UK’s Hunt says he has to raise taxes to fix economy

UK’s Hunt says he has to raise taxes to fix economy

UK finance minister says tax rises are coming ‘You have to do what is right for the country’ – Hunt New forecasts will show recession coming Priority is to bring down inflation – Hunt LONDON, Nov 12 (Reuters) – British finance minister Jeremy Hunt said he will have to raise taxes in next week’s budget … Read more

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates

OTTAWA/WINNIPEG, Manitoba, Oct 30 (Reuters) – At a warehouse on an industrial stretch in Ottawa, giant metal crates of donated groceries are piled high as volunteers sort canned goods, pasta and other foods to be distributed to pantries around the Canadian city . Demand has surged 33% at the Ottawa Food Bank from pre-COVID-19 pandemic … Read more

“60/40” portfolios are facing worst returns in 100 years: BofA

“60/40” portfolios are facing worst returns in 100 years: BofA

LONDON, Oct 14 (Reuters) – Investors with classic “60/40” portfolios are facing the worst returns this year for a century, BofA Global Research said in a note on Friday, noting that bond markets continue to see huge outflows. “2022 (is) a simple tale of “inflation shock” causing “rates shock” which in turn threatening “recession shock” … Read more

Bond sell-off worst since 1949, Bank of America says

Bond sell-off worst since 1949, Bank of America says

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, US, January 30, 2019. REUTERS/Carlo Allegri Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 23 (Reuters) – Global government bond losses are on course for the worst year since 1949 and investor sentiment has plummeted … Read more

Fed’s Powell: US housing market headed for ‘correction’

Fed’s Powell: US housing market headed for ‘correction’

US Federal Reserve Board Chairman Jerome Powell attends a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, US, September 21, 2022. REUTERS/Kevin Lamarque Register now for FREE unlimited access to Reuters.com Register Sept 21 (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the … Read more

Gen Z poses a problem for the luxury industry

Gen Z poses a problem for the luxury industry

SHANGHAI/PARIS, Aug 18 (Reuters) – From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such “aspirational” purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major … Read more

Fed officials beat inflation drum; 50-basis-point rate hike ‘reasonable’ next month

Fed officials beat inflation drum;  50-basis-point rate hike ‘reasonable’ next month

Aug 3 (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the US central bank’s key interest rate next month might be enough to march toward that goal. “I start from the idea that 50 (basis points) would be a reasonable … Read more

Nowhere to live: Rents in Canada surge as home prices fall

Nowhere to live: Rents in Canada surge as home prices fall

OTTAWA, July 22 (Reuters) – Canadian home prices are dropping fast after surging during the coronavirus pandemic, but that is offering little relief for consumers who face sky-rocketing rents and fading buying power as interest rates rise. Desperate would-be buyers found themselves caught in a frenzy of bidding wars for real estate during the pandemic, … Read more

Fed to stick to 75 bps hike in July; 40% chance of recession

Fed to stick to 75 bps hike in July;  40% chance of recession

The Federal Reserve building in Washington September 1, 2015. REUTERS/Kevin Lamarque/File Photo Register now for FREE unlimited access to Reuters.com Register BENGALURU, July 21 (Reuters) – The US Federal Reserve will opt for another 75 basis point rate hike rather than a larger move at its meeting next week to quell stubbornly-high inflation as the … Read more

Biden approval rating falls to 36%, matching record low: Reuters/Ipsos poll

Biden approval rating falls to 36%, matching record low: Reuters/Ipsos poll

Democratic 2020 US presidential candidate and former Vice President Joe Biden walks past solar panels while touring the Plymouth Area Renewable Energy Initiative in Plymouth, New Hampshire, US, June 4, 2019. REUTERS/Brian Snyder/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, July 19 (Reuters) – US President Joe Biden’s public approval rating … Read more