Reuters US Economy

Miners say Western Australia border closure may take further toll on labour, output

11 Feb 2022

(Reuters) – A coronavirus-related delay by resource-rich Western Australia in reopening its borders could worsen labour supply issues and have an impact on mining production, top miners have warned. The state, Australia’s largest, is home to mines that provide about 30% of the world’s iron ore and 70% of China’s imports. Last month it cancelled …

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Fed’s loudest hawk ramps up odds for monster rate hike after hot inflation data

11 Feb 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Federal funds rate futures on Thursday have boosted the chances of a half percentage-point tightening by the Federal Reserve at next month’s meeting after hawkish comments from St. Louis Fed President James Bullard and following hotter-than-expected U.S. consumer prices data for January. In late afternoon trading, rate futures showed …

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BCA goes ‘overweight’ Brazil as more investors turn bullish on Lula

10 Feb 2022

By Marcela Ayres BRASILIA (Reuters) – A Canadian research note calling ex-president Luiz Inacio Lula da Silva a possible “savior” of Brazil’s sluggish economy has stoked debate in financial markets over increasingly bullish foreign investors eyeing a return of the left-wing leader. BCA Research analysts raised their recommendation on Brazilian equities and sovereign debt to …

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Many counterfeit parts found in U.S. nuclear plants -inspector general

10 Feb 2022

(Corrects lead paragraph to say many counterfeit parts are in U.S. nuclear plants instead of most, if not all, plants contain counterfeit parts) By Timothy Gardner WASHINGTON (Reuters) – Many counterfeit parts have been discovered in U.S. nuclear plants, potentially increasing the risk of a safety failure, the inspector general of the federal nuclear industry …

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IMF says wants G20 support to strengthen debt restructuring framework

10 Feb 2022

WASHINGTON (Reuters) – The International Monetary Fund said on Thursday it is hoping that G20 finance leaders next week can advance proposals to strengthen a debt restructuring framework for poor countries as default risks rise and demands for easier debt terms increase. IMF spokesman Gerry Rice told reporters that the Fund will seek support for …

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Lebanese PM signals difficulty in agreeing financial recovery plan

10 Feb 2022

By Timour Azhari and Laila Bassam BEIRUT (Reuters) – Prime Minister Najib Mikati indicated on Thursday difficulties in agreeing a financial recovery plan critical to steering Lebanon out of its devastating economic collapse, calling it a “Kamikaze operation”. A plan for addressing a $70 billion hole in the financial system is seen as the starting …

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Investors gird for more hawkish Fed after sharp inflation rise

10 Feb 2022

By Devik Jain, Davide Barbuscia and Chuck Mikolajczak NEW YORK (Reuters) – Investors were bracing for more market volatility after a sharper-than-expected rise in consumer prices ramped up expectations for how aggressively the Federal Reserve will need to move as it fights to tame soaring inflation. The prospect of a more hawkish Fed has been …

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Equinor to adjust Norway offshore wind plans after policy change -executive

10 Feb 2022

By Nora Buli and Nerijus Adomaitis OSLO (Reuters) – Norway’s Equinor said on Thursday it must rework its offshore wind plans at home after the government decided that the first such plants can only supply domestic power users and not link up with other countries. Equinor has teamed up with Germany’s RWE and Norwegian aluminium …

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Macron bets on nuclear in carbon-neutrality push, announces new reactors

10 Feb 2022

By Richard Lough and Benjamin Mallet PARIS (Reuters) – France will build at least six new nuclear reactors in the decades to come, President Emmanuel Macron said on Thursday, placing nuclear power at the heart of his country’s drive for carbon neutrality by 2050. Macron said the new plants would be built and operated by …

Macron bets on nuclear in carbon-neutrality push, announces new reactors Read More »

Light at end of tunnel for Czech services as government drops COVID pass

10 Feb 2022

By Jiri Skacel PRAGUE (Reuters) – Czech restaurant and hotel operators saw light at the end of the tunnel on Thursday as the government cancelled rules requiring vaccination certificates to enter restaurants and events as Omicron infections started to ebb. Hotels and restaurants in Prague, a prime tourist destination, have suffered badly throughout the pandemic …

Light at end of tunnel for Czech services as government drops COVID pass Read More »

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