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July 11, 2020

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Reuters - Business

IMF says deeper-than-expected contraction in U.S. economy likely in second quarter

Reuters
by Reuters019
WASHINGTON (Reuters) – A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the IMF said on Thursday. FILE PHOTO: The One World Trade Center and the......
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Sharp learning curve for bosses as WFH goes global

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by Reuters015
Two weeks into the coronavirus lockdown and Sergei Holmeckis, a boss at Deutsche Telekom’s Czech operations in the city of Brno, was frustrated with staff video calls. His team didn’t like turning on their cameras and the discussion was stilted. Source – For more click here To Return to the......
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Dollar treads water on Fed views, geopolitics

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by Reuters012
LONDON (Reuters) – The dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar. FILE PHOTO: U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis......
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Dollar firm after U.S. retail sales jump, risk currencies softer

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by Reuters023
TOKYO (Reuters) – The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, 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......
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Instant View: Powell: No U.S. growth recovery until epidemic controlled

Reuters
by Reuters016
(Reuters) – A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday as he began the first of two days of hearings before U.S. lawmakers. FILE PHOTO: Federal......
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Fed launches long-awaited Main Street lending program, seeks to reach nonprofits

Reuters
by Reuters014
NEW YORK (Reuters) – The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic. FILE PHOTO: Federal Reserve Board building on......
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Fed launches long-awaited Main Street lending program

Reuters
by Reuters016
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo NEW YORK (Reuters) – The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex......
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New York manufacturing activity unexpectedly stabilizes in June

Reuters
by Reuters014
FILE PHOTO: A woman runs past the Charging Bull sculpture in the Financial District as streets remain less busy due to the continuing outbreak of the coronavirus disease (COVID-19) in the Manhattan borough of New York U.S., May 5, 2020. Picture taken May 5, 2020 at 6:42PM. REUTERS/Lucas Jackson NEW......
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Systemic racism slows down economic growth, Dallas Fed chief says

Reuters
by Reuters017
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir WASHINGTON (Reuters) – Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan......
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Systemic racism slows economic growth: Dallas Fed chief Kaplan

Reuters
by Reuters014
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir WASHINGTON (Reuters) – Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan......
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Possible Fed move to cap yield rise could further weaken U.S. dollar

Reuters
by Reuters017
NEW YORK (Reuters) – The U.S. dollar would probably come under further pressure if the Federal Reserve adopts targets for U.S. Treasury yields that would limit their rise and ensure that interest rates remain near zero for some time. FILE PHOTO: A bank employee counts US dollar notes in this......
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U.S. inflation subdued with economy in recession

Reuters
by Reuters015
WASHINGTON (Reuters) – U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic. FILE PHOTO: A shopkeeper works inside his retail store as the phase one reopening of......
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Fed sees growth contracting by 6.5% on year, pledges bondbuying at least ‘at current pace’

Reuters
by Reuters013
Federal Reserve Board Chairman Jerome Powell presents the Monetary Policy Report to Senate Banking Committee during a hearing on The Semiannual Monetary Policy Report to the Congress on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday repeated its......
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Bank of England ready to replenish its COVID-19 warchest

Reuters
by Reuters020
LONDON (Reuters) – The Bank of England looks set to give itself at least another 100 billion pounds ($127 billion) in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain’s economy. FILE PHOTO: People wearing masks walk past the Bank of England,......
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Fed easing speculation keeps dollar under pressure

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by Reuters024
LONDON (Reuters) – The euro held below a three-month high against the dollar amid speculation the U.S. Federal Reserve might announce more steps to check a recent rise in bond yields later on Wednesday. FILE PHOTO: A U.S. dollar note is seen in front of a stock graph in this......
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With crisis response in place, Fed looks to long term

Reuters
by Reuters016
WASHINGTON (Reuters) – The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery. FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve......
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China factory gate deflation deepens on global demand slump

Reuters
by Reuters015
BEIJING (Reuters) – China’s producer prices fell by the sharpest rate in more than four years, underscoring pressure on the manufacturing sector as the COVID-19 pandemic reduces trade flows and global demand. FILE PHOTO: An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang......
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Explainer: How will Britain pay for coronavirus borrowing?

Reuters
by Reuters020
LONDON (Reuters) – British government borrowing is soaring to levels not seen since World War Two, something Prime Minister Boris Johnson and his finance minister Rishi Sunak will try to fix once the worst of the coronavirus crisis has passed. FILE PHOTO: Britain’s Prime Minister Boris Johnson speaks during a......
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IBM exits facial recognition business, calls for police reform

Reuters
by Reuters014
FILE PHOTO: A man stands near an IBM logo at the Mobile World Congress in Barcelona, Spain, February 25, 2019. REUTERS/Sergio Perez WASHINGTON (Reuters) – International Business Machines Corp (IBM.N) disclosed Monday it will no longer offer facial recognition or analysis software in a letter to Congress calling for new......
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Reuters - Business

It’s official: U.S. economy entered recession in February

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by Reuters017
(Reuters) – The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday. FILE PHOTO: A pedestrian walks on an empty street......
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