New York Fed researchers develop climate stress test for banks

(Reuters) – Researchers at the New York Federal Reserve Bank have developed an approach to measuring banks’ exposures to climate-related risks, a possible early step toward assessing whether financial institutions have enough capital on hand to withstand them.FILE PHOTO: A man walks by the Federal Reserve Bank of New York Building in New York City,… Continue reading New York Fed researchers develop climate stress test for banks

U.S. new home sales beat expectations in August

FILE PHOTO: A “For Sale” sign is posted outside a residential home in the Queen Anne neighborhood near the Space Needle in Seattle, Washington, U.S. May 14, 2021. REUTERS/Karen DuceyWASHINGTON (Reuters) – Sales of new U.S. single-family homes rose more than expected in August, but there are signs that housing market momentum is slowing as… Continue reading U.S. new home sales beat expectations in August

U.S. business borrowing for equipment rises 21% in August – ELFA

FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon(Reuters) – Borrowings by U.S. companies for capital investments rose 21% in August from a year earlier, the Equipment Leasing and… Continue reading U.S. business borrowing for equipment rises 21% in August – ELFA

How the Fed's policy statement has changed this year

(Reuters) – The Federal Reserve now says its $120 billion in monthly bond purchases are on the way out as the U.S. economy improves despite the persistence of the coronavirus pandemic.FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, U.S., May 1, 2020. REUTERS/Kevin Lamarque/File PhotoThe shift in policy has… Continue reading How the Fed's policy statement has changed this year

Fed's Powell: 'no one' happy with fellow policymakers' trading

(Reuters) -U.S. Federal Reserve Chair Jerome Powell said on Wednesday he was displeased with the active investing carried out by two Fed regional bank presidents and pledged the central bank’s ethics rules will be tightened after a thorough review.FILE PHOTO: Federal Reserve Chair Jerome Powell takes his seat to testify before a Senate Banking, Housing… Continue reading Fed's Powell: 'no one' happy with fellow policymakers' trading

Republican congressman who voted to impeach Trump won't seek re-election

Slideshow ( 2 images )WASHINGTON (Reuters) – U.S. Republican Representative Anthony Gonzalez, who voted to impeach former President Donald Trump, said on Thursday he will not seek re-election next year. A two-term lawmaker from Ohio and former professional football player, Gonzalez would have faced a primary challenger backed by Trump had he decided to run.… Continue reading Republican congressman who voted to impeach Trump won't seek re-election

Australia made 'huge' mistake' cancelling submarine deal, says French ambassador

MELBOURNE (Reuters) – Australia has made a “huge” diplomatic error, the French ambassador said on Saturday having been recalled to Paris after Canberra ditched a multi billion dollar order for French submarines in favour of an alternative deal with the United States and Britain. “I think this has been a huge mistake, a very, very… Continue reading Australia made 'huge' mistake' cancelling submarine deal, says French ambassador

November? December? Fed's 'taper' timeline tied to volatile jobs data

WASHINGTON (Reuters) – The Federal Reserve, facing a labor market that may be stalling or on the cusp of a surge, is expected next week to open the door to reducing its monthly bond purchases while tying any actual change to U.S. job growth in September and beyond.FILE PHOTO: The Federal Reserve building is set… Continue reading November? December? Fed's 'taper' timeline tied to volatile jobs data

U.S. FDA advisers recommend COVID-19 boosters for 65 and older after rejecting broad approval

(Reuters) – Advisers to the U.S. Food and Drug Administration voted on Friday to recommend COVID-19 vaccine booster shots for Americans 65 and older and those at high risk of severe illness, after overwhelmingly rejecting a call for broader approval.FILE PHOTO: Sister Barbara Sullivan, 84, receives a coronavirus disease (COVID-19) vaccine at a vaccination drive… Continue reading U.S. FDA advisers recommend COVID-19 boosters for 65 and older after rejecting broad approval

Australia agrees to increased U.S. air deployments after sub deal

WASHINGTON (Reuters) – Australia and the United States announced expanded military cooperation on Thursday, including rotational deployments of all types of U.S. military aircraft to Australia, a day after announcing a submarine deal denounced by China as intensifying a regional arms race. hereAustralian Minister of Defense Peter Dutton, poses for a group photograph with Australian… Continue reading Australia agrees to increased U.S. air deployments after sub deal

Biden enlists Disney, Microsoft CEOs in push for vaccine mandates

WASHINGTON (Reuters) -U.S. President Joe Biden met on Wednesday with U.S. CEOs and other top business leaders as he pushes companies to require workers to be inoculated against COVID-19 amid a surge in infections among the unvaccinated.FILE PHOTO: U.S. President Joe Biden delivers remarks on the Delta variant and his administration’s efforts to increase vaccinations,… Continue reading Biden enlists Disney, Microsoft CEOs in push for vaccine mandates

U.S. Treasury suspends changes to Fannie Mae, Freddie Mac share agreements

WASHINGTON (Reuters) -The U.S. Treasury Department said on Tuesday it had suspended changes to the government’s stake in housing giants Fannie Mae and Freddie Mac imposed in the final days of the Trump administration.FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File PhotoThose changes… Continue reading U.S. Treasury suspends changes to Fannie Mae, Freddie Mac share agreements

White House welcomes inflation data, still concerned about U.S. housing prices

WASHINGTON (Reuters) – The Biden administration on Tuesday welcomed data showing that consumer prices increased at their slowest pace in six months in August as evidence that inflation would be transitory, citing a drop in auto prices and a deceleration in food price increases.FILE PHOTO: A general view of the White House in Washington, U.S.… Continue reading White House welcomes inflation data, still concerned about U.S. housing prices

From zippers to glass, shortages of basic goods hobble U.S. economy

FLETCHER, N.C. (Reuters) – For Lauren Rash, it’s the little things that have snarled production at her tent factory here, like the many shades of black Velcro.Diamond Brand COO Lauren Rash stands in an aisle of shelves with stockpiled parts as the ‘lean’ supply management has been upended by global shortages and bottlenecks, at Diamond… Continue reading From zippers to glass, shortages of basic goods hobble U.S. economy

Wall Street ends down, Apple sinks on app store ruling

(Reuters) – Wall Street ended lower on Friday as investors weighed signs of higher inflation, while Apple Inc tumbled following an unfavorable court ruling related to its app store.FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 20, 2021. REUTERS/Andrew KellyU.S. producer… Continue reading Wall Street ends down, Apple sinks on app store ruling

Wall Street opens higher after Biden-Xi call

FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 20, 2021. REUTERS/Andrew Kelly(Reuters) – Wall Street’s main indexes opened higher on Friday as signs of an easing in tensions between the United States and China added to recent data that soothed fears… Continue reading Wall Street opens higher after Biden-Xi call

U.S. applications to start a business fall in August

A shopkeeper works inside his retail store as the phase one reopening of New York City continues during the outbreak of the coronavirus disease (COVID-19) in the Brooklyn borough of New York City, New York, U.S. June 9, 2020. REUTERS/Shannon Stapleton(Reuters) – Applications to start new U.S. businesses declined in August for just the third… Continue reading U.S. applications to start a business fall in August

GRAPHIC-U.S. equity funds receive big inflows in week to Sept. 1 -Lipper

Sept 3 (Reuters) – U.S. equity funds received the largest inflow in 10 weeks in the week ended Sept. 1, as Federal Reserve Chairman Jerome Powell’s dovish remarks at an annual symposium eased investor concerns of a sudden taper of monetary stimulus and reinforced optimism about a resilient recovery. Data from Lipper showed U.S. equity… Continue reading GRAPHIC-U.S. equity funds receive big inflows in week to Sept. 1 -Lipper

Biden infrastructure plan takes on EV charging’s inequality problem

(Reuters) – The Biden administration has an ambitious $7.5 billion plan to expand electric vehicle charging to underserved areas, but it must first overcome a host of obstacles that have discouraged private investment in more equitable charging networks.FILE PHOTO: An Ionity electric vehicle charging station is pictured on the motorway service station “Dresdner Tor Sued”… Continue reading Biden infrastructure plan takes on EV charging’s inequality problem

Biden infrastructure plan takes on EV charging’s inequality problem

(Reuters) – The Biden administration has an ambitious $7.5 billion plan to expand electric vehicle charging to underserved areas, but it must first overcome a host of obstacles that have discouraged private investment in more equitable charging networks.FILE PHOTO: An Ionity electric vehicle charging station is pictured on the motorway service station “Dresdner Tor Sued”… Continue reading Biden infrastructure plan takes on EV charging’s inequality problem

ANALYSIS-Powell's wait-and-see speech reassures some investors

CHICAGO/NEW YORK, Aug 27 (Reuters) – U.S. Fed Chair Jerome Powell’s wait-and-see approach in a much-anticipated address on Friday gave investors and market participants some reassurance that the central bank’s extraordinary efforts to prop up the economy were likely to support riskier assets a while longer. In remarks to the annual, but this year virtual… Continue reading ANALYSIS-Powell's wait-and-see speech reassures some investors

U.S. consumer sentiment plummets to near-decade low

FILE PHOTO: A woman carries Nike shopping bags at the Citadel Outlet mall, as the global outbreak of the coronavirus disease (COVID-19) continues, in Commerce, California, U.S., December 3, 2020. REUTERS/Lucy Nicholson/File Photo/File Photo(Reuters) -U.S. consumer sentiment plunged to its lowest level in nearly a decade in August as consumers’ views of their personal financial… Continue reading U.S. consumer sentiment plummets to near-decade low

Exit game: Central banks' shift from crisis policies gathers momentum

(Makes clear in paragraph 11 the Hungarian central bank has raised rates three times this summer, not twice)FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York, U.S., September 27, 2019. REUTERS/Gary He(Reuters) -While the financial world waits for the Federal Reserve to start reversing its ultra-loose… Continue reading Exit game: Central banks' shift from crisis policies gathers momentum

U.S. corporate profits soar in second quarter; economic growth raised

WASHINGTON (Reuters) – U.S. corporate profits surged to a fresh record high in the second quarter, boosted by robust demand and higher prices, suggesting that an anticipated slowdown in economic growth this quarter because of soaring COVID-19 cases could be temporary.FILE PHOTO: A banner inviting people to apply for open jobs is seen outside a… Continue reading U.S. corporate profits soar in second quarter; economic growth raised