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European factories bounce as Asia struggles, but Brexit poses threats
LONDON/SYDNEY (Reuters) – Factories across Europe enjoyed a buoyant month in June but that growth could be under threat after Britons voted to leave the European Union last week, surveys conducted almost entirely before the historic referendum showed. Highlighting another worrying trend for the global economy, China's vast factory sector flatlined as exports shrank and jobs were cut, in... [Read more]
Bond yields sink as central banks head for easier policy
The prospect of further cuts in interest rates and bond-buying to support a fractured global economy kept stock markets on the up in Europe and Asia on Friday, and drove U.S. and European government bond yields to their lowest in years. Signs that the world's big central banks will go even easier on monetary conditions, extending … Read more: Bond yields sink as central banks head for easier... [Read more]
EU tells UK single market access requires full free movement
LONDON/BRUSSELS (Reuters) – European Union leaders met for the first time without Britain on Wednesday less than a week after it voted to leave, delivering a tough message that London can access the bloc's lucrative single market only if it agrees to allow free movement for EU workers. Last week's shock referendum vote to leave the EU has caused global financial market turmoil, sent... [Read more]
North American leaders vow to boost trade despite threats
By Roberta Rampton and David Ljunggren OTTAWA (Reuters) – Canada, the United States and Mexico on Wednesday vowed to deepen their economic ties, pushing back against anti-free-trade sentiment that has shifted political debate in the United States and Europe. The three nations are member of the North American Free Trade Agreement (NAFTA), which U.S. Republican presidential candidate Donald Trump... [Read more]
Japan eyes help for small business in stimulus plan after Brexit
Japan is likely to include assistance for small businesses in an economic stimulus package it will compile after Britain's shock vote to leave the European Union, Economy Minister Nobuteru Ishihara said on Tuesday. Japanese policymakers also said financial markets are starting to calm down after the Brexit vote last week, but repeated that they want… Original post: Japan eyes help for... [Read more]
U.S.-UK alliance seen outweighing Brexit trade concerns
The United States looks unlikely to follow through on a threat to relegate Britain to second-class trade status once its ally leaves the European Union, as it weighs the potential costs of undermining the countries' close diplomatic and military ties. President Barack Obama had warned ahead of Thursday's “Brexit” referendum that Britain would move to the back of the queue on... [Read more]
U.S. new home sales drop from eight-year high
New U.S. single-family home sales fell in May from a more than eight-year high amid weakness in three regions, but the overall housing market remains intact. The Commerce Department said on Thursday new home sales dropped 6.0 percent to a seasonally adjusted annual rate of 551,000 units. Economists polled by Reuters had forecast new home sales, which account for about 9.1 percent Original post: U.S.... [Read more]
Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen
The Federal Reserve's ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy is not faltering, Fed Chair Janet Yellen told lawmakers on Tuesday. … See original here: Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen Read More →
BP approves investment in Egypt gas field 15 months after discovery
British oil major BP has approved investment in the first phase of developing the large Atoll gas field offshore Egypt, only 15 months after it first announced its discovery. BP, which declined to give an investment figure for the project, said the field was on track to deliver its first gas in the first half of 2018, set to pump 300 million cubic feet a day of gas to the Egyptian market. BP decided... [Read more]
With oil price near $50, resilient U.S. shale producers eye new chapter
Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency. To regain market share, the Organization Read the original here: With oil price near $50, resilient U.S. shale producers eye new chapter Read More →