Finance

Finance

Fed chief Powell says ‘sustained expansion’ likely for U.S. economy

November 13, 2019 By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – U.S. central bankers see a “sustained expansion” ahead for the country’s economy, with the full impact of recent interest rate cuts still to be felt and low unemployment boosting household spending, Federal Reserve Chair Jerome Powell said on Wednesday in remarks that brushed […]

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Finance

Breakdown of trust in financial system deepens crisis in Lebanon

November 13, 2019 By Tom Arnold BEIRUT (Reuters) – Lebanese student Fatima Jaber’s family is struggling to pay off multiple loans with double-digit interest rates. Even before the start of protests that have forced out Lebanon’s prime minister, her confidence was fading in a financial system long regarded as a pillar of stability. But now, […]

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Finance

U.S. farmers to leverage land as farm economy deteriorates: survey

November 13, 2019 By P.J. Huffstutter DALLAS (Reuters) – As the U.S.-China trade war drags on, more farmers are expected to take out debt against the land they own – their collateral of last resort – to keep their operations going, according to a survey of lenders. The survey found that bankers are increasingly worried […]

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Finance

Oil falls as U.S.-China trade deal prospects dim

November 13, 2019 By Florence Tan and Dmitry Zhdannikov SINGAPORE/LONDON (Reuters) – Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand. U.S. President Donald Trump said on Tuesday the two countries were close to finalizing […]

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Finance

Chinese importers buy U.S. soybean cargoes despite ports congestion

November 13, 2019 By Hallie Gu and Karl Plume BEIJING/CHICAGO (Reuters) – Chinese commercial importers made new purchases of U.S. soybeans this week, according to two sources, even as up to 2 million tonnes of American cargoes were waiting to offload at ports in China as its stockpiler looked for storage room. Chinese commercial crushers […]

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Finance

Frustration, safety fears at finance firms as protests paralyze Hong Kong

November 13, 2019 By Scott Murdoch and Sumeet Chatterjee HONG KONG (Reuters) – Finance firms in Hong Kong urged staff on Wednesday to seek safety or work from home as anti-government protests paralyzed the city’s business district for a third day in one of the biggest disruptions faced by the Asian finance hub. While flexible […]

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Finance

OPEC Secretary General says U.S.-China trade deal would remove ‘dark cloud’ on oil market

November 13, 2019 ABU DHABI (Reuters) – OPEC’s Secretary General Mohammad Barkindo said on Wednesday he is confident that the United States and China would reach a trade deal and that it would remove a “dark cloud” over the oil market. It is premature to discuss the December OPEC+ decision and it is too early […]

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Finance

European shares fall on Hong Kong unrest, Trump’s disappointing trade comments

November 13, 2019 By Susan Mathew (Reuters) – European shares retreated from four-year highs on Wednesday, as a highly anticipated speech by U.S. President Donald Trump gave scant clues on the progress of a trade deal with China, and as anti-government protests in Hong Kong raged on, denting sentiment. Banks with significant exposure to Hong […]

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Finance

New Zealand dollar set for biggest jump this year on central bank surprise

November 13, 2019 LONDON (Reuters) – The New Zealand dollar provided the standout performance in otherwise unremarkable currency markets on Wednesday as it stood set to notch its biggest daily gain in a year after the central bank stunned investors by keeping interest rates on hold. Hedge funds and banks had built up massive short […]

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Finance

NZ holds interest rates, clips doves’ wings as kiwi soars

November 13, 2019 By Praveen Menon and Charlotte Greenfield WELLINGTON (Reuters) – New Zealand’s central bank surprised investors by holding interest rates at an all-time low of 1% on Wednesday saying it saw no urgency to ease policy further, sending the kiwi dollar sharply higher. Increases in wage growth and non-tradable inflation together with a […]

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