Reuters US Economy

Elevator maker Otis tops quarterly results estimates on higher modernization orders

29 Oct 2025

(Reuters) -Elevator maker Otis Worldwide beat Wall Street estimates for the third quarter on Wednesday, driven by a 27% rise in modernization orders, which supported strong growth in its services segment. Shares of the company were up nearly 3% before the bell. The tariff-resistant services segment continued to see growing demand for maintenance, repair, and …

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TE Connectivity forecasts upbeat quarterly profit on strong demand for AI products

29 Oct 2025

By Anshuman Tripathy (Reuters) -TE Connectivity issued an upbeat first-quarter forecast on Wednesday, after beating Wall Street estimates for profit for the preceding three months, aided by strong demand for its artificial intelligence-focused products. Shares of the company rose 9% in premarket trading. Demand for AI-related products and hardware in the U.S. has spurred huge …

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Saudi economy minister forecasts 2025 real GDP growth at 5.1%

29 Oct 2025

RIYADH (Reuters) -Saudi Arabia’s economy minister forecast real GDP growth of 5.1% for 2025, supported by the non-oil sector, as the kingdom accelerates efforts to diversify away from oil. “We forecast to close the year…in terms of total real GDP growth at around 5.1% and for non-oil GDP around 3.8%,” Faisal Alibrahim said, speaking on …

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Bank of Canada widely expected to trim rates as US trade war drags on

29 Oct 2025

By Promit Mukherjee OTTAWA (Reuters) -The Bank of Canada is almost certain to reduce its key policy rate to 2.25% on Wednesday, with President Donald Trump’s latest threats of higher tariffs reinforcing expectations that a rate cut would be needed to help spur demand and support growth. Money markets show a more than 90% chance …

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Norway sovereign wealth fund books $103 billion third-quarter profit

29 Oct 2025

OSLO (Reuters) -Norway’s sovereign wealth fund earned a 5.8% return on investment in the third quarter, corresponding to a profit of 1.03 trillion Norwegian crowns ($102.56 billion), it said on Wednesday. “The result is driven by strong returns in the stock market, particularly in basic materials, telecommunications and the financial sector,” Norges Bank Investment Management …

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Spain’s economic growth gently decelerates in third quarter

29 Oct 2025

MADRID (Reuters) -Spain’s economy expanded at a slightly milder pace of 0.6% in the third quarter from the previous three-month period, when it grew 0.8%, preliminary data from the National Statistics Institute (INE) showed on Wednesday. Still, Spain has been consistently outpacing its euro zone peers thanks to a booming post-pandemic tourism sector, a strong …

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RBNZ Governor Hawkesby says it is crucial central banks have full independence

29 Oct 2025

By Lucy Craymer WELLINGTON (Reuters) -New Zealand central bank Governor Christian Hawkesby said on Wednesday that people did not need to look far to see central bank independence under attack around the globe and that the independence of these banks to set policy remains crucial. Hawkesby said in a speech at a central bank workshop …

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New Zealand central bank says its cut nearly 20% of staff since March

29 Oct 2025

WELLINGTON (Reuters) -New Zealand’s central bank said in documents released on Wednesday that it had cut nearly 20% of its staff since March. The central bank had previously announced it was undergoing a significant restructure after the government said in April that the bank’s budget would be cut by 25% in the 2025-26 financial year. …

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European shares pause after record rally; earnings, US-China trade in focus

28 Oct 2025

By Sukriti Gupta and Purvi Agarwal (Reuters) -European shares retreated on Tuesday, after three consecutive sessions of record highs, as investors shifted their focus to corporate earnings from U.S.-China trade developments. The continent-wide STOXX 600 index closed 0.2% lower, with most major regional indexes mirroring the move. Spain’s blue-chip IBEX 35 eclipsed its 2007 threshold …

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