Reserve Bank of Australia Governor Philip Lowe said more interest rate increases are likely in the coming months as the central bank will do what is necessary to ensure that inflation returns to the target range over time. Although the interest rate is still very low, the governor played down the market expectations for an increase in the rate to […]

video Fox Business Flash top headlines for June 20 Check out what’s clicking on FoxBusiness.com. Former Tesla employees have filed a lawsuit against the company, arguing that its "mass layoff" violated federal law since workers were not provided advance notice of their firings. The lawsuit, filed late Sunday in Texas by two workers saying they were fired in June from […]

Super accounts took a beating this week following the carnage on world sharemarkets, with the return of the typical “growth” investment option for this financial year sitting at about minus 5 per cent. That could leave fund members who are close to retirement fearing they may have to work for longer and may seek to stem losses by switching to […]

Reflecting a sharp pullback in auto sales, the Commerce Department released a report on Wednesday showing an unexpected decrease in U.S. retail sales in the month of May. The report showed retail sales fell by 0.3 percent in May after climbing by a downwardly revised 0.7 percent in April. Economists had expected retail sales to edge up by 0.2 percent […]

A report released by the Labor Department on Wednesday showed U.S. import prices increased by less than expected in the month of May. The Labor Department said import prices climbed by 0.6 percent in May after rising by a revised 0.4 percent in April. Economists had expected import prices to jump by 1.1 percent compared to the unchanged reading originally […]

video FOX Business Flash top headlines for June 15 Check out what’s clicking on FoxBusiness.com. The Biden administration announced a seventh mission for "Operation Fly Formula," amid the nationwide shortage of infant formula.  In a release, the administration said it would facilitate the shipment of approximately 548,000 eight-ounce bottle equivalents of Nestlé Alfamino® and Alfamino®Junior specialty infant formula this week, or […]

video US ramps up credit card debt to record levels as inflation soars FOX Business’ Madison Alworth speaks to Bankrate.com senior analyst Ted Rossman on why consumers need to deal with their credit card debt sooner than later. As some economists predict interest rates to hit recession highs through this year, credit card experts are advising consumers to pay off […]

video The Fed wants to see ‘economy slow down’: WSJ reporter Nick Timiraos, the chief economics correspondent for The Wall Street Journal, provides insight into how the Fed is handling soaring inflation.  U.S. manufacturers' sentiment declined in the second quarter of 2022 as companies grappled with soaring inflation, worker shortages and supply chain struggles.  While optimism for their own businesses […]

Things are looking dire on sharemarkets as the war in Ukraine acerbates surging inflation and a resultant global rise in interest rates. The benchmark S&P/ASX 200 Index fell more than 5 per cent at one point on Tuesday on the back of a big dive in US equity markets. The heavy losses took its decline so far this year to […]

video Is a recession in the US expected? Philadelphia Fed board member weighs in Chris Maher weighs in on the current economic climate on “Mornings with Maria,” arguing that a recession will be “mild” in the event that it happens. Chris Maher, a Federal Reserve Bank of Philadelphia board member, argued that inflation is creating "stress" in the environment that […]