November 12, 2024
United States:
US Online Food Prices Post First Year-on-Year Drop Since Covid
Online grocery prices declined in October from a year earlier, the first such drop since the arrival of Covid more than four years ago.
Food costs fell 0.1% from the same period of 2023, according to data from Adobe that’s based on about 1 trillion visits to retail sites and more than 100 million products purchased. The last time they posted an annual decline was in January 2020.
Europe:
ECB Is Set to Step Up Focus on Geopolitical Risks at Banks
The European Central Bank plans to demand more information from banks about their exposure to geopolitical risks as supervision head Claudia Buch puts her stamp on the institution.
The ECB is poised to formally elevate next month the importance of potential hits from political events including wars in its annual list of banking supervisory priorities for the coming years, according to people familiar with the matter.
Asia:
China Plans to Slash Homebuying Taxes in Fiscal Stimulus
China is planning to cut taxes for home purchases as the government dials up fiscal support to revive a moribund housing market, according to people familiar with the matter.
Regulators are working on a proposal that would allow mega cities including Shanghai and Beijing to cut the deed tax for buyers to as low as 1% from a current level of as much as 3%, the people said, requesting not to be identified because the matter is private.
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