Reuters US Economy

Canadian housing starts rise more than expected in November

16 Dec 2024

OTTAWA (Reuters) – Canadian housing starts rose 8% in November, beating market expectations, driven primarily by multi-unit starts in Quebec, Alberta and British Columbia, data from the national housing agency showed on Monday. The seasonally adjusted annualized rate of housing starts rose to 262,443 units from an upwardly revised 242,207 units in October, the Canadian …

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As Bolivia’s big state economic model slowly implodes, fear of ‘total crisis’

16 Dec 2024

By Monica Machicao LA PAZ (Reuters) – Housewife Yola Chura worried about high food prices while shopping at a market in Bolivia’s highland city of El Alto, where she and many others are struggling with rising prices, stagnant wages and a scarcity of dollars that has put the long-stable Andean economy on edge. “We are …

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Take Five: The last mile

16 Dec 2024

LONDON (Reuters) -The end of the year is almost in sight for traders, yet the last mile will be anything but slow. Central banks in the United States, Japan and Britain meet, while Germany holds a vote of no confidence in the government. Here’s all you need to know about the coming week in world …

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EM has no easy escape from dollar squeeze: McGeever

16 Dec 2024

By Jamie McGeever ORLANDO, Florida (Reuters) -A strong U.S. dollar and high Treasury yields are posing significant challenges for emerging economies, and policymakers have no easy way to counter this powerful one-two punch.     With American exceptionalism casting a shadow over the rest of the world, many emerging markets (EM) are facing weaker currencies, increased costs …

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Indonesia books $4.4 billion trade surplus in Nov, beating forecast

16 Dec 2024

JAKARTA (Reuters) -Indonesia posted an unexpectedly large $4.42 billion trade surplus in November, double the figure expected by analysts as exports jumped and imports came in below market forecasts, official data showed on Monday. The trade data is among a host of economic indicators the central bank will consider at its monetary policy review on …

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Australia’s central bank gets banker, economist to rate-setting board

16 Dec 2024

By Stella Qiu SYDNEY (Reuters) – Australian Treasurer Jim Chalmers on Monday announced two new members to the central bank’s rate-setting board, with the majority of board members staying in a bid to ensure policy continuity. Long-delayed reforms to the Reserve Bank of Australia (RBA) passed parliament last month, which will allow the government to …

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Bleak times for copper smelters as conversion fees slump: Andy Home

16 Dec 2024

By Andy Home LONDON (Reuters) -An unprecedented collapse in conversion fees spells hard times for the global copper smelting sector.  The benchmark smelter treatment charges for next year have been set by Chilean copper miner Antofagasta and China’s Jiangxi Copper. Smelters such as Jiangxi will receive just $21.50 per metric ton and 2.125 cents per …

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Israel’s inflation slips to 4-month low of 3.4% in November

15 Dec 2024

By Steven Scheer JERUSALEM (Reuters) – Israel’s inflation dipped in November, data from the Central Bureau of Statistics showed on Sunday, but staying above target and likely not enough to push policymakers to reduce interest rates anytime soon. The annual inflation rate fell to 3.4% last month, its lowest level since July, from 3.5% in …

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Israel Aerospace ready for IPO, awaits government approval, CEO says

15 Dec 2024

By Steven Scheer JERUSALEM (Reuters) – State-run Israel Aerospace Industries is ready for an initial public offering in Tel Aviv but awaits the go-ahead from the government, IAI chief executive Boaz Levy said on Sunday. A ministerial privatisation committee in November 2020 had approved a plan where Israel could sell up to 49% of IAI, …

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