China’s economy grew 5.3% in first quarter, beating expectations

[ad_1] HONG KONG — China’s economy in the first quarter beat expectations while receiving a boost from policies and an increase in demand, the government said Tuesday. The world’s second-largest economy expanded at a 5.3% annual pace in January-March, beating analysts’ forecasts of about 4.8%, official data show. Compared to the previous quarter, growth was … Read more

4/10: Prime Time with John Dickerson

[ad_1] 4/10: Prime Time with John Dickerson – CBS News Watch CBS News John Dickerson reports on what is keeping inflation high, the Japanese prime minister’s visit to the White House, and why 211 operators are flagging calls about poverty. Be the first to know Get browser notifications for breaking news, live events, and exclusive … Read more

When will Fed cut rates? As US economy flexes its muscles, maybe later or not at all

[ad_1] WASHINGTON — Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates? But now, with the U.S. economy showing surprising vigor, a … Read more

US and China plan talks on economics, including manufacturing issue, Yellen says

[ad_1] GUANGZHOU, China — The U.S. and China agreed to hold talks that will address a key American complaint about China’s economic model, Treasury Secretary Janet Yellen said on the second day of an official visit to China. The two sides will hold more talks and create two new economic groups dedicated to growth in … Read more

US jobs report for March is likely to point to slower but still-solid hiring

[ad_1] WASHINGTON — The American economy is thought to have added 200,000 jobs in March — a more-than-respectable increase though one that would mark a slowdown from February’s vigorous gain of 275,000 and last year’s monthly average increase of 251,000. A modest downshift in hiring could reassure the Federal Reserve that the economy isn’t running … Read more

Inflation has slid again in Europe. What that means for interest rates

[ad_1] FRANKFURT, Germany — The inflation that has squeezed European shoppers fell more than expected in March to 2.4%, as cost spikes in the grocery aisle eased and overall price rises headed down in the two biggest economies, Germany and France. The annual figure for the 20 countries that use the euro currency came in … Read more

What to know about California’s new fast food minimum wage

[ad_1] What to know about California’s new fast food minimum wage – CBS News Watch CBS News Fast food workers in California will now earn a minimum of $20 an hour. CBS News correspondent Carter Evans has more details. Then, economy and labor journalist Margot Roosevelt joins to discuss what the wage changes mean for … Read more

IMF confirms increasing Egypt’s bailout loan to $8 billion

[ad_1] CAIRO — The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from $3 billion to $8 billion, in a move that is meant to shore up the Arab country’s economy which is hit by a staggering shortage of foreign currency and soaring inflation. In a … Read more

New Zealand slips into its second recession in 18 months as economy contracts

[ad_1] WELLINGTON, New Zealand — New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023. The country’s economy shrank by 0.1% in the quarter to December, and 0.7% in per capita terms, the New Zealand’s official statistics agency, … Read more

The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years

[ad_1] TOKYO — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a … Read more