By Lindsay Dunsmuir and Michael S. Derby (Reuters) – Four Federal Reserve policymakers on Friday indicated they would still consider a smaller interest rate hike at their next policy meeting, despite new data showing another month of robust job gains and only small signs of progress in lowering inflation. The United States added 261,000 jobs…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar slumped on Friday after the U.S. nonfarm payrolls report for October showed the world’s largest economy created more new jobs than expected, but also flashed signs of slowdown with the higher unemployment rate and lower wage inflation. The greenback initially rose immediately after the data, but…
By Ann Saphir (Reuters) – It is time for the Federal Reserve to shift to smaller interest rate hikes to avoid tightening monetary policy more than needed, and slow the pace further once risks become more “two-sided,” Chicago Fed President Charles Evans said on Friday. “From here on out, I don’t think it’s front-loading anymore,…
WASHINGTON (AP) — The solid U.S. jobs report for October underscores why the Federal Reserve needs to raise interest rates higher than it had previously forecast in order to control inflation, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Friday. In an interview with The Associated Press, Kashkari said that at the…
By Priyamvada C (Reuters) -Canadian auto parts maker Magna International Inc lowered its annual sales forecast after missing estimates for third-quarter profit on Friday, as supply chain snags and higher costs keep global vehicle production under pressure. Europe’s energy crisis has exacerbated power and logistics costs for auto firms, even as they reel from a…
(Refiles to fix day of week) (Reuters) – Russian President Vladimir Putin has signed a decree allowing Russian company Nefteservisnie Tekhnologii to acquire U.S. oilfield services provider Baker Hughes’ Russian assets, a Russian government document published on Friday showed. Baker Hughes announced in March that it was suspending new investments in Russia after Western countries…
By Sheila Dang, Katie Paul and Martin Coulter (Reuters) -Twitter Inc temporarily closed its offices and cut workers’ access to internal systems on Friday after telling employees they would be informed by email about whether they were being laid off. The move follows a week of chaos and uncertainty about the company’s future under new…
By Julie Gordon OTTAWA (Reuters) -The Canadian economy posted a blowout job gain in October, coming in 10 times higher than forecasts, and the jobless rate held steady, official data showed on Friday, with the big beat upping market calls for another oversized interest rate hike. The economy added a net 108,300 jobs last month,…
LONDON (Reuters) – The Bank of England needs to raise interest rates further, but not as high as the 5.25% level which financial markets had priced in before the central bank’s latest rate decision, BoE Chief Economist Huw Pill said on Friday. Pill was giving a presentation to businesses about the BoE’s decision on Thursday…
(Reuters) – U.S. stock index futures rose in choppy trading on Friday after an increase in the October unemployment rate supported expectations that the Federal Reserve could deliver smaller rate hikes starting in December. The Labor Department’s closely watched report showed unemployment rate ticked up 3.7% compared with expectations of 3.6%, while average hourly earnings…
