Fed’s Powell hopeful inflation can be tamed without pain of Volcker era

Federal Reserve Board Chairman Jerome Powell attends a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, US, July 27, 2022. REUTERS/Elizabeth Frantz Register now for FREE unlimited access to Reuters.com register WASHINGTON, Sept 8 (Reuters) – The Federal Reserve is “strongly committed” to fighting inflation, but there remains … Read more

Newly-launched US drugs head toward record-high prices in 2022

Median annual price for new US drugs this year is $257,000 Eight of 13 drugs launched in 2022 priced over $200,000 per year Some drugmakers disclose less information on pricing Aug 15 (Reuters) – Drugmakers are launching new medicines at record-high prices this year, a Reuters analysis has found, highlighting their pricing power even as … Read more

Cryptoverse: Blockchain bridges fall into troubled waters

Representations of cryptocurrency Bitcoin, Ethereum and Dash plunged into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com register Aug 9 (Reuters) – Another day, another hack – and another blockchain bridge burned. When thieves stole an estimated $190 million from US crypto firm Nomad last … Read more

Bridgewater pushes back against Chinese ‘All Weather’ copycats

SHANGHAI/NEW YORK, Aug 8 (Reuters) – Billionaire hedge fund manager Ray Dalio’s huge popularity in China has not only drawn local investors flocking to his funds but also spawned home-grown challengers using his “All Weather” strategy and brand to try to beat him at his own game. Now, the Connecticut-based hedge fund giant he founded, … Read more

China’s exports gain steam but outlook cloudy as global growth cools

China July exports grow at faster pace, beat forecast Imports again disappoint, highlighting weak domestic demand Trade balance hit record high in July Weak foreign demand adds stress to trade, economic outlook BEIJING, Aug 7 (Reuters) – China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its … Read more

US labor market failures recession fears as job growth surges in July

Nonfarm payrolls increase 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring … Read more

Sterling falls as BoE expects recession, US futures up

Bank of England hikes rates by 50 basis points BoE expects recession throughout 2023 Fed official: 50bp hike in Sept “reasonable” Oil stabilizes after hitting six-month low Lufthansa returns to operating profit LONDON, Aug 4 (Reuters) – Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro … Read more

Wall Street rallies on economic data, crude falls as stockpiles jump

NEW YORK, Aug 3 (Reuters) – US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that US stockpiles of crude and gasoline unexpectedly surged last week. … Read more

OPEC+ agrees tiny output rise in setback for Biden

OPEC to raise output target by 100,000 bpd from Sept OPEC faces output problems to meet existing targets US seeking higher OPEC production to counter Russia Biden trip, US arms sales failed to persuade DUBAI/LONDON, Aug 3 (Reuters) – OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount … Read more

Stocks and bond yields fall on Taiwan tensions

A man wearing a protective face mask, amid the coronavirus disease (COVID-19) pandemic, walks past a screen showing Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, February 14, 2022. REUTERS/ Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com register MSCI World Index falls 0.4% Bond … Read more