By Saikat Chatterjee and Sujata Rao LONDON (Reuters) – “Our currency, your problem,” were the words of a former U.S. Treasury secretary in 1971 to other finance ministers aghast at the dollar’s surge. More than 50 years on, relentless dollar strength is again leaving a trail of destruction in its wake. The U.S. currency vaulted…
TORONTO (Reuters) – Canada’s economy gained a net 15,300 jobs in April, entirely in part-time work, Statistics Canada said on Friday. The jobless rate edged down to 5.2%, a new record low. Employment in the goods producing sector fell by a net 16,000 jobs, mostly in construction. The services sector grew by a net 31,4600…
(Reuters) – The Federal Reserve may have to push long-term real rates into a contractionary stance in order to help bring inflation down, Minneapolis Fed President Neel Kashkari said on Friday. “We will need to observe incoming data over the next several months to determine if fulfilling current guidance is enough to bring inflation back…
(Reuters) -Agricultural equipment maker AGCO Corp said on Friday it expects operations at some of its production facilities to be affected for “several days and potentially longer” following a ransomware attack. The company’s shares were down 4% at $125.55. AGCO did not disclose the names of the facilities or if any data was stolen, but…
By John McCrank NEW YORK (Reuters) – Individual investors were major buyers on Thursday as stocks sold off over concerns that the U.S. Federal Reserve would have to increase the size of interest rate hikes to tame inflation, which is running at a four-decade high. Retail investors were net buyers of $2.6 billion worth of…
OTTAWA (Reuters) – The Canadian economy added far fewer jobs than expected in April, though the unemployment rate inched down to new record low of 5.2% and the labor market remained very tight, Statistics Canada data showed on Friday. After adding more than 400,000 jobs over the previous two months, Canada added a modest 15,300…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth increased more than expected in April, underscoring the economy’s strong fundamentals despite a contraction in gross domestic product in the first quarter. Nonfarm payrolls rose by 428,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for March was…
(Reuters) -The Russian rouble dropped sharply on Friday, pulling back from a more than two-year high against the euro as the spectre of more sanctions against Moscow hung over markets ahead of a second consecutive long holiday weekend. The European Union’s executive on Wednesday proposed the toughest package of sanctions yet against Russia for its…
MILAN (Reuters) – An Italian appeals court on Friday acquitted all defendants, Deutsche Bank and Nomura over derivative deals that prosecutors say helped Monte dei Paschi di Siena hide losses in one of the country’s biggest financial scandals. The verdict, read in court on Friday by lead judge Angela Scalise, overturned a previous ruling in…
(Reuters) – Under Armour Inc on Friday forecast full-year profit below Wall Street estimates, as the sportswear maker grapples with higher costs related to supply chain disruptions and a hit to its business from renewed COVID-19 curbs in China. Shares of Under Armour were down about 3% in premarket trading after the company reported bleak…
