Weekly news summary for April 8 to April 13
Friday, Apr. 8: Chile March Inflation Hits Highest Level Since 1993
Chile’s inflation hit its highest level since 1993 in March, further stressing the importance of easing high consumer prices that has been intensified by growing costs in commodities worldwide.
The country’s consumer price index (CPI) soared to 1.9% in the previous month, its highest monthly surge in nearly 30 years, following Brazil’s March inflation reading of 1.62%, which was the highest in 28 years and Peru’s consumer prices that reached their highest in a quarter of a century.
Monday, Apr. 11: Musk May Invest More in Twitter as He Avoids Board
Tesla Inc. Chief Executive Elon Musk may purchase more stock in Twitter Inc. after turning down a board seat offer from the social media giant.
Not joining Twitter’s board means Musk is not required to maintain his stake in the company under 14.9%, although he has no current plans to buy additional shares, and if he is seeking a complete takeover, he can bid for Twitter and present the offer directly to shareholders.
Tuesday, Apr. 12: US CPI Rises to 40-Year High in March
US inflation showed no signs of easing as consumer prices rose to a 40-year high in March, as the world’s largest economy continues to observe higher gas prices due to strict restrictions on Russian oil imports in response to the Ukraine war.
Data from the Labor Department showed that the US’s March consumer price index (CPI) was up 8.5% from 2021, the highest level since 1981, while core CPI that excludes food and energy surged to 6.5% over a 12-month period.
Wednesday, Apr. 13: Asian Stocks Rise on Less Severe US Inflation Data
Asian stocks and US futures soared on Wednesday as US inflation data turned out less high than markets expected, although sentiment was kept in check by higher prices in oil and other commodities after Russian President Vladimir Putin said peace talks with Ukraine resulted in a dead-end once again.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.73% to $578.02, while S&P 500 futures rose 0.67% and Nasdaq futures were up 0.65% in Asia, but Putin’s comments pushed the EURO STOXX 50 futures down at 0.2% and the euro at a five-week low.