By Ismail Shakil OTTAWA (Reuters) -The Canadian economy unexpectedly shed a net 6,400 jobs in July while the jobless rate ticked up to 5.5%, data showed on Friday, cementing analyst expectations that the Bank of Canada will pause its interest rate hike campaign. Analysts polled by Reuters had forecast a net gain of 21,100 jobs…
By Doina Chiacu and Katharine Jackson (Reuters) – Republican presidential candidate Chris Christie met with Ukrainian President Volodymyr Zelenskiy in Kyiv on Friday and underscored strong U.S. support for its fight against Russia. Christie, once an ally of former President Donald Trump, is challenging him for their party’s nomination in the 2024 election – and…
NEW YORK (Reuters) – Big investors, such as pension funds and insurance companies, are willing to increase their allocation to credit and equity hedge funds through the rest of this year, according to a Goldman Sachs survey. The bank’s capital introduction team, which introduces hedge funds to money managers, interviewed in July 340 investors, with…
By Ann Saphir (Reuters) -Federal Reserve policymakers received new evidence on Friday that the labor market is cooling, adding to the case that the U.S. central bank’s recent interest rate hike could be the last of its current tightening cycle. The Fed has raised rates at 11 of its last 12 policy meetings in its…
LONDON (Reuters) -Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the U.S. tech sector were slashing their marketing spend. A.P. Moller-Maersk lowered its estimate for global container trade this year as…
WASHINGTON (Reuters) – Lawyers for Donald Trump have dropped a second longshot bid to disqualify the Georgia prosecutor investigating whether the former president illegally interfered with the state’s 2020 presidential election. The pending motion, which was to be heard next week, was rendered unnecessary because of a judge’s ruling on Monday in an earlier, similar…
By Elvira Pollina and Giuseppe Fonte ROME (Reuters) – Italy is preparing measures to support strategic industrial sectors including microelectronics and promote foreign investment programmes worth at least 1 billion euros ($1.1 billion), a draft decree seen by Reuters showed on Friday. Rome will reserve the right to appoint a special commissioner to take all…
(Reuters) -Canada’s Magna International on Friday raised its full-year profit and sales outlook after its quarterly results beat estimates on solid demand for parts, as automakers ramp up production. Magna shares, however, dropped 3.5% as the company flagged labor concerns that have been a problem for the industry already battling higher costs of raw materials…
By Simon Lewis and David Brunnstrom WASHINGTON (Reuters) – The United States should extend electric vehicle tax credit benefits to Vietnam if it wants to encourage a landmark investment from the country in U.S.-based manufacturing, the head of the main U.S. business lobby for Southeast Asia said. Rules included in the U.S. Inflation Reduction Act…
By Akash Sriram and Abhirup Roy (Reuters) -Fisker Inc shares fell nearly 9% on Friday after supply chain issues forced a cut in its annual production target, taking the shine off its smaller-than-expected quarterly loss and the first revenue from deliveries of its electric sport utility vehicles. The company now expects to produce between 20,000…
