Latest from James Graham

• Jan 18, 2023

  Lots of consumers said “No thanks” to buying a car in 2022

  

  Consumers seemingly couldn’t buy enough cars during the peak of the pandemic, but recent data shows that the auto industry saw widespread declines in vehicle sales last year. We delve into what drove the decline and what car sellers are doing to adjust. Lower vehicle sales also contributed to an overall decline in retail sales in December — a good sign for investors, says Susan Schmidt. But that may not be the case for others — we checked in with a number of small businesses to see how they’re faring. And, the BBC’s Ruth Alexander reports on the global rise in egg prices. 

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• Jan 18, 2023

  Millennials are buying more and more homes

  

  A big change in the housing market is happening — young people aged 25 to 34 are making up a bigger and bigger proportion of homeowners. A new analysis from Harvard’s Joint Center for Housing Studies says millennials, a group that has traditionally faced difficulties with high home prices, are making inroads as they age and start families. Global demand for oil will reach a new record this year, according to the International Energy Agency. And, the Bank of Japan again declined to raise interest rates, bucking expectations and continuing the country’s policy of ultra-loose monetary policy that has kept rates near zero for years. 

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• Jan 18, 2023

  Has global inflation peaked?

  

  From the BBC World Service: Global inflation seems to be easing – but there’s still no quick fix. The latest data from Europe suggests the worst of the inflation pain might be over for now. We hear from consumers and businesses in the UK where prices are still high, and we take a look at Japan’s unique approach to rising prices. Plus, Elon Musk changed Twitter’s blue tick system and now an unlikely party has been taking advantage – Afghanistan’s Taliban.

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• Jan 17, 2023

  The latest data on China’s economy isn’t good at all

  

  Fresh economic data from the Chinese government paints a picture of a rapidly slowing — and aging — economy. The world’s second-largest economy reported just 3 percent GDP growth in the fourth quarter, a number that’s the lowest in decades besides the first year of the pandemic. And, this week’s World Economic Forum summit in Davos, Switzerland is underway and tackling global issues in an age of increasing fractiousness among world powers. 

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• Jan 17, 2023

  Davos kicks off amid a wave of global crises

  

  The annual meeting of the World Economic Forum kicked off this week in Davos, Switzerland, bringing together a collection of the world’s most powerful people to discuss a range of global issues. On the agenda for participants will be problems like climate change, geopolitical fragmentation, and even a question of the summit’s own relevance. Zanny Minton Beddoes, the Editor-in-chief of The Economist, gives her view on the ground in Davos. Electric vehicle sales accounted for 10 percent of all new global car sales in 2022, another indication of the EV industry’s meteoric rise. And, Walmart and Salesforce announced a partnership to improve deliveries and other logistical aspects of the retail giant’s business. 

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• Jan 17, 2023

  China’s population falls for the first time in 60 years

  

  From the BBC World Service: Chinese officials say the country has entered an “era of negative population growth”. We examine what a decreasing workforce and a growing elderly population means for China’s economic future. Meanwhile India is guzzling Russian oil at a record rate.  Plus, we ask why is the cost of a box of eggs soaring around the world?

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• Jan 16, 2023

  What do bank and Netflix earnings say about the economy?

  

  It’s that time of the year again: earnings season. Publicly traded companies across the economy are reporting their fourth-quarter results, and they so far portray a mixed picture of the economy. Michael Hewson, Chief Market Analyst at the London-based CMC Markets, tells us what he’s looking at, including reports from banks and Netflix. Bank earnings that have come out so far have shown increased caution at those financial institutions, which boosted their rainy day reserves in anticipation of increased financial malaise. And, what the CEO of energy giant Equinor has to say about the future of household energy. 

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• Jan 16, 2023

  Wages aren’t keeping up with inflation, hitting low-income workers the hardest

  

  Wages aren’t keeping up with increasing prices, according to new data on wage growth. That’s meaning economic hardship across the board, especially in low-income households that have costs for essentials skyrocket. That disparity between wages and prices is also affecting workers of color more, due to having lower savings rates and fewer liquid assets on average. And, Mexico has passed a new ban on smoking in all public places. 

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• Jan 16, 2023

  High energy bills are here to stay

  

  From the BBC World Service: The boss of one of the world’s biggest energy firms, Equinor, is warning households not to expect energy bills to return to pre-pandemic prices. Anders Opedal was speaking to the BBC as he headed to the World Economic Forum in Davos, which starts today. Meanwhile Mexico has banned smoking in all public places, giving it some of the toughest rules in the world. Plus there are complaints about price rises in Croatia, just over two weeks after it adopted the Euro as currency.

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• Jan 13, 2023

  Largest-ever settlement reached over mortgage redlining

  

  Yesterday, the Department of Justice reached a settlement with the California-based City National Bank over accusations of mortgage “redlining” in Latino and Black neighborhoods in Los Angeles County. The settlement is the largest in U.S. history, clocking in at $31 million. The storm in California is helping the drought situation, but there’s now talk of improving the state’s stormwater storage system. And, the BBC’s Ben Chu reports on the dire economic and political situation in Sri Lanka. 

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