By Purvi Agarwal and Fergal Smith (Reuters) -Canada’s main index ended lower on Tuesday as losses for the technology sector offset gains for resource shares after the price of gold moved to a record high, and as investors awaited an interest rate decision this week from the Bank of Canada. The Toronto Stock Exchange’s S&P/TSX …
Tech shares drag TSX lower for second straight day Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. services industry growth slowed a bit in February amid a decline in employment, but a measure of new orders increased to a six-month high, pointing to underlying strength in the sector. Despite the weakness in employment, comments from services businesses in the Institute for Supply Management (ISM) survey …
US services sector slows in February; inflation moderating Read More »
By David Lawder WASHINGTON (Reuters) -The U.S. Treasury Department on Tuesday announced new steps to boost the supply of affordable housing by unlocking billions of dollars in unspent COVID-19 aid funding to state and local governments to support a wider array of housing projects. The initiatives are part of a Biden administration drive to address …
US Treasury eases rules on unspent COVID aid to boost affordable housing Read More »
MADRID (Reuters) – Spain’s services sector grew in February at the fastest pace since May 2023 as optimism about the future rose to the highest level in two years, a survey showed on Tuesday. The HCOB Spain Services Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 54.7 from 52.1 in January. The indicator …
Spain’s services activity forges ahead in February, PMI survey shows Read More »
By Kentaro Sugiyama and Leika Kihara TOKYO (Reuters) – Japan is seeing early signs of achieving a positive cycle of rising inflation and wages, Deputy Chief Cabinet Secretary Hideki Murai said on Tuesday, stressing the administration’s focus on broadening pay increases beyond big companies. The government is ramping up efforts to change Japan’s long held …
Japan seeing signs of positive wage momentum, says senior official Read More »
MEXICO CITY (Reuters) – Mexico’s inflation rate likely eased in February, a Reuters poll showed on Monday, reinforcing bets that the country’s central bank could lower its key benchmark interest rate as soon as this month. A median forecast of 15 analysts predicted that the annual headline inflation rate would settle at 4.42% in February, …
By Laura Matthews NEW YORK (Reuters) – Some investment managers are looking to change the currency their funds do business in to the dollar to prevent their foreign exchange transactions from failing when U.S. securities move to a shorter settlement cycle this spring, specialist currency managers said. The U.S. Securities and Exchange Commission adopted a …
Managers explore dollar shift to handle faster US stock settlement Read More »
By Davide Barbuscia and Shankar Ramakrishnan NEW YORK (Reuters) – Seemingly endless demand for U.S. top-rated corporate debt has created unease among some investors who think a selloff could be on the cards if liquidity conditions worsen later this year. Expectations of a benign outcome for the U.S. economy despite high interest rates have fuelled …
US corporate debt euphoria could stall as Fed tightens liquidity Read More »
By Manya Saini (Reuters) -New York Community Bancorp shares fell in early trading on Monday, extending its slide from the previous session after the lender replaced its CEO and flagged “material weaknesses” in internal controls related to a loan review. The shares tumbled 13.8% to hit a 28-year low. They had dropped as much as …
NYCB shares resume slide as internal control issues hurt investor trust Read More »
By Howard Schneider WASHINGTON (Reuters) -The U.S. Federal Reserve is under no urgent pressure to cut interest rates given a “prospering” economy and job market, Atlanta Fed President Raphael Bostic said in remarks that highlighted the risk inflation may get stuck above the central bank’s 2% target or be sent even higher by “pent-up exuberance.” …
Fed’s Bostic: No urgency to cut interest rates given US economy’s strength Read More »
