New car, truck, SUV sales plunged in the second quarter

Data: Edmunds; Graphic: Baidi Wang/Axios U.S. auto sales fell sharply in the second quarter as automakers continue to grapple with supply chain issues, slumping consumer sentiment and rising prices, according to estimates. interest rate. Why is this important: The auto industry remains an important driver of the US economy – and a drop in sales … Read more

Russia will replace Sakhalin-2 project operator with new firm

General view of the liquefied natural gas plant operated by Sakhalin Energy in Prigorodnoye on the pacific island of Sakhalin, Russia July 15, 2021. Picture taken July 15, 2021. REUTERS/Vladimir Soldatkin Join now for FREE unlimited access to Reuters.com Register June 30 (Reuters) – Russia will set up a company that will take over all … Read more

Column: Global business cycle starts to turn down: Kemp

An aerial view shows containers and cargo ships at the port of Qingdao in Shandong province, China May 9, 2022. China Daily via REUTERS Join now for FREE unlimited access to Reuters.com Register LONDON, June 30 (Reuters) – Global manufacturing activity and freight movements have started to slow as major economies slump under the combined … Read more

Atlanta Fed’s GDP Tracker Turns Negative

Economic data released over the past three months points to further economic contraction, which would mean that the US economy contracted for the entire first half of the year. The Federal Reserve Bank of Atlanta’s economic tracker GDPNOW turned negative on Thursday after the release of economic data on Thursday morning. The tracker now shows … Read more

What happened to Louisiana’s economy? New data shows big slump. | Business News

Louisiana’s economy shrank significantly in early 2022, according to new federal data, driven by a sharp decline in part of the state’s manufacturing sector as natural gas prices and headline inflation in the states States were soaring. The state’s real gross domestic product fell 4.3% on an annualized basis in the first quarter of this … Read more

Key Fed GDP tracker turns negative, signaling recession is here

Envestnet co-CIO Dana D’Auria reveals what she tells clients about investing in a rising rate environment on ‘The Claman Countdown’. The Federal Reserve’s key real-time model for tracking US economic activity has turned negative, signaling that the country may already have entered a recession. The GDPNow gauge, a widely watched measure from the Federal Reserve … Read more

Treasury blocks $1 billion trust owned by Russian oligarch

WASHINGTON (AP) — The Treasury Department said Thursday it has blocked a billion-dollar Delaware-based trust linked to sanctioned Russian oligarch Suleiman Abusaidovich Kerimov. The move comes after the United States seized a $325million superyacht – the 348ft-long Amadea – tied to Kerimov earlier this month. The size of the trust and the complexity of the … Read more

What You Should Do Now to Prepare for a Recession

Photo: rawpixel.com (Shutterstock) Not to be too alarmist, but the economy isn’t very good right now. To start, don’t look at your 401(k) at present. Of stock market crash at soaring consumer prices, a recession seems to be looming. Although the news is troubling, there are steps you can take to avoid panic and protect … Read more