Reuters US Economy

By Arasu Kannagi Basil and Pritam Biswas (Reuters) -Short seller Hindenburg Research on Tuesday disclosed a short position in digital bank Axos Financial, alleging lax underwriting standards and glaring issues with its loan portfolio, sending shares down 7.4%. Hindenburg, a forensic financial research firm, said the bank was exposed to the riskiest asset classes, and …

Axos Financial shares fall after Hindenburg takes short position Read More »

By Howard Schneider WASHINGTON (Reuters) – The U.S. job market in April cleared a key hurdle in its slow return from the COVID-19 pandemic when a wonky economic chart known as the “Beveridge Curve” finished its own journey from where it had shifted during the health crisis back to where it was in 2018 to …

US job market hits milestone on long, strange trip back to pre-pandemic normal Read More »

By Noe Torres MEXICO CITY (Reuters) – Mexican finance minister Rogelio Ramirez de la O sought to reassure investors and markets, saying on Tuesday he would stay in his current role with the incoming government and work to reduce public debt and maintaining financial discipline. Ramirez de la O briefly spoke to analysts on a …

Mexican finance minister seeks to soothe investors, reduce public debt Read More »

By Marcela Ayres BRASILIA (Reuters) -Brazil’s economy rebounded in the first quarter from a sluggish second half of 2023 on stronger investments and consumer demand, official figures showed on Tuesday, adding to caution at the central bank, which has slowed the pace of interest-rate cuts. The data boosted the outlook for Latin America’s largest economy, …

Brazil economy rebounds to start year, but flood impacts unclear Read More »

By Joe Cash and Kevin Yao BEIJING (Reuters) – A plunge in China’s new housing construction is fuelling hopes the battered property sector is finally coming to terms with chronic oversupply, but a clean-up of bad assets is the missing policy piece that keeps Japan-like stagnation fears alive. On paper, the world’s second-largest economy is …

Analysis-China sees property silver lining but can’t shake Japan comparisons Read More »

By Dan Burns (Reuters) -U.S. manufacturing activity slowed for a second straight month in May as new goods orders dropped by the most in nearly two years, and spending on construction projects slipped unexpectedly the month before, the latest indications that a gradual slowdown in the economy is taking hold. The Institute for Supply Management’s …

US factory activity, construction spending both fall Read More »

By Alexander Marrow and Elena Fabrichnaya MOSCOW (Reuters) – The Bank of Russia is likely to keep its benchmark interest rate at 16% on Friday but tighten its rhetoric, a Reuters poll showed on Monday, although a quarter of economists leaned towards a hike as the bank grapples with stubborn inflation. The bank has become …

Bank of Russia to keep benchmark rate at 16% on Friday, tighten rhetoric: Reuters poll Read More »

By Daren Butler and Oben Mumcuoglu ISTANBUL (Reuters) -Turkish annual consumer price inflation reached 75.45% in May, a bit above expectations, official data showed on Monday, in what is expected to be the high watermark before a series of rate hikes and relative lira stability bring relief. The consumer price index rise was driven by …

Turkey inflation hits 75% in expected peak before relief Read More »

By Leika Kihara TOKYO (Reuters) -Asian factory activity expanded in May as manufacturers benefited from broadening global demand, private surveys showed on Monday, adding to hopes for sustained economic recovery in the region where China is showing early signs of a rebound. Manufacturing activity expanded in Japan for the first time in a year and …

Asian factory activity expands in May on robust global demand Read More »