By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The U.S. is “no longer an overheated economy” with a job market that has cooled from its pandemic-era extremes and in many ways is back where it was before the health crisis, Fed Chair Jerome Powell said in remarks to Congress that suggested the case for interest …
US economy no longer overheated, Fed’s Powell tells Congress Read More »
By Yoruk Bahceli and Samuel Indyk (Reuters) -A shock election win for France’s leftist alliance has reinforced wariness among investors who had already braced for the risk of political deadlock and a policy paralysis that’s unlikely to improve the country’s creaking public finances. The left-wing New Popular Front (NFP) alliance won the most seats in …
Shock French left election win is little solace for nervous investors Read More »
SAN FRANCISCO (Reuters) – A surge in the U.S. labor force in recent years may have driven up the number of new jobs needed to avoid a rise in the unemployment rate to around 230,000 a month, according to research published Monday by the San Francisco Federal Reserve Bank. That elevated “breakeven” rate is likely …
U.S. ‘breakeven’ monthly job growth may be 230,000: SF Fed paper Read More »
(Reuters) – Peru’s government said on Saturday that it would receive a credit of up to 300 million euros ($325.08 million) from the German bank KfW Development Bank to spend on a digital transformation program. The credit is for 15 years and will be charged a 6-month Euribor rate, plus a fixed margin, according to …
Peru gets 300 million euros credit from German bank KfW for digital transformation Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment increased solidly in June, but government and healthcare services hiring made up about three-quarters of the payrolls gain and the unemployment rate hit a 2-1/2-year high of 4.1%, pointing to a slackening labor market that keeps the Federal Reserve on course to start cutting interest rates soon. …
US labor market losing steam as unemployment rate climbs to 4.1% Read More »
BUENOS AIRES (Reuters) – Beef-loving Argentines are cutting back on their steaks as the country’s economy slumps, meaning cattle consumption will likely hit a record low this year, a market report published on Friday showed. Argentina’s beef consumption in 2024 is expected to total around 44.8 kg (98.77 lb), the lowest since record-keeping began in …
Argentines’ beef consumption seen at record low in 2024 Read More »
By Promit Mukherjee and Ismail Shakil OTTAWA (Reuters) -Canada’s unemployment rate rose to a 29-month high of 6.4%, data showed on Friday, highlighting that people might be losing jobs as the labor market struggles to absorb a rapidly swelling population. The jobs report, which also showed that youth unemployment reached almost a decade high barring …
Canada’s rising jobless rate pushes case for July rate cut Read More »
(Reuters) – Federal Reserve Chair Jerome Powell’s testimony and U.S. inflation data top the agenda in the week to come, with U.S. banks reporting earnings and rate decisions due in New Zealand and South Korea. Meanwhile, the tectonic plates of politics continue shifting, with France’s Sunday election following hot on the heels of the UK …
By Fergal Smith TORONTO (Reuters) – Canada’s services economy moved back into contraction in June as a decline in new business weighed on the sector’s performance even as inflation pressures cooled, S&P Global Canada services PMI data showed on Thursday. The headline business activity index fell to 47.1 from 51.1 in May, posting its lowest …
Canada’s services PMI falls to three-month low in June Read More »
By Steven Scheer JERUSALEM (Reuters) – The Bank of Israel will hold the line on short-term interest rates for a fourth straight meeting next week and perhaps until 2025 because of the war in Gaza, sticky inflation and a widening risk premium, a Reuters poll showed. All 15 economists polled said they expected the central …
Bank of Israel firmly on hold next week, possibly until 2025: Reuters poll Read More »
