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☆ Singapore policy review shift is sign of times
▼ + stars: | 2023-10-13 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. The city-state’s central bank unexpectedly announced on Friday that it would shift to quarterly meetings to assess monetary settings from 2024, switching from biannual reviews. Even though it took local economists by surprise, Singapore’s decision to introduce more frequent monetary policy reviews looked inevitable. Singapore’s unique monetary policy arrangements, and its trade-based economy, made it increasingly hard to use a too-rigid setup. The announcement came after the MAS kept its monetary policy settings unchanged, as expected, and pointed to both upside and downside risks to inflation.

Persons: Edgar Su, Chia Der, it’s, Chia, Lisa Jucca, Thomas Shum Organizations: Monetary Authority of Singapore, Rights, Reuters, Monetary Authority of, Swiss National Bank, People’s Bank of, Singapore, MAS, Ministry of Trade, Industry, Thomson Locations: Singapore, Rights SINGAPORE, Monetary Authority of Singapore, People’s Bank of China, China, United States, Ukraine, Israel

☆ McCarthy says he would return as House speaker: 'Whatever the conference wants, I will do'
▼ + stars: | 2023-10-09 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol on border security, government funding, and other issues, on Friday, September 29, 2023. WASHINGTON — Kevin McCarthy, R-Calif., said he was open to becoming speaker of the House again, less than a week after he was ousted from the role. McCarthy changed his tune on Monday in an interview with conservative radio talk show host Hugh Hewitt, saying, "Whatever the conference wants, I will do." Rep. Mike Lawler, R-NY, a supporter of McCarthy, said there is support in the caucus for McCarthy to lead again. And I believe a good portion of the conference believes Kevin McCarthy should continue to be speaker," Lawler said.

Persons: Kevin McCarthy, WASHINGTON — Kevin McCarthy, McCarthy, Hugh Hewitt, Hewitt, Steve Scalise, Jim Jordan, Mike Lawler, Lawler Organizations: U.S, Capitol, Republicans, Republican, Rep Locations: Ohio, Israel

(AP) — Jaxson Dart threw for four touchdowns, including a 13-yard, game-winner to Tre Harris with 39 seconds remaining as No. Daniels was 15 for 19 passing for 234 yards and three touchdowns, added 67 rushing yards and a QB rating of 234.5. 20 Rebels, the fourth highest ranked SEC team in the poll, are poised to move up, but no SEC team has moved up more than five slots in any single week. 13 LSU is certain to drop, but will the Tigers become this season’s first two-loss team to remain in the Top 25? 20 Rebels host Arkansas to complete a two-game home stand on Saturday.

Persons: Jaxson Dart, Tre Harris, Ole Miss, Jayden Daniels, Chris Hilton Jr, Dart, Brian Thomas Jr, Daniels, Harris, Ole, Lane Kiffin’s, Thomas, Logan Diggs Organizations: OXFORD, Miss, LSU, Rebels, Tigers, The Rebels, Alabama, Ole Miss, SEC, AP Locations: Mississippi, Missouri, Arkansas

☆ CNBC Daily Open: Thinking about tech
▼ + stars: | 2023-09-27 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Alibaba unit IPO Alibaba plans to list its logistics unit Cainiao in Hong Kong, the Chinese e-commerce giant said in a regulatory filing on Tuesday. It's the first to announce listing plans among the six business units as a result of one of the most radical shake-ups in Alibaba's history . The company split its structure into six business units, and hopes most of them will be able to raise outside funds and go public.

Persons: Rene Haas, It's, Dimon, — Dimon, it's, Jerome Powell, Jamie Dimon, Neel Kashkari, Herman Narula, Narula, Alibaba Organizations: Arm, Nasdaq, CNBC, TV18, Dow Jones, Dow, Financial, Treasury, Federal, JPMorgan Chase, Minneapolis Federal, Tech Locations: New York City, Hong Kong, Ukraine, America, China, India, U.S, Minneapolis

☆ Poland's arms spat with Ukraine has angered many in Europe, and it's only good news for Putin
▼ + stars: | 2023-09-23 | by ( Luke Mcgee | ) edition.cnn.com time to read: +7 min

A senior EU diplomat told CNN: “Ukraine already offered Poland a solution on grain. The country is currently trying to join both the EU and NATO, for which it has unanimous support. Most EU member states accept that in order to accommodate Ukraine, there will need to be substantial reform to how the EU operates. The final reason that officials across Europe are furious about this week’s events is that it hands Russian President Vladimir Putin a propaganda coup. Kremlin spokesperson Dmitry Peskov, when asked about the spat, used it to say “there are certain tensions between Warsaw and Kyiv.

Persons: Volodymyr Zelensky, Russia’s, Zelensky, Mateusz Morawiecki, Andrzej Duda, Angela Weiss, Wojtek Jargilo, ”, –, Poland –, Vladimir Putin, Dmitry Peskov Organizations: CNN, Ukraine, European Union, EU, Justice, UN, Getty, NATO, “, EU Commission, Kremlin Locations: Poland, Warsaw, Kyiv, Ukraine, Hungary, Slovakia, Europe, Polish, ” Poland, New York City, ”, Russia, EU, “ Ukraine, “, Brussels

☆ More Chinese cities lift home-buying curbs to revive demand
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 11 (Reuters) - Two major cities in eastern China lifted all curbs on home purchases and selling on Monday, joining several other cities in dropping restrictions to attract buyers and revive a largely frozen property market. Qingdao previously limited the number of homes that could be purchased in two districts. Last week, three cities - Nanjing in eastern Jiangsu province and Dalian and Shenyang in northeastern Liaoning province - became the first group of big cities to eliminate curbs on home buying. Smaller Chinese cities, whose property markets tend to have a larger share of their local economies, have already begun dismantling curbs. Jiaxing city, a relatively small city in the eastern province of Zhejiang, announced it would lift all curbs in the city in late August, according to a local media report.

Persons: Thomas Peter, Albee Zhang, Ryan Woo, Neil Fullick, Emelia Organizations: REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, Jinan, Qingdao, China's, Shandong, Nanjing, Jiangsu, Dalian, Shenyang, Liaoning, Jiaxing, Zhejiang

Colombian-born Kugler, whose research has focused on labor markets, is the first Latina to join the Fed Board in its 109-year history. The vote was 53-45, with a few Republicans supporting a nomination that was championed by Democratic Senator Bob Menendez. The Senate on Wednesday also confirmed Fed Governor Philip Jefferson as Fed vice chair and Fed Governor Lisa Cook to a second term. Jefferson's success as vice chair will hinge on his ability to help Powell manage that process. Reporting by Ann Saphir; Editing by Paul Simao and Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Adriana Kugler, Jonathan Ernst, Kugler, Bob Menendez, Menendez, Philip Jefferson, Lisa Cook, Cook, Jerome Powell, Powell, Michael Feroli, Jefferson, she'll, Derek Tang, Tang, Ann Saphir, Paul Simao, Timothy Gardner Organizations: Federal Reserve, of Governors, Capitol, REUTERS, U.S, Senate, Bank, Fed Board, Democratic, Wednesday, Jefferson, JPMorgan, Fed, Thomson Locations: Washington , U.S, Cuban, United States, U.S

☆ Apple lost over $200 billion in market value in two days. Here's where Jim Cramer stands on the stock
▼ + stars: | 2023-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong

☆ Possible Fed overtightening makes recession more likely than not, Deutsche Bank says
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, Sept 6 (Reuters) - Despite recent optimism around the U.S. economy, a recession remains a more likely scenario than a so-called "soft landing" as the Federal Reserve seeks to curb inflation by tightening monetary conditions, Deutsche Bank said on Wednesday. "Given that inflation peaked significantly above target, the Fed should err on the side of tightening too much, rather than too little," Deutsche Bank analysts said in a note. "A US recession remains more likely than not." In contrast to Deutsche Bank's forecasts, several banks have in recent months revised or pushed out their earlier recession calls. Goldman Sachs analysts on Monday said they had further reduced their 12-month U.S. recession probability to 15% from a previous 20% estimate.

Persons: Goldman Sachs, Davide Barbuscia, Paul Simao Organizations: Federal, Deutsche Bank, Deutsche, Thomson Locations: U.S

The Senate returns Tuesday from a month-long recess as Congress gears up for a rocky September with a whole host of to-dos – including averting a government shutdown – before the fiscal year’s end. Accordingly, congressional leaders have made clear that a stop-gap measure to keep the government funded will be necessary. But even without the demands on the CR, reconciling the House and Senate's spending bills more broadly is expected to be a heavy lift this month, and perhaps beyond. Even so, some Senate Republicans were quick to come to McConnell’s defense. But questions about the leader’s health are expected to run in the background this week as the Senate gets to work on a number of priorities.

Persons: Kevin McCarthy, McCarthy, Chuck Schumer, Mitch McConnell, ”, Sen, Susan Collins of, McConnell “, Mike Rounds, McConnell, Joe Biden, Biden, Marjorie Taylor Greene Organizations: Caucus, Republicans, New York Democrat, Kentucky Republican, South Dakota, CNN, Senate, Georgia Republican, House Locations: Kentucky, Susan Collins of Maine, Washington, Georgia

☆ Wozniacki wins battle of comeback queens to reach U.S. Open fourth round
▼ + stars: | 2023-09-01 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

However it was Wozniacki, twice a U.S. Open finalist, who showed more fitness and a little less competitive rust, winning 11 of 12 games after dropping the opening set. "I guess I always had the belief in myself," said Wozniacki. Would I have been surprised had I lost in the first round? "I can't really compare her level before or after coming back from retirement," said Brady after facing Wozniacki for the first time. Reporting by Steve Keating in New York; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Denmark's Caroline Wozniacki, Jennifer Brady, Mike Segar, Caroline Wozniacki, Wozniacki, Brady, Arthur Ashe, Dane, Coco Gauff, Elise Mertens, she's, Steve Keating, Ken Ferris Organizations: Tennis, U.S, REUTERS, Thomson Locations: Flushing Meadows , New York, United States, Flushing Meadows, Brady, American, New York

☆ A Los Angeles Home That Channels the Magic of ‘Fantasia’
▼ + stars: | 2023-08-18 | by ( Max Berlinger | ) www.nytimes.com time to read: +1 min

By her own admission, the actor Anastasia Graff is a maximalist who loves “girlie things,” so it’s not altogether surprising that she wanted a periwinkle kitchen for her 1930s-era West Hollywood home. Still, such a bold choice could send some interior designers into a tailspin. Clad in white-painted wood siding with a wide porch, it had appealed to Graff because it reminded her of the traditional wooden homes on the East Coast, where she grew up. But it didn’t hurt that the place is part of local lore: It once belonged to the Russian-born composer and conductor Igor Stravinsky, who lived in Los Angeles from 1940 to 1969, while he conducted the L.A. Philharmonic both downtown and at the Hollywood Bowl. “You realize in Los Angeles, there’s a story behind every house,” says Graff.

Persons: Anastasia Graff, “, ”, Frances Merrill, Graff, ” Merrill, Igor Stravinsky, Merrill, gravitas, there’s, Marilyn Monroe’s Organizations: Hollywood Locations: East Coast, Russian, Los Angeles

☆ Here's what is behind the stock market's selloff and what we're doing about it
▼ + stars: | 2023-08-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Eli Lilly surges Club name Eli Lilly (LLY) skyrocketed more than 16% on hopes for Mounjaro's use to prevent major cardiovascular events. As for strong earnings, which also helped the stock, Eli Lilly had a great quarter and raised full-year guidance. Since Friday's 8% loss on a competitor's misfortunate, PANW shares have been down Monday and now Tuesday as well. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Eli Lilly, Moody's, Dow, Morgan Stanley, selloff, Mounjaro, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Energy, Novo Nordisk, Palo, Alto Networks, JPMorgan Locations: Stocks, Wells Fargo, Novo, .

☆ A financially independent property investor who has experimented with rentals of all lengths explains why midterm leases are the 'sweet spot' in real-estate investing. She says they offer 3 key advant
▼ + stars: | 2023-08-03 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

When Covid hit, she started doing mid-term rentals and now prefers them over short- and long-term stays. "I was getting burnt out on short-term rentals," said McIntyre, who had also started investing in St. Louis, Missouri. That's why she calls mid-term rentals the "sweet spot" in real-estate investing, since they're still easier to manage than short-term rentals and produce better cash flow than long-term rentals. "Often, when people are investing in long-term rentals, they're okay with $100 to $200 a month in profit per unit," she said. The bookkeeping is easierA mid-term rental is much simpler to run than a short-term rental on various levels.

Persons: Zeona McIntyre, Covid, McIntyre, they're, didn't, Airbnb, she'd, They're Locations: Boulder , Colorado, Florida, St, Louis , Missouri, Honolulu, Aspen , Colorado

☆ A financially independent property investor who has experimented with rentals of all lengths explains why midterm leases are the 'sweet spot' in real-estate investing.
▼ + stars: | 2023-08-03 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Persons: Zeona McIntyre, Covid, McIntyre, they're, didn't, Airbnb, she'd, They're Locations: Boulder , Colorado, Florida, St, Louis , Missouri, Honolulu, Aspen , Colorado

☆ Apple Revenue Drops 1%, but Profit Rises to $19.88 Billion
▼ + stars: | 2023-08-03 | by ( Tripp Mickle | More About Tripp Mickle | ) www.nytimes.com time to read: +1 min

The world’s most valuable tech company, which relies on the iPhone for half its sales, reported on Thursday that revenue fell 1 percent, to $81.8 billion, during the three months that ended in June. Profit increased 2 percent, to $19.88 billion. Apple’s financial results were the latest indication that tech’s biggest companies have found their footing after last year’s downturn. Last week, Facebook’s parent company, Meta, and Google’s parent company, Alphabet, reported double-digit growth in profits driven by a rebound in digital ad sales. Microsoft posted a record quarterly profit behind a surge in cloud-computing sales, and Amazon on Thursday posted nearly twice the profit expected by Wall Street.

Organizations: Apple, Meta, Microsoft, Wall

☆ Dollar gains after Fed loan survey, yen slips
▼ + stars: | 2023-07-31 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The dollar index , a measure of the greenback against six major currencies, rose 0.28% after trading little changed earlier in the session. The euro retreated from early gains after data showed economic growth in Europe nudged higher and inflation ticked lower. The dollar advanced 0.78% against the yen at 142.250 after a fresh intervention by the BoJ on Monday. The dollar posted its first monthly loss against the yen since March, and its second successive monthly loss against the euro and pound. The euro earlier rose after data showed euro zone inflation fell further in July, while the bloc returned to growth in the second quarter of 2023 with a greater-than-expected expansion.

Persons: Marc Chandler, Chandler, Jackson, Joe Manimbo, Sterling, BoE, Herbert Lash, Alun John, Rae Wee, Himani Sarkar, Kim Coghill, Christina Fincher, Mark Heinrich, Deepa Babington Organizations: YORK, Federal Reserve, Survey, Bannockburn Global, Index, Bank of Japan, China's State, Federal, Market, Central Bank, Rabobank, ECB, Bank of England's, Thomson Locations: Bannockburn, New York, U.S, Jackson Hole , Wyoming, Washington, Europe, Asia, China, London, Singapore

☆ Yen eyes first monthly gain since March, dollar headed for monthly loss
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The U.S. dollar was conversely headed for a monthly loss on the prospect that the Federal Reserve's aggressive rate-hike cycle, a key driver of the dollar's strength, could have concluded with last week's 25-basis-point increase. Elsewhere, the dollar edged broadly lower in early Asia trade, with the dollar index steadying at 101.62. It was headed for a monthly decline of roughly 1.2%, extending its loss to a second month.

Persons: they've, Chris Weston, Carol Kong, Sterling, CBA's Organizations: U.S, Bank of Japan, Federal, Market Committee, Commonwealth Bank of Australia, Central Bank, Bank of, Australian, New Zealand Locations: Tokyo, Japan, Asia, U.S

☆ Yen eyes first monthly gain since March; dollar headed for monthly loss
▼ + stars: | 2023-07-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen was about 0.3% lower at 141.57 per dollar, but was headed to end July with a roughly 2% gain, its first monthly rise since March. The dollar eventually ended the Friday session with a 1.2% gain against the Japanese currency, though that was after it had slid 1% to a session-low of 138.05 yen. DOLLAR EYES MONTHLY LOSSThe U.S. dollar was headed for a monthly loss on the prospect that the Federal Reserve's aggressive rate-hike cycle - a key driver of the dollar's strength - could have concluded with last week's 25-basis-point increase. The dollar index was last 0.11% higher at 101.72, but was eyeing a monthly decline of more than 1%, extending its loss to a second month. The euro rose 0.02% to $1.1017 and was eyeing a monthly gain of about 1%, though last week's European Central Bank policy meeting similarly raised the possibility of a rate pause in September.

Persons: they've, Chris Weston, Carol Kong, Sterling, Rae Wee, Himani Sarkar Organizations: Bank of Japan, U.S, Federal, Market, Commonwealth Bank of Australia, Central Bank, Bank of, Thomson Locations: SINGAPORE, Asia, U.S

☆ Brian Harman powers to 2023 Open Championship victory, clinching first career major
▼ + stars: | 2023-07-23 | by ( Jack Bantock | ) edition.cnn.com time to read: +19 min

CNN —Brian Harman won the 151st Open Championship on Sunday, sealing the first major of his career in dominant fashion. When Faldo birdied at the subsequent hole, Hoch's hopes of a first major win similarly went up in the air. David Cannon/Getty Images Europe/Getty Images Lorena Ochoa, US Women's Open (2005) Ochoa secured a top-four finish at the 2005 US Women's Open. Not when you led at the final hole. A par at the final hole would have been enough to put the American into the playoff, but an agonizing missed putt [pictured] epitomized her painful afternoon in San Francisco.

Persons: Brian Harman, Australia’s Jason Day, Austria’s Sepp Straka, Tom Kim, Jon Rahm, Harman, “ I’m, ” Harman, Osullivan, Brooks Koepka, Wyndham Clark, Rahm, Kim, Rory’s, Argentina’s Emiliano Grillo, ” McIlroy, “, ”, Luke Walker, Greg Norman, France’s Jean van de Velde, –, McIlroy, Andrew Redington, Sam Snead, Snead, Lew Worsham, Louis, Arnold Palmer, Palmer, Billy Casper, Casper, Ed Sneed, Sneed, Fuzzy Zoeller, Tom Watson, Watson, Scott Hoch, Hoch, Nick Faldo, skyward, Faldo birdied, Hoch's, Mark Calcavecchia, Calcavecchia, Colin Montgomerie, Germany's Bernhard Langer, Norman, Faldo, David Cannon, Jean Van De Velde, Van De, Van De Velde, Frenchman, Barry Burn, Paul Lawrie, Lorena Ochoa, Ochoa, Birdie Kim, Harry, Phil Mickelson, Mickelson, Lefty, Geoff Ogilvy, Ezra Shaw, Stewart Cink, Warren Little, Dustin Johnson, Johnson, Graeme McDowell, Donald Miralle, Jason Dufner, Dufner, Keegan Bradley, Bradley, Adam Scott, Ernie Els, Scott, Jordan, Buddy, Jordan Spieth, Danny Willett, Spieth, Jim Watson, Lexi Thompson, Yuka Saso, Thompson, Sean M, Mito Pereira, Pereira, Justin Thomas, Will Zalatoris, Christian Petersen, Van de Velde, Stuart Franklin, Ghostbuster Harman, Tommy Fleetwood, Read, Brian Harman shrugs, unflappable Organizations: CNN, 151st, PGA, Reuters, Northern, Royal Liverpool, PGA Championship, North, Louis Post, Bettmann, Augusta, Augusta National, Getty, Ryder, American, Scottish, Team Europe, . Augusta National, Barry Burn . Pictures, South Korean, Chevron, Royal Lytham, Nasa, Mito, Southern Hills Country Club, eventual Locations: Royal Liverpool, South, Georgia, Carnoustie, Augusta, North America, San Francisco, Kiawah, Europe, Jean Van De Velde , British, Scotland, Mexican, British, Turnberry, Atlanta, American, New York, St, Annes, squander, Tulsa, Liverpool, Harman’s

☆ Junior bankers are 'freaking out' and ditching summer training sessions amid rumblings that private equity recruiting is kicking off ridiculously early
▼ + stars: | 2023-07-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

Panic is setting in at investment banks across Wall Street as junior bankers are thrust into the whirlwind of private equity recruiting. Private equity recruiting is an annual Wall Street ritual, albeit an unwelcome one for some investment banks. Coffee chats vs on-cycleWhich private equity firms are recruiting and when is somewhat murky — for good reason. Private equity firms have also begun hosting events, including an invite-only networking social with KKR Thursday night and online information sessions hosted by Hellman & Friedman Wednesday. "I know it's crazy, but it's in your best interest to decide upfront whether you want to pursue private equity," he said.

Persons: I'm, Evercore, Asif Rahman, Friedman, Apax, Hellman, that's, Matt Ting, It's, Ting, they'll, Reed Alexander Organizations: Oasis, Henkel, Advisors, KKR, Hellman, Industry, headhunters, Permira Locations: Wall, New York

☆ Remote work has made downtown DC a ghost town as federal office buildings sit mostly empty
▼ + stars: | 2023-07-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

But unlike many other US cities, much of DC's downtown office space is controlled by a single landlord: the federal government. There are three major issues when it comes to empty federal building space, Marroni said. Many congressional Republicans have also demanded that the Biden administration both restrict telework and get rid of unused office space. The White House Office of Management and Budget asked federal agencies in April to "substantially increase meaningful in-person work" by limiting telework. But there are concerns — including from employee unions — that restricting remote work could hurt the recruitment and retention of federal workers.

Persons: Muriel Bowser, hasn't, —, David Marroni, Marroni, She's, Biden, Scott Perry, they've Organizations: Office, DC, Service, Republicans, Transportation, Infrastructure, GAO, Pennsylvania Republican, White, Office of Management, Department of Education, Department of Veterans Affairs, Post, Trump International Locations: Wall, Silicon, Washington, DC's, Pennsylvania

☆ Bank of Canada seen hiking rates quarter point to tame stubborn inflation
▼ + stars: | 2023-07-10 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

In June, the central bank raised its overnight rate to a 22-year high of 4.75% after a five-month pause, saying monetary policy was not restrictive enough. Data in the past month showed some signs of a slowdown - inflation cooling to 3.4%, a tepid May jobs report and a surprise trade deficit in May. "We expect the BoC to take the policy rate 25 basis points higher to 5%." Twenty of 24 economists surveyed by Reuters expect the bank to lift rates by another quarter-point and then hold well into 2024. Reporting by Steve Scherer, additional reporting by Fergal Smith; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Jay Zhao, Murray, Andrew Grantham, Steve Scherer, Fergal Smith, David Gregorio Our Organizations: OTTAWA, Bank of Canada, BoC, Monex, Reuters, CIBC Capital Markets, Thomson Locations: Canada

"There's no real consensus at the moment about the increase in interest rates among economic actors," Jeremie Delecourt, chief operating officer at French private equity fund Ardian, told Reuters. In the euro zone, the peak is near after a combined 4 percentage points rise in the past year, ECB policymaker and French central bank governor Francois Villeroy de Galhau said on a panel at the conference. But he also said that rates would be left high for as long as necessary to ensure that inflation is headed back to the European Central Bank's 2% target by 2025. The ECB raised interest rates to their highest level in 22 years last month and promised another hike this month, with possibly another in September. "I see quite a bit of optimism in the short term, but I see a lot of downside risks if there is a policy mistake, especially from the central banks," she added.

Persons: Jeremie Delecourt, Francois Villeroy de Galhau, Jean, Louis Girodolle, Lazard, Mario Draghi's, Somersan Coqui, Daniel Barneix, Barneix, Veronika Grimm, Leigh Thomas, Alexander Smith Organizations: Reuters, ECB policymaker, Central, ECB, Atlantic, Allianz Trade, Thomson Locations: PROVENCE, France, United States, Europe, Aix, Provence

The latest drubbing in the world's biggest bond markets, which last year suffered a record rout, does not yet point to any dysfunction in the markets themselves, investors said. But in echoes of the volatile conditions seen during March's banking crisis, trading in euro zone benchmark German government bond futures were briefly interrupted on Thursday when bond yields spiked. U.S. and British 10-year yields were also set to end the week more than 20 bps higher , . ING said earlier on Friday that this week's data was strong enough to push yields higher even if jobs numbers interrupt the moves. "It won't be as bad as that, but higher rates and higher yields could lead to negative returns and pressure returns on equity markets."

Persons: Mike Riddell, Jan von Gerich, Mark Dowding, Gael Fichan, Fichan, BlueBay's Dowding, Yoruk Bahceli, Samuel Indyk, Harry Robertson, Hugh Lawson Organizations: U.S, Federal, Allianz Global Investors, Fed, of, European Central Bank, BlueBay Asset Management, Syz, ING, Global, Thomson Locations: Europe, United States, Australia, British, Germany, Britain, U.S, of England

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