EU leaders reaffirm support for Ukraine, squabble over gas cap

EU leaders reaffirm support for Ukraine, squabble over gas cap

Division over details of gas price cap European Commission to make proposals for EU summit on Oct.20-21 Poland criticises Germany for big spending on compensation EU27 vow continued financial and military support for Ukraine Scholz says rebuilding Ukraine will take a generation PRAGUE, Oct 7 (Reuters) – European Union leaders on Friday agreed to give … Read more

Japan’s foreign reserves drop by record on market shakeout, FX intervention

Japan’s foreign reserves drop by record on market shakeout, FX intervention

Japan foreign reserves down for two straight months Japan’s $1.238 trillion reserves second largest after China Drop in reserves comes after last month’s FX intervention Authorities mum on speculation about selling U.S. Treasuries Never felt limit to “ammunitions” for FX intervention – Kanda TOKYO, Oct 7 (Reuters) – Japan’s foreign reserves fell by a record … Read more

Credit Suisse pays down debt to calm investor fears

Credit Suisse pays down debt to calm investor fears

To buy back up to $3 billion in debt Seen as bid to reassure nervous investors Move comes weeks ahead of planned overhaul Shares up as much as 3% in early trade ZURICH, Oct 7 (Reuters) – Credit Suisse (CSGN.S) will buy back up to 3 billion Swiss francs ($3 billion) of debt, the embattled … Read more

Wall Street closes lower as the Fed pounds rate hike drum

Wall Street closes lower as the Fed pounds rate hike drum

Oil prices add to inflation woes post-OPEC+ output cut U.S. weekly jobless claims increase more than expected Indexes fall: Dow down 1.15%, S&P 1.02%, Nasdaq 0.68% Oct 6 (Reuters) – Wall Street’s major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal … Read more

Dust settles on stocks surge, OPEC+ talks supply cuts

Dust settles on stocks surge, OPEC+ talks supply cuts

LONDON, Oct 5 (Reuters) – World stocks clung to two-week highs on Wednesday, although another aggressive rate increase from New Zealand tempered the idea that central banks may be close to slowing down the pace of rapid monetary tightening. Oil prices were little changed before a meeting of OPEC+ producers to discuss a big cut … Read more

OPEC+ heads for deep supply cuts, clash with U.S.

OPEC+ heads for deep supply cuts, clash with U.S.

VIENNA/LONDON, Oct 5 (Reuters) – OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. The potential OPEC+ cut could spur a recovery in oil prices that have dropped to about … Read more

U.S. job openings drop sharply, labor market starting to loosen

U.S. job openings drop sharply, labor market starting to loosen

Job openings fall 1.1 million to 10.053 mln in August Healthcare, retail trade lead decline in vacancies Quits, layoffs, hiring increase moderately WASHINGTON, Oct 4 (Reuters) – U.S. job openings fell by the most in nearly 2-1/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher … Read more

Nasdaq jumps as easing Treasury yields lift growth stocks; Twitter surges

Nasdaq jumps as easing Treasury yields lift growth stocks; Twitter surges

Twitter jumps on news Musk to resume buyout at $54.20/share Rivian jumps on reaffirming FY deliveries view; lifts peers U.S. job openings post biggest drop in 2.5 years in August Indexes up: Dow 2.42%, S&P 2.63%, Nasdaq 2.92% Oct 4 (Reuters) – The Nasdaq led Wall Street higher on Tuesday, powered by megacap growth and … Read more

Britain’s weakened Truss faces fight for credibility

Britain’s weakened Truss faces fight for credibility

BIRMINGHAM, England, Oct 4 (Reuters) – British Prime Minister Liz Truss had hoped her governing Conservative Party’s annual conference would be her crowning glory, but instead she was forced into a humiliating U-turn that has left her, and her team, fighting for credibility. After less than a month in the job, Truss’s reversal on Monday … Read more

UK’s Truss refuses to rule out welfare cuts to fund economic plan

UK’s Truss refuses to rule out welfare cuts to fund economic plan

Pressure builds over future benefit policy Truss, Kwarteng to set out full fiscal plan Truss refuses to rule out limits to welfare payments BIRMINGHAM, England Oct 4 (Reuters) – Britain’s new Prime Minister Liz Truss triggered a fresh row in her party on Tuesday by suggesting that she could limit increases in benefit payments by … Read more