News
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Solid US job growth masks loss of labor market momentum
WASHINGTON, July 3 (Reuters) - U.S. job growth was unexpectedly solid in June, but nearly half of the increase in nonfarm payrolls came from the government sector, with private industry gains the smallest in eight months as businesses battled rising economic headwinds.Reuters
Fri, Jul 4
Steady job market keeps Fed on hold amid tariff uncertainty
July 3 (Reuters) - Unexpectedly solid job gains in June bolstered the case for the Federal Reserve to keep interest rates on hold to keep downward pressure on inflation, with one U.S. central banker saying it could take a year or more for the economy to adjust to the Trump administration's tariff anReuters
Fri, Jul 4
Tesla's UK sales rise 12% in June from a year ago, New AutoMotive data shows
July 4 (Reuters) - Tesla's TSLA.O new car sales in Britain grew 12% year-on-year in June, data from research group New AutoMotive showed on Friday, as the U.S. automaker started deliveries of its updated Model Y last month.Overall, Britain's new car registrations in June grew 12.8% from the ...Reuters
Thu, Jul 3
US electric vehicle tax breaks will expire on Sept. 30
By David Shepardson July 3 (Reuters) - It is the end of the line for U.S. electric vehicle tax credits.Sweeping tax and budget legislation approved by Congress on Thursday means $7,500 tax credits for buying or leasing new electric vehicles will end on September 30, as well as a $4,000 used EV cr...Reuters
Thu, Jul 3
INSTANT VIEW-U.S. House approves Trump's mega budget bill
July 3 (Reuters) - The Republican-controlled U.S. House of Representatives passed President Donald Trump's massive tax-cut and spending bill on Thursday.The megabill, which makes permanent the lower individual and business tax rates in Trump's 2017 tax cut package, will add $3.4 trillion to...Reuters
Thu, Jul 3
INSTANT VIEW-U.S. House approves Trump's mega budget bill
July 3 (Reuters) - The Republican-controlled U.S. House of Representatives passed President Donald Trump's massive tax-cut and spending bill on Thursday.The megabill, which makes permanent the lower individual and business tax rates in Trump's 2017 tax cut package, will add $3.4 trillion to...Reuters
Thu, Jul 3
US, Colombia recall their ambassadors in diplomatic tussle
US recalls diplomat, citing high-level Colombian government statementsColombia recalls ambassador to US, Colombian president saysTrump, Columbian President Petro clashed in JanuaryBy Daphne Psaledakis WASHINGTON, July 3 (Reuters) - The United States has recalled its top diplomat from the U.S. emb...Reuters
Thu, Jul 3
IMF to combine reviews of Egypt's $8 billion loan program
By Andrea Shalal WASHINGTON, July 3 (Reuters) - The International Monetary Fund on Thursday said it would combine the fifth and sixth reviews of Egypt's $8 billion support program this fall to give authorities more time to meet critical objectives of its economic reform program.IMF spokeswoma...Reuters
Thu, Jul 3
TREASURIES-US yields climb on strong jobs data; market prices out July rate cut
June payrolls exceed expectations, July move off the tableRepublicans advance bill to raise debt ceiling by $5 trillionAnalysts highlight weaker details in jobs report, caution on private sector slowdownBessent says rate cuts could be higher in SeptemberBy Gertrude Chavez-Dreyfuss NEW YORK, July ...Reuters
Thu, Jul 3
Trump administration will focus on Fed chair replacement in fall, Bessent says
Bessent says happy in current jobTreasury chief argues tariffs not driving up inflation 'thus far'No Fed rate cut now could lead to bigger cut in September, Bessent saysBy Andrea Shalal WASHINGTON, July 3 (Reuters) - The Trump administration will focus on finding a replacement for Federal...Reuters
Thu, Jul 3
How Trump is starting to shape the job market
Federal workforce shrinks by 60,000 under TrumpNative-born employment rises, foreign-born employment dropsFactory jobs decline despite tariff policiesBy Dan BurnsJuly 3 (Reuters) - Roughly half a year into his second stint in the White House, President Donald Trump is starting to shape portions of t...Reuters
Thu, Jul 3
Fed's Bostic says coming inflation pressure could last a while
WASHINGTON, July 3 (Reuters) - Inflation flowing from Trump administration trade and other policies could last longer than expected, in part because of the drawn out nature of the discussions, Atlanta Fed president Raphael Bostic said on Thursday."There is a pretty significant risk that upward p...Reuters
Thu, Jul 3
Euro zone bond yields edge lower as US debt sells off after jobs data
LONDON, July 3 (Reuters) - Euro zone government bond yields ended Thursday lower with the focus on events outside the currency bloc, after U.S. jobs data blew past expectations, and the British gilt market after the previous day's sharp selloff there.Germany's 10-year bond yield closed down ...Reuters
Thu, Jul 3
Bessent: Fed to decide on rates, Powell replacement discussions in fall
US Treasury Secretary Scott Bessent, in an interview on CNBC, stated that it is up to the Federal Reserve to decide on interest rates. He added that if the Fed does not cut in July, "perhaps interest rate cut in September will be bigger."Fxstreet
Thu, Jul 3
Exxon returns some Stabroek acreage to Guyana, government says
By Kemol King GEORGETOWN, July 3 (Reuters) - An Exxon Mobil-led XOM.N oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government, the Ministry of Natural Resources said in a statement on Wednesday. The relinquishment is part of a contractual require...Reuters
Thu, Jul 3
