Economic News
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As bank earnings roll in, a mixed picture for loans
(Reuters) - JPMorgan Chase & Co, the largest U.S. bank and often heralded as a bellwether for the economy, on Wednesday reported an eye-popping increase in its profit for the first quarter.
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S&P 500 dips off record high, Dow rises on bank earnings
(Reuters) - The S&P 500 dipped after hitting a record high for the fourth session in five and the Dow Industrials rose on Wednesday, as Wall Street banks kicked off earnings season with first-quarter numbers that lifted hopes for a strong corporate rebound.
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U.S. import prices increase solidly, seen temporarily boosting inflation
WASHINGTON (Reuters) - U.S. import prices increased more than expected in March, lifted by higher costs for petroleum products and tight supply chains, the latest sign of inflation heating up as the economy reopens.
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Analysis: Hot or cold war? Investors try to second guess Russia's military manoeuvres
LONDON (Reuters) - Fund managers are trimming exposure to Russia and Ukraine on fears that years of tensions could finally erupt into outright war, bringing economic ruin for Ukraine and more sanctions on Russia.
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U.S. Treasury sets up new 'recovery office' to oversee relief programs
WASHINGTON (Reuters) - The U.S. Treasury Department on Wednesday unveiled a new office to oversee the implementation of economic relief programs, including nearly $420 billion in programs under President Joe Biden's $1.9 trillion COVID-19 rescue plan.
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Pace of U.S. economic recovery accelerates, Fed says
(Reuters) - The U.S. economic recovery accelerated to a moderate pace from late February to early April as consumers, buoyed by increased COVID-19 vaccinations and strong fiscal support, opened their wallets to spend more on travel and other items, the Federal Reserve said on Wednesday.
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Powell: QE taper likely 'well before' interest rate increase
WASHINGTON (Reuters) - The Federal Reserve will reduce its monthly bond purchases before it commits to an interest rate increase, Fed Chair Jerome Powell said on Wednesday, clarifying the order of monetary policy changes that are still months if not years in the future.
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Analysis: Cuban Communists under pressure to accelerate economic reforms
HAVANA (Reuters) - Retiring Cuban Communist Party leader Raul Castro promised a decade ago he would transform the Soviet-style command economy into a more mixed and market-driven one "without haste and without pause."
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UK's Johnson says he shares concerns over Greensill lobbying
LONDON (Reuters) -British Prime Minister Boris Johnson said on Wednesday he shared concerns over a growing lobbying scandal involving former leader David Cameron who tried to get ministers to help out the now failed supply-chain finance firm Greensill Capital.
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Fitch to wait until next year to make final COVID-19 judgments
LONDON (Reuters) - Credit rating agency Fitch says is it likely to wait until next year before making final judgment calls on many of the countries still on downgrade warnings due to the COVID-19 crisis.
