thinks we’ll largely be able to cope as it traverses the “narrow road” – as governor Philip Lowe said recently – back to a normal cash rate and lower inflation. RBA governor Philip Lowe.Credit:Louie […]

video FOX Business Flash top headlines for July 7 Check out what’s clicking on FoxBusiness.com. U.S. mortgage rates are down for the second consecutive week as investors seek a safe haven amid escalating recession worries. Freddie Mac's latest Primary Mortgage Market Survey released Thursday shows the average rate on a 30-year fixed mortgage is now at 5.3%. The reading is […]

Sainsbury (J) Plc (JSAIY.PK,SBRY.L), a British super market chain, on Tuesday said in a first quarter update that its trading is in line with expectations. It also posted a decline in retail sales for the quarter against previous year’s elevated Covid-19 driven levels. In addition, the company has reiterated its earnings outlook for the fiscal 2022-23. For the three-month to […]

Australians have likely just spent their way to a 50 basis point increase in interest rates this month, having gone on a mad splurge at the end of financial year sales in June. The consensus is that there is virtually no escaping a Reserve Bank decision to push rates up by half a percentage point when it delivers its verdict […]