The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a currency crash of a severity not seen since the 1997 Asian financial crisis reverberated around the world. . Fear of destabilization brings back memories of the 1997 Asian financial crisis, which was triggered by the devaluation of the Thai baht.
Tobacco giant Altria said Friday it ended a non-compete agreement with Juul, which is mired in a fight with a US agency over its ability to sell vaping products.. Juul said Friday that the end of the non-compete clause with Altria "gives us more flexibility as it increases the financial and strategic options we can pursue to secure our business and address the impact of the FDA's now stayed order," a Juul spokesman said.
A closely-watched measure of US inflation showed the annual pace of price increases slowed slightly in August as energy costs fell and increases in food costs eased, according to government data released Friday.. The Fed's preferred inflation measure, the personal consumption expenditures (PCE) price index, increased 6.2 percent from August 2021, down slightly from the pace in July and from the 7.0 percent peak in June, the Commerce Department reported.
A 14-year-old British girl died from an act of self harm while suffering from the "negative effects of online content", a coroner said Friday in a case that shone a spotlight on social media companies.. The teenager "died from an act of self-harm while suffering depression", he said, but added it would not be "safe" to conclude it was suicide.
Britain is not yet in recession, revised data showed Friday in a boost for under-fire Prime Minister Liz Truss, but its economy may still face a downturn on soaring interest rates.. But the country's economy remains fragile, with Friday's data also revised to show that it was still below pre-Covid levels.
Eurozone consumer prices skyrocketed by a record 10 percent in September, official data showed on Friday, as inflation reached double digits on the back of soaring energy prices caused by Russia's war on Ukraine.. Eurostat data also published on Friday showed the eurozone unemployment rate remaining at a record low of 6.6 percent in July.
Japan's media-savvy digital minister said Friday he's ready to take an iron-fisted approach to speed up the nation's slow embrace of online services at government offices and workplaces.. "The pandemic forced everyone to acknowledge that Japan's digitalisation has been slow," added Kono.
France's economy minister said Friday that he was worried by the financial turbulence in Britain, criticising Prime Minister Liz Truss's economic policies for causing a "disaster" of high borrowing rates for her country.. Truss's "mini-budget" announced last Friday included major tax cuts that would need to be financed by extra borrowing, spooking investors who immediately questioned the credibility of the policies and Britain's financial standing.
China released more pork reserves Friday, state media said, after prices of the staple meat soared by almost a third, triggering inflation concerns.. "China will release more pork from government reserves to the market on Friday to maintain supply and price stability," official People's Daily reported.
Japan is preparing another round of economic stimulus measures, the government said Friday, as rising prices and the plummeting yen squeeze the world's third-largest economy.. Kishida said on Thursday that his government would take "bold" measures to tackle inflation and the falling yen, as "the rapid rise of energy and food prices is directly hitting households".
