By Michael S. Derby NEW YORK (Reuters) – Early next month, the Federal Reserve Bank of New York will take on what has become something of a fraught subject for the central bank: climate change. Starting on Nov. 8 it will begin publishing a string of reports detailing the impact of “extreme weather events” on …
NY Fed to tackle weather-related risks in upcoming research barrage Read More »
By Jorgelina do Rosario LONDON (Reuters) – The head of the International Monetary Fund said on Wednesday that international cooperation in a divided world was essential, to combat a phase of slow global growth that would persist for years along with high interest rates. “Inflation is still high and that requires interest rates to remain …
IMF’S Georgieva: Interest rates to stay high, dampen growth Read More »
By Ebru Tuncay and Birsen Altayli ISTANBUL (Reuters) – Turkish companies’ end-2023 balance sheets will be inflation-adjusted, with adjustments expected to continue until 2026 in light of current inflation forecasts, the Treasury told Reuters. The move comes after Turkish inflation soared above 85% last year following an aggressive rate-cutting cycle that sparked a currency crash …
Turkey sees company balance sheets inflation-adjusted until 2026 Read More »
By Maha El Dahan, Yousef Saba and Nadine Awadalla RIYADH (Reuters) – The head of the International Monetary Fund (IMF) on Wednesday said the war between Israel and Hamas was another cloud on a horizon with plenty of them, warning that the global economic outlook could worsen. “What we see is more jitters in what …
Israel-Hamas conflict a new cloud among many – IMF chief Read More »
(Reuters) – Recruitment services firm Robert Half beat Wall Street estimates for third-quarter service revenue on Tuesday, as a softening macro environment boosts demand for the company’s services. The results fan optimism about the recovery of the staffing industry marked by cooling inflation and a stabilizing labor market. Robert Half’s service revenues fell nearly 15% …
Robert Half beats quarterly revenue estimates on hiring recovery Read More »
By Stephen Culp NEW YORK (Reuters) – Wall Street ended higher on Tuesday as a spate of solid corporate earnings and upbeat forecasts stoked investor risk appetite and sparked a broad rally. All three major U.S. stock indexes advanced, with interest rate sensitive megacaps providing much of the upside lift as benchmark Treasury yields held …
Wall Street surges to close higher, powered by upbeat earnings, guidance Read More »
WASHINGTON (Reuters) – The White House will request another supplemental spending package this week to address child care, disaster relief, and other priorities, White House spokesperson Karine Jean-Pierre said on Tuesday. Last week, President Joe Biden asked Congress to provide $106 billion in supplemental funding, with the bulk of the money going to bolster Ukraine’s …
By David Randall NEW YORK (Reuters) – Several of Wall Street’s biggest names are calling a top on longer-dated Treasury yields, after yields on the benchmark 10-year note briefly rose above 5% earlier this week to hit their highest level since 2007. Analysts at UBS Global Wealth Management, which oversees $3.1 trillion, on Tuesday said …
Some big Wall Street investors call top in Treasury yields after 5% hit Read More »
By Ann Saphir The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation. The topsy-turvy economic environment of the coronavirus pandemic sidelined those …
Fed hawks, Fed doves: What U.S. central bankers say about policy Read More »
BERLIN (Reuters) – Business activity in Germany contracted for a fourth straight month in October as manufacturing’s downturn was matched by a renewed decline in services, a preliminary survey showed on Tuesday, suggesting a recession is well underway. The HCOB German Flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 45.8 in …
German business activity slump suggests recession ‘well underway’ -PMI Read More »
