Reuters US Economy

Brazil plans to unleash $707 million in fresh agriculture subsidies – source

10 Feb 2022

By Marcela Ayres BRASILIA (Reuters) – Brazil’s government plans to unveil 3.7 billion reais ($706.73 million) in fresh agriculture subsidies after its initial allocation for the sector ran out amid sharp interest rate hikes, according to a source involved in the plan. The source, who spoke to Reuters on condition of anonymity, said the government …

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Fed’s Mester says case for half-percentage-point rate hike in March not compelling

9 Feb 2022

By Jonnelle Marte (Reuters) -The Federal Reserve will have to move faster than it has in the past to remove accommodation and tame inflation that is well above target, but it may not be necessary to start the liftoff in interest rates with a half-percentage-point hike in March, Cleveland Fed Bank President Loretta Mester said …

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Strong U.S. wholesale inventories point to upward fourth quarter GDP growth revision

9 Feb 2022

By Lucia Mutikani WASHINGTON (Reuters) -U.S. wholesale inventories rose slightly more than initially estimated in December as motor vehicle stocks increased by the most in 10 years, offering hope that supply chain constraints could be easing. The strong inventory build reported by the Commerce Department on Wednesday, including an upward revision to November’s data, also …

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U.S. dividend funds receive huge inflows as investors switch out of bonds

9 Feb 2022

By Patturaja Murugaboopathy (Reuters) – U.S. investors are snapping up funds that invest in dividend-paying stocks as they search for stable income from alternatives to bond markets, which are being roiled by the prospect of rate rises. According to Refinitiv Lipper, investors bought $6.9 billion in U.S. dividend funds in January, the highest net purchases …

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U.S. crude stockpiles drop unexpectedly, demand hits record high – EIA

9 Feb 2022

By David Gaffen (Reuters) -U.S. crude oil stockpiles fell unexpectedly last week as overall refined product demand reached an all-time record, according to government data on Wednesday, showing how the U.S. economic pace is cutting into the market’s already tight supply.     Crude inventories fell 4.8 million barrels in the week to Feb. 4 …

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EU has failed to create gold standard for green finance, Spain says

9 Feb 2022

By Isla Binnie and Kate Abnett MADRID/BRUSSELS (Reuters) – European countries and companies could end up defining their own standards on green investments if Brussels fails to impose the “gold standard” and classifies spending on gas and nuclear energy as sustainable, a Spanish minister said on Wednesday. The European Union has split opinion among member …

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Texas OKs $3.4 billion in bonds to spread natgas costs from February 2021 freeze

9 Feb 2022

By Scott DiSavino (Reuters) – The Texas Railroad Commission (RRC), which regulates the state’s oil and natural gas industries, approved a financing order worth roughly $3.4 billion to prevent spikes in gas bills for over 4.2 million homes and businesses from last February’s Winter Storm Uri. This is one of several measures taken by Texas …

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