The European Union detailed on Wednesday how it will reduce greenhouse gas emissions in the coming years, with the plan potentially revolutionizing many sectors from air travel to shipping. The 27member bloc has vowed to become carbon neutral by 2050 and to reduce its greenhouse gas emissions by at least 55 by 2030, compared to […]

The US data portion pointed to further economic recovery. Data for last week show Initial jobless claims fell to 360k 350k expected. The number of continued claims fell by 126k to 3.241M. In both cases, we see the lowest levels since the pandemic hit and the end of the stagnation in numbers. The other batch […]

BEIJING Reuters Chinas new home price growth slowed for the first time since November last year in monthonmonth terms, data showed on Thursday, as government measures to cool a hot housing market finally triggered a weakening in gains. Average new home prices in 70 major cities grew 0.5 in June from a month earlier, down […]

DUBAI, July 15 Reuters Saudi Arabias annual inflation rate rose to 6.2 in June, the highest this year, from 5.7 in May, official data showed on Thursday. June marked a third consecutive monthly rise reflecting an increase in valueadded tax introduced last year. Noting that consumer prices still reflect an increase of the value added […]

Reuters Growth in East Asia and the Pacific this year will likely be slower than previously thought, the World Bank said on Thursday, as many countries in the region grapple with spikes in COVID19 cases, new variants and vaccine supply constraints. The East Asia and Pacific region, excluding China, is expected to grow 4 this […]

WASHINGTON Reuters U.S. retail sales unexpectedly increased in June as demand for goods remained strong even as spending is shifting back to services, bolstering expectations that economic growth accelerated in the second quarter. Retail sales rebounded 0.6 last month, the Commerce Department said on Friday. Data for May was revised down to show sales falling […]

LONDON Reuters Bank of England interestrate setter Jonathan Haskel said reducing stimulus was not the right option for the foreseeable future, despite rising inflation, distancing himself from two colleagues who last week said tighter policy might be needed. In the immediate term, the risk of a preemptive monetary tightening curtailing the recovery continues to outweigh […]

LONDON Reuters Asking prices for British homes rose by 0.7 between midJune and early July compared with a month earlier, the biggest rise for the time of year since 2007 despite the scaling back of a tax break for buyers on July 1, property website Rightmove said.       FILE PHOTO A Union flag […]

Rates as of 0500 GMT Market Recap Judging from the stock markets, investors are in an allaround risk off mood. My equity screens are a sea of red, signifying declining prices. All major European and US markets were lower on Friday and most Asian markets are lower today as investors worry about the virus see […]

WASHINGTON Reuters U.S. homebuilding increased more than expected in June, though expensive lumber as well as shortages of labor and land continued to constrain builders ability to fully take advantage of robust demand for housing. Housing starts rose 6.3 to a seasonally adjusted annual rate of 1.643 million units last month, the Commerce Department said […]