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News
Canada’s second quarter GDP recovers sharply as domestic demand revives, exports grow
1+ hour, 40+ min ago (468+ words) OTTAWA, Aug 28 (Reuters) – Canada’s economy rebounded sharply in the second quarter after six months of virtually no growth, aided by strong jump in exports and solid domestic demand, data showed on Friday. The economy grew at an annualized rate of…...
Bank of Canada to hold rates for another year, wait for more stability on trade: Reuters poll
2+ hour, 27+ min ago (534+ words) BENGALURU, Aug 28 (Reuters) – The Bank of Canada will keep its overnight rate at 2.25% on Wednesday and leave it unchanged for at least another year, according to a Reuters poll of economists who have not changed their outlook following the suspension…...
Didi plans to invest over $200 million in Argentina, manager says
4+ hour ago (274+ words) BUENOS AIRES, Aug 28 (Reuters) – Chinese ride-hailing company Didi Global expects to invest more than $200 million in Argentina this year to launch new services in smaller cities and develop safety technology, its country manager told Reuters. The company is seeking to…...
Russia’s Sberbank sees more rate cuts, higher growth this year despite Ukrainian attacks
5+ hour, 36+ min ago (329+ words) MOSCOW, Aug 28 (Reuters) – Russia’s central bank will continue cutting its key rate, lowering it to 13.5% from 14% by the end of this year, Sberbank’s chief economist Alexander Isakov told Reuters, despite Ukrainian attacks on economic targets. Sberbank, Russia’s largest lender, also…...
Will Warsh’s Jackson Hole speech be a course correction or detour?
9+ hour, 16+ min ago (772+ words) JACKSON HOLE, Wyoming, Aug 28 (Reuters) – Federal Reserve Chairman Kevin Warsh will address an audience of international economists and central bankers on Friday, with investors globally watching for him to offer more details about the economy, recent volatility in bond markets,…...
Morning Bid: Warsh heads into Jackson Hole hot seat
9+ hour, 47+ min ago (290+ words) All eyes are on a speech from the world’s most powerful central banker later on Friday, with investors focused on what Federal Reserve Chair Kevin Warsh says about inflation and, specifically, how he intends to get it back down to…...
Shares turn cautious ahead of Warsh speech; FX, bonds hold breath
12+ hour, 22+ min ago (517+ words) SYDNEY, Aug 28 (Reuters) – Shares in Asia turned cautious on Friday after a Nvidia-fuelled technology rally, while currency and bond markets held their breath for the world’s most powerful central banker to speak on U.S. interest rates. Oil prices were…...
Brazil’s inflation cools as prices post first monthly decline in a year
2+ day, 1+ hour ago (250+ words) SAO PAULO, Aug 26 (Reuters) – Brazil’s annual inflation slowed more than expected in the 12 months through mid-August as consumer prices posted their first monthly decline in a year, reinforcing signs that price pressures are easing in Latin America’s largest economy. The…...
Fed seen a bit more likely to hike after inflation data
2+ day, 47+ min ago (202+ words) Aug 26 (Reuters) – The case for a Federal Reserve interest-rate hike gained a little steam on Wednesday after a government report showed inflation in July was a touch stronger than economists had expected. The 12-month gain in the personal consumption expenditures…...
Anxious investors hope for clarity on Warsh’s Fed plan at Jackson Hole
2+ day, 4+ hour ago (611+ words) By Gertrude Chavez-Dreyfuss and Fergal Smith NEW YORK/TORONTO, Aug 26 (Reuters) – Investors this week will watch the annual Jackson Hole symposium for clues on how policymakers plan to navigate a landscape in which higher Treasury yields could do some of…...