China’s Industrial Profit Falls on Covid-19 Measures, Bad Weather
China’s industrial profit dropped in the first seven months of the year, reversing a year-on-year increase in the first half...
Economic News
U.S. GDP Fell Less Than Previously Thought in Second Quarter
The second-quarter decline in U.S. economic output was less severe than initially estimated and unemployment claims fell slightly last week,...
Biden to Announce Student Loan Forgiveness Plan
President Biden is planning to take executive action to forgive $10,000 or more in federal student loan debt for tens...
White House Planning Student-Loan Announcement Wednesday
White House officials are planning for President Biden to make an announcement on Wednesday about his proposal for dealing with...
U.S. Steps Up Enforcement of Its Long List of Russia Sanctions
WASHINGTON—The U.S. has imposed a set of powerful sanctions against Russia’s economy to punish it for the invasion of Ukraine....
Amazon Adds Revenue Streams as Holiday Season Approaches
Amazon.com Inc. AMZN -2.86% is adding new revenue streams ahead of the holiday season to help it counter inflationary pressures...
Twitter Warns Staff of Potential Cuts to Employee Bonuses
Twitter Inc. TWTR 0.30% warned staff that the size of bonus payments this year was at risk because of financial...
Fed’s Bullard Leans Toward Favoring 0.75-Percentage-Point September Rate Rise
Federal Reserve Bank of St. Louis President James Bullard said Thursday he is considering support for another large rate rise...
Wall Street Bets the Fed Is Bluffing in High-Stakes Inflation Game
Wall Street thinks it’s bluffing.This could spell trouble for both of them. Markets pummeled by the Fed’s rate increases in...
U.S. Home-Sales Report for July Comes as Housing Market Cools
The National Association of Realtors’ July report on existing-home sales will cap a week of figures that so far have...
Fed Officials See Need for Continued Interest-Rate Increases, but Less Certainty Over Destination
Federal Reserve officials agreed at their monetary-policy meeting last month they needed to keep raising interest rates enough to lower...
U.S. Retail Spending Held Steady in July
U.S. consumers continued opening their wallets last month, shifting savings from falling gasoline prices to purchases of everyday goods as...
U.K. Inflation Tops 10%, Underlining Gloomy Outlook for Europe
The U.K.’s annual rate of inflation moved into double digits in July and is set to rise even higher by...
BHP Earnings Nearly Triple as Coal Prices Run Hot
ADELAIDE, Australia—BHP Group Ltd. said its annual profit nearly tripled as it benefited from the sale of its petroleum business...
Federal Reserve Finalizes Guidelines for Access to Its Payment Systems
The Federal Reserve said Monday it would adopt a tiered approach toward determining whether to grant financial institutions access to...
China Growth Slows Across All Fronts in July, Prompting Unexpected Rate Cut
SINGAPORE—China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly...
Japanese Economy Recovers Prepandemic Size With 2.2% Growth
TOKYO—Japan’s economy recovered its prepandemic size in the April-June quarter thanks to strong consumer spending and higher exports, but inflation...
Aramco Reports Record Profit, Injecting Saudi Kingdom With Cash
DUBAI—High crude prices are infusing Saudi Arabia with billions of dollars in cash, fueling record profit at its national oil...
Consumers Are Still Spending on Fun
Americans are splurging on summer travel and entertainment, putting their money toward experiences outside of the homes where they spent...
Fed Likely to Want Further Evidence of Inflation Slowdown
A slowdown in inflation last month, following recent indications of a robust labor market, complicates the Federal Reserve’s decision on...
