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March 5, 2021

Economic News (3rd Party)

White House: Biden believes U.S. authorizations for military force need updating

Reuters
FILE PHOTO: U.S. President Joe Biden holds a meeting on infrastructure with members of Congress in the Oval Office at the White House in Washington, U.S., March 4, 2021. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Joe Biden believes that authorizations for the use of military force that have been......

Swiss plan free coronavirus tests for population

Reuters
ZURICH (Reuters) – Switzerland unveiled a 1 billion Swiss franc ($1.08 billion) plan on Friday to offer free coronavirus tests for its entire population as part of measures to ease the country’s exit from COVID-19 restrictions. FILE PHOTO: A woman sits in front of a COVID-19 testing site of the......

Olympics: Tokyo 2020 chief vows to revive public passion for Games

Reuters
TOKYO (Reuters) – Tokyo 2020 President Seiko Hashimoto promised on Friday to revive the Japanese people’s passion for the Summer Olympics and “turn their concerns into excitement.” FILE PHOTO: Seiko Hashimoto, President of the Tokyo 2020 Organising Committee, speaks during a media briefing after a council meeting in Tokyo, Japan......

Goldman hikes Brent forecast, says ‘shale discipline’ behind OPEC strategy

Reuters
FILE PHOTO: A drilling rig is seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo (Reuters) – Goldman Sachs Commodities Research raised its Brent forecast for second and third quarter by $5 a barrel after OPEC and......

China pledges to deepen reform of disease control and prevention

Reuters
Chinese Premier Li Keqiang speaks at the opening session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, China March 5, 2021. REUTERS/Carlos Garcia Rawlins BEIJING (Reuters) – China will improve the system for responding to public health emergencies and providing emergency supplies, the......

Nearly 160 million U.S. households to get virus stimulus checks: White House

Reuters
White House Press Secretary Jen Psaki answers a question from a journalist during a press briefing at the White House in Washington, U.S., March 4, 2021. REUTERS/Tom Brenner WASHINGTON (Reuters) – A total of 158.5 million households would receive direct payments under the Senate version of a $1.9 trillion coronavirus......

UK construction industry rebounds in February: PMI

Reuters
FILE PHOTO: Construction cranes are seen with St Paul’s Cathedral and the shard skyscraper nearby, in the city of London, Britain, August 10, 2020. REUTERS/Toby Melville LONDON (Reuters) – Britain’s construction industry perked up more than expected in February, helped by a return to growth in the commercial sector as......

Analysis: Global bond rout puts BOJ’s yield curve control in spotlight

Reuters
TOKYO (Reuters) – The Bank of Japan’s success in controlling the shape of the bond market’s yield curve could tempt other central banks to consider deploying similar tactics as they grapple with a rise in borrowing costs that could cripple their economies. FILE PHOTO: A man wearing a protective mask......

U.S. mortgage rates jump by most in nearly a year: MBA

Reuters
FILE PHOTO: Real estate signs advertise new homes for sale in multiple new developments in York County, South Carolina, U.S., February 29, 2020. REUTERS/Lucas Jackson (Reuters) – U.S. mortgage rates jumped by the most in nearly a year last week to their highest level since July on the heels of......

Britain raises contactless limit as COVID accelerates electronic payments

Reuters
LONDON (Reuters) – Britain is more than doubling to 100 pounds the limit on contactless payments made with debit or credit cards, the finance ministry said on Wednesday, as COVID-19 accelerates a shift to electronic payments from cash. The finance ministry said that while legally in force from Wednesday, the......

Australian economy storms ahead as COVID recovery turns ‘V-shaped’

Reuters
SYDNEY (Reuters) – Australia’s economy expanded at a much faster-than-expected pace in the final quarter of last year and all signs are that 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus. FILE PHOTO: Ships waiting to be loaded with iron ore are seen......

Texas governor lifts state’s mask mandate, says all businesses may open

Reuters
FILE PHOTO: Texas Governor Greg Abbott speaks at the annual National Rifle Association (NRA) convention in Dallas, Texas, U.S., May 4, 2018. REUTERS/Lucas Jackson/File Photo (Reuters) – Texas Governor Greg Abbott said on Tuesday that his state’s mask mandate will be lifted and all businesses will be allowed to open......

Fed’s Daly calls for ‘patience,’ says too-low inflation costly

Reuters
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Tuesday pushed back against the fear that easy Fed policy could bring on unwanted inflation,......

Mexican president says he and Biden exchanged invitations to visit

Reuters
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Tuesday that he and his U.S. counterpart Joe Biden invited each other to visit their respective countries during a virtual meeting the two held on Monday. Lopez Obrador was speaking at his regular morning news conference. Reporting by......

U.S. Senate to begin debating COVID-19 bill this week -Schumer

Reuters
FILE PHOTO: U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters in The Senate Reception Room during the second day of Trump’s second impeachment trial in Washington, U.S., February 10, 2021. Brandon Bell/Pool via REUTERS WASHINGTON (Reuters) – The U.S. Senate will begin debating President Joe Biden’s $1.9 trillion......

U.S. manufacturing sector at three-year high, cost pressures mounting: ISM

Reuters
WASHINGTON (Reuters) – U.S. manufacturing activity increased to a three-year high in February amid an acceleration in new orders, but factories continued to face higher costs for raw materials and other inputs as the pandemic drags on. The Institute for Supply Management (ISM) said on Monday its index of national......

UK consumer credit slumped as new lockdown hit in January: BoE

Reuters
FILE PHOTO: A general view shows The Bank of England in the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley//File Photo LONDON (Reuters) – British consumer borrowing fell at its fastest pace in January since May last year as the country went back into a......

Cloud tech use in forex trading to soar by 2025: survey

Reuters
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) – A bulk of the trading in the $6.6 trillion-a-day foreign exchange markets is expected to be on cloud technology over the......

South Africa signs J&J vaccine deal, eases restrictions

Reuters
JOHANNESBURG (Reuters) – South Africa has signed an agreement with Johnson & Johnson to secure 11 million COVID-19 vaccine doses and will ease restrictions due to a decline in new cases, President Cyril Ramaphosa said on Sunday. FILE PHOTO: A worker looks on as the second delivery of the Johnson......

UK’s Sunak to provide 5 billion pounds of grants to pandemic hit businesses in budget

Reuters
LONDON (Reuters) – British finance minister Rishi Sunak will announce 5 billion pounds ($7 billion) of additional grants to help businesses hit hard by pandemic lockdowns in his budget statement next week, the government said on Saturday. Shops, bars, clubs, hotels, restaurants, gyms and hair salons would be among nearly......

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