US Online Report Economy Automatic

Venezuela money supply up 200 percent in year, fastest rise on record

By Girish Gupta CARACAS (Reuters) - Crisis-stricken Venezuela's money supply has surged over 200 percent in a year, its fastest rise since records began in 1940, putting it on track for what is likely the world's highest inflation. Soon after a...

Monday, April 3, 2017 - 12:56pm

China March factory activity expands but at slower pace - Caixin PMI

BEIJING (Reuters) - Activity at China's factories expanded for a ninth straight month in March but at a softer pace as new export orders slowed, a private survey showed, raising questions about whether a recent pickup in global demand is losing steam. The Caixin...

Friday, March 31, 2017 - 10:25pm

Caterpillar shuts plant in Aurora, Illinois, that employs 800

By Gayathree Ganesan and Akankshita Mukhopadhyay (Reuters) - Caterpillar Inc <CAT.N> said on Friday it will shut its Aurora, Illinois, plant, costing about 800 employees their jobs as the world's largest construction and mining equipment maker shifts...

Friday, March 31, 2017 - 9:07pm

Beyond jobs, car sales to give insight on consumer health

By Rodrigo Campos NEW YORK (Reuters) - Forget the jobs report. The most interesting bit of U.S. economic data next week is Monday's auto sales release, which will offer a measure of the middle-class consumer and a sector of the stock market that has had a rough...

Friday, March 31, 2017 - 6:26pm

Trump's orders target trade abuses, import duty evasion

By David Lawder WASHINGTON (Reuters) - U.S. President Donald Trump sought to push his crusade for fair trade and more manufacturing jobs back to the top of his agenda on Friday by ordering a study into the causes of U.S. trade deficits and a clampdown on import...

Friday, March 31, 2017 - 6:03pm

ECB's Jazbec says data shows ECB's QE decision was right: report

LJUBLJANA (Reuters) - Data shows the decision of the European Central Bank (ECB) to prolong its quantitative easing program until the end of 2017 was correct, ECB governing council member Bostjan Jazbec said in an interview published on Saturday. "The decision...

Friday, March 31, 2017 - 6:03pm

Prepaid card firm NetSpend settles FTC charges for $53 million

WASHINGTON (Reuters) - NetSpend Corp, a unit of Total System Services Inc <TSS.N>, has agreed to settle Federal Trade Commission allegations that the prepaid card company deceived people about access to funds deposited on NetSpend debit cards, the FTC said on Friday...

Friday, March 31, 2017 - 5:45pm

Chicago suburb's bond rating cut to junk over stadium debt

CHICAGO (Reuters) - The credit rating for Bridgeview, Illinois, fell into the junk level on Friday after S&P Global Ratings hit the Chicago suburb with a four-notch downgrade to BB-minus. S&P cited debt pressures on Bridgeview, which issued $135 million of...

Friday, March 31, 2017 - 5:40pm

'World of Warcraft' holds lessons for central bankers: Haldane

LONDON (Reuters) - Central bankers can learn from the computer gaming industry as they try to communicate with a public that often has little idea what they do, the Bank of England's chief economist Andy Haldane said. Central banks around the world have played a key...

Friday, March 31, 2017 - 5:02pm

BOJ deputy governor Nakaso joins Japan government panel on fiscal policy

TOKYO (Reuters) - Bank of Japan Deputy Governor Hiroshi Nakaso became the first central bank executive in seven years to join a government panel on fiscal policy, underscoring the role its massive monetary stimulus plays in reining in Japan's huge fiscal debt....

Friday, March 31, 2017 - 4:04pm

BlackRock's active gambit ups pressure on rivals

By Trevor Hunnicutt and Tim McLaughlin NEW YORK/BOSTON (Reuters) - BlackRock Inc's <BLK.N> decision to revamp part of its stock-picking business puts further pressure on active U.S. equity managers to cut fees, change products and merge to stem a...

Friday, March 31, 2017 - 3:25pm

Third Avenue in $14.25 million settlement over junk bond fund collapse

By Jonathan Stempel NEW YORK (Reuters) - Third Avenue Management and its founder Martin Whitman have reached a $14.25 million settlement of a lawsuit by investors who accused the well-known value investment firm of mismanaging a junk bond mutual fund that collapsed...

Friday, March 31, 2017 - 2:50pm

LIA chief Ali Shamekh targets inward investment, London office

By Claire Milhench LONDON (Reuters) - Libya's $66 billion sovereign fund should invest in domestic power and energy infrastructure but must first unite the factions battling to control it and get sanctions on its assets lifted, one of its leaders said...

Wednesday, March 29, 2017 - 10:25am

Japan manufacturers mood at three-year high on export-led recovery: Reuters Tankan

By Tetsushi Kajimoto and Izumi Nakagawa TOKYO (Reuters) - Confidence among Japanese manufacturers rose for a seventh straight month in March to a three-year high, while the service sector's mood held steady, a Reuters poll showed, highlighting an export-...

Friday, March 24, 2017 - 4:43am

Citi says EU 'equivalence' regime no answer to Brexit banking question

By Huw Jones and Andrew MacAskill LONDON (Reuters) - British-based banks would be foolhardy to expect to retain access to European Union markets in return for sticking closely to the bloc's rules after Brexit, a senior banking official said on Wednesday...

Wednesday, March 22, 2017 - 10:46pm

Profits rise 6 percent at Li Ka-shing's CK Hutchison, beats forecast

By Donny Kwok and Venus Wu HONG KONG (Reuters) - CK Hutchison Holdings Ltd <0001.HK>, the ports-to-telecoms arm of billionaire businessman Li Ka-shing, beat forecasts on Wednesday with a 6 percent rise in 2016 net profit and said it was cautiously...

Wednesday, March 22, 2017 - 2:33pm

Exclusive: Iran struggles to coax Bank of England to open clearing accounts - sources

By Jonathan Saul and Parisa Hafezi LONDON/ANKARA (Reuters) - Iran has asked the Bank of England to set up special clearing accounts for its banks, but has so far been rebuffed in its effort to resolve an impasse that has left it excluded from banking...

Monday, March 20, 2017 - 12:26pm

China, EU cut imports of Brazil meat amid scandal

By Brad Brooks and Dominique Patton SAO PAULO/BEIJING (Reuters) - China and the European Union curtailed meat imports from Brazil on Monday after police, in an anti-corruption probe criticized by the government as alarmist, accused inspectors...

Monday, March 20, 2017 - 10:37am

Halfway into 2017's oil supply cut, Asia remains awash with fuel

By Florence Tan and Henning Gloystein SINGAPORE (Reuters) - Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect. The Organization of the...

Thursday, March 16, 2017 - 10:19pm

China, Saudi Arabia eye $65 billion in deals as king visits

By Ben Blanchard BEIJING (Reuters) - Saudi Arabia's King Salman oversaw the signing of deals worth as much as $65 billion on the first day of a visit to Beijing on Thursday, as the world's largest oil exporter looks to cement ties with the...

Thursday, March 16, 2017 - 3:03am