Reuters US Economy

By Nandita Bose, Matt Spetalnick and Alexandra Alper WASHINGTON (Reuters) -The United States targeted Russian banks and elites with a new round of sanctions on Wednesday, including banning Americans from investing in Russia, in response to what President Joe Biden condemned as “major war crimes” by Russian forces in Ukraine. The new sanctions hit Russia’s …

Russia hit with new round of U.S. sanctions as Biden decries ‘major war crimes’ Read More »

By Katanga Johnson WASHINGTON (Reuters) -A U.S. markets regulator on Wednesday voted to propose new rules that would require platforms that execute trades of security-based swaps to register with the agency in a bid to increase transparency of the over-the-counter derivatives market. The proposals from the U.S. Securities and Exchange Commission (SEC) would fulfill a …

U.S. SEC unveils rules to better oversee security-based swap execution Read More »

ATHENS (Reuters) – Greek workers began a day-long nationwide strike on Wednesday over what they call a “deepening crisis” of rising prices and squeezed incomes, disrupting transport, ferries, schools and public hospitals. The country’s two biggest labour unions, representing about 2.5 million public and private sector workers, called the general strike expected to culminate in …

Greek workers strike over soaring prices, low wages Read More »

A look at the day ahead in markets from Sujata Rao Treasury markets are in full-fledged selloff mode ahead of minutes from the Federal Reserve’s March meeting. With a half-point interest rate rise mostly baked in for May, the debate has moved on to whether the Fed could kick off balance sheet reduction next month …

Marketmind: Bond bears get their claws out Read More »

By Mike Dolan LONDON (Reuters) – The race is on to declare a paradigm shift in the world economy toward higher inflation and interest rates and the jolt to public borrowing costs could compound the dizzying shocks that led to this. Lampooned by fiscal hawks as belief in a ‘magic money tree’, ever higher public …

Column-Felling the ‘magic money tree’ as central banks call time :Mike Dolan Read More »

(Corrects paragraph 7 to clarify sub-index remained below 50.0 but did not decline.) BEIJING (Reuters) – Activity in China’s services sector contracted at the sharpest pace in two years in March as a surge in coronavirus cases restricted mobility and weighed on demand, a private sector survey showed on Wednesday. The Caixin services Purchasing Managers’ …

China’s services sector activity hit hard by Omicron surge – Caixin PMI Read More »

By Noel Randewich (Reuters) – U.S. stock buybacks appear to be hitting new records as companies head into quarterly earnings season, even as some investors worry about the growing threat of inflation, a potential recession and stagnant share prices. New repurchase announcements by U.S. companies reached over $300 billion in the first quarter, with March …

U.S. buybacks seen at record highs ahead of earnings reports Read More »

By Wayne Cole SYDNEY (Reuters) – Most of Australia’s major banks now expect a rise in interest rates as early as June, though opinions on the pace of tightening and the peak point still vary widely. The first hike in a decade is clearly on the cards after the Reserve Bank of Australia (RBA) on …

Australian banks gravitate to June for rate rise, ultimate peak unclear Read More »

By Asha Sistla (Reuters) – Gold prices were flat on Wednesday as hawkish comments from U.S. Federal Reserve officials bolstered the dollar and Treasury yields to multi-year highs, denting bullion’s safe-haven demand and offsetting support from uncertainty around the Ukraine war. Spot gold was flat at $1,922.59 per ounce, as of 0320 GMT, after declining …

Gold prices flat as firmer dollar, yields dim safe-haven demand Read More »

(Reuters) – Ontario’s ruling Progressive Conservative government said on Tuesday it plans to raise the hourly minimum wage by 50 Canadian cents beginning in October, in what would be the second hike in an election year for the most populous Canadian province. The proposed pay raise, if passed by the provincial legislature, would take the …

Canada’s Ontario plans second minimum wage hike this year Read More »