French nationwide strike to extend as pension reform fight intensifies
Protests against plans to raise pension age to 64Majority of voters reject reformGovernment, unions determined to stand their groundPARIS, March 7 (Reuters) – France’s nationwide strike against a planned pension reform, which disrupted train services, shut schools and halted fuel deliveries, will spill into Wednesday as unions seek to force a government retreat on the […]
Fed “acutely aware” of trouble inflation is causing – report
WASHINGTON, March 3 (Reuters) – The U.S. Federal Reserve is “acutely aware” of the challenges high inflation poses to the economy and is “strongly committed” to its 2% target for price increases, the central bank said on Friday in its latest semiannual report to Congress on monetary policy and the economy.While largely a backward-looking summary […]
Wall St gets respite from positive data, dollar pullback
Stocks edge up, bond yields retreatDollar pulls back after biggest weekly rally since SeptemberHigher peak seen for Fed ratesPositive U.S. manufacturing, home sales dataFeb 27 (Reuters) – Wall Street and global shares rebounded modestly on Monday on favorable economic data and bargain hunting, but remained within sight of recent six-week lows, as investors prepared for […]
Wells Fargo lays off mortgage bankers – CNBC
Feb 22 (Reuters) – Wells Fargo & Co (WFC.N) laid off hundreds of mortgage bankers this week as part of its recent strategic shift, CNBC reported on Wednesday, citing people with knowledge of the matter.The layoffs affected top producers, including bankers who exceeded $100 million in loan volumes last year and some who attended an […]
Japan’s weak Q4 GDP rebound poses challenge for BOJ’s exit path
Japan Q4 GDP expands annualised 0.6% vs f’cast +2.0%Drop in capex, inventory behind weaker-than-expected reboundData underscore view Japan making delayed recovery from pandemicOutlook on growth, wages key to how soon BOJ exits easy policyTOKYO, Feb 14 (Reuters) – Japan’s economy averted recession but rebounded much less than expected in the fourth quarter as business investment […]
United States tells citizens: Leave Russia immediately
MOSCOW, Feb 13 (Reuters) – The United States has told its citizens to leave Russia immediately due to the war in Ukraine and the risk of arbitrary arrest or harassment by Russian law enforcement agencies.”U.S. citizens residing or travelling in Russia should depart immediately,” the U.S. embassy in Moscow said. “Exercise increased caution due to […]
In State of the Union speech, Biden challenges Republicans on debt and economy
WASHINGTON, Feb 7 (Reuters) – President Joe Biden challenged Republicans to lift the U.S. debt ceiling and support tax policies that were friendlier to middle class Americans on Tuesday in a State of the Union speech that served as a blueprint for his 2024 re-election campaign.Assailing oil companies for making high profits and corporate America […]
Global shares slide as interest-rate risk rises and geopolitics heat up
U.S. stock futures slip, European shares dropYen skids as market eyes possible BOJ governorInvestors ponder U.S. rates with host of Fed speakers dueLONDON, Feb 6 (Reuters) – Global shares slipped on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger […]
Russians bought record number of gold bars in 2022, data shows
This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.MOSCOW, Feb 3 (Reuters) – Russians bought an all-time record number of gold bars in 2022, finance ministry data showed on Friday, as tax cuts on precious metals encouraged people to stock up on bullion as a safe asset.Moscow […]
Fed’s Powell says no rate cuts this year, and markets hear it differently
Feb 2 (Reuters) – Federal Reserve Chair Jerome Powell had a clear message on Wednesday: as “gratifying” as it is that inflation has begun to slow, the central bank is nowhere near to reversing course or declaring victory.”It’s going to take some time” for disinflation to spread through the economy, Powell said in a news […]