Reuters US Economy

By Noel Randewich (Reuters) – China’s frail growth could weigh on companies with exposure to the world’s second-largest economy, including Apple, big chipmakers and luxury retailers as they report quarterly results in the next few weeks. Wall Street is bracing for a steep drop in second-quarter U.S. earnings, with profit margins expected to be hurt …

China’s sagging economy looms over quarterly results around the world Read More »

By Hannah Lang (Reuters) – The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country’s payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday. The “FedNow” service, which has been …

Fed launches long-awaited instant payments service, modernizing system Read More »

By Marc Jones and Canan Sevgili LONDON (Reuters) – Whisper it, but for all the warnings of a Turkish financial market meltdown if Tayyip Erdogan won May’s Presidential vote, some parts of it have done rather well, although the lira’s drop has been as punishing as predicted, if not worse. From a stock market rally …

The mismatched metamorphosis of Turkey’s financial markets Read More »

By Amanda Cooper and Dhara Ranasinghe LONDON (Reuters) -Evidence that Britain’s red-hot inflation is finally cooling has knocked the wind out of sterling, which had been riding high as this year’s best-performing currency in the Group of Seven (G7) developed economies just a day ago. The pound was headed for its biggest-one day fall against …

Cooling UK inflation may signal time for rethink for sterling bulls Read More »

A look at the day ahead in European and global markets from Tom Westbrook Barbie’s box-office debut began in parts of Asia on Thursday and is expected to rake in $100 million from U.S. theatres over the weekend. Tickets and refreshed sales for Mattel’s 60-year-old doll would be another testament to the consumer’s resilience to …

Marketmind: Barbie hits the box office Read More »

By David Milliken LONDON (Reuters) – The Bank of England should speed up the pace at which it is unwinding its 800 billion-pound ($1 trillion) stockpile of government bonds bought as part of its quantitative easing operations, Deputy Governor Dave Ramsden said on Wednesday. Last September the BoE said it would reduce its gilt holdings …

Bank of England’s Ramsden calls for faster QE gilt unwind Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. single-family homebuilding fell in June, but permits for future construction rose to a 12-month high as a severe shortage of previously owned houses for sale supports new construction. The decline in housing starts reported by the Commerce Department on Wednesday partially retraced an abnormally large 18.7% surge in …

US single-family starts drop; building permits hit 12-month high Read More »

By Rachna Uppal ABU DHABI (Reuters) – Abu Dhabi, the capital of major oil exporter United Arab Emirates, plans to double the contribution from its industrial sector to GDP, a senior government official said on Wednesday, amid growing regional competition to diversify from oil. Last year the industrial sector’s contribution to Abu Dhabi’s gross domestic …

UAE’s Abu Dhabi sees strong industrial sector growth amid diversification push Read More »

By Lewis Jackson SYDNEY (Reuters) – Australia’s largest landlords have announced a string of downgrades to the values of their office block portfolios over the past month, but not by enough to humour investors. While publicly traded commercial real estate markets have plunged, the hit to unit prices has not shown up fully in asset …

Analysis-Australian office landlords face price reckoning amid buyer impasse Read More »