Money Talks

With winter approaching, countries in Europe are facing a new stark reality and people are turning to wood to offset the loss of Russian natural gas supplies. Firewood has become a hot commodity, and across the continent, people are paying a premium so they can stay warm as the war in Ukraine rages on. Tulay Kalyon Haznedaroglu has more.

#Europe #Energy #Firewood

The United Nations warns harmful global heating emissions are at record levels. And current commitments to slash emissions, particularly by the world's largest polluters, still fall far short. Managing the climate crisis has also become harder because of the war in Ukraine, which has made governments re-think their own clean energy goals. And as our experts have laid out, the ongoing conflict has also led to massive profits for producers of the world's dirtiest fuels.

For more on this, we spoke to Faustine Delasalle in Lille and Joe Lo in London.

#COP27 #Energy #Climate

Hong Kong stocks rose 7% on Friday, with tech and consumer cyclical stocks driving the surge. That's amid China reopening rumors, and a report that US inspections of Chinese company audits were completed more quickly than expected.

For more on Chinese economy, we spoke to Jameel Ahmad. He is the chief market analyst for MENA region at Alpari.

#China #ChineseEconomy #AsianShares

The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. Asian markets are all painted red, with Hong Kong leading losses and the dollar has strengthened against the euro and against major Asian currencies.

For more on this, we spoke to Han Tan. He is the chief market analyst at Exinity Group.

#UnitedStates #Federal Reserve #Interest rates

Oil prices are rising today after industry data showed a surprise drop in US crude stockpiles, suggesting demand is holding up. But prices are also rising on a weaker US dollar, and after rumours trending on social media, that the Chinese government is considering ways to relax COVID rules from March 2023.

For more on this, we spoke to Naeem Aslam. He is the chief market analyst at AvaTrade.

#OilPrices #OilDemand #OilSupply

Economic growth in the Eurozone slowed sharply in the third quarter, reflecting the impact of higher inflation on both consumers and households. GDP in the three months to September rose just 0.2% quarter on quarter. On an annual basis, economic activity was up by 2%, or less than half the expansion recorded in the previous three months.

For more on this, we spoke to Craig Erlam. He is a senior market analyst at OANDA.

#Eurozone #EconomicGrowth #Inflation

Global stocks are rising, as investors turn more hopeful that the US Federal Reserve may slow down the pace of rate hikes to support economic growth. That's ahead of the American central bank's two-day policy meeting that begins Tuesday. Most analysts expect a rate hike of 75 basis points, matching what it's done in the last three meetings.

For more on this, we spoke to Stephen Innes. He is managing partner at SPI Asset Management.

#StockMarket #FederalReserve #InterestRates

Chinese factory output shrank in October as Beijing continued to choke the nation's industries with the use of lockdowns against COVID-19. Official data released on Monday show the purchasing manager's index for the manufacturing sector fell to 49.2 points this month. That grim report is weighing on the price of crude, because China is the world's top importer of the stuff.

For more on this, we were joined by Guido Cozzi. He is a macroeconomics professor at University of St. Gallen.

#ChinaEconomy #Manufacturing #OilPrices

Cotton is the leading export commodity in Benin, making up 61% of all shipments. But almost all of it is exported raw. The government is hoping to develop the country's textile sector, with the goal of making apparel for consumer markets around the world.

#Benin #Cotton #Textile

Shares of Meta, one of the most famous companies in the world, have been in a death spiral.

The company issued a weak forecast for the fourth quarter and came up well short of Wall Street's expectations when it came to earnings. Stocks are down as much as 70% this year. We've seen the impact of all this across the board: Alphabets, Amazon, Microsoft, even Pinterest shares plunged this week. The Nasdaq as a whole is down around 30% this year only, and it's on course for its worst annual performance since 2008.

For more on this, we spoke to Daniel Ives, managing director of Wedbush Securities.

#Facebook #Meta #Metaverse