Japan’s benchmark Nikkei 225 index tumbles nearly 5% after its ruling party chose Ishiba as the next prime minister
TOKYO (AP) — Japan’s benchmark Nikkei 225 index tumbles nearly 5% after its ruling party chose Ishiba as the next prime minister.
TOKYO (AP) — Japan’s benchmark Nikkei 225 index tumbles nearly 5% after its ruling party chose Ishiba as the next prime minister.
"Putin's war not only imposes on today's Russians a worse life than they otherwise would have had. It also condemns future generations."
"Anything the MAGA Republicans don't like, they call fake. Anything," Biden said.
(Bloomberg) -- A leading economist in China said the country has room to ramp up fiscal support for the economy by issuing as much as 10 trillion yuan ($1.4 trillion) in special debt, reflecting rising expectations for Beijing to expand public spending as part of its stimulus package.Most Read from BloombergThe Corner Store ComebackA Housing Crisis Brews in Rwanda’s Capital CityGang Violence Is Moving to the Amazon’s Fast-Growing CitiesA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-Hi
Vladimir Putin is all too aware that economic pressure brought down the Soviet Union as he is forced to hike defence spending and slash social benefits to fund his war in Ukraine, according to Western officials.Despite each side hoping for a breakthrough, the war is set to “grind on” in eastern Ukraine, where Russian forces this week took the strategic town of Vuhledar, and in Russia’s Kursk region following a surprise Ukrainian incursion there.Ukraine will be keeping a wary eye on November’s White House election given Donald Trump’s chilly attitude towards extending further US aid.But President Joe Biden’s administration remains determined to leave Kyiv in the “strongest possible position” with the latest funding package, one Western official said.Russian losses will continue at an average of 1,200 casualties a day, further straining the war effort given President Putin’s reluctance to widen mobilisation for fear of the impact on economic sectors where labour shortages are already rife.Russia’s central bank last month hiked its key interest rate by a full point to 19%, highlighting the inflationary pressures unleashed by the invasion of Ukraine.
(Bloomberg) -- Mohamed El-Erian says the Federal Reserve needs to renew its focus on its fight against rising prices after September’s surprisingly hot jobs report served as a reminder that “inflation is not dead.”Most Read from BloombergWhat Do US Vehicle Regulators Have Against Tiny Cars?Mexico City Restricts Airbnb Rentals to Curb ‘Gentrification’NYC Schools Reverse Course on Cell-Phone Ban After Parents BalkThe Corner Store ComebackRoofs of Mexico City’s Massive Food Market Will Power Public
B.C.'s provincial finances have gone from stable surpluses to deep deficits, and leaders contesting the upcoming election are debating whether the next government should keep spending or seek austerity.In the latest fiscal update, the province's deficit for the current fiscal year had grown by $1.1 billion to $8.979 billion since the 2024-2025 budget was tabled, the highest ever in the province.Total provincial debt is projected to be $128.6 billion by the end of the fiscal year.It's created a w
WASHINGTON (AP) — America’s employers added a surprisingly strong 254,000 jobs in September, easing concerns about a weakening labor market and suggesting that the pace of hiring is still solid enough to support a growing economy.
On the other hand, the world is a mess, inflation still lurks, and there’s a contentious election in November. Given all of that, a data-driven Fed is likely to stay the course.
Biden had not been in the White House briefing room since taking office in 2021
Wall Street has weathered an edgy start to the final quarter reasonably well this week, with the September employment report now an obvious final hurdle on Friday and firmer oil prices an irritant even as a three-day U.S. ports strike ends. As has been the case for weeks, markets are trying to find the balance between signs of persistent growth but at a pace soft enough to sustain disinflation and Federal Reserve interest rate cut hopes. Labor market soundings so far this week certainly support the former, though brisk job growth and the relatively modest oil price pop on Middle East tensions raised some questions over Fed easing speculation.
(Bloomberg) -- Former Treasury Secretary Larry Summers said the Federal Reserve’s decision to cut interest rates last month was a mistake after new data showed that US job growth last month topped all estimates.Most Read from BloombergWhat Do US Vehicle Regulators Have Against Tiny Cars?Mexico City Restricts Airbnb Rentals to Curb ‘Gentrification’NYC Schools Reverse Course on Cell-Phone Ban After Parents BalkThe Corner Store ComebackRoofs of Mexico City’s Massive Food Market Will Power Public Bu
A much better-than-expected jobs report released just hours after the quick suspension of a longshoreman’s strike is giving a boost and some relief to Vice President Harris’s campaign. The port strike had threatened to bottle up the economy and was the most politically threatening of a trio of recent challenges faced by Harris and the White…
Investors braced for a key monthly jobs report, with the Middle East crisis and a return to work at US ports also in high focus.
The Canadian dollar is forecast to extend its recovery against its U.S. counterpart in the coming year as lower borrowing costs bolster economic growth in Canada and increase investor appetite for risk, a Reuters poll found. Canada's loonie has rallied by 3.3% since hitting a near two-year low of 1.3946 per U.S. dollar, or 71.71 U.S. cents, in August. The median forecast of nearly 40 foreign exchange analysts in the Sept. 30–Oct. 2 poll showed the loonie consolidating those gains in three months, edging 0.1% lower to 1.3514, but remaining stronger than the 1.3650 expected in a September poll.
BUDAPEST, Hungary (AP) — The European Union risks entering an “economic cold war” with China, Hungary's prime minister said on Friday, pledging to vote against an EU plan to impose higher tariffs on the import of Chinese electric vehicles.
(Bloomberg) -- Sign up for the Economics Daily newsletter to discover what's driving the global economy. Most Read from BloombergWhat Do US Vehicle Regulators Have Against Tiny Cars?The Corner Store ComebackNYC Schools Reverse Course on Cell-Phone Ban After Parents BalkMexico City Restricts Airbnb Rentals to Curb ‘Gentrification’Roofs of Mexico City’s Massive Food Market Will Power Public BusesUS job growth last month topped all estimates, the unemployment rate unexpectedly declined and wage gro
(Bloomberg) -- The ever-resilient US economy is once again causing havoc for Wall Street worrywarts, who have sounded the recession alarm all year. Most Read from BloombergWhat Do US Vehicle Regulators Have Against Tiny Cars?Mexico City Restricts Airbnb Rentals to Curb ‘Gentrification’NYC Schools Reverse Course on Cell-Phone Ban After Parents BalkThe Corner Store ComebackRoofs of Mexico City’s Massive Food Market Will Power Public BusesAfter months of heated debate between stock and bond bulls o
(Bloomberg) -- The Federal Reserve is likely to downsize its rate cuts to 25 basis points at both the November and December policy meetings, according to Aichi Amemiya at Nomura Securities International.Most Read from BloombergWhat Do US Vehicle Regulators Have Against Tiny Cars?Mexico City Restricts Airbnb Rentals to Curb ‘Gentrification’NYC Schools Reverse Course on Cell-Phone Ban After Parents BalkThe Corner Store ComebackRoofs of Mexico City’s Massive Food Market Will Power Public Buses“I do
WASHINGTON (Reuters) -U.S. Federal Reserve concerns about a slowing job market were relieved for at least another month when new data on Friday showed job growth jumped and the unemployment rate fell in September, adding to investor bets the central bank will cut its benchmark rate only a quarter of a percentage point next month. In comments this week Fed Chair Jerome Powell had noted the "tension" between steady economic growth and a perceived weakening of the job market, and said it was likely jobs data would prove a better gauge of where the economy stood. On that front September's data buttressed the views of policymakers who feel the current economic expansion has momentum, and the unemployment rate, now 4.1%, able to remain around what many Fed policymakers consider to be full employment.
The U.S. Treasury said on Thursday that more than 30 million taxpayers in 24 participating states will be eligible to file their federal taxes for free next year through the Internal Revenue Service's expanded online Direct File system. The Biden administration is eager to show that its policies are saving consumers money, bolstering a key theme of Vice President Kamala Harris' run for the presidency -- to help ease high living costs. The Treasury said that Direct File could save taxpayers tens of millions of dollars in tax preparation fees during the 2025 tax filing season A pilot version of the program that started this year was funded out of the roughly $60 billion in supplemental modernization funding for the IRS approved in the 2022 Inflation Reduction Act clean energy law.