By Andrea Mandala CALTANISSETTA, Italy (Reuters) – A drought on the Italian island of Sicily has become so severe that many residents of the city of Caltanissetta have been without running water for two months, leading to handsome profits for unauthorised private sellers. In a situation more readily associated with a developing country than an …
Water profiteers thrive in Sicily as drought intensifies Read More »
BERLIN (Reuters) -The German economy shrank by 0.1% in the second quarter of 2024 compared with the previous three-month period, the statistics office reported on Tuesday, confirming preliminary data. “After the slight increase in the previous quarter, the German economy cooled down again in spring,” statistics office president Ruth Brand said in a statement. In …
German economy shrank by 0.1% in Q2, statistics office confirms Read More »
BERLIN (Reuters) – German consumer sentiment is set to tumble going into September as slightly rising unemployment, job cuts and insolvency’s drive down income expectations, pushing back hopes of a stable economic recovery, a survey showed on Tuesday. The consumer sentiment index, published by GfK and the Nuremberg Institute for Market Decisions (NIM), fell to …
Job concerns weigh on German consumer sentiment in September, finds GfK Read More »
By Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Monday said “the time is upon us” to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank’s Sept. 17-18 policy meeting, …
Fed most likely to cut rates by quarter percentage point next month, Daly says Read More »
By Lewis Krauskopf (Reuters) – With interest rate cuts virtually locked in, investors are ramping up their focus on economic data over the next few months as they game out whether the “soft landing” narrative that has helped drive U.S. stocks in 2024 can continue. Federal Reserve Chair Jerome Powell on Friday said the “time …
By Howard Schneider JACKSON HOLE, Wyoming (Reuters) -In 2022, when the Federal Reserve’s focus shifted to combating inflation, it had to ratchet up interest rates fast to get monetary policy caught up with fast-rising prices. Two years later, the focus has changed again – this time to protecting the job market, as outlined in Fed …
With Fed’s shift to job market risks done, policy now has to catch up Read More »
ZURICH (Reuters) -The gap between the highest- and lowest-paid workers in Switzerland widened in 2023, with top managers earning on average 143 times more than their lowest-paid employees, according to a study published by trade union Unia on Monday. The pay gap was up from 139 times in 2022, the study said, with the country’s …
Pay gap between bosses and ordinary workers widens in Switzerland Read More »
By Lucia Mutikani WASHINGTON (Reuters) -New orders for key U.S.-manufactured capital goods unexpectedly fell in July and data for the prior month was revised lower, suggesting a loss of momentum in business spending on equipment that extended into the early part of the third quarter. Non-defense capital goods orders excluding aircraft, a closely watched proxy …
US business spending on equipment shows signs of cooling in July Read More »
LONDON (Reuters) -The latest earnings from AI darling Nvidia and key inflation numbers in the euro area and Australia should keep markets busy in the coming week. Gold’s relentless climb to record highs and a dollar under pressure as U.S. rate cut speculation builds are also in investors’ sights. Here’s your guide to the week …
A look at the day ahead in European and global markets from Wayne Cole. Asia has seen an extension of the Powell rally so far on Monday with yields and the dollar down, and most stocks edging higher. The major exception being the Nikkei, which really doesn’t appreciate the yen’s climb through 144.00 per dollar. …
Morning Bid: Markets reassured by the Powell put Read More »
