Wall Street opens higher on upbeat start to earnings
(Reuters) - U.S. stocks opened higher on Tuesday, as strong earnings reports from JPMorgan Chase, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on corporate America.
Banks reap $1 billion from U.S. mortgage bond trading boom
LONDON (Reuters) - Global banks earned $1 billion from trading government-backed U.S. mortgage securities in the first half of 2019, data shows, a fivefold increase on last year for what industry sources say is the fastest growing revenue source in investment banking.
IMF says trade war cuts global growth to lowest since financial crisis a decade ago
WASHINGTON (Reuters) - The U.S.-China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis, the International Monetary Fund warned on Tuesday, adding that the outlook could darken considerably if trade tensions remain unresolved.
Fed's Bullard: risks remain high, Fed on 'meeting by meeting' basis
LONDON (Reuters) - St. Louis Federal Reserve Bank President James Bullard said global trade and other risks remain high for a U.S. economy that may slow more sharply than expected.
Brexit to be delayed again, free trade deal will be struck: economists - Reuters poll
LONDON (Reuters) - Britain's Oct. 31 departure from the European Union will be delayed, according to the vast majority of economists polled by Reuters who again said the two sides would eventually agree a free trade agreement as the chance of a no-deal exit had fallen.
BoE's Vlieghe sees lower rates if Brexit delayed again
LONDON (Reuters) - The Bank of England will probably need to cut interest rates if Brexit is postponed again, rate-setter Gertjan Vlieghe said on Tuesday, adding to the debate at the central bank about the right response to another delay.
Mexico finance minister says he is losing sleep over slowing economy
WASHINGTON (Reuters) - Mexico's economy is not in recession yet but the federal government is trying to counter an economic slowdown with targeted infrastructure spending, the country's finance minister said on Tuesday.
Spain trims economic growth outlook with trade row in mind
MADRID (Reuters) - Spain's acting government has lowered its growth forecasts due to domestic and external factors such as trade tensions and raised its deficit estimate, just as political gridlock narrows Madrid's room for manoeuvre on budgetary matters.
Exclusive: French insurer AXA considers selling up in Central Europe - sources
WARSAW/FRANKFURT (Reuters) - French insurer AXA
is considering selling its Central European business as part of a restructuring to quit markets where it lacks scale, three sources familiar with the situation said.
IMF expects Egypt economy to grow 5.9% in year to end of June
CAIRO (Reuters) - Egypt's economy is expected to grow 5.9% in the year ending in June, the International Monetary Fund said on Tuesday -- unchanged from its April forecast but below the government's target of 6% to 7%.