Bank of England Downgrades UK Growth Forecast to Zero, Blaming Labour's Budget
The Bank of England slashed its UK growth forecast to zero for the final quarter of 2024, blaming Chancellor Rachel Reeves's £25 billion National Insurance hike for crushing business confidence and potentially triggering a recession; pre-Budget growth was described as 'gangbusters'.
Bank of England Downgrades UK Growth Forecast to Zero, Blaming Labour's Budget
The Bank of England slashed its UK growth forecast to zero for the final quarter of 2024, blaming Chancellor Rachel Reeves's £25 billion National Insurance hike for crushing business confidence and potentially triggering a recession; pre-Budget growth was described as 'gangbusters'.
Progress
68% Bias Score
European Butter Prices Soar Amidst Global Milk Shortage
Butter prices in Europe have increased drastically, averaging a 19% rise from October 2023 to October 2024 due to decreased milk production globally, impacting consumers' budgets and leading to political debate in some countries.
European Butter Prices Soar Amidst Global Milk Shortage
Butter prices in Europe have increased drastically, averaging a 19% rise from October 2023 to October 2024 due to decreased milk production globally, impacting consumers' budgets and leading to political debate in some countries.
Progress
56% Bias Score
Fed Cuts Rates, but Market Reacts Negatively to Revised Outlook
The Federal Reserve lowered interest rates by 0.25 percentage points to 4.25-4.5 percent on Wednesday, but markets reacted negatively due to a revised outlook on future cuts; the Nasdaq-100 fell 3.6 percent, Tesla dropped 8 percent, and the Dow Jones lost 2.6 percent, while the dollar strengthened a...
Fed Cuts Rates, but Market Reacts Negatively to Revised Outlook
The Federal Reserve lowered interest rates by 0.25 percentage points to 4.25-4.5 percent on Wednesday, but markets reacted negatively due to a revised outlook on future cuts; the Nasdaq-100 fell 3.6 percent, Tesla dropped 8 percent, and the Dow Jones lost 2.6 percent, while the dollar strengthened a...
Progress
48% Bias Score
Trump Threatens EU Tariffs Over Energy Trade
President-elect Donald Trump threatened on Thursday to impose tariffs on the European Union unless they significantly increase purchases of American oil and gas to reduce the trade deficit; European stocks fell sharply in response.
Trump Threatens EU Tariffs Over Energy Trade
President-elect Donald Trump threatened on Thursday to impose tariffs on the European Union unless they significantly increase purchases of American oil and gas to reduce the trade deficit; European stocks fell sharply in response.
Progress
48% Bias Score
Global Milk Shortage Drives 19% Surge in European Butter Prices
A global milk shortage caused by reduced production (due to drought, disease, and decreased profitability), increased energy costs, and higher demand has led to a 19 percent average increase in butter prices across the EU between October 2023 and October 2024, with some countries seeing increases as...
Global Milk Shortage Drives 19% Surge in European Butter Prices
A global milk shortage caused by reduced production (due to drought, disease, and decreased profitability), increased energy costs, and higher demand has led to a 19 percent average increase in butter prices across the EU between October 2023 and October 2024, with some countries seeing increases as...
Progress
44% Bias Score
US Inflation Slows, but Fed Remains Cautious Amidst Economic Uncertainty
The November PCE price index rose 2.4% year-over-year and 0.1% month-over-month, lower than economists' projections, indicating a slower inflation pace despite uncertainty around future economic policies and global events.
US Inflation Slows, but Fed Remains Cautious Amidst Economic Uncertainty
The November PCE price index rose 2.4% year-over-year and 0.1% month-over-month, lower than economists' projections, indicating a slower inflation pace despite uncertainty around future economic policies and global events.
Progress
32% Bias Score
Fed's Hawkish Pivot Triggers Global Market Selloff
The Federal Reserve's hawkish pivot triggered a sharp global selloff in stock markets on Thursday, December 21, 2023, with major indices falling significantly, and bond yields rising across the Atlantic.
Fed's Hawkish Pivot Triggers Global Market Selloff
The Federal Reserve's hawkish pivot triggered a sharp global selloff in stock markets on Thursday, December 21, 2023, with major indices falling significantly, and bond yields rising across the Atlantic.
Progress
44% Bias Score
Global Butter Shortage Drives Up Prices Across Europe
The price of butter has risen sharply across Europe, up 19% on average in the EU from October 2023 to October 2024, due to global milk shortages caused by factors including reduced milk production in the US and New Zealand, higher energy costs, disease outbreaks, and falling milk prices discouraging...
Global Butter Shortage Drives Up Prices Across Europe
The price of butter has risen sharply across Europe, up 19% on average in the EU from October 2023 to October 2024, due to global milk shortages caused by factors including reduced milk production in the US and New Zealand, higher energy costs, disease outbreaks, and falling milk prices discouraging...
Progress
52% Bias Score
Fed Slows Interest Rate Cuts, Dampening Market Optimism
Jerome Powell announced a slower-than-expected pace of interest rate cuts due to a strong US economy and persistent inflation, causing a market downturn despite positive long-term stock market predictions; the euro also weakened against the dollar.
Fed Slows Interest Rate Cuts, Dampening Market Optimism
Jerome Powell announced a slower-than-expected pace of interest rate cuts due to a strong US economy and persistent inflation, causing a market downturn despite positive long-term stock market predictions; the euro also weakened against the dollar.
Progress
36% Bias Score
EU Butter Prices Surge Amidst Global Milk Shortage
Across the EU, butter prices increased by 19% between October 2023 and October 2024 due to a global milk shortage caused by reduced production and exacerbated by factors like energy costs and disease outbreaks; this has led to government interventions and consumer changes in purchasing habits.
EU Butter Prices Surge Amidst Global Milk Shortage
Across the EU, butter prices increased by 19% between October 2023 and October 2024 due to a global milk shortage caused by reduced production and exacerbated by factors like energy costs and disease outbreaks; this has led to government interventions and consumer changes in purchasing habits.
Progress
44% Bias Score
Market Volatility Amid Inflation Fears, Shutdown Looms, and Amazon Strike
Friday's stock market futures fell due to inflation concerns and a failed House Republican funding bill that risks a government shutdown; Amazon workers went on strike, while Nike reported lower revenue.
Market Volatility Amid Inflation Fears, Shutdown Looms, and Amazon Strike
Friday's stock market futures fell due to inflation concerns and a failed House Republican funding bill that risks a government shutdown; Amazon workers went on strike, while Nike reported lower revenue.
Progress
40% Bias Score
Robust U.S. Consumer Spending Prompts Fed to Revise Interest Rate Projections
U.S. consumer spending rose 0.4% in November, exceeding expectations and driven by increased purchases of vehicles and various services; inflation remained moderate, prompting the Federal Reserve to project fewer interest rate cuts in 2025.
Robust U.S. Consumer Spending Prompts Fed to Revise Interest Rate Projections
U.S. consumer spending rose 0.4% in November, exceeding expectations and driven by increased purchases of vehicles and various services; inflation remained moderate, prompting the Federal Reserve to project fewer interest rate cuts in 2025.
Progress
36% Bias Score