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

Lula’s honeymoon with Brazil markets ends amid spending plan fears

Lula’s honeymoon with Brazil markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers . Brazil’s currency and benchmark Bovespa stock index (.BVSP), which rose last week … 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

Canada’s economy has scope to slow with ‘exceptionally high’ vacant jobs, central-bank governor says

Canada’s economy has scope to slow with ‘exceptionally high’ vacant jobs, central-bank governor says

TORONTO, Oct 9 (Reuters) – Bank of Canada Governor Tiff Macklem said there is scope to slow the economy based on an “exceptionally high number” of job vacancies in the labor market. In an interview aired on CBC Radio on Sunday, Macklem said the current inflation fight is the biggest test the central bank has … Read more

US job openings drop sharply, labor market starting to loosen

US job openings drop sharply, labor market starting to loosen

Job openings fall 1.1 million to 10.053 mln in August Healthcare, retail trade lead decline in vacancies Quits, layoffs, hiring increase moderately WASHINGTON, Oct 4 (Reuters) – US job openings fell by the most in nearly 2-1/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher … Read more

S&P 500 falls to two-year low, bear market rally snuffed out

S&P 500 falls to two-year low, bear market rally snuffed out

Sept 27 (Reuters) – The S&P 500 (.SPX) fell to its lowest level in almost two years on Tuesday on worries about super aggressive Federal Reserve policy tightening, trading under its June trough and leaving investors appraising how much further stocks would have to fall before stabilizing. Stocks have been under pressure since late August … Read more

Sterling crumbles to record low, dollar soars on UK fiscal angst

Sterling crumbles to record low, dollar soars on UK fiscal angst

Woman holds British pound banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/ Register now for FREE unlimited access to Reuters.com Register TOKYO, Sept 26 (Reuters) – Sterling tumbled to a record trough on Monday as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the … Read more

In China, home buyers occupy their ‘rotting’, unfinished properties

In China, home buyers occupy their ‘rotting’, unfinished properties

GUILIN, China, Sept 26 (Reuters) – For six months, home for Ms. Xu has been a room in a high-rise apartment in the southern Chinese city of Guilin that she bought three years ago, attracted by brochures touting its riverfront views and the city’s clean air. Her living conditions, however, are far from those promised: … 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