A look at the day ahead in U.S. and global markets from Dhara Ranasinghe. The relief across world markets as signs of a softening in the U.S. jobs markets strengthens the case for Federal Reserve rate cuts to start later this year remains palpable. Not only did U.S. 10-year Treasury yields end Friday down 17 …
(Reuters) – U.S. Vice President Kamala Harris on Monday announced more than $100 million in funding and resources to support American auto workers and small auto suppliers. Historic contracts secured by the United Auto Workers with the Big Three Detroit automakers and recent organizing victories ensure that these jobs will provide comparable wages, retirement security …
VP Harris announces more than $100 million to support auto workers Read More »
By Georgina McCartney HOUSTON (Reuters) – As Big Oil returns this week to the industry’s annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the spotlight. Offshore exploration had dimmed after the U.S. shale boom ushered in new and cheaper-to-tap supplies of …
Big Oil finds more to love in deepwater exploration fields Read More »
SYDNEY (Reuters) – Global economic weakness and a slowing domestic economy were among the reasons Australia will report a smaller revenue increase in its federal budget for the year ended June 30 compared to recent years, the government said on Sunday. The Labor government is expected to report a budget surplus on May 14, although …
Slowing global economy to mean smaller revenue bump in Australian budget Read More »
NEW YORK (Reuters) -Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending. “I think higher taxes are likely,” he said on Saturday at Berkshire Hathaway’s annual shareholder meeting in Omaha. “They may decide that some day they don’t want the fiscal deficit to be …
Warren Buffett says taxes may rise to offset widening US deficits Read More »
By Jonathan Stempel OMAHA, Nebraska (Reuters) – Two years ago, Warren Buffett branded Berkshire Hathaway’s energy business one of his conglomerate’s four “giants.” Now he fears its business model may be broken. Berkshire Hathaway Energy’s PacifiCorp unit faces billions of dollars in potential liabilities from wildfires that have scorched hundreds of thousands of acres in …
Analysis-Warren Buffett’s PacifiCorp utility singed by wildfires Read More »
By Ann Saphir PALO ALTO, California (Reuters) -The U.S. central bank’s 2% target for inflation is key to achieving price stability and essential for ensuring economic prosperity, New York Federal Reserve Bank President John Williams said on Friday. His defense of the inflation target comes amid persistent calls from some corners for the Fed to …
Fed’s Williams says 2% inflation target ‘critical’ Read More »
PALO ALTO, California (Reuters) – The U.S. Federal Reserve should beef up its quarterly “dot plot” of policymakers’ interest-rate-path views by including the individual economic expectations that inform each one, Austan Goolsbee, president of the Chicago Fed, said on Friday. The dot plot, published every three months since 2012, is a graph depicting where each …
Fed’s Goolsbee: US rate-path ‘dot plot’ needs more context Read More »
By Stephen Culp NEW YORK (Reuters) -Wall Street surged to a higher close on Friday as a softer-than-expected employment report bolstered the case for rate cuts from the Federal Reserve while also providing evidence of U.S. economic resilience. All three major U.S. stock posted robust gains. The tech-heavy Nasdaq led the pack, rising 2% with …
Wall St ends sharply higher, jobs data strengthens case for rate cuts Read More »
By Jonathan Stempel and Koh Gui Qing OMAHA, Nebraska (Reuters) – Warren Buffett takes center stage in Omaha for Berkshire Hathaway’s annual shareholder meeting on Saturday, as investors size up his expected successor and get a better sense of how the conglomerate plans to grow and deploy cash. The meeting is Buffett’s 60th since he …
