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U.S. leading economic index pointing to recession around end of the year, Conference Board says…… US Recession Chances Surge to 38%, Bloomberg Economics Model Says

U.S. leading economic index pointing to recession around end of the year, Conference Board says…… US Recession Chances Surge to 38%, Bloomberg Economics Model Says

Leading economic index declines 0.8% in June, fourth straight monthly drop   Conference Board said: “Amid high inflation and rapidly tightening monetary policy, The Conference Board expects economic growth will continue to cool throughout 2022. A U.S. recession around the end of this year and early next is now likely, said Ataman Ozyildirim, senior director of …

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Wall Street closes lower after disappointing earnings……. Snap shares plunge 38% after disappointing earnings….. Twitter sees $344M Q2 operating loss…….. Verizon’s Q2 revenue at $33.8B, up by just 0.1%……. Blackstone Q2 revenue falls to $629M Blackstone Q2 revenue falls to $629M

Wall Street closes lower after disappointing earnings……. Snap shares plunge 38% after disappointing earnings….. Twitter sees $344M Q2 operating loss…….. Verizon’s Q2 revenue at $33.8B, up by just 0.1%……. Blackstone Q2 revenue falls to $629M Blackstone Q2 revenue falls to $629M

Major United States indexes closed lower on Friday with tech stocks falling sharply after disappointing earnings from Snap and Twitter. The Dow Jones declined 0.43%. The worst performer was Verizon, whose shares plummeted 6.75% after the company posted worse-than-expected second-quarter results. The Nasdaq 100 slumped 1.77% with Lucid Group plunging 8.38% and Meta tumbling 7.59%. …

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France to restart coal power station to avoid energy shortage

France to restart coal power station to avoid energy shortage

PARIS, June 26 (Reuters) – The French government could restart a coal-fired power plant in the Lorraine region in north eastern France this winter, France’s energy ministry said in a written statement Sunday, confirming a report from broadcaster RTL. “As a precautionary measure, given the situation in Ukraine, we are reserving the option to reactivate …

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Philadelphia Fed Factory Outlook Falls to Lowest Since 1979… the Conference Board’s index of leading economic indicators dropped 0.8% in June, the steepest slide since April 2020

Philadelphia Fed Factory Outlook Falls to Lowest Since 1979… the Conference Board’s index of leading economic indicators dropped 0.8% in June, the steepest slide since April 2020

Philadelphia-area manufacturers’ outlook for business conditions slumped this month to the lowest level since 1979 as gauges of future new orders and planned capital expenditures both deteriorated. Federal Reserve Bank of Philadelphia data on Thursday showed a measure of business conditions six months from now slid nearly 12 points to minus 18.6. The index of …

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Lagarde: Inflation to stay undesirably high for some time

Lagarde: Inflation to stay undesirably high for some time

European Central Bank (ECB) President Christine Lagarde stated on Thursday that inflation is expected to “remain undesirably high for some time” as global energy prices stay high in the near term. She warned that price pressures are spreading across more sectors in part because of energy price pressures. However, she noted that “in absence of …

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ECB hikes interest rates by 50 bps, first in 11 years

ECB hikes interest rates by 50 bps, first in 11 years

The European Central Bank (ECB) decided on Thursday to raise key interest rates by 50 basis points, marking the first rate hike since 2011. The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 0.50%, 0.75% and 0.00% respectively, with …

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Gazprom doubles yesterday’s gas supply today – Eni……. European gas down 10% as Nord Stream restarts

Gazprom doubles yesterday’s gas supply today – Eni……. European gas down 10% as Nord Stream restarts

https://youtu.be/oHCWZPTFylo Gazprom will deliver approximately 36 million cubic meters of gas today as opposed to yesterday’s 21 million cubic meters, Italian multinational oil and gas company Eni announced on Thursday morning. Earlier in the day, the German Federal Network Agency noted that the Russian oil and gas giant intends to get back to the same …

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Putin: Even Launch Of Nord Stream 2 Can’t Help With Europe’s Gas Shortage

Putin: Even Launch Of Nord Stream 2 Can’t Help With Europe’s Gas Shortage

Even if Russia were to start Nord Stream 2 tomorrow, the gas flows through it would be unable to alleviate much of the natural gas shortages in Europe, Russian President Vladimir Putin said on Wednesday, adding that he had warned German Chancellor Olaf Scholz about this. Germany actually never certified the twin link of the …

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