Reuters US Economy

By Vivek Mishra BENGALURU (Reuters) – New Zealand’s house prices are forecast to fall 10% this year and 5% next as aggressive interest rate hikes take some heat out of a blazing housing market, but not enough to solve the ongoing affordability crisis, a Reuters poll found. Billions of dollars in government stimulus and historically …

Boom turns to gloom as higher interest rates hit New Zealand housing- Reuters poll Read More »

By Jamie McGeever ORLANDO, Fla. (Reuters) – While the Federal Reserve and other central banks obsess over avoiding a 1970s style ‘wage-price’ spiral, U.S. GDP data last week showed that the risk of inflation remaining elevated is more nuanced. Call it a ‘profit-price’ spiral. By many measures, the U.S. labor market is as strong as …

Column-U.S. corporate profit boom reveals more about inflation threat than wages: McGeever Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – A late rally helped the S&P 500 snap a four-session losing skid on Thursday with investor focus turning to a key report on the labor market on Friday. Stocks had been solidly lower for most of the session, after data showed weekly jobless claims fell more than expected …

S&P 500 snaps four-session losing streak with payrolls on deck Read More »

BEIRUT (Reuters) -The International Monetary Fund told the Lebanese state on Thursday its banking secrecy law has not resolved “key deficiencies,” urging officials to make new changes to their first attempt at financial reform. The assessment, seen by Reuters and confirmed by a government official as accurate, is the IMF’s first comment on Lebanon’s steps …

Lebanon banking secrecy law retains key problems – IMF Read More »

(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The new month has not signalled a new dawn for financial markets, and the noose of tightening financial conditions – a soaring dollar, rising bond yields, aggressive expectations for central bank policy rates – is choking investor sentiment even more. U.S. …

Marketmind: Financial conditions noose tightens Read More »

MEXICO CITY (Reuters) -Remittances to Mexico reached a record high in July as Mexican families received $5.3 billion from abroad, an annual increase of 16.5%, data from the Mexican central bank showed on Thursday. This marks the third consecutive month that remittances reached a record amount, following highs recorded in May ($5.142 billion) and June …

Remittances to Mexico again break record on back of strong U.S. labor market Read More »

(Reuters) – Brazil posted an above-expected trade surplus of $4.165 billion in August, government data showed on Thursday, recording growth in exports, but with imports again advancing at a higher pace. According to the Economy Ministry, exports rose 8.4% from the same month last year, to $30.840 billion. Meanwhile, imports jumped 30.5%, to $26.675 billion, …

Brazil posts trade surplus of $4.165 billion in August, above expected Read More »

By Sergio Goncalves LISBON (Reuters) – Portugal announced on Thursday it would speed up granting visas to citizens of other Portuguese-speaking countries, including Angola and Brazil, as it seeks to tackle a labour shortage. The other countries in the Community of Portuguese language countries (CPLP) are East Timor, Cape Verde, Guinea-Bissau, Equatorial Guinea, Mozambique and …

Portugal eases visa rules to tackle labour shortage Read More »

ISTANBUL (Reuters) -Turkish authorities raised electricity and natural gas prices for households by around 20% and by around 50% for industry on Thursday, putting further upward pressure on inflation, which was running at nearly 80% in July. The utility price hikes are expected to push inflation up by 0.8 percentage points, according to a Reuters …

Turkey raises electricity, gas prices by 50% for industry, 20% for homes Read More »

(Reuters) – Canadian oil-producing province Alberta expects a budget surplus of C$13.2 billion ($10.1 billion) in the 2022-23 fiscal year, significantly higher than the C$511 million surplus estimated in its budget, helped by a boom in energy prices. That more-than twenty-fold increase in Alberta’s estimate is pegged on expectations of higher income from bitumen royalties, …

Canada’s Alberta forecasts much bigger 2022-23 budget surplus of C$13.2 billion Read More »