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Fed’s Powell met with more lawmakers as renomination hung in the balance

3 Dec 2021

(Reuters) – U.S. Federal Reserve Chair Jerome Powell met with more lawmakers in October than in any month since February, his calendar published Friday showed, as President Joe Biden weighed whether to ask senators to approve Powell’s renomination or pick someone else to lead the central bank. Powell’s 16 chats with lawmakers that month included …

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Faster Fed taper, earlier rate hikes in sight as unemployment falls

3 Dec 2021

By Ann Saphir (Reuters) – Federal Reserve policymakers look likely to accelerate the winddown of their bond-buying program when they meet later this month as they respond to a tightening labor market and move to open the door to earlier rate hikes than they had projected. U.S. employers added 210,000 jobs last month, a U.S. …

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U.S. labor market tightening despite moderate November job gains

3 Dec 2021

By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment growth slowed considerably in November amid job losses at retailers and in local government education, but the unemployment rate plunged to a 21-month low of 4.2%, suggesting the labor market was rapidly tightening. The four-tenths-of-a-percentage-point drop in the jobless rate from October reported by the Labor Department …

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Cathie Wood’s ARK Innovation fund hits 13-month low in tech selloff

3 Dec 2021

By David Randall NEW YORK (Reuters) – Star stock picker Cathie Wood’s ARK Innovation ETF tumbled more than 7% and hit its lowest level since November 2020 on Friday as bets on a more aggressive Federal Reserve pushed investors to sell the high-growth, high-valuation stocks that rallied during the early stages of the pandemic. The …

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Canada still has time to act before U.S. vote on disputed EV tax credit – trade min

3 Dec 2021

By David Ljunggren OTTAWA (Reuters) – Canada still has some room for maneuver before the U.S. Senate votes on a proposed electric-vehicle tax credit for American manufacturers, a measure Ottawa opposes, Trade Minister Mary Ng said on Friday. Ng, speaking by phone from Washington after three days of lobbying against the measures, reiterated that Canada …

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U.S. government could miss payments as soon as Dec. 21 – think tank

3 Dec 2021

By Jason Lange WASHINGTON (Reuters) – A bipartisan think tank warned on Friday the U.S. government could start missing payments on its bills as soon as Dec. 21 if Congress fails to raise the debt limit, as top Democrats and Republicans sought a path around such a financial calamity. The Bipartisan Policy Center’s projection, based …

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Where’s the paper, ink, lightbulbs? U.S. offices struggle with supply shortages

3 Dec 2021

By Elizabeth Dilts Marshall and Maria Caspani NEW YORK(Reuters) – While news of the Omicron coronavirus variant threatens to derail U.S. companies’ return-to-office-plans, employers trying to get workers back into offices said they are encountering a different, unforeseen challenge: keeping the lights on. The disruptions to the global supply chain caused by factory shutdowns in …

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Juventus say prosecutors looking into terms of Ronaldo sale

3 Dec 2021

By Elvira Pollina and Emilio Parodi MILAN (Reuters) -Juventus said Italian prosecutors had ordered a new search of its offices under an investigation into the Serie A club’s financial accounting and were also examining the terms of the sale of star player Cristiano Ronaldo to Manchester United. Publishing a supplement to an investor document for …

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Notable quotes from the Reuters Next conference

3 Dec 2021

(Reuters) – Reuters Next is hosting three days of interviews, panels and presentations with 150+ global leaders discussing the biggest business, social and environmental challenges for the year ahead. Following are some notable quotes from the conference which ends later on Friday. To watch the Reuters Next conference please register here https://reutersevents.com/events/next CHRISTINE LAGARDE, EUROPEAN CENTRAL …

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Canadian, U.S. truckers warn vaccine mandates will disrupt supply chains

3 Dec 2021

By Steve Scherer and David Shepardson OTTAWA/WASHINGTON (Reuters) – The main trucking lobbies in Canada and the United States are warning that vaccine and testing requirements for workers will further disrupt supply chains because there is already a dire shortage of drivers. Canada will require vaccines for truck drivers starting in January, while the Biden …

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