PARIS (Reuters) – President Emmanuel Macron’s government secured parliamentary backing for the financing of a 20 billion euros ($20.30 billion)inflation relief package and tax breaks, to help households cope with the cost of living crisis. After the lower house approved the supplementary 2022 budget bill, it will now go to the Senate, which is dominated …
French lawmakers back financing for inflation-relief package Read More »
By David Randall NEW YORK (Reuters) – As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of a weeks-long U.S. stock market rally that followed a vicious first-half selloff. Even after Tuesday’s sharp fall, the S&P 500 remained up 7% from its June 16 low, buoyed in part …
Analysis-Investors gauge U.S. stocks rebound: ‘suckers’ rally’ or market bottom? Read More »
By Timothy Gardner WASHINGTON (Reuters) -The Biden administration on Tuesday said it will sell an additional 20 million barrels of oil from the Strategic Petroleum Reserve as part of a previous plan to tap the facility to calm oil prices boosted by Russia’s invasion of Ukraine and as demand recovers from the pandemic. The administration …
U.S. to sell additional 20 million barrels of oil from strategic reserve Read More »
A look at the day ahead in markets from Tommy Wilkes. The European corporate earnings season picks up pace on Tuesday and the evidence so far is that rising costs and slowing demand are beginning to bite. A few weeks back the big concern for traders was that the next leg lower for stock markets …
SHANGHAI (Reuters) – China’s key money market rate touched a 1-1/2-year low on Tuesday, showing little sign of stress due to ample liquidity ahead of month-end peak demand for cash. The elevated liquidity levels also prompted some market participants to wonder if the easy cash conditions would be sustainable as they were turning their attention …
China money rate falls to 1-1/2 year low ahead of month-end demand Read More »
By Mark John (Reuters) – It should surprise no one that the first big pandemic-era display of worker power was in air travel, according to Sharan Burrow, head of the International Trade Union Confederation. “The aviation sector globally is a prime example of bad employment policy,” Burrow said of an industry whose high-volume, low-cost model …
Analysis-Workers seize their moment to shift the balance of power Read More »
By Lucy Craymer WELLINGTON (Reuters) -New Zealand’s central bank is reviewing its recent performance regarding monetary policy, Governor Adrian Orr said on Tuesday, after criticism of its pandemic measures, and those of other central banks, figured in a recent report. Inflation near three-decade highs is forcing people in New Zealand to grapple with rising costs …
RBNZ reviews recent performance on monetary policy Read More »
MEXICO CITY (Reuters) -Mexico’s economy likely expanded for a third consecutive quarter between April and June, although at a lower rate due to the economic fallout of Russia’s war in Ukraine and COVID-19 lockdowns in China, a Reuters poll showed Monday. Gross domestic product (GDP) is expected to have expanded 0.8% in the second quarter …
Mexico’s economy expected to grow in Q2, but at slower pace Read More »
(Reuters) – U.S. companies borrowed 1% less in June to finance their investments in equipment compared with a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $10.3 billion in new loans, leases and lines of credit last month, compared with $10.4 billion a year earlier. However, …
U.S. business borrowing for equipment falls 1% in June – ELFA Read More »
By Saikat Chatterjee and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – Futures contracts tied to the Federal Reserve’s policy rate showed on Monday that benchmark U.S. interest rates will peak in January 2023, earlier than the February reading they gave last week. The implied fed funds rate by January 2023 is 3.395%, declining to 3.38% in …
U.S. interest rates peak seen by January 2023 – fed funds futures Read More »
