Reuters US Economy

By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes dropped to a six-month low in May as a jump in mortgage rates weighed on demand, offering more evidence that the housing market recovery was faltering. But the sting from the largest decline in sales in more than 1-1/2 years, reported by the …

US new home sales slump; supply at more than 16-year high Read More »

By Mike Dolan LONDON (Reuters) – Thanks in part to former UK Prime Minister Liz Truss’ singular contribution to financial stability two years ago, Britain is proving something of an exception among major economies heading for elections this year – there’s little or no fiscal or financial controversy. And perhaps the Truss episode is even …

Column-Out of step again, uncontroversial UK govt switch sows relief :Mike Dolan Read More »

(Reuters) – U.S. companies borrowed 11% more to finance equipment investments in May compared to a year ago, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday. Companies signed up for new loans, leases and lines of credit worth $10.2 billion in May, down 7% from a month ago. “The drop in volume …

US business equipment borrowings up 11% in May, ELFA says Read More »

By Tom Hals WILMINGTON, Delaware (Reuters) – Delaware is poised to adopt changes to its widely used corporate law that critics argue could weaken U.S. boards of directors in favor of influential investors such as private-equity firms. State lawmakers last week approved a bill that gives a corporation the authority to enter into contracts with …

Delaware law to allow big investors greater sway over US corporate boards Read More »

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Governor Lisa Cook said on Tuesday the U.S. central bank is on track for a rate cut if the economy’s performance meets her expectations, but she declined to say when the Fed will be able to act. “Our current policy is well positioned to respond as …

Fed’s Cook: ‘At some point’ it will be time to cut interest rates Read More »

NEW YORK (Reuters) – Prominent investment manager Boaz Weinstein on Tuesday said uncertainty about November’s U.S. presidential election may lead to market volatility but also said President Joe Biden is “better” for the bond market. Weinstein, who runs Saba Capital Management, was speaking at Bloomberg Invest in New York and was asked to look ahead …

Saba’s Weinstein says US President Biden would be ‘better’ for bond market Read More »

SAN FRANCISCO (Reuters) – The Federal Reserve must “exhibit care” as it aims to finish the job of bringing inflation under control, San Francisco Fed President Mary Daly said on Monday, noting that rising unemployment is increasingly a risk. “We must continue the work of fully restoring price stability without a painful disruption to the …

Fed’s Daly: inflation not the only risk, policy must ‘exhibit care’ Read More »

OTTAWA, June 24 (Reuters) – There is enough slack in the Canadian labor market to allow for growth and the creation of more jobs even as the inflation rate continues to decline, Bank of Canada Governor Tiff Macklem said on Monday. Earlier this month the central bank trimmed its key policy rate for the first …

Bank of Canada: economy can add jobs and growth even as inflation slows Read More »

By Jamie McGeever ORLANDO, Florida (Reuters) -The U.S. consumer’s resilience to prolonged elevated borrowing costs has shown signs of wilting recently, but barring a deep downturn in the labor market, soaring household wealth should ensure it doesn’t crack. Federal Reserve figures show that U.S. households’ net worth leaped by $5 trillion in the first quarter …

Far from credit crunched, US household wealth is soaring: McGeever Read More »