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February 25, 2020
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Take Five: ‘Our currency, your problem’ – all over again

Reuters
(Reuters) – FILE PHOTO: U.S. dollar banknotes are pictured at a currency exchange office in Diyarbakir, Turkey, November 17, 2017. REUTERS/Sertac Kayar 1/ KING DOLLAR The dollar juggernaut rolls on. The U.S. currency =USD has rocketed to a near three-year high versus the euro, a 10-month high against the yen......
Reuters - Business

Take Five: ‘Our currency, your problem’ – all over again

Reuters
(Reuters) – 1/KING DOLLAR Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 6, 2020. REUTERS/Lucas Jackson The dollar juggernaut rolls on. The U.S. currency has rocketed to a near three-year high versus the euro EUR=, a 10-month......
Reuters - Business

U.S. weekly jobless claims rise slightly; mid-Atlantic factory activity accelerates

Reuters
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment. A “Now Hiring” sign sits in the window of Insomnia Cookies in Cambridge, Massachusetts,......
Reuters - Business

China stimulus hints, slowing spread of virus lift stocks

Reuters
LONDON (Reuters) – A decline in the number of new coronavirus cases in China and mounting expectations for more policy stimulus boosted global stock markets on Wednesday, helping ease some of the alarm caused by an Apple revenue warning. FILE PHOTO: The German share price index DAX graph is pictured......
Reuters - Business

Recession risk forces BOJ to row back on inflation goal

Reuters
TOKYO (Reuters) – The widening economic fallout from the coronavirus outbreak and soft consumption are forcing the Bank of Japan to message more strongly that it is no longer inclined to chase its elusive 2% inflation target, sources familiar with its thinking say. A man wearing a protective face mask......
Reuters - Business

Chinese support measures buoy world stocks

Reuters
LONDON (Reuters) – Global shares were buoyant on Monday as the promise of further policy stimulus from China to counteract the economic hit from a coronavirus outbreak calmed nervous investors. Trading was light, with U.S. stocks and bond markets shut for a public holiday. Both the pan-European STOXX 600 index......
Reuters - Business

European stocks climb to record on hopes of limited coronavirus economic hit

Reuters
LONDON (Reuters) – Stock markets across the world ticked higher on Friday, as investors bet that the damage to the global economy from China’s coronavirus outbreak would not be long-lasting. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby......
Reuters - Business

Chinese economy clobbered by coronavirus but set to recover soon: Reuters poll

Reuters
(Reuters) – The coronavirus-hit Chinese economy will grow at its slowest rate since the financial crisis in the current quarter, according to a Reuters poll of economists who said the downturn will be short-lived if the outbreak is contained. Workers wearing face masks rope a container ship at a port......
Reuters - Business

Oil jumps as fall in new China coronavirus cases eases fuel demand concerns

Reuters
SEOUL (Reuters) – Oil prices extended gains on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic. FILE PHOTO: General view of the Fos-Lavera oil......
Reuters - Business

Oil jumps as slowdown in new China coronavirus cases eases fuel demand concerns

Reuters
SEOUL (Reuters) – Oil prices climbed on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic. FILE PHOTO: General view of the Fos-Lavera oil hub......
Reuters - Business

China firms cut staff on virus outbreak as Xi vows no large-scale layoffs

Reuters
SHANGHAI (Reuters) – A Chinese media company said it will lay off 500 employees due to the coronavirus outbreak, the latest among a string of firms to do so in the past two weeks as the epidemic takes a toll on small-to-medium sized businesses. FILE PHOTO: People wearing face masks......
Reuters - Business

Blue collar boom? College grads, baby boomers big winners in Trump’s economy

Reuters
WASHINGTON (Reuters) – U.S. President Donald Trump rolled out an eye-catching statistic in his State of the Union address Tuesday: the wealth held by the poorest half of American households increased three times as fast as the wealth held by the “1%” since he became president. U.S. President Donald Trump......
Reuters - Business

Fed says risks to economy easing, but calls out coronavirus in report to Congress

Reuters
WASHINGTON (Reuters) – A “moderately” expanding U.S. economy was slowed last year by a manufacturing slump and weak global growth, but key risks have receded and the likelihood of recession has declined, the U.S. Federal Reserve said in its latest monetary policy report to the U.S. Congress. “Downside risks to......
Reuters - Business

Mild weather boosts U.S. job growth; jobless rate ticks up

Reuters
WASHINGTON (Reuters) – U.S. job growth accelerated in January, with unseasonably mild temperatures boosting hiring in weather-sensitive sectors, indicating the economy will probably continue to grow moderately despite a deepening slump in business investment. FILE PHOTO – Job seekers line up to apply during “Amazon Jobs Day,” a job fair......
Reuters - Business

Norwegian Air’s January passenger income jumps

Reuters
OSLO (Reuters) – Norwegian Air (NWC.OL) cut its capacity by a bigger-than-expected 29% in January from a year earlier, removing unprofitable routes while boosting its income from remaining flights, its traffic data showed on Wednesday. FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport, Norway November 7,......
Reuters - Business

Fedcoin? The U.S. central bank is looking into it

Reuters
PALO ALTO, Calif. (Reuters) – The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday. FILE PHOTO: Federal Reserve Chairman Jerome Powell poses for photos......
Reuters - Business

Great American Comeback? Trump’s economy has both boom and gloom

Reuters
WASHINGTON (Reuters) – The United States is in its 11th year of a record-setting economic expansion, a fact that President Donald Trump highlighted in his State of the Union speech to Congress on Tuesday. FILE PHOTO: U.S. President Donald Trump rallies with supporters in Des Moines, Iowa, U.S. January 30,......
Reuters - Business

Take Five: What’s the virus damage?

Reuters
(Reuters) – 1/SCHLOCK AND AWE IN CHINA FILE PHOTO: People walk past an electronic display showing world markets indices outside a brokerage in Tokyo, Japan, January 8, 2020. REUTERS/Issei Kato Financial markets have gone swiftly from nonchalance to awe in reacting to the fast-spreading 2019-nCoV or new coronavirus here Global......
Reuters - Business

Financial vulnerabilities could undermine effect of rate cuts: Bank of Canada

Reuters
OTTAWA (Reuters) – Financial vulnerabilities like high household debt could undermine central bank efforts to keep inflation in check, since they potentially limit the effectiveness of rate cuts, a top Bank of Canada official said on Thursday. FILE PHOTO: A sign is pictured outside the Bank of Canada building in......
Reuters - Business

Fed keeps rates steady, to tailor Treasury bill purchases later this year

Reuters
WASHINGTON (Reuters) – The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the U.S. central bank pointing to continued moderate economic growth and a “strong” job market, and giving no sign of any imminent changes in borrowing costs.......

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