Category: Economy
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Central banks need a word with budget masters: Mike Dolan
By Mike Dolan LONDON (Reuters) -If a re-emerging risk premium in bonds is down to government debt sustainability worries, central banks may need to lobby their Treasuries that it’s undermining their control of credit. U.S. Federal Reserve officials are puzzling over why bond borrowing rates spiked lately even as Fed policy expectations have remained largely…
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World wine output to fall to lowest in 60 years
PARIS (Reuters) -World wine production is expected to fall to its lowest level in 60 years in 2023 due to poor harvests in the Southern Hemisphere and in some major European producers, the International Organisation of Vine and Wine (OIV) said on Tuesday. In initial projections, the OIV pegged world wine output, excluding juices and…
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U.S. blacklists a dozen Russian firms over drone work
(Reuters) – The Biden administration on Thursday added 12 Russian companies to a trade blacklist for supporting Russia’s military with drones that could be used to aid in Moscow’s invasion of Ukraine, the Commerce Department said in a statement. The companies added to the list, which include Hartis DV LLC and Alfakomponent, will effectively be…
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Stocks drag despite tech lift as inflation lingers
By Lawrence Delevingne (Reuters) -Global shares struggled on Friday despite a lift from technology giants, while benchmark Treasury yields and the dollar saw little change as data confirmed U.S. inflation remained high, but in line with forecasts. Underlying inflation picked up last month, largely driven by housing costs, a U.S. Commerce Department report showed. But…
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Schwab survey finds more investors looking to embrace ETFs
By Suzanne McGee (Reuters) – Nearly half of investors who have not yet added exchange-traded funds (ETFs) to their portfolios say they are likely to change their minds, according to a Schwab Asset Management survey released on Thursday. Forty-eight percent of survey respondents who said they had not yet bought an ETF said they would…
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US new home sales tumble in August
WASHINGTON (Reuters) – Sales of new U.S. single-family homes fell more than expected in August as the rate on the popular 30-year fixed mortgage jumped above 7%, driving potential buyers to the sidelines. New home sales plunged 8.7% to a seasonally adjusted annual rate of 675,000 units last month, the Commerce Department said on Tuesday.…
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Yuan loses core support as firms leave China
By Samuel Shen and Tom Westbrook SHANGHAI/SYDNEY (Reuters) -Since China opened to foreign investment in 1978 under Deng Xiaoping, global firms have ploughed in hundreds of billions of dollars to buy and build factories for market access and cheap labour, bolstering the Chinese currency. A gentle downtrend in foreign direct investment gave way to a…
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Wall St closes up, regains ground as US inflation report nears
By David French (Reuters) – U.S. stocks finished higher on Monday, regaining some of the ground lost last week, as investors added positions ahead of Thursday’s highly awaited U.S. inflation report. The main stock indexes ended last week lower as investors took profits after months of gains due to worries over economic data, mixed earnings…
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Rainy July hurts UK retailers: spending growth slowest in 11 months
LONDON (Reuters) – British retailers suffered from heavy rain in July on top of the impact of high inflation with sales growth dropping to an 11-month low, a survey showed on Tuesday. The British Retail Consortium (BRC) said retail sales values rose by 1.5% compared with July last year, less than half the 12-month average…
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Marketmind: Awaiting another China exports slump
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Wall Street and world stocks may have shrugged off a spike up in long-term U.S. bond yields on Monday, but investors in Asia are likely to be in more cautious mood on Tuesday as they…