News
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Fed minutes show little support for interest rate cut later this month
WASHINGTON, July 9 (Reuters) - Only "a couple" of officials at the Federal Reserve's June 17-18 meeting said they felt interest rates could be reduced as soon as this month, with most policymakers remaining worried about the inflationary pressure they expect to come from President Donald Trump's useReuters
Thu, Jul 10
Philippines plans to negotiate with US to lower tariffs, envoy to Washington says
MANILA, July 10 (Reuters) - The Philippines is planning to negotiate with Washington to lower tariffs after the United States moved to impose higher 20% tariffs on goods imported from Manila, its ambassador to the United States said on Thursday."We are still planning to negotiate that down,"...Reuters
Wed, Jul 9
Bassett Furniture's Q2 revenue rises 1.1%, beats expectations
OverviewBassett Furniture's fiscal Q2 revenue rises 1.1%, beating analyst expectations, per LSEG dataDiluted EPS of $0.22 beats analyst estimatesReports operating income of $2.5 mln from a loss of $8.5 million last yearOutlookCompany cites weak housing market affecting consumer confidenceBassett...Reuters
Wed, Jul 9
Car import quotas, export credits on table for EU-US trade talks, sources say
EU seeking US trade deal ahead of August 1 deadlineUS-EU talks moving fast, officials and industry sources sayEasing of US car tariffs essential for a deal, EU diplomat saysUS imposed 25% import tariff on cars in AprilBy Christoph Steitz, Julia Payne and David Lawder FRANKFURT/BRUSSELS/WASHINGTON...Reuters
Wed, Jul 9
Tariffs drive US clothing imports from China to 22-year low in May
US imported $556 million worth clothing from China in May, down from $796 million in April - dataUS apparel imports from Mexico rose 12% in May from year earlier - dataBy Helen Reid and Siddharth CavaleLONDON/NEW YORK, July 9 (Reuters) - The value of apparel imports from China to the U.S. fell in Ma...Reuters
Wed, Jul 9
Wall Street pushes out end of Fed balance sheet wind-down, minutes show
Fed minutes show another push back for end of balance sheet wind-downMarkets now see February as stopping point for quantitative tighteningLiquidity levels likely to contract faster in wake of government budget billBy Michael S. Derby NEW YORK, July 9 (Reuters) - Financial market participants hav...Reuters
Wed, Jul 9
Fed minutes show Wall Street again expecting later end of balance sheet wind-down
By Michael S. DerbyNEW YORK, July 9 (Reuters) - Financial market participants have pushed out yet again the end date for the effort to shrink the size of the Federal Reserve’s still large balance sheet, central bank meeting minutes released on Wednesday said.The drawdown of the Fed’s stock of bonds ...Reuters
Wed, Jul 9
Fed minutes show narrow support for rate cut later this month
Minutes cover June 17-18 policy meeting debateDiscussion focused on inflation risksRate cut still expected in SeptemberBy Howard Schneider WASHINGTON, July 9 (Reuters) - Only "a couple" of officials at the Federal Reserve's June 17-18 meeting said they felt interest rates could fall a...Reuters
Wed, Jul 9
Bank of France estimates Q2 French economic growth of around 0.1%
PARIS, July 9 (Reuters) - The French economy grew by around 0.1% in the second quarter, the Bank of France said in its monthly economic outlook on Wednesday, adding that uncertainty over U.S. trade tariffs continued to weigh on businesses.The central bank's survey of about 8,500 companies showed...Reuters
Wed, Jul 9
ANALYSIS-Copper glut driven by tariff threat to deflate US price bubble
Possible Chile exemption adds market uncertaintyPanmure Liberum expect US copper demand dropping 16% in 2025LME copper stocks plunge as metal heads to U.S.By Pratima Desai LONDON, July 9 (Reuters) - U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of th...Reuters
Wed, Jul 9
Trump announces another batch of sweeping tariffs
US President Donald Trump hit the ground running on Wednesday, unveiling his next list of countries that will be facing double-digit tariffs on August 1 if satisfactory trade deals are not delivered. Trump also reiterated his warnings of an additional 10% tariff on any BRICS-aligned country.Fxstreet
Wed, Jul 9
Global insurance premium growth to slow to 2% in 2025, Swiss Re warns
By Ashish TiwariJuly 9 - (The Insurer) - Global insurance premium growth is expected to slow to 2.0% in 2025, down from 5.2% last year, Swiss Re Institute said in its World Insurance Sigma report on Wednesday.The slowdown was attributed to global macroeconomic uncertainty, fuelled by U.S. tariffs. S...Reuters
Wed, Jul 9
Mexico's annual inflation eases in June, core pressures remain
By Aida Pelaez-Fernandez MEXICO CITY, July 9 (Reuters) - Mexico's annual inflation rate eased in June after rising for four straight months, though core prices kept climbing, fueling expectations the central bank could slow the pace of interest rate cuts, official data showed on Wednesday. Co...Reuters
Wed, Jul 9
US crude stockpiles rise, gasoline falls on July 4 driving demand, EIA says
By Arathy SomasekharHOUSTON, July 9 (Reuters) - U.S. crude oil stockpiles rose unexpectedly last week, while gasoline drew down on the back of strong driving demand ahead of the July 4 weekend. Crude inventories rose by 7.1 million barrels to 426 million barrels in the week ended July 4, the EIA s...Reuters
Wed, Jul 9
