Stocks sink again, heading for the worst week since 2008
2020-02-28 21:16:55 UTC
U.S. stocks sank again on Wall Street Friday, pushing the S&P 500 index down another 2.8% and putting the market on track for its worst week since October 2008.
The virus outbreak has been shutting down industrial centers, emptying shops and severely crimping travel all over the world. More co...
Coronavirus Outbreak Is Spreading Around the World
2020-02-27 21:37:15 UTC
<p>One by one, more and more countries are reporting cases of the new coronavirus. Governments and doctors on the front lines are scrambling for solutions and everyday life around the globe is being disrupted in a manner that’s not been seen in recent times. </p><p>The spread of the vi...
Dow Jones Falls Nearly 1,200 Points
2020-02-27 21:12:47 UTC
The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havov on the global economy. Bond prices soared again as investors sought safe places to park money, sending the yield on the 10-y...
Data: US Economy Losing Momentum
2020-01-31 21:01:40 UTC
WASHINGTON Reuters - U.S. consumer spending rose steadily in December, but tepid income gains pointed to moderate consumption growth this year, which together with slumping business investment likely set the economy on a slower growth path this year.
While the report on Friday from the Commerc...
Stock Market Falls as Coronavirus Continues to Spread
2020-01-31 20:45:32 UTC
NEW YORK (Reuters) - Wall Street’s major averages tumbled more than 1% on Friday as the spreading coronavirus outbreak along with sluggish U.S. economic data and a mixed batch of corporate earnings fueled concerns about global growth.
The S&P 500 .SPX is down nearly 3% from its closing high hi...
EU Parliament Gives Final Approval to Brexit Deal
2020-01-29 18:07:08 UTC
BRUSSELS (Reuters) - The European Parliament on Wednesday gave its final approval to Britain’s divorce deal from the bloc, paving the way for Brexit to take place on Friday.
The chamber broke into singing Auld Lang Syne, a traditional Scottish song to bid farewell, after voting 621 for versus ...
New 25% Tariffs on EU Food Will Lead to Higher Prices, Cost American Jobs
2019-10-04 00:39:52 UTC
WASHINGTON (Reuters) - New 25% U.S. tariffs on Italian cheese, French wine, Scotch whisky, British biscuits, Spanish olives and thousands of other European food products will lead to higher prices ahead of the holiday season and cost American jobs, trade groups said on Thursday.
The U.S. Trade...
EU: Lots of Problematic Issues in UK’s Latest Brexit Proposal
2019-10-03 17:28:04 UTC
BRUSSELS (Reuters) - European Commission President Jean-Claude Juncker on Thursday pointed to a number of problematic issues in Britain’s latest Brexit proposal, saying that more discussions were needed.
“Accepting such a proposal would not meet all the objectives of the backstop: preventing a...
Weak US Economic Data Weighs on Global Market
2019-10-03 16:56:45 UTC
NEW YORK (Reuters) - Weaker-than-expected U.S. economic data weighed on global financial markets on Thursday, leaving world equity benchmarks bouncing in choppy trading and sending investors into safe-haven assets on expectations of further Federal Reserve interest rate cuts.
The drop in the c...
Attacks on Saudi Oil Field Knock Out Half of Its Output
2019-09-15 07:21:05 UTC
RIYADH/DUBAI/LONDON (Reuters) - Yemen’s Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia’s oil industry on Saturday, knocking out more than half the Kingdom’s output, in a move expected to send oil prices soaring and increase tensions in the Middle East.
Hurricane Dorian Shows We Are Losing the Fight Against Global Warming
2019-09-01 22:29:33 UTC
As Hurricane Dorian churns its way through the Atlantic, we need to recognize that climate change can make any hurricane more intense and Category 5 hurricanes more likely. Burning fossil fuels such as coal, oil and natural gas, release carbon dioxide and methane into Earth’s atmosphere. Th...
Recession Fears Escalate
2019-08-14 19:02:04 UTC
NEW YORK (Reuters) - Wall Street stumbled on Wednesday as investors fled equities for safe-haven assets, seeking shelter amid gathering signs that a recession could be on the horizon.
All three major U.S. indexes were sharply lower as short- and long-dated Treasury yields inverted for the firs...
US, UK Seek Quick Post-Brexit Trade Deal
2019-08-13 18:20:56 UTC
LONDON (Reuters) - Britain and the United States are discussing a partial trade accord that could take effect on Nov. 1, the day after Britain is due to leave the European Union, a senior Trump administration official said on Tuesday.
The official also said visiting U.S. national security advi...
US will "Enthusiastically Support a No-Deal Brexit"
2019-08-12 19:04:58 UTC
LONDON (Reuters) - The United States would enthusiastically support a no-deal Brexit if that is what the British government decided to do, U.S. national security adviser John Bolton said on Monday during a visit to London aimed at reassuring Britain over UK-U.S. ties.
Bolton told British Prime...
Russia Asks Google to Stop Advertising “Illegal Mass Events”
2019-08-11 16:07:42 UTC
MOSCOW (Reuters) - Russia’s state communications watchdog said on Sunday it had asked Google to stop advertising “illegal mass events” on its YouTube video platform.
Tens of thousands of Russians staged what observers called the country’s biggest political protest for eight years on Saturday, ...
No-Deal Brexit Would Cause Severe Damage to UK
2019-07-29 03:42:16 UTC
A no-deal Brexit would cause “severe” damage to UK businesses, according to the Confederation of British Industry (CBI).
Carolyn Fairbairn, director general of the lobby group, told BBC that quitting the EU without an agreement should be an option “that is not even considered”. Claims that fir...
Germany's Ursula Von Der Leyen to Lead EU Commission
2019-07-16 23:35:25 UTC
STRASBOURG (Reuters) - Germany’s Ursula von der Leyen secured European parliamentary approval on Tuesday to become the first female European Commission president on a platform of a greener, fairer and rule-based Europe.
The German conservative got the thumbs up from socialist and liberal lawma...
EU, South American Bloc Mercosur Announce World's Largest Free Trade Deal
2019-06-29 01:15:31 UTC
BRUSSELS (Reuters) - The European Union and South American bloc Mercosur agreed a free-trade treaty on Friday, concluding two decades of talks and committing to more open markets in the face of a rising tide of protectionism.
The two regions launched negotiations exactly 20 years ago and inten...
Mexico to Provide 40,000 Jobs to Migrants
2019-06-28 18:19:59 UTC
MEXICO CITY (Reuters) - Mexico is finalizing a deal to provide 40,000 factory jobs to migrants in northern states, President Andres Manuel Lopez Obrador said Friday, addressing a key need for the thousands waiting in Mexico as their U.S. asylum cases are decided.
Speaking at his daily press co...
Steve Jobs Design Chief to Start Own Firm
2019-06-28 00:58:11 UTC
(Reuters) - Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple’s rise to become a $1 trillion company, will leave later this year to form an independent design company.
Apple said Ive will continue work on its products at hi...
Euro Hits Three-Month High Against US Dollar
2019-06-24 04:00:44 UTC
TOKYO (Reuters) - The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve.
The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in ...
US Weekly Jobless Claims Rise; Imported Inflation Weak
2019-06-13 18:19:18 UTC
WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May.
Other data on Thursday showed import prices fell by the most in f...
US Ranks Last in the world for Maternity Leave
2019-06-13 18:25:15 UTC
NEW YORK, 13 June 2019 — Sweden, Norway, Iceland, Estonia and Portugal offer the best family-friendly policies among 31 rich countries with available data, according to a new UNICEF repot. Switzerland, Greece, Cyprus, United Kingdom and Ireland rank the lowest. The United States is the only count...
UK’s Johnson Threatens to Withhold $50 Billion Brexit Payment
2019-06-09 01:46:56 UTC
(Reuters) - Boris Johnson, the leading candidate to succeed Theresa May as Britain’s next prime minister, said he would withhold a previously agreed 39 billion pound ($50 billion) Brexit payment until the European Union gives Britain better exit terms.
The EU has repeatedly said it will not re...
US Economic Growth Continues to Slow
2019-06-07 16:37:19 UTC
NEW YORK (Reuters) - The U.S. economy is growing at a 1.4% annualized rate in the second quarter based on data that showed a weaker-than-forecast payrolls growth in May, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
This was a tad slower than the 1.5% pace estimated by ...