Fed's Powell bets economy will navigate new coronavirus surge
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell's belief that the U.S. economy has "learned to handle" the coronavirus and won't be swamped in a fresh wave of infections or by rising inflation may get tested in coming weeks as schools reopen, supply chains remain clogged, and federal unemployment benefits wane.
World stocks on course for sixth month of gains, dollar near 1-mth low
LONDON (Reuters) - Global shares tracked Asia lower on Friday but remained on course for their sixth straight month of gains as solid corporate earnings and central bank largesse kept sentiment intact, while the dollar held near a one-month low.
Take Five: Jobs, crackdowns and a fork
Euro zone rebounds strongly, inflation above ECB target
BRUSSELS (Reuters) -The euro zone economy grew faster than expected in the second quarter, pulling out of a recession caused by the COVID-19 pandemic as curbs to stop the virus were eased, while inflation shot past the European Central Bank's 2% target in July.
Marketmind: Ready for a summer lull?
LONDON (Reuters) - A look at the day ahead from Karin Strohecker.
China watchdog says to continue with efforts to expand access for foreign investors
BEIJING (Reuters) - China's banking and insurance watchdog said it would seek to stabilise the expectations of foreign investors by continuing with efforts to implement policies designed to expand their market access.
Hong Kong's economic recovery loses steam in Q2, but recovery on track
HONG KONG (Reuters) - Hong Kong's economy lost some momentum in the second quarter but still expanded by 7.5% from a year earlier, as domestic and global activity continued to recover from last year's pandemic-induced slump.
Japan eyes fresh stimulus package as new curbs weigh on growth
TOKYO (Reuters) - Japan will act "without hesitation" to cushion the economic blow from the COVID-19 pandemic, economy minister Yasutoshi Nishimura said on Friday, signalling the government's readiness to compile another spending package as the crisis weighs on growth.
Bonds see large inflows, TIPS pull in record money in weekly flows - BofA
LONDON (Reuters) - Bond funds enjoyed the largest inflows in three weeks at $12.7 billion in the week to Wednesday with investors putting a record amount of $3.2 billion into Treasury Inflation-Protected Securities (TIPS), BofA said on Friday.
Allianz gets approval for first wholly foreign owned insurance asset management firm in China
HONG KONG (Reuters) - Allianz said on Friday that its local Chinese asset management unit had received regulatory approval and would be the first wholly foreign-owned insurance asset management company in the country.