Category: Economy

By Andrea Shalal and David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen pledged U.S. support for Egypt’s economy and reforms after meeting with the North African nation’s authorities on Tuesday in Washington amid talks over expanding Egypt’s $3 billion International Monetary Fund loan program. The Egyptian officials, including the country’s finance minister and central…

By John Kemp LONDON (Reuters) -U.S. manufacturers are still struggling to emerge from the prolonged slump that began in the middle of 2022 as the pandemic-driven surge in merchandise buying subsided and consumers reverted to spending on services. Merchandise inventories have begun to normalise but companies making expensive business equipment and consumer durables are being…

By Xie Yu and Samuel Shen HONG KONG/SHANGHAI (Reuters) -Beijing has informally asked some money managers in China to prioritise the launch of equity funds over other products, four sources with direct knowledge of the matter said, as authorities scramble to revive its lagging stock market. The “window guidance”, or unofficial, verbal advice from regulators,…

By Shashwat Chauhan and Ankika Biswas (Reuters) -Europe’s benchmark stock index dropped to a three-week low in a broad-based sell-off on Wednesday, testing 2023’s rally spurred by hopes of major central banks pivoting to easier monetary policy this year. The pan-European STOXX 600 ended 0.9% lower, hitting its lowest level since Dec. 14 and logging…

By Harry Robertson LONDON (Reuters) -A huge two-month rally in bond prices, powered by expectations that central banks will soon be cutting interest rates, has rescued fixed income markets from an almost unheard-of third straight year of declines. The U.S. 10-year Treasury yield, the benchmark for borrowing costs globally, has dropped 46 basis points (bps)…

By Lawrence Delevingne and Tom Wilson (Reuters) -World shares edged up on Thursday as expectations of interest rate cuts stretched a rally in U.S. stocks, while benchmark Treasury yields and the dollar lifted slightly from five-month lows. On Wall Street, the Dow Jones Industrial Average rose 0.14%, while the Nasdaq Composite and the S&P 500…

BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad unveiled on Thursday tax adjustments to limit benefits across various sectors and ensure fiscal compensation, which are expected to face opposition in Congress. The package aims to completely replace the text of an approved bill that President Luiz Inacio Lula da Silva vetoed, just to have it…