OTTAWA, April 16 (Reuters) – The Bank of Canada released the following statement on Wednesday: “The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. “The major shift in direction of US trade policy and the unpredictability of tariffs …
FULL TEXT- Bank of Canada holds key policy rate at 2.75% Read More »
(Reuters) – Insurer Progressive reported a 10% jump in first-quarter profit on Wednesday, helped by resilient demand for its auto insurance policies. Shares of the Mayfield Village, Ohio-based company rose 1.8% to $281 before the bell. Rising wages and low unemployment in the reported quarter helped sustain customer spending on auto insurance, one of Progressive’s …
Progressive’s quarterly profit jumps on robust auto insurance demand Read More »
(Reuters) – The interest rate for the most popular U.S. home loan jumped to 6.81% last week, its highest level in two months, following a turbulent week for financial markets as President Donald Trump pressed on with a deepening trade war. The average contract rate on a 30-year fixed-rate mortgage rose 20 basis points in …
US 30-year mortgage rate jumped last week to 2-month high Read More »
By Nathan Vifflin and Leo Marchandon (Reuters) -ASML, the world’s biggest supplier of computer chip-making equipment, said on Wednesday that tariffs were increasing uncertainty around its outlook for 2025 and 2026, but stood by its annual guidance as the race for AI rages on. CEO Christophe Fouquet said his conversations with customers supported ASML’s expectations …
ASML warns tariffs cloud outlook for 2025 and 2026 Read More »
By Mike Dolan LONDON (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets The escalating U.S.-China trade war has expanded and moved beyond tariffs, now hitting everything from chips to planes and pharma. The tensions upended the week’s fragile market stability while hitting the dollar …
Morning Bid: US-China trade war goes full throttle Read More »
By Dawn Chmielewski and Harshita Mary Varghese Los Angeles (Reuters) – Wall Street analysts offered a gloomy view of the first quarter for much of Hollywood, warning that economic uncertainty caused by President Donald Trump’s erratic tariff plans has undermined consumer confidence and heightened fears of a recession. The threat of an economic downturn would …
Tariffs, recession fears cast pall over US media earnings Read More »
By Ann Saphir and Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve officials, in agreement that President Donald Trump’s tariffs have unmoored their sense of the economy’s direction, may face an intense internal debate about the right monetary policy response, including balancing any conflicts between their inflation and employment goals. In the weeks since Trump …
In a fog of uncertainty, Fed policy storm could be approaching Read More »
BEIJING (Reuters) -Chinese automaker SAIC’s new electric vehicle brand co-developed with technology conglomerate Huawei has been named Shangjie, with the first model to be launched in the autumn, Huawei’s consumer business chairman Richard Yu said on Wednesday. SAIC and Huawei are cooperating on issues including styling design, intelligent cockpit and smart driving technology, manufacturing, and …
SAIC’s new EV brand co-developed with Huawei to launch first model this autumn Read More »
(Reuters) -ANZ raised its year-end gold price forecast to $3,600 per ounce and its six-month forecast to $3,500 from $3,200 earlier, the bank said in a note on Wednesday. “Increasing risks of a deeper recession, another turn in the geopolitical landscape, disruptions in global supply chains, fears of rising inflation along with a changing rate …
ANZ raises year-end gold forecast to $3,600 per ounce Read More »
By Kevin Yao and Yukun Zhang BEIJING (Reuters) -China’s first-quarter economic growth outstripped expectations, underpinned by solid consumption and industrial output, but analysts fear momentum could shift sharply lower as U.S. tariffs pose the biggest risk to the Asian powerhouse in decades. President Donald Trump has ratcheted up tariffs on Chinese goods to eye-watering levels, …
China Q1 GDP growth tops expectations, but US tariff shock looms large Read More »
