Reuters US Economy

By Carolina Mandl NEW YORK (Reuters) – Computer-driven macro hedge fund strategies on Wednesday sold $20 billion in equities and are set to shed at least more $25 billion over the next week after the stock rout, in one of the largest risk-unwinding events in a decade, Morgan Stanley said in commentary to institutional clients …

Macro hedge funds to dump $45 billion in equities, says Morgan Stanley Read More »

(Reuters) – Insurance broker WTW posted a 20% rise in its second-quarter profit on Thursday, helped by a strong performance in its risk and brokerage business. The company also raised the lower end of its forecast range for annual profit. It expects 2024 adjusted earnings per share between $16 and $17 compared with the prior …

Insurance broker WTW posts higher Q2 profit on robust product demand Read More »

By Promit Mukherjee and Fergal Smith OTTAWA (Reuters) – The Bank of Canada is shifting its focus to boosting the economy rather than suppressing inflation, which raises prospects of further interest rate cuts in the coming months, analysts say. The Canadian central bank lowered its benchmark rate for a second straight month on Wednesday, cutting …

Bank of Canada pivots to boosting economic growth, raising rate cut bets Read More »

By David Lawder RIO DE JANEIRO (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday that Vice President Kamala Harris shares President Joe Biden’s core values on global and economic issues and would maintain U.S. international leadership if she were elected to succeed him. In her first public remarks on the issue since Biden ended …

Yellen says Harris would maintain US leadership on global issues Read More »

By Makailah Gause NEW YORK (Reuters) – The average rate on the popular U.S. 30-year fixed-rate mortgage edged up to 6.78% for the week ending July 25, leaving it about half a percentage point below its peak earlier this year, as buyers still show signs of hesitancy to enter the market. That was up slightly …

US 30-year fixed-rate mortgage edges up to 6.78%, Freddie Mac says Read More »

JAKARTA (Reuters) – Indonesia launched a long-term visa scheme on Thursday intended to attract foreign investors, President Joko Widodo said, with amounts of up to $10 million giving them a 10-year visa and access to Southeast Asia’s largest economy. The five-year “Golden Visa” requires individual investors to set up a company worth $2.5 million, while …

Indonesia launches ‘Golden Visa’ to lure foreign investors, boost economy Read More »

BEIJING/SHANGHAI (Reuters) -Five of China’s major state-owned banks on Thursday cut deposit rates to cushion a hit to their already record low margins after this week’s surprise lowering of lending benchmarks to bolster stuttering economic growth. Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, China Construction Bank, Bank of China and Bank …

Chinese banks cut deposit rates to relieve squeezed margins Read More »

By Christian Kraemer BERLIN (Reuters) -Germany’s cabinet agreed on Wednesday to increase tax relief for companies and households to almost 21 billion euros per year to help bolster stuttering growth in Europe’s biggest economy. Germany was the worst performing major economy last year, with gross domestic product contracting by 0.3%. It skirted a recession at …

German cabinet agrees to expand tax relief to boost economy Read More »

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed in June for the first time this year amid a broad rebound in exports, but that probably was insufficient to prevent trade from remaining a drag on economic growth in the second quarter. The impact on gross domestic product from the trade …

US goods trade deficit shrinks; new home sales extend decline Read More »