Reuters US Economy

By Lindsay Dunsmuir (Reuters) -U.S. economic activity expanded more slowly from the middle of July through late August and businesses pulled back on hiring, signals that underscore why the Federal Reserve is set to begin to lower interest rates later this month. The U.S. central bank’s latest temperature check on the health of the economy …

US firms see weaker employment growth as economy slows, Fed survey shows Read More »

WASHINGTON (Reuters) – Democratic presidential nominee Kamala Harris is planning to propose a less drastic increase in the top capital gains tax rate, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The move, if taken by Harris, would break with a plan outlined by President Joe Biden in his budget …

Harris to pare back Biden’s capital-gains tax proposal, WSJ reports Read More »

By Philip Blenkinsop BRUSSELS (Reuters) – The European Union is falling behind global rivals due to limited innovation, high energy prices and skills gaps, former European Central Bank chief Mario Draghi told policymakers on Wednesday ahead of his much-anticipated report on the topic. The European Commission asked Draghi a year ago to write a report …

Draghi says EU is falling behind its rivals in competitiveness Read More »

By Nell Mackenzie and Carolina Mandl LONDON (Reuters) -Global hedge funds posted positive returns in August even as the unwind in popular yen carry trades whipsawed markets, according to bank research and sources familiar with the funds’ performance on Wednesday. Hedge funds posted an average 1.3% return for the month, JPMorgan said in a prime …

Hedge funds held gains in August market rollercoaster Read More »

By Maria Martinez BERLIN (Reuters) – Growth in Germany’s services sector slowed for a third consecutive month in August, a survey showed on Wednesday, in a further sign that Europe’s biggest economy is losing steam. The HCOB final services Purchasing Managers’ Index eased to 51.2 from 52.5 in July. Although slightly below a preliminary estimate …

Growth in German services sector loses momentum in August, PMI shows Read More »

ROME (Reuters) – Italy’s services sector expanded in August but at a slower pace than the previous month, a survey showed on Wednesday, amid a decline in new business in the euro zone’s third-largest economy. The HCOB Purchasing Managers’ Index for Italian services came in at 51.4 in August, slightly down from 51.7 in July …

Italy’s service sector growth slows in August, PMI shows Read More »

PARIS (Reuters) – France’s services sector experienced its most robust expansion in over two years in August, boosted by the Olympics and a modest rise in demand, a business survey showed on Wednesday. The HCOB France Services PMI Index jumped to 55.0 in August from 50.1 in July, marking the largest upswing in over three …

French services sector sees strongest growth since May 2022, PMI shows Read More »

(Reuters) – Activity across Russia’s services sector grew at its fastest pace in seven months in August, a business survey showed on Wednesday, boosted by a sharp expansion in new export business. The S&P Global Purchasing Managers’ Index for Russian services rose to 52.3 in August from 51.1 in July, moving further above the 50 …

New export business boosts Russia’s service sector in August, PMI shows Read More »

BRASILIA (Reuters) – A Senate committee hearing to confirm President Luiz Inacio Lula da Silva’s pick to head Brazil’s central bank will not happen before the monetary authority’s next interest rate-setting meeting this month and is likely to be pushed until October. Lula in late August appointed the central bank’s monetary policy director, Gabriel Galipolo, …

Brazil Senate rules out Galipolo’s confirmation before next cenbank meeting Read More »

(Reuters) – U.S. housing inflation is likely to ease in the coming year as the gap between supply and demand for homes narrows, according to research published on Tuesday by the Federal Reserve Bank of San Francisco. That decline will likely add to downward pressure on inflation, the researchers said in the regional Fed bank’s …

US housing inflation likely to fall in year ahead, Fed paper says Read More »