Economy
Japan Inc set to offer bumper pay hikes, paving way for BOJ stimulus exit By Reuters
By Tetsushi Kajimoto TOKYO (Reuters) - Big Japanese companies look set to formally offer hefty pay hikes at annual wage talks with unions that wrap…
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Chile’s economy stagnant in most optimistic scenario for 2023 -cenbank
SANTIAGO (Reuters) -Chile's central bank on Wednesday lowered the top end of its estimate for the country's economic performance in…
Fed’s Williams says monetary policy is in a ‘good place,’ recession talk ‘has vanished’
New York Fed President John Williams on Thursday sounded content with the current level of interest rates, but said he…
Fed’s Collins says now is time to be patient, deliberate with policy
By Michael S. Derby (Reuters) - Federal Reserve Bank of Boston President Susan Collins said Wednesday that while there are…
Chicago Fed’s Goolsbee suggests central bank is almost done raising rates
Chicago Fed President Austan Goolsbee on Thursday suggested the Fed is almost done raising interest rates. “We are very rapidly…
China bans government officials from using iPhones for work – WSJ
(Reuters) -China ordered officials at central government agencies not to use Apple (NASDAQ:)'s iPhones and other foreign-branded devices for work…
US services sector picked up in August, along with prices
(Reuters) - The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices…
Google to political advertisers using AI: Be ‘clear’ about any digitally created content
Google and YouTube have created new rules ahead of the 2024 election cycle for political advertisements that use artificial intelligence…
Bank of Canada holds interest rate 5%, warns of more tightening
TORONTO (Reuters) - The Bank of Canada on Wednesday held its key overnight interest rate at 5%, noting the economy…
Senate approves Adriana Kugler as first Latino to hold top Federal Reserve job
The U.S. Senate on Wednesday confirmed Adriana Kugler to a seat on the seven member Federal Reserve board of governors.…
Saudi Arabia’s 2023 GDP growth to slow due to longer oil cuts – IMF
DUBAI (Reuters) - Saudi Arabia's overall gross domestic product growth is likely to be lower than the currently forecast 1.9%…
Lawmakers probe insurance crisis as premiums skyrocket
The cost to insure a home has soared in many U.S. states in recent years, and lawmakers in Washington are…
IMF expects Saudi GDP growth to slow on extended oil output cuts
By Rachna Uppal and Yousef Saba DUBAI (Reuters) -The International Monetary Fund (IMF) expects GDP growth in Saudi Arabia to…
Bank of Canada holds rates but says further hikes possible
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada (BoC) on Wednesday held its key overnight interest…
The ‘housing market appears to be stuck,’ as mortgage rates stay over 7%
Mortgage rates remain over 7% as the U.S. economy continues to show signs of strength. The 30-year fixed-rate mortgage averaged…
Global watchdog warns over ‘very high leverage’ in hedge funds
By Huw Jones LONDON (Reuters) - Leverage is now very high in parts of the $7 trillion hedge fund sector,…
WeWork begins to renegotiate leases globally
(Reuters) -WeWork said on Wednesday it has started a process of global engagement with landlords to renegotiate nearly all its…
U.S. unit labor costs higher in second quarter than initially thought
Unit-labor costs, a gauge of wage inflation, rose at a revised 2.2% annual rate in the second quarter, up from…
Factbox-How the EU’s Digital Markets Act challenges Big Tech
By Martin Coulter LONDON (Reuters) - New European Union rules will rewrite the basic tenets of business on the internet…