Reuters US Economy

NEW YORK (Reuters) – The benchmark S&P 500 was down more than 20% from its Jan. 3 record closing high on Monday, as investors sold stocks amid worries over whether the Federal Reserve will be able to tame inflation without triggering a recession. A close of more than 20% below the record high would confirm …

Wall Street poised to clinch bear market as S&P 500 tumbles Read More »

By Elizabeth Piper and Kate Holton LONDON (Reuters) – Britain will set out plans on Monday to override some of the post-Brexit trade rules for Northern Ireland, changes that will inflame tensions with the European Union but were dubbed mere “bureaucratic simplifications” by Prime Minister Boris Johnson. Britain has been threatening for months to rip …

‘Bureaucratic simplifications’, Britain to defy EU with new N.Ireland law Read More »

BERLIN (Reuters) – German Economy Minister Robert Habeck on Monday welcomed the European Central Bank’s indication last week that it would deliver next month its first interest rate hike since 2011. “I think it is right that the key interest rate is being lifted,” Habeck told a forum on the eastern German economy. “The main …

German economy minister welcomes move to higher interest rates Read More »

A look at the day ahead in markets from Sujata Rao. A half-point U.S. Fed interest rate rise was always a done deal for Wednesday, but with annual inflation rising at the fastest since 1981, expectations are growing of a 75 basis-point move, either this month, or at one of the bank’s upcoming meetings. That’s …

Marketmind: Who wants to be a central banker? Read More »

By Steven Scheer JERUSALEM (Reuters) – Israel’s government plans to sharply boost construction starts and expand a discount scheme aimed at restraining rapidly rising housing prices as demand continues to outstrip supply. Under a joint plan by the finance, interior, and construction and housing ministries, Israel aims to start building 280,000 housing units by 2025, …

Israel to boost building starts in bid to rein in soaring housing costs Read More »

By Kanupriya Kapoor SINGAPORE (Reuters) – Ukraine has established two routes through Poland and Romania to export grain and avert a global food crisis although bottlenecks have slowed the supply chain, Kyiv’s deputy foreign minister said on Sunday. Dmytro Senik said global food security was at risk because Russia’s invasion of Ukraine had halted Kyiv’s …

Ukraine grain exports via Poland, Romania face bottlenecks – deputy foreign minister Read More »

FRANKFURT (Reuters) – German Economy Minister Robert Habeck plans to present concrete proposals to tighten the nation’s antitrust laws and give the Federal Cartel Office more powers, according to a position paper circulated by his ministry on Sunday. The move comes amid his concerns that energy companies are not passing on to consumers a recent …

German economy minister aims to tighten antitrust laws Read More »

ISTANBUL (Reuters) – Turkey’s Finance Minister Nureddin Nebati said on Saturday that the Turkish economy is liberal and will continue to grow in a sustainable way after the government introduced steps to support it. Speaking to businesses in the southern city of Gaziantep, Nebati also said fight against rising inflation, which hit a 24-year-high of …

Turkish finance minister says economy liberal, growth sustainable Read More »

By Julie Gordon and Ismail Shakil OTTAWA (Reuters) -Canada’s jobless rate inched down to a new record low after adding more jobs than expected in May, and wage growth picked up steam, official data showed on Friday, bolstering the case for an even larger rate increase next month by the central bank. Canada added a …

Canada jobless rate hits record low, bolstering case for 75-bps rate hike Read More »