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JD Vance asks for patience in Pennsylvania on US cost of living
VP JD Vance visits Pennsylvania to highlight economic policiesTour includes Uline warehouse, owned by major Trump donorsRising costs and inflation create political pressure for RepublicansBy Jarrett Renshaw ALBURTIS, Pennsylvania, Dec 16 (Reuters) - U.S. Vice President JD Vance called for patienc...Reuters
Tue, Dec 16
EU drops 2035 combustion engine ban as global EV shift faces reset
EU sets 90% car CO2 emission reduction target for 2035EU's EV policy shift may benefit Chinese automakersComes after Ford takes $19.5 bln charge, retreats from EVsAnalysts say picture more nuanced in Europe vs USBy Philip Blenkinsop STRASBOURG, Dec 16 (Reuters) - The European Commission unvei...Reuters
Tue, Dec 16
US jobless rate for Blacks and teens surges in November
Dec 16 (Reuters) - The unemployment rate for two U.S. groups that are often the most vulnerable to job loss in a softening economy - Blacks and teenagers - surged to the highest levels in more than four years in November, Labor Department data showed on Tuesday.The jobless rate for Blacks hit 8.3% i...Reuters
Tue, Dec 16
US overdraft fees jump at big banks amid regulatory, economic shifts
Most of the largest US retail banks posted jumps in overdraft fee incomeIncreases follow Republican move to nix Biden-era overdraft capsFigures are nevertheless far below historical levelsBy Douglas Gillison WASHINGTON, Dec 16 (Reuters) - Fourteen of the largest U.S. retail banks posted jumps in ...Reuters
Tue, Dec 16
Euro zone yields steady as global data paints mixed picture
Euro zone government bond yields steadyEuro zone flash PMIs weaker than expectedUS labour market data mixedBy Lucy Raitano and Samuel Indyk LONDON, Dec 16 (Reuters) - Euro zone government bond yields were little changed on Tuesday as traders weighed weaker-than-expected business activity data fro...Reuters
Tue, Dec 16
Russian bank VTB to create agriculture giant from nationalised assets, CEO says
MOSCOW, Dec 1 (Reuters) - Russia's second-largest bank VTB plans to create a large agricultural holding from nationalised assets it had bought in the southern regions in December 2024, VTB's CEO Andrei Kostin told Reuters. He said the new holding will focus on domestic processing of grains a...Reuters
Tue, Dec 16
BREAKINGVIEWS-Economic levitation trick will be hard to sustain
By Gabriel Rubin WASHINGTON, Dec 16 (Reuters Breakingviews) - The U.S. economy has turned into a whodunnit, or maybe a whatnotdunnit. In April, after President Donald Trump stood with a large posterboard and announced the end of decades of free trade, JPMorgan analysts put the odds of a recession...Reuters
Tue, Dec 16
US rate futures lift odds of January cut after unemployment rises in November
Odds for rate cut pause in January still more than 70% Market still sees two rate cuts in 2026Fed likely to resume cutting rates again in June next yearBy Gertrude Chavez-Dreyfuss NEW YORK, Dec 16 (Reuters) - U.S. rate futures on Tuesday raised the probability of the Federal Reserve cutting inter...Reuters
Tue, Dec 16
US business inventories increase slightly more than expected in September
WASHINGTON, Dec 16 (Reuters) - U.S. business inventories increased slightly more than expected in September, suggesting inventories probably added to economic growth in the third quarter.Inventories rose 0.2% after being unchanged in August, the Commerce Department's Census Bureau said. Inventor...Reuters
Tue, Dec 16
Czech government shifts renewables charge onto budget to cut electricity prices
PRAGUE, Dec 16 (Reuters) - The new Czech government will take 17 billion crowns ($823.84 million) in next year's payments for renewable electricity for customers onto the state budget from January in order to cut final prices for households and companies, Industry and Trade Minister Karel Havlic...Reuters
Tue, Dec 16
US Treasury's Bessent says next Fed chair needs 'an open mind'
WASHINGTON, Dec 16 (Reuters) - Both Kevin Warsh and Kevin Hassett are qualified to lead the Federal Reserve, U.S. Treasury Secretary Scott Bessent said on Tuesday, adding that any candidate President Donald Trump picks for the job needs to have "an open mind". "They are both very...Reuters
Tue, Dec 16
TREASURIES-US yields mixed as data distortions cloud jobs picture
Unemployment rate rises, data clouded by government shutdown distortionsEconomists expected 50,000 jobs, actual increase was 64,000Fed unlikely to cut rates soon, awaits job market clarity NEW YORK, Dec 16 (Reuters) - U.S. Treasury yields were mixed on Tuesday with benchmark 10-year note yields r...Reuters
Tue, Dec 16
White House adviser Hassett: Fed independence is really important
WASHINGTON, Dec 16 (Reuters) - White House economic adviser Kevin Hassett, one of President Donald Trump's top contenders to lead the Fed, said the independence of the central bank was important, amid concerns he might be too close to the president."The Federal Reserve's independence is ...Reuters
Tue, Dec 16
US S&P Global Manufacturing PMI declines to 51.8, Services PMI falls to 52.9 in December
The business activity in the United States' (US) private sector continued to expand in December, albeit at a softer pace than it did in November, with the S&P Global Composite Purchasing Managers' Index (PMI) declining to 53 from 54.2.Fxstreet
Tue, Dec 16
Europe's leaders and laggards in electric vehicle sales
By Nick Carey and Marie Mannes LONDON/STOCKHOLM, Dec 16 (Reuters) - As the European Union has looked to push carmakers towards electric vehicles, sales of EVs across the continent have been uneven, skewed more to northern and western countries, while nations further south and east have tended to ...Reuters
Tue, Dec 16
U.S. business activity growth hits 6-month low in December
Dec 16 (Reuters) - U.S. business activity growth slowed in December to the weakest pace since June, with new orders sliding for both manufacturers and service providers to cap a year of volatility and uncertainty for the American economy, survey data showed on Tuesday.S&P Global said its "fl...Reuters
Tue, Dec 16
