Markets & Industries
Analysts expect eurozone retail sales to rise in September - 11/08/2022
DailyFX: Analysts anticipate a 0.4% increase in euro zone retail sales in September. According to economists surveyed by DailyFX, retail sales in the 19 nations that make up the euro area increased by 0.4% on a monthly basis in September after falling by 0.3% in August, and by 1.3% on an annual basis after falling by 2%. The European statistical organization Eurostat will release the official...
U.S. oil companies make $200B on rising energy prices - 11/07/2022
In the second and third quarters, U.S. public businesses engaged in oil production and refining had a combined profit of $200.2 billion, according to S&P Global Commodity Insights estimates for the Financial Times. The record gains, according to the experts, are the result of rising oil prices brought on by heightened geopolitical unrest as a result of the military conflict in Ukraine. S&P's...
Energy Minister: Saudi Arabia is pushing oil production up - 11/01/2022
Saudi Energy Minister Abdulaziz bin Salman stated at the ADIPEC conference in Abu Dhabi on the eve of the COP27 climate summit aimed at reducing global warming that Saudi Arabia and the United Arab Emirates (UAE) are working to increase energy production from renewable sources while also increasing oil production. The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) opened...
Volume of foreign exchange transactions across the globe hits record $7.5T a day - 10/31/2022
In 2022, the U.S. dollar will still be the most widely used currency in the world, with record-breaking daily currency trading volumes of $7.5 trillion. The news is supported by a poll released in April and conducted every three years by the Bank for International Settlements (BIS). The research claims that in April of this year, foreign exchange trading volumes grew by 14% from 2019 to a...
Bloomberg: China buys over half of Russian copper on London Metal Exchange - 10/31/2022
Over the previous three weeks, dealers were instructed to supply consumers in China with more than half of the copper from the London Metal Exchange (LME), the most of which has Russian provenance, reports Bloomberg. They claim that over 70,000 tons of copper were requested for delivery from LME warehouses by traders during this time. The majority of it is destined for Chinese buyers, according...
Profit of China's large industrial enterprises falls by 2.3 per cent in January-September 2022 - 10/27/2022
The first nine months of 2022 saw profits for China's large industrial businesses of 6.244 trillion yuan, or roughly $864 billion. According to figures issued on Thursday by China's State Statistics Office, the amount was down 2.3% from the same period in 2021. Only 19 out of 41 industries overall witnessed an increase in revenues, while 22 reported a decrease. Chinese businesses engaged in...
Bank of England notes recovery in government bond market - 10/25/2022
According to Dave Ramsden, deputy governor of the Bank of England, investor confidence in British economic policy is increasing and unveiling of the tax and spending plan will be crucial to continued recovery. Ramsden said the decreased borrowing costs in the financial markets were a welcome start, albeit markets remain "quite anxious," after former finance minister Rishi Sunak was picked as the...
Australian LNG exporters may have made up to $40 billion in excess profits since February - 10/21/2022
According to a report by The Australia Institute, Australian LNG businesses might have generated between $26 billion and $40 billion in unexpected gains due to higher energy prices for the 2021–2022 fiscal year, ended on June 30. The Australian government, despite multiple requests from economists, has not yet taxed the extra earnings of businesses that sell LNG, claims study author Mark Ogge....
China stops selling LNG abroad to accumulate reserves - 10/18/2022
State-owned importers are no longer allowed to resell liquefied natural gas (LNG) to customers in Europe and Asia, according to Bloomberg. The nation wants to build up its gas reserves, before the winter season. The State Development and Reform Committee of China has reportedly requested that PetroChina Co., Sinopec, and Cnooc Ltd. store winter supplies for domestic use, according to the...
Number of bankruptcies in Japan rises for the first time in three years - 10/17/2022
According to the Kyodo news agency, the first half of fiscal 2022, which started on April 1, saw an increase in the number of Japanese companies declaring bankruptcy for the first time in three years due to rising commodity costs and a lower yen. 3,141 businesses filed for bankruptcy between April and September 2022, up 6.9 percent from the same time last year. Another underlying issue was the...
