Reuters US Economy

By Jessica DiNapoli NEW YORK (Reuters) – Makers of brand-name household basics like Dunkin’ coffee and Schick razors are bulking up sales teams and adding specialized and lower-cost products to the shelves of America’s ubiquitous dollar stores in a bid to reach more budget-conscious shoppers. Razor manufacturer Edgewell Personal Care Co and Kraft Heinz Co …

As household budgets tighten, big brands double down in dollar stores Read More »

WASHINGTON (Reuters) – Fraudulent filings for state unemployment insurance aid in Massachusetts could be distorting U.S. weekly unemployment claims data, economists warned on Wednesday, making it harder to get a clear picture of the labor market in the short-term. A surge in applications in Massachusetts accounted for the increase in initial claims for unemployment benefits …

Fraud in Massachusetts is boosting US weekly jobless claims, economists say Read More »

By John McCrank NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Wednesday voted to propose a plan to bolster the resiliency of clearing houses during times of significant market stress, such as the 2021 “meme stock” trading frenzy. Clearing agencies and their infrastructure are often referred to as the plumbing of the …

US SEC proposes plan to bolster clearing houses’ resiliency Read More »

By Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will hold its key interest rate steady this year despite an expected recession, according to a Reuters poll of economists, who also said the risk of a U.S. default over the debt ceiling was higher compared to prior stand-offs. Those concerns, along with failures of …

Fed to keep rates untouched this year; risk of U.S. default high: Reuters poll Read More »

BEIJING (Reuters) – China’s new home prices rose for the fourth straight month in April but at a slower pace, heightening fears that pent-up demand after the country’s economic reopening is fading. Economists say more policy stimulus may be needed to ensure the recovery stays on track after a batch of recent data showed imports …

China’s home prices rise at slower pace as demand ebbs Read More »

A look at the day ahead in European and global markets from Ankur Banerjee Nervousness in the market over the looming U.S. debt ceiling deadline prevailed through the Asian hours and will remain the main focus for investors as Europe wakes up. While the talks between U.S. President Joe Biden and top congressional Republican Kevin …

Marketmind: Are we there yet? Market holds breath for debt ceiling deal Read More »

By Brendan O’Boyle and Carolina Pulice (Reuters) -The International Monetary Fund on Tuesday said it “strongly supports” Brazil’s efforts to improve the country’s fiscal position, while also commending the country’s “ambitious agenda” to have a sustainable, inclusive, and green economy. “Enhancing Brazil’s fiscal framework, broadening the tax base, and tackling spending rigidities would support sustainability …

IMF backs Brazil’s fiscal reform, ‘ambitious’ green agenda Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed lower on Tuesday after a disappointing forecast from Home Depot and U.S. retail sales data for April pointed to softer consumer spending, while uncertainty about interest rates and debt limit negotiations weighed on sentiment. Home Depot declined 2.15% as one of the biggest drag …

Wall Street closes lower after Home Depot outlook, US retail sales Read More »

TOKYO (Reuters) – Japan’s government on Tuesday has approved an increase in household electricity rates of made by seven major utilities after delays in examining their requests as the government sought to address record high inflation. The hikes, ranging from 14% to 42% to reflect higher fuel costs, will add pressures on the world’s third-biggest …

Japan approves energy firms’ household power price hike Read More »