By Noel Randewich (Reuters) – The Dow Jones Industrial Average was on the verge of ending its longest winning streak in 36 years on Thursday, successive gains showing that Wall Street’s tech-driven rally is broadening to include a wider chunk of the stock market. The Dow closed higher for 13 straight sessions through Wednesday, its …
Dow Jones index set to end 13 day winning streak Read More »
WASHINGTON (Reuters) -U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate 16% from current levels, with the brunt felt by the largest and most complex firms, regulators …
US bank regulators announce sweeping proposals on capital rules Read More »
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -The European Central Bank raised interest rates for the ninth consecutive time on Thursday, but raised the possibility of a pause in September as inflation pressures show tentative signs of easing and recession worries mount. Fighting off a historic surge in prices, the ECB has now lifted …
ECB fans talk of September pause after raising rates to 23-year high Read More »
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy grew faster than expected in the second quarter as a resilient labor market supported consumer spending, while businesses boosted investment in equipment and built more factories, potentially keeping a much-feared recession at bay. Despite the broad-based acceleration in growth reported by the Commerce Department on Thursday, …
US economy defies recession fears with strong second-quarter performance Read More »
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Turkey’s new central bank chief pitched a comprehensive monetary policy in her first formal address to the media while her acknowledgment of stark inflation pressures was welcomed by foreign investors. Laying out her philosophy in her debut news conference, Hafize Gaye Erkan pledged that her …
Analysis-Going holistic: Turkey’s new central bank chief pitches comprehensive policy Read More »
By Andrea Shalal WASHINGTON (Reuters) – The Biden administration on Thursday continued its push to drive down housing prices, announcing steps to reduce zoning and land-use restrictions that often constrain housing construction, especially in low-income areas, and better protect renters. The moves, which will also expand financing for affordable, energy efficient and resilient housing and …
Biden administration moves to boost housing supply, improve renter protections Read More »
WASHINGTON (Reuters) – New orders for key U.S.-manufactured capital goods unexpectedly rose in June, suggesting business spending on equipment could continue to grow after rebounding in the second quarter. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.2% last month, the Commerce Department said on Thursday. Data …
US core capital goods orders unexpectedly rise in June Read More »
BERLIN (Reuters) – German consumer sentiment is expected to stabilize in August, after a slight decrease the month before, as households’ hopes for falling inflation have led to significantly brighter income expectations, a GfK institute survey showed on Thursday. The institute’s consumer sentiment index rose to -24.4 heading into August from a slightly revised -25.2 …
German consumer morale to stabilize in August -GfK Read More »
(Reuters) – British car production rose for the fifth consecutive month in June compared to last year as pandemic-induced chip shortages eased, an industry body said on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said a total of 84,767 cars rolled out of factory gates in the United Kingdom last month, an increase …
UK car output rises for fifth straight month in June – SMMT Read More »
BEIRUT (Reuters) – Lebanon’s longtime central bank governor Riad Salameh defended his record on Wednesday in a televised interview just days before he is set to leave office, denying he embezzled public funds and saying his policies benefited the economy. Salameh, whose 30-year tenure as governor has been stained by a deepening financial crisis and …
Lebanon central bank chief defends record before leaving office Read More »
