Economy News

A man walks past an old Toronto Stock Exchange sign in Toronto

Canada stock futures point to higher start after GDP data

(Reuters) - Stock futures pointed to a higher start for Canada's main stock index on Friday after data showed the economy shrank for the fifth consecutive month in May. September futures on the S&P TSX index were up 0.21 percent at 8:45 a.m. ET. The Canadian economy shrank by 0.2 percent in May from April, strengthening the probability that the country was in recession in the first half of the ye…

  • A man walks past the London Stock Exchange in the City of London
    Commodities, China stocks lick wounds … Reuters - 1 hour 7 minutes ago

    By Marc Jones and John Geddie LONDON (Reuters) - Commodities and China investors waved a relieved goodbye to July on Friday following a brutal sell-off that has revived … More »Commodities, China stocks lick wounds …

    A man walks past the London Stock Exchange in the City of London

    By Marc Jones and John Geddie LONDON (Reuters) - Commodities and China investors waved a relieved goodbye to July on Friday following a brutal sell-off that has revived fears about the global economy and overshadowed more encouraging news from the U.S. and Europe. There were signs that the rout wasn't over yet as Chinese …

  • China's speed skater Yang Yang looks towards basketball player Yao Ming, with free skier Li Nina, during Beijing's 2022 Winter Games presentation at the 128th International Olympic Committee Session in Kuala Lumpur, Malaysia
    IOC in no mood for risks, opts for Beijing's … Reuters - 1 hour 24 minutes ago

    By Karolos Grohmann KUALA LUMPUR (Reuters) - The choice of Beijing as host of the 2022 Winter Olympics over Kazakhstan's Almaty was a solid vote for the tried and tested, … More »IOC in no mood for risks, opts for Beijing's …

    China's speed skater Yang Yang looks towards basketball player Yao Ming, with free skier Li Nina, during Beijing's 2022 Winter Games presentation at the 128th International Olympic Committee Session in Kuala Lumpur, Malaysia

    By Karolos Grohmann KUALA LUMPUR (Reuters) - The choice of Beijing as host of the 2022 Winter Olympics over Kazakhstan's Almaty was a solid vote for the tried and tested, and the financial and organizational security of China. It will not be the picture postcard Winter Olympics with mountains blanketed in deep white snow, …

  • Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid
    Uber to invest $1 billion in India to … Reuters - 5 hours ago

    (Reuters) - Uber Technologies Inc [UBER.UL] will invest $1 billion in India in the next nine months, as the online taxi-hailing company looks to expand its services in … More »Uber to invest $1 billion in India to …

    Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid

    (Reuters) - Uber Technologies Inc [UBER.UL] will invest $1 billion in India in the next nine months, as the online taxi-hailing company looks to expand its services in its biggest market outside the United States. Uber said it would use the additional investment to improve operations, expand beyond the 18 Indian cities …

  • Sun rises to the east of the U.S. Federal Reserve building in Washington
    Fed's 'nearly balanced' … Reuters - 8 hours ago

    By Howard Schneider WASHINGTON (Reuters) - The U.S. Federal Reserve will not need to see balanced risks to the economy to proceed with an interest rate hike in September, … More »Fed's 'nearly balanced' …

    Sun rises to the east of the U.S. Federal Reserve building in Washington

    By Howard Schneider WASHINGTON (Reuters) - The U.S. Federal Reserve will not need to see balanced risks to the economy to proceed with an interest rate hike in September, according to former Fed officials and a review of central bank statements through recent turns in policy. In its latest statement, released Wednesday, …

  • A Venezuelan National Guard walks in front of a truck as it leaves the facility used by Empresas Polar as a distribution center in Caracas
    Venezuela troops occupy Polar food distribution … Reuters - 13 hours ago

    By Girish Gupta CARACAS (Reuters) - Venezuelan troops occupied a Caracas warehouse complex used by local food giant Empresas Polar and Nestle to distribute food and … More »Venezuela troops occupy Polar food distribution …

    A Venezuelan National Guard walks in front of a truck as it leaves the facility used by Empresas Polar as a distribution center in Caracas

    By Girish Gupta CARACAS (Reuters) - Venezuelan troops occupied a Caracas warehouse complex used by local food giant Empresas Polar and Nestle to distribute food and beverages, workers and company officials said on Thursday. The move follows months of accusations by President Nicolas Maduro that Polar, the country's largest …

  • Zheng Liying looks at a computer screen in front of a picture of Alibaba founder Jack Ma, seen on the cover of a publication, at Zheng's Alibaba rural service centre in Jinjia Village, Tonglu
    In rural China, shoppers go online - … Reuters - 15 hours ago

    By Sue-Lin Wong TONGLU, China (Reuters) - Cheng Yonghao left his village in central Henan province almost 20 years ago, not expecting to return. Cheng is just one of … More »In rural China, shoppers go online - …

    Zheng Liying looks at a computer screen in front of a picture of Alibaba founder Jack Ma, seen on the cover of a publication, at Zheng's Alibaba rural service centre in Jinjia Village, Tonglu

    By Sue-Lin Wong TONGLU, China (Reuters) - Cheng Yonghao left his village in central Henan province almost 20 years ago, not expecting to return. Cheng is just one of an army of local recruits who are part of Alibaba Group's big bet on rural e-commerce as China's internet giants invest billions in outpost service hubs …

  • File photo of a sales assistant working in front of an advertisement for the Apple watch at an Apple reseller shop in Bangkok
    Sultans of shrink pack more chips into … Reuters - 15 hours ago

    By Michael Gold TAIPEI (Reuters) - The latest chapter in the miniaturisation of increasingly smart consumer electronics lies in the hands of chip packagers, an indispensable … More »Sultans of shrink pack more chips into …

    File photo of a sales assistant working in front of an advertisement for the Apple watch at an Apple reseller shop in Bangkok

    By Michael Gold TAIPEI (Reuters) - The latest chapter in the miniaturisation of increasingly smart consumer electronics lies in the hands of chip packagers, an indispensable group of firms whose role in the supply chain alone is worth $27 billion. Packagers like Taiwan's Advanced Semiconductor Engineering Inc (ASE) receive …

  • A red London bus passes the Stock Exchange  in London
    Gathering rate hike hopes lift dollar, … Reuters - 16 hours ago

    By Michael Connor NEW YORK (Reuters) - The dollar touched one-week highs and shorter-term U.S. Treasury yields rose on Thursday as accelerating U.S. gross domestic product … More »Gathering rate hike hopes lift dollar, …

    A red London bus passes the Stock Exchange  in London

    By Michael Connor NEW YORK (Reuters) - The dollar touched one-week highs and shorter-term U.S. Treasury yields rose on Thursday as accelerating U.S. gross domestic product data encouraged bets policymakers will start hiking U.S. interest rates as soon as September. Wall Street ended mostly higher but gains were muted …

  • IMF Managing Director Lagarde talks to Greek Finance Minister Tsakalotos during a euro zone finance ministers meeting in Brussels
    Greece, Europeans must reach deeper … Reuters - 20 hours ago

    By Jason Lange WASHINGTON (Reuters) - The International Monetary Fund can only approve new loans for Greece after Athens reaches an agreement with European governments … More »Greece, Europeans must reach deeper …

    IMF Managing Director Lagarde talks to Greek Finance Minister Tsakalotos during a euro zone finance ministers meeting in Brussels

    By Jason Lange WASHINGTON (Reuters) - The International Monetary Fund can only approve new loans for Greece after Athens reaches an agreement with European governments that would ensure it can pay its debts, an IMF official said on Thursday. "The IMF can only support a program that is comprehensive," the official said …

  • U.S. economy rebounds with 2.3% growth … CBC - 20 hours ago

    A surge in consumer spending and some recovery in the export sector, which was hard hit by a port strike early in 2015, helped spur U.S. growth. The Commerce Department … More »U.S. economy rebounds with 2.3% growth …

    A surge in consumer spending and some recovery in the export sector, which was hard hit by a port strike early in 2015, helped spur U.S. growth. The Commerce Department also revised GDP growth for the January to March period, saying the U.S. economy did not contract, but grew by a modest 0.6 per cent. U.S. economists …

  • A customer shops at the Wal-Mart Neighborhood Market in Bentonville
    Consumer spending bolsters U.S. second-quarter … Reuters - 21 hours ago

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending … More »Consumer spending bolsters U.S. second-quarter …

    A customer shops at the Wal-Mart Neighborhood Market in Bentonville

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year. "This was a very constructive …

  • An illustration picture shows the logo of car-sharing service app Uber on a smartphone next to the picture of an official German taxi sign
    Uber launches car leasing unit, makes … Reuters - Wed, 29 Jul, 2015

    By Dan Levine SAN FRANCISCO (Reuters) - Uber Technologies has launched its own auto leasing subsidiary in an effort to sign up more drivers, injecting the fast-growing … More »Uber launches car leasing unit, makes …

    An illustration picture shows the logo of car-sharing service app Uber on a smartphone next to the picture of an official German taxi sign

    By Dan Levine SAN FRANCISCO (Reuters) - Uber Technologies has launched its own auto leasing subsidiary in an effort to sign up more drivers, injecting the fast-growing ride services company directly into the financial services sector for the first time. The move by Uber, announced as a pilot project on Wednesday, follows …

  • Where to travel with the falling Canadian dollar
    Where to travel with the falling Canadian … CBC - Wed, 29 Jul, 2015

    Trips to their favourite destination, the U.S., will cost about 10 per cent more than at the beginning of the year, since the Canadian dollar fell from about 86 cents … More »Where to travel with the falling Canadian …

    Where to travel with the falling Canadian dollar

    Trips to their favourite destination, the U.S., will cost about 10 per cent more than at the beginning of the year, since the Canadian dollar fell from about 86 cents U.S. to 78 cents. CBC News looked at the Canadian dollar's performance compared to 20 other major currencies and found just three countries where the Canadian …

  • Traders work on the floor of the New York Stock Exchange
    Global stocks, dollar gain as Fed sees … Reuters - Wed, 29 Jul, 2015

    By Herbert Lash NEW YORK (Reuters) - Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that … More »Global stocks, dollar gain as Fed sees …

    Traders work on the floor of the New York Stock Exchange

    By Herbert Lash NEW YORK (Reuters) - Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that said the U.S. economy continues to strengthen, adding to expectations an interest rate hike is getting closer. Fed officials said they felt the U.S. economy …

  • A man walks past an old Toronto Stock Exchange sign in Toronto
    TSX jumps as investors cheer oil data; … Reuters - Wed, 29 Jul, 2015

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index jumped on Wednesday, helped by gains in banks, railways and oil companies as crude prices bounced from … More »TSX jumps as investors cheer oil data; …

    A man walks past an old Toronto Stock Exchange sign in Toronto

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index jumped on Wednesday, helped by gains in banks, railways and oil companies as crude prices bounced from near six-month lows and the Federal Reserve left the door open for a September interest rate hike. The U.S. central bank said the economy and job market …

  • Alberta and Saskatchewan will soon see a 'sharp' increase in the number of people falling behind on their debts for the rest of this year, credit agency TransUnion says. The debt monitor said in a study released Wednesday that it is expecting the number of consumer credit delinquencies to increase by double-digits in Saskatchewan, …

  • The U.S. Federal Reserve is marking solid job gains and a pickup in household spending and the housing sector, but has left its benchmark interest rate unchanged after its latest meeting. Investors typically scrutinize Fed statements for changes of language that might indicate when it plans to raise interest rates. The …