Reuters US Economy

By Elizabeth Howcroft LONDON (Reuters) -European commercial real estate investment fell to its lowest in 11 years in the first quarter of 2023, MSCI Real Assets said on Thursday, as investors spooked by higher interest rates and the economic outlook put acquisition plans on ice. The number of offices sold – Europe’s largest real estate …

European commercial real estate investment slumps to 11-year low in Q1 2023 Read More »

By Hannah Lang and Ann Saphir WASHINGTON/SAN FRANCISCO (Reuters) – Of all the facts that have emerged about last month’s two U.S. bank busts – the unanswered warning letters from regulators, the ignored interest-rate risk, the outsized levels of uninsured deposits – one data point in particular continues to stir deep-seated unease among finance officials: …

Speed of US bank failures to play starring role in Fed, FDIC post-mortems Read More »

The failures of two large regional U.S. banks in mid-March blew a $22 billion hole in the nation’s deposit insurance fund and shook confidence in the global financial system. On Friday the banks’ regulators – the Federal Reserve and the Federal Deposit Insurance Corporation – will publish their accounts of what happened at both institutions, …

Factbox-Fed, FDIC reviews of US bank failures to spotlight problems, fixes Read More »

KUALA LUMPUR (Reuters) – The United States lifted a 17-month import ban on products from Malaysian rubber glove maker Smart Glove, saying the company has addressed exploitative labour practices. U.S. Customs and Border Protection (CBP) in November 2021 sanctioned imports from Smart Glove and its group of companies over the alleged use of forced labour …

US lifts import ban on Malaysia’s Smart Glove Read More »

By Jihoon Lee SEOUL (Reuters) – South Korea’s exports likely fell in April for a seventh consecutive month and their longest falling streak in more than three years, a Reuters survey showed on Thursday, highlighting frail overseas demand as the world economy slows. Outbound shipments were expected to have fallen 13.5% in April from a …

South Korea exports set for longest falling streak in over three years- Reuters poll Read More »

HELSINKI (Reuters) -The Nordic region’s biggest lender Nordea posted a larger than expected gain in first-quarter operating profits on Thursday, on the back of rising interest rates and despite weaker Nordic currencies. The Finnish banking group reported an operating profit of 1.48 billion euros ($1.64 billion) in the quarter, up from 1.1 billion a year …

Nordea Q1 profit tops forecast as interest rates rise Read More »

By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) – Financial authorities must be mindful of the risk of excessive regulation aimed at preventing digital bank runs caused by online rumours and speculation, said the former commissioner of Japan’s Financial Services Agency (FSA). The failure of Silicon Valley Bank and Signature Bank in the United States …

Japan ex-regulator head warns against excess regulation aimed at stopping digital bank runs Read More »

By Steve Scherer and Ismail Shakil OTTAWA (Reuters) – The Bank of Canada (BoC) did not hike interest rates earlier this month because it wanted to wait for more evidence of the effects of previous monetary tightening on growth and inflation, according to minutes from the policy-setting meeting released on Wednesday. On April 12, the …

Bank of Canada refrained from rate hike to collect more economic evidence Read More »