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☆ FedEx says U.S. Express service disrupted, blames FAA IT outage overnight
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Bing Guan/File Photo Acquire Licensing RightsLOS ANGELES, Oct 25 (Reuters) - FedEx Corp (FDX.N) on Wednesday said its U.S. Express deliveries could be delayed due to an overnight Federal Aviation Administration (FAA) information technology system outage. FedEx's signature Express service uses planes to provide overnight deliveries. The company said shipments delayed due to the outage are not eligible for a refund or credit. "Potential delays are possible for package deliveries across the U.S. with a delivery commitment of October 25, 2023," FedEx said in a service alert. In an email to Reuters, FedEx said the IT outage at its Memphis, Tennessee, air hub was an "FAA issue."

Persons: Bing Guan, Lisa Baertlein, David Shepardson, Alexander Smith Organizations: FedEx, REUTERS, FedEx Corp, U.S ., Federal Aviation Administration, Reuters, FAA, United Parcel Service, Washington DC, Thomson Locations: Carson , California, U.S, Memphis , Tennessee, Louisville , Kentucky, Los Angeles, Washington

A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, U.S., March 17, 2023. Gasoline stocks (USOILG=ECI) rose by about 160,000 barrels in the week to 223.5 million barrels, the EIA said, compared with expectations for a 900,000-barrel drop. "It will reverse the gasoline crack," Yawger said, referring to the profit oil refiners can make producing gasoline from crude. U.S. crude futures last traded at just over $83 per barrel, while Brent crude futures was around $87.50 a barrel. Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) rose by 213,000 barrels in the last week, EIA said.

Persons: Bing Guan, Bob Yawger, Yawger, Stephanie Kelly, Laura Sanicola, Marguerita Choy Organizations: REUTERS, Energy Information Administration, EIA, Mizuho, Brent, Cushing, Net, Thomson Locations: West, Iraan , Texas, U.S, Oklahoma

☆ China to choose fiscal muscle over big reforms to revive economy
▼ + stars: | 2023-10-24 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

The foundation of economic recovery is not solid," said an adviser to the cabinet who spoke on condition of anonymity. The debate about economic policy in China has heated up in recent months with some government advisers advocating reforms to help unleash new growth engines beyond property and infrastructure investment. For those looking for structural reforms, the focus is on policies that spur urbanisation and household spending power, reduce the reliance on investment and level the playing field between state-owned enterprises and private firms. "Fiscal policy should still play the leading role next year," said Xu Hongcai, deputy director of the economic policy commission at the state-backed China Association of Policy Science. "We should push reforms as many problems are structural, but reforms are difficult to implement and require political will," said one policy insider.

Persons: Xu Hongcai, Xu, Guan Tao, Kevin Yao, Sam Holmes Organizations: Reuters, China Association of Policy, BOC International, State Administration of Foreign Exchange, Communist, Thomson Locations: China, BEIJING, Beijing

☆ Analysis: China to choose fiscal muscle over big reforms to revive economy
▼ + stars: | 2023-10-24 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

☆ Union Pacific's quarterly profit drops 19% on lower volumes
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

Union Pacific livery on the side of a cargo locomotive is pictured ahead of a possible strike if there is no deal with the rail worker unions, at Union Station in Los Angeles, California, U.S., September 15, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsOct 19 (Reuters) - Union Pacific (UNP.N) reported a 19% fall in quarterly profit on Thursday, as higher labor costs and lower volumes outweighed the benefits from price hikes implemented by the railroad operator. The company's operating ratio, a key metric that indicates operating expenses as a percentage of revenue, rose to 63.4% in the third quarter from 59.9% reported a year ago. Union Pacific, which connects 23 states in the western two-thirds of the country by rail, also posted a 10% decline in quarterly operating revenue to $5.94 billion. Reporting by Ananta Agarwal and Amna Karimi in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Jim Vena, Ananta Agarwal, Amna, Shilpi Majumdar Organizations: Union Station, REUTERS, Union Pacific, Thomson Locations: Los Angeles , California, U.S, Bengaluru

REUTERS/Bing Guan/File Photo Acquire Licensing RightsWASHINGTON, Oct 19 (Reuters) - U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended. Refiners, which typically produce more distillates such as diesel and heating oil in autumn, are trying to rebuild inventories of these fuels that are near seasonal record lows. While fuel makers focus on maximizing distillate output, they inevitably produce gasoline as well. Meanwhile, Russia's short-lived diesel export ban, along with less refinery capacity and Western sanctions on Russian diesel, have hit diesel inventories and tightened supplies. Shortages have kept the U.S. heating oil crack at near $44 a barrel, nearly twice the seasonal average.

Persons: Bing Guan, fuelmakers, RIN, Laura Sanicola, Stephanie Kelly, David Gregorio Our Organizations: Phillips, Los, Los Angeles Refinery, Rights, Diesel, AAA, U.S ., U.S . Energy Information Administration, Thomson Locations: Los Angeles, Carson , California, U.S, Singapore, U.S . East

☆ Costco Picks Longtime Insider to Succeed Longtime CEO
▼ + stars: | 2023-10-18 | by ( Ben Glickman | ) www.wsj.com time to read: 1 min

The wholesale retailer said current CEO Craig Jelinek, who has served in the role since 2012, would step down. Photo: Bing Guan/Bloomberg NewsCostco Wholesale said longtime Chief Executive Craig Jelinek will step down after the holidays and hand over the role to his top deputy, who has also spent decades working at the warehouse retailing giant. Ron Vachris, 58, the company’s president and chief operating officer, will take over in January, becoming just the second person to hold the Costco CEO job since the company’s co-founders.

Persons: Craig Jelinek, Bing Guan, Ron Vachris Organizations: Bloomberg, Costco Wholesale, Costco

[1/3] Former U.S. President Donald Trump arrives at Trump Tower after giving a deposition to New York Attorney General Letitia James who sued him and his Trump Organization, in New York City, U.S., April 13, 2023. REUTERS/Bing Guan/File Photo Acquire Licensing RightsOct 17 (Reuters) - Donald Trump made a voluntary appearance at his New York civil fraud trial and used it to complain that it is distracting from his campaign to reclaim the White House in 2024. Trump appeared in a New York court on Tuesday for the third week of a civil fraud trial which is centered on allegations that he inflated his net worth to secure more favorable loan terms. Trump, however, chose to be at the trial which he is not required to attend. Trump has denied wrongdoing and defended the valuations of his properties, saying the case is a "fraud" and attacking both James and the judge overseeing the case.

Persons: Donald Trump, Letitia James, Bing Guan, Trump, Joe Biden, I'm, Arthur Engoron, Donna Kidder, Kidder, Doug Larson, James, James ’, Michael Cohen, Engoron, Donald Jr, Eric, Jack Queen, Noeleen Walder, David Gregorio, Alistair Bell Organizations: U.S, Trump, New York, Trump Organization, REUTERS, House, Republican, Biden, Democratic, Democratic New York, Thomson Locations: New, New York City, U.S, York, Washington, New York, Iowa, New Hampshire, Lago, Palm Beach , Florida, Manhattan

[1/3] Former U.S. President Donald Trump arrives at Trump Tower after giving a deposition to New York Attorney General Letitia James who sued him and his Trump Organization, in New York City, U.S., April 13, 2023. REUTERS/Bing Guan/File Photo Acquire Licensing RightsOct 17 (Reuters) - Donald Trump is set to appear in New York court on Tuesday for the third week of a civil fraud trial that could dismantle pillars of the former U.S. president’s business empire. The judge, Justice Arthur Engoron, found in September that Trump had engaged in fraud and ordered the dissolution of companies controlling crown jewels of his real estate portfolio, including Trump Tower in Manhattan. James is seeking at least $250 million in fines, a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization. Reporting by Jack Queen in New York; Editing by Noeleen Walder and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Letitia James, Bing Guan, Trump, Michael Cohen, Jack Weisselberg, Allen Weisselberg, James, Arthur Engoron, Donald Jr, Eric, Engoron, Jack Queen, Noeleen Walder, David Gregorio Our Organizations: U.S, Trump, New York, Trump Organization, REUTERS, Democratic New York, White, Thomson Locations: New, New York City, U.S, New York, Iowa, Manhattan

☆ Trump seeks appeal of partial gag order in 2020 federal election case
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

Former U.S. President Donald Trump attends a Manhattan courthouse trial in a civil fraud case in New York, U.S., October 17, 2023. REUTERS/Bing Guan Acquire Licensing RightsWASHINGTON, Oct 17 (Reuters) - Lawyers for Donald Trump on Tuesday filed a notice to appeal a partial gag order in the case accusing the former U.S. President of illegally attempting to overturn his defeat in the 2020 presidential election. U.S. District Judge Tanya Chutkan in Washington on Monday barred Trump from making public statements that "target" U.S. prosecutors, court staff and potential witnesses involved in the case. The judge found that Trump's public statements and social media posts may influence witnesses and lead to threats and harassment against lawyers and other "public servants." The gag order allows Trump to continue criticizing the U.S. Justice Department and denounce the prosecution as politically motivated.

Persons: Donald Trump, Bing Guan, Tanya Chutkan, Chutkan, Trump, Mike Pence, Jasper Ward, Andrew Goudsward, Eric Beech, Jonathan Oatis Organizations: U.S, REUTERS, Rights, Trump, Republican, U.S . Justice Department, Thomson Locations: Manhattan, New York, U.S, Washington

☆ Starboard dusts off old plan at News Corp
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

A view of the signage outside the News Corporation building in New York, U.S., September 21, 2023. REUTERS/Bing Guan Acquire Licensing RightsNEW YORK, Oct 16 (Reuters Breakingviews) - Maybe it takes a pile on to move the Murdoch family’s thinking. Reuters reported on Friday that Jeff Smith’s Starboard is the latest activist to try and unlock value at News Corp (NWSA.O), the publisher of the Wall Street Journal, owner of book conglomerate HarperCollins and Realtor.com. Starboard, which took a position in the $13 billion company, is pushing for a spinoff of the real estate assets, according to the Wall Street Journal. Last year Irenic Capital Management agitated for the same transaction in reaction to the Murdochs’ desire to reunite News Corp with broadcasting company Fox (FOXA.O).

Persons: Bing Guan, Murdoch, Jeff Smith’s, pushback, Jennifer Saba, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: News Corporation, REUTERS, Reuters, News Corp, Wall Street Journal, HarperCollins, Wall Street, Capital Management, Fox, X, Thomson Locations: New York, U.S, Europe

Russian President Vladimir Putin attends an interview with China Media Group anchor Wang Guan at the Kremlin in Moscow, Russia, in this image released October 16, 2023. Putin spoke to Iranian President Ebrahim Raisi and to Syrian President Bashar al-Assad by telephone, the Kremlin said. Russian Deputy Foreign Minister Sergei Ryabkov told Putin that the situation was escalatory, that Israeli army actions were "indiscriminate" and that the risk was that Israel would begin a ground operation against Gaza. Russian Foreign Minister Sergei Lavrov discussed the conflict between Israel and Hamas with Chinese Foreign Minister Wang Yi in Beijing ahead of a visit by President Vladimir Putin to China. "The United Nations Security Council must take action, and the major powers should play an active role," Wang told Lavrov, according to a Chinese transcript of the meeting.

Persons: Vladimir Putin, Wang Guan, Sergei Bobylev, Putin, Syria Putin, Ebrahim Raisi, Bashar al, Assad, Abdel Fattah al, Abbas, Benjamin Netanyahu, Sergei Ryabkov, Ryabkov, Russia's, Xi, Yuri Ushakov, Sergei Lavrov, Wang Yi, Wang, Lavrov, Guy Faulconbridge, Ed Osmond Organizations: China Media Group, Kremlin, Sputnik, MOSCOW, Gaza, UN Security Council, United Nations Security Council, West Bank, Russian, Chinese Foreign, United Nations Security, Reuters, Thomson Locations: Moscow, Russia, Iran, Syria, Egypt, Israel Russia, China, Israel, United States, Israeli, Russian, Washington, Ukraine, CHINA, RUSSIA, Gaza, East Jerusalem, Beijing

☆ Exclusive: Activist hedge fund Starboard eyes Rupert Murdoch's News Corp -sources
▼ + stars: | 2023-10-13 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

The fund's plans and the size of its stake in News Corp could not be learned. News Corp declined to comment and Starboard did not respond to a request for comment. Starboard, which has pushed for changes at companies ranging from Salesforce (CRM.N) to Darden Restaurants (DRI.N), would struggle to shake up News Corp without Murdoch's consent. Irenic did succeed in drumming up investor opposition to Murdoch's proposed merger with his other company Fox Corp (FOXA.O), forcing him to abandon the plan. Reporting by Svea Herbst-Bayliss in New York Editing by Greg Roumeliotis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Rupert Murdoch, Lachlan Murdoch, Bing Guan, Jeffrey Smith, Rupert Murdoch's, Smith, Murdoch, Dow Jones, Irenic, Murdoch's, Lachlan, Svea Herbst, Bayliss, Greg Roumeliotis, David Gregorio Our Organizations: News Corporation, News Corp, Fox, REUTERS, 13D, Investment, New York Times Co, Darden, Corp, Irenic Capital Management, Wall Street, Fox Corp, Reuters, Svea, Thomson Locations: New York, U.S

1 corn exporter to Brazil last year when the South American country harvested a breakthrough crop, just months after China gave the green light to Brazilian corn imports. The U.S. Department of Agriculture on Thursday maintained 2023-24 Brazilian corn production at 129 million metric tons, identical to the initial May projection. Conab predicts Brazil’s second corn harvest, which supplies the country's exports, could fall nearly 11% on the year to 91.2 million tons. China, like the United States, is winding down its 2023-24 corn harvest. On an October-September basis, USDA sees 2023-24 Brazilian corn exports at 59 million tons versus 53.7 million in 2022-23, and U.S. shipments are pegged at 52.5 million tons in 2023-24 versus 43 million in 2022-23.

Persons: Farmer Roger Hadley, John Deere, Bing Guan, Conab, Brazil Karen Braun, Karen Braun, Matthew Lewis Organizations: REUTERS, Rights, United, U.S . Department of Agriculture, El, USDA, U.S, USA, Brazil, Reuters, Thomson Locations: Woodburn , Indiana, U.S, Rights NAPERVILLE , Illinois, United States, Brazil, China, USDA, Northern, Southern, Mexico, Japan

☆ Surging rents lift US consumer prices; underlying inflation grinding lower
▼ + stars: | 2023-10-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The so-called core CPI was also lifted by a 3.7% rise in the cost of lodging away from home, which ended three straight monthly declines. The core CPI gained 4.1% on a year-on-year basis in September, the smallest rise since September 2021, after advancing 4.3% in August. Over the last three months, the core CPI increased 3.1%. Still-strong demand in the economy, marked by labor market tightness, which is driving core services inflation excluding rents, imply that the higher rates could last for some time. Reuters GraphicsThere is no sign yet that the United Auto Workers (UAW)strike, now in its fourth week, is having a major impact on the labor market.

Persons: Olu Sonola, Stephen Juneau, Bing Guan, Seema Shah, Lucia Mutikani, Paul Simao Organizations: Federal Reserve, Labor Department, Higher U.S, Treasury, Fitch, CPI, Reuters, Bank of America Securities, Mobil, REUTERS, Fed, Financial, United Auto Workers, UAW, Ford, General Motors, Chrysler, Asset Management, Thomson Locations: WASHINGTON, U.S, New York, Beverly Boulevard, West Hollywood , California

☆ US consumer prices rise on surge in rents; underlying inflation cools
▼ + stars: | 2023-10-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Gasoline prices rose 2.1% after accelerating 10.6% in August. Year-on-year consumer prices have come down from a peak of 9.1% in June 2022. Reuters GraphicsExcluding the volatile food and energy components, the CPI rose 0.3%, matching August's gain. Still-strong demand in the economy, marked by labor market resilience, suggests borrowing costs could remain elevated for some time. Reuters GraphicsThere is no sign yet that the United Auto Workers (UAW)strike, now in its fourth week, is having a major impact on the labor market.

Persons: Bing Guan, Olu Sonola, Seema Shah, Lucia Mutikani, Paul Simao Organizations: Mobil, REUTERS, Federal Reserve, Labor Department, Higher U.S, Treasury, Fitch, CPI, Reuters, United Auto Workers, UAW, Ford, General Motors, Chrysler, Asset Management, Thomson Locations: Beverly Boulevard, West Hollywood , California, U.S, WASHINGTON, New York

A general view of GE Renewable Energy wind turbines, part of Pattern Energy’s Western Spirit Wind project, the largest wind project in the U.S., near Encino, New Mexico, U.S., March 15, 2023. Renewable energy funds globally suffered a net outflow of $1.4 billion in the July-September quarter, the biggest ever quarterly outflow, according to LSEG Lipper data. Reuters GraphicsInvestors have been exiting traditional energy funds, too, but the rate has slowed - net outflows reached $438 million in the last quarter compared with $3.32 billion in the previous three months. Reuters GraphicsDemand for exposure to renewable energy had been a major driver of cash flowing into climate-related funds in recent years. Wind projects off Britain, the Netherlands and Norway have been delayed or shelved due to rising costs and supply chain constraints, raising concerns about countries hitting their 2030 renewable energy targets.

Persons: Bing Guan, Denmark's, Madeline Ruid, Ruid, Morningstar, they're, Rich Pontillo, Patturaja, Tommy Reggiori Wilkes, Simon Jessop, Tomasz Janowski Organizations: GE Renewable Energy, REUTERS, Investors, Reuters Graphics, Companies, U.S . Infrastructure, Clean Energy Exchange, Energy, Reuters, Nasdaq, Intelligence, Thomson Locations: U.S, Encino , New Mexico, BENGALURU, LONDON, Britain, Netherlands, Norway, Bengaluru, London

The drop in gasoline prices could benefit consumers and cool inflation. Before this week's drop, gasoline prices had posted a 7.4% jump in the third quarter, riding increases in crude oil futures after production cuts from Saudi Arabia, Russia and other OPEC+ members. U.S. wholesale gasoline prices are tumbling, with percentage drops per gallon on Wednesday between 6.9% and 10.8%. A flurry of weak economic data took more wind out of the market. Crude futures settled an eye-popping $5 a barrel lower on Wednesday, and fell another $1.66 on Thursday.

Persons: Bing Guan, JP Morgan, Tom Kloza, Kloza, Laura Sanicola, David Gregorio Our Organizations: Mobil, REUTERS, U.S . Energy, Administration, U.S ., Midwest, Oil Price Information Service, ADP, Oil, Thomson Locations: Beverly Boulevard, West Hollywood , California, U.S, Saudi Arabia, Russia, U.S . East Coast, East

Renewed manufacturing growth will boost industrial energy consumption, especially for diesel, but with inventories still low, prices are set to escalate rapidly, rekindling concerns about inflation. SOFT LANDING? The mid-cycle slowdown or “soft landing” of 1989/90 and the cycle-ending “hard landing” of 1990/91 are usually considered as one episode. Blinder has argued the Federal Reserve would have achieved a soft landing if oil prices had not spiked for unrelated reasons. Related columns:- Global diesel shortage boosts prices (September 13, 2023)- Prolonged U.S. manufacturing slowdown barely dents energy use (September 5, 2023)- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)- U.S. manufacturing slowdown fails to rebuild diesel stocks (August 2, 2023)John Kemp is a Reuters market analyst.

Persons: Bing Guan, Alan Blinder, Blinder, Saddam Hussein’s, ”, Saddam Hussein, Alan Greenspan, John Kemp, Alexander Smith Organizations: Angeles Refinery, California Air Resources Board, Institute, Supply, Federal Reserve, Reserve, Global, U.S, Thomson, Reuters Locations: Angeles, California, Carson , California, U.S, Kuwait, Blinder, United States, Europe, China

Cars for sale are parked at used car dealerships in Singapore October 17, 2022. Including COE, registration fees and taxes, a new standard Toyota Camry Hybrid currently costs S$251,388 ($183,000) in Singapore, compared with $28,855 in the U.S. A small, government-subsidised flat in Singapore costs about S$125,000. Now Guan lives without a car, focusing on other perks that Singapore offers for his family. "As a family man, it doesn’t affect me much as Singapore still has a good and stable education system. ($1 = 1.3725 Singapore dollars)Reporting by Xinghui Kok; Editing by Miyoung Kim and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, COEs, Tan Ern Ser, Tan, Jason Guan, Guan, Xinghui Kok, Miyoung Kim, Gerry Doyle Organizations: REUTERS, Rights, Toyota Camry, Toyota Rush, COE, Singapore, Thomson Locations: Singapore, Rights SINGAPORE, U.S

[1/2] A worker clears debris so delivery vehicles can exit a FedEx Ground distribution center in this aerial photograph taken over Carson, California, U.S., September 16, 2022. "They have to fight for every package right now, it's great for shippers," said LJM Consultants partner Kenneth Moyer, a former UPS pricing negotiator who now works with delivery customers. The world's biggest parcel delivery firm added it is using price negotiations to encourage attractive high-margin or high-volume customers, while discouraging high-cost deliveries. Third quarter ground delivery rates are forecast to fall 0.55% per package versus a the year earlier period, according to the TD Cowen/AFS Ground Pacrel Freight Index. But experts are skeptical, particularly as UPS offers to cover early termination fees for customers that switched to FedEx.

Persons: Bing Guan, That's, Kenneth Moyer, Deyman Doolittle, Wall, Moyer, Mark Taylor, Taylor, Satish Jindel, ShipMatrix, Micheal McDonagh, Yokeley, Lisa Baertlein, Ben Klayman, Aurora Ellis Organizations: FedEx, REUTERS, United Parcel Service, UPS, U.S . Postal Service, LJM, Cowen, Reuters Graphics Reuters, Teamster, Department, USPS, Amazon, AFS Logistics, International Brotherhood of Teamsters, Teamsters, Thomson Locations: Carson , California, U.S, Macy's, Los Angeles

☆ US inflation outlook brightens as underlying price pressures subside
▼ + stars: | 2023-09-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, edged up 0.1% last month. Economists polled by Reuters had forecast the core PCE price index would climb 0.2%. In the 12 months through August, the so-called core PCE price index increased 3.9%. It was the first time since June 2021 that the annual core PCE price index was below 4.0%. In the 12 months through August, the PCE price index advanced 3.5% after gaining 3.4% in July.

Persons: Conrad DeQuadros, Bing Guan, David Russell, Scott Anderson, Lucia Mutikani, Paul Simao Organizations: Federal Reserve, Commerce Department, Brean, Reuters, University of Michigan, Consumers, REUTERS, Treasury, Financial, BMO Capital Markets, Retailers, Thomson Locations: WASHINGTON, U.S, New York, SoHo, New York City, San Francisco

☆ Underlying US inflation pressures subside in August
▼ + stars: | 2023-09-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Economists polled by Reuters had forecast the core PCE price index would climb 0.2%. In the 12 months through August, the so-called core PCE price index increased 3.9%. It was the first time since June 2021 that the annual core PCE price index was below 4.0%. In the 12 months through August, the PCE price index advanced 3.5% after gaining 3.4% in July. Policymakers are focused on the super core price measure as they try to gauge progress in their fight against inflation.

Persons: Bing Guan, Rubeela Farooqi, Lucia Mutikani, Paul Simao Organizations: REUTERS, Federal Reserve, Commerce Department, Reuters, U.S . Energy Information Administration, Treasury, Fed, Financial, Thomson Locations: SoHo, New York City, U.S, WASHINGTON, White Plains , New York

☆ Morning Bid: Oil spike delivers coup de grace to dire Q3
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +5 min

A nighttime view of the Torrance Refinery, an oil refinery operated by PBF Energy, in Torrance, California, U.S., March 10, 2022. The U.S. Treasury completes more than $130 billion of new debt sales this week with another 7-year note auction later on Thursday. But even though the euro bounced back from 2023 lows today, there was better news on the inflation front from Europe. As China's markets headed for the Golden Week holidays next week, stocks there were in the red too - with Hong Kong's Hang Seng (.HSI) hitting its lowest for the year so far. * U.S. Treasury auctions 7-year notes, 4-week bills* U.S. corporate earnings: Nike, Accenture, CarmaxReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsEditing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Mike Dolan, Jerome Powell, it's, Lisa Cook, Austan Goolsbee, Thomas Barkin, Emelia Sithole Organizations: Torrance Refinery, PBF Energy, REUTERS, Federal, U.S, Treasury, U.S . Treasury, Micron Technology, Nvidia, Kansas, Fed, Chicago Fed, Richmond Fed, Nike, Accenture, Carmax Reuters Graphics Reuters, Reuters, Thomson Locations: Torrance, Torrance , California, U.S, Washington, United States, Europe

☆ Blinken interviewed in federal probe of Biden's handling of classified documents -ABC News
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: 1 min

U.S. Secretary of State Antony Blinken looks on, as he addresses members of the press on the sidelines of the 78th United Nations General Assembly at the Lotte Palace Hotel in New York City, U.S., September 22, 2023. REUTERS/Bing Guan/File Photo Acquire Licensing Rights

Persons: Antony Blinken, Bing Guan Organizations: 78th United Nations General Assembly, Lotte, REUTERS Locations: New York City, U.S

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