By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s economy added far more jobs than expected in June, data showed on Friday, a result analysts said probably seals the deal for another Bank of Canada (BoC) interest rate hike next week. Jobs increased by a net 59,900 in June, the most since January and higher…
(Reuters) – U.S. equity funds witnessed net purchases for a second straight week during the seven days to July 5, as signs of cooling inflation soothed investor worries about more interest rate hikes from the Federal Reserve. Investors purchased a net $4.44 billion worth of U.S. equity funds during the week, up from about $2.04…
(Reuters) -The Federal Reserve will likely raise its benchmark interest rate later this month to a 5.25%-5.5% range, traders bet on Friday, even as they priced in a slightly lower chance of any further increase after a government report showed hiring slowed more than expected in June. Traders now see about a 20% chance of…
NEW YORK (Reuters) – U.S. job growth slowed more than expected in June after surging in the prior month, but labor market conditions remain tight, with the unemployment rate retreating from a seven-month high and fairly strong wage gains continuing. Nonfarm payrolls increased by 209,000 jobs last month, the Labor Department said on Friday. May…
(Reuters) – Global investors extended their streak as net buyers of equity funds into a second week, drawing support from indications of cooling inflation that may moderate central banks’ inclination to raise rates further. According to Refinitiv Lipper data, global equity funds received a net $5.94 billion in inflows in the week ended July 5,…
MEXICO CITY (Reuters) – Mexico’s annual inflation rate decelerated in June for a fifth consecutive month to 5.06%, data from statistics agency INEGI showed on Friday, continuing a downward trend spurred by a long cycle of rate hikes. Headline inflation came in slightly above a market forecast of 5.02%, but is now at its lowest…
BEIJING (Reuters) – China’s central bank on Friday announced a fine of 7.12 billion yuan ($984 million) for Ant Group. Reuters reported earlier on Friday that the People’s Bank of China (PBOC), which has been driving the regulatory revamp at Ant after its $37 billion IPO was scuttled in late 2020, intended to unveil the…
BERLIN (Reuters) -Continental said on Friday it planned to phase out business activities at its Gifhorn plant by the end of 2027, with 450 out of 900 jobs at the site initially affected. The decision was taken “against the backdrop of the sharp increase in cost pressure in the automotive industry, the declining automotive markets,…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -Investors are on edge ahead of Friday’s U.S. jobs report after more evidence of economic resilience cemented expectations of higher rates for longer and sent yields to a 16-year high. Unexpected strength in the labor market, which showed private payrolls surged in June, sent the two-year U.S. Treasury…
By Lucy Raitano LONDON (Reuters) – Investors globally ploughed more money into cash funds in the week to Wednesday, with total cash assets under management reaching a “monster” $7.8 trillion, according to a report from Bank of America (BofA) Global Research. Inflows into cash funds totaled $29 billion in the week to Wednesday, while global…
