Reuters USA

WASHINGTON (Reuters) – Inflation is the biggest headwind facing the U.S. economy right now and U.S. Federal Reserve officials “remain determined” to lower it back to the central bank’s 2% target, Atlanta Federal Reserve bank president Raphael Bostic said on Thursday. Inflation “is way too high here in the United States….I and the Federal Open …

Fed’s Bostic: Officials “remain determined” to beat inflation Read More »

(Reuters) – Real estate broker Compass Inc said on Thursday it would cut more jobs to deal with a downturn in the housing market as it set a target of becoming free cash flow positive by the end of the second quarter. Rising mortgage rates have made homes unaffordable for many in the past few …

Real estate broker Compass to cut more jobs to deal with housing downturn Read More »

(Reuters) -U.S. online spending during the 2022 holiday season rose by a better-than-expected 3.5%, a report by Adobe Analytics showed, as retailers used hefty discounts to lure inflation-weary consumers into spending on everything from toys to electronics. Shoppers spent a record $211.7 billion online over the holiday season, which typically starts in November and ends …

Heavy discounts drive record U.S. online holiday spending – report Read More »

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a three-month low last week while layoffs fell 43% in December, pointing to tight labor market that could require the Federal Reserve to keep hiking interest rates. Initial claims for state unemployment benefits decreased 19,000 to a seasonally adjusted 204,000 …

U.S. weekly jobless claims at three-month low; layoffs drop in December Read More »

OTTAWA (Reuters) – Canada posted a trade deficit of C$41 million ($30.32 million) in November, driven by lower exports of energy products, with both imports and exports affected by the appreciation of the Canadian dollar, Statistics Canada said on Thursday. Analysts had forecast Canada to post a C$610 million surplus. Exports were down 2.3%, largely …

Canada posts C$41 million Nov trade deficit on lower energy exports Read More »

WASHINGTON (Reuters) – U.S. private payrolls increased more than expected in December, pointing to still-strong demand for labor despite higher interest rates. Private employment increased by 235,000 jobs last month, the ADP National Employment report showed on Thursday. Data for November was unrevised to show 127,000 jobs added. Economists polled by Reuters had forecast private …

U.S. private payrolls beat expectations in December – ADP Read More »

NAIROBI (Reuters) – Kenya will not default on its debt and plans to ramp up tax collection in the next two years, President William Ruto said on Wednesday. Ruto’s government, which took over in September, has pledged to curb expensive commercial borrowing in favour of cheaper sources like the World Bank to reduce debt servicing …

Kenya will not default on its debt payments -President Ruto Read More »

By Jarrett Renshaw (Reuters) – The Democratic Party’s unseating of Iowa from its position as host of the first U.S. presidential nominating contest every four years is a blow that could also reshape the corn and biofuels industries throughout the Midwest, lobbyists and political consultants say. Backed by President Joe Biden, the party is set …

Analysis-Democrats’ downgrade of Iowa’s role is a blow to Corn Belt, biofuels Read More »

By Andrea Shalal and Kanishka Singh WASHINGTON (Reuters) -The U.S. Justice Department filed a brief with the Supreme Court late on Wednesday defending President Joe Biden’s plan to cancel billions of dollars in federal student loans, arguing that two cases lacked standing to challenge the debt relief. Biden in August said the U.S. government would …

U.S. defends Biden’s student debt relief plan in Supreme Court brief Read More »