DIRS.INFO The most relevant business & tech news

☆ World Bank to increase exposure to Turkey to $35 bln within three years - Anadolu
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

The World Bank logo is seen at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. REUTERS/Elizabeth Frantz/File photo Acquire Licensing RightsANKARA, Sept 7 (Reuters) - The World Bank plans to increase its exposure to Turkey to $35 billion within three years, the bank's Turkey country director was quoted as saying by Turkish state-owned news agency Anadolu on Thursday. Humberto Lopez told Anadolu the World Bank planned to add $18 billion worth of new operations to its existing %17 billion exposure in the country, adding this figure included providing direct credits to the government supporting the private sector. Lopez said the $35 billion package was in response to the "strong commitment" by Ankara to re-establish macroeconomic stability and to support steps in that direction, according to Anadolu. Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu; Editing by Daren ButlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Frantz, Humberto Lopez, Lopez, Nevzat Devranoglu, Daren Butler Organizations: World Bank Group, International Monetary Fund, REUTERS, Rights, Bank, Anadolu, World Bank, Thomson Locations: Washington , U.S, Rights ANKARA, Turkey, Turkish, Ankara, Anadolu

☆ Once Inoculated by Its Nazi Past, Germany Harbors Growing Far-Right Currents
▼ + stars: | 2023-09-06 | by ( Elizabeth Findell | Photographs Nadja Wohlleben For The Wall Street Journal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/europe/once-inoculated-by-its-nazi-past-germany-is-becoming-a-far-right-stronghold-7f278664

Persons: Dow Jones Locations: germany

☆ Hollywood strike, Yellow bankruptcy likely restrained US job growth in August
▼ + stars: | 2023-09-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

As such, economists are cautioning against reading too much into any sharp deceleration in job gains when the Labor Department's publishes its closely watched employment report on Friday. Nonfarm payrolls likely increased by 170,000 jobs last month after rising 187,000 in July, according to a Reuters survey of economists. Still, employment growth would be more than the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Yellow Corp trucking filed for Chapter 11 bankruptcy in early August, leaving about 30,000 workers unemployed. "This (job growth) would be one more piece of evidence that would be consistent with that, but that also depends a lot on the upcoming inflation data."

Persons: Elizabeth Frantz, it's, Brian Bethune, Nonfarm, payrolls, Conrad DeQuadros, Dean Maki, Ellen Zentner, Morgan Stanley, Lucia Mutikani, Nick Zieminski Organizations: REUTERS, Labor, Boston College, Labor Department's Bureau of Labor Statistics, American Federation of Television, Radio Artists, Yellow Corp, Brean, Point72, Management, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Stamford , Connecticut

Demand for carbon credits is on track to fall in 2023, according to two of the top data providers. Nestle, which has also not disclosed its spending on offsets, said it would stop using carbon offsets and was seeking other routes to net zero. Until this year, the voluntary carbon market had grown as more companies came under shareholder pressure to adopt net zero policies. SECOND THOUGHTSFor the carbon markets, another issue is that regulators and carbon market advisory bodies are limiting the scope of their use by companies. "You need to reduce emissions and that's how you will be judged in the market when you're disclosing your carbon emissions."

Persons: Elizabeth Frantz, Gucci, Renat Heuberger, Stephen Donofrio, certifier Verra, EasyJet, Jane Ashton, Ashton, Naomi Swickard, Verra, Zimbabwe's, Steve Wentzel, Wentzel, Kristian Rönn, Rob Hayward, Susanna Twidale, Sarah McFarlane, Barbara Lewis Organizations: New England Forestry Foundation, REUTERS, Nestle, Reuters, Marketplace, Shell, Boston Consulting, Offset, GEO, Verra, Carbon, Investments, United Nations, Voluntary, Initiative, EU, KLM, Companies, Thomson Locations: Hersey, New Hampton , New Hampshire, U.S, Kenya, Pole, Stockholm, Ghana

☆ US unemployment rate rises, wage growth cools as labor market slows
▼ + stars: | 2023-09-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The labor market is slowing in response to the U.S. central bank's hefty rate hikes to cool demand in the economy. Leisure and hospitality payrolls increased by 40,000. Household employment increased by 222,000. As a result, the unemployment rate increased to 3.8%, the highest level since February 2022, from 3.5% in July. The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, increased to 62.8%.

Persons: Elizabeth Frantz, Bill Adams, Nonfarm, Lucia Mutikani, Nick Zieminski, Chizu Nomiyama, Paul Simao Organizations: REUTERS, Federal Reserve, Labor Department, Employment, Comerica Bank, Reuters, Hollywood, Reuters Graphics Reuters, Treasury, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Dallas

☆ US second-quarter economic growth revised lower as inventories drop
▼ + stars: | 2023-08-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Economists polled by Reuters had expected GDP for the second quarter would be unrevised. Inventories were a small drag to GDP growth instead of adding 0.14 percentage point as estimated last month. It is expanding at a pace well above what Fed officials regard as the non-inflationary growth rate of around 1.8%. GDPINFLATION COOLINGThe government's measure of inflation in the economy, the price index for gross domestic purchases, rose at a 1.7% rate, revised down from the 1.9% rate estimated last month. An alternative measure of growth, gross domestic income, or GDI, rebounded at a 0.5% rate in the second quarter.

Persons: Elizabeth Frantz, Lydia Boussour, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: REUTERS, Commerce Department, Wednesday, Federal Reserve, Gross, Reuters, Fed, ADP, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, EY, New York

☆ US labor market loses steam as job openings, resignations decline
▼ + stars: | 2023-08-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was reinforced by a survey from the Conference Board showing consumers' perceptions of the labor market cooled in August. Nevertheless, labor market conditions remain tight, with 1.51 job openings for every unemployed person in July, compared to 1.54 in June. Economists polled by Reuters had forecast 9.465 million job openings. State and local government education job openings declined by 62,000 and there were 27,000 fewer federal government vacancies. Reuters GraphicsDeclining job openings are likely to be mirrored by slower job growth in August.

Persons: Elizabeth Frantz, Conrad DeQuadros, payrolls, Jerome Powell, Jackson, Jeffrey Roach, Christopher Rupkey, Scott Anderson, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: REUTERS, Federal Reserve, Labor, Survey, Labor Department, Board, Brean, Reuters, Midwest, Reuters Graphics, LPL Financial, Treasury, Fed, Companies, Bank of, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Northeast, West, Wyoming, Charlotte , North Carolina, Stocks, San Francisco

☆ US labor market cooling as job openings, quits decline
▼ + stars: | 2023-08-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

That was reinforced by a survey from the Conference Board showing consumers' perceptions of the labor market cooling in August. Nevertheless, labor market conditions remain tight, with 1.5 job openings for every unemployed person in July. Economists polled by Reuters had forecast 9.465 million job openings in July. The decrease was led by the professional and business services sector, where job openings dropped 198,000. The quits rate, viewed as a measure of labor market confidence, fell to 2.3% from 2.4% in June.

Persons: Elizabeth Frantz, Conrad DeQuadros, Jerome Powell, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor, Survey, Labor Department, Board, Brean, Reuters, Treasury, Fed, Companies, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York

"We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data," Powell said in a keynote address to the Jackson Hole Economic Policy Symposium. "It is the Fed’s job to bring inflation down to our 2% goal, and we will do so. The Fed has raised rates by 5.25 percentage points since March 2022, and inflation by the Fed's preferred gauge has moved down to 3.3% from its peak of 7% last summer. Although the decline was a "welcome development," Powell said, inflation "remains too high." Fed policymakers will also meet in November and December.

Persons: JACKSON, Jerome Powell, Powell, Jackson, Elizabeth Frantz, “ Powell, Michael Arone, Loretta Mester, Austan Goolsbee, Howard Schneider, Ann Saphir, Michael S, Lewis Krauskopf, Andrea Ricci Organizations: Federal, Federal Reserve Bank of Kansas City, Federal Reserve, Committee, REUTERS, Fed, State Street Global Advisors, Cleveland Fed, Chicago Fed, Derby, Thomson Locations: , Wyoming, U.S, Washington , U.S

Analysts see this as an emerging new trend of trade regionalisation in the eastern and western hemispheres - each dominated by one of the superpower - that could pose risks to global growth. This "will likely contribute to increased regionalisation of international trade, which would raise inflation and hamper growth for other countries caught in the crossfire." China has also applied to join the Comprehensive Progressive Trans-Pacific Partnership, one of the world's largest free trade agreements. To join this Pacific trade axis, though, China needs the approval from all member countries, including U.S. allies. "And both of those countries value trade with the U.S. under their North American framework more than they value trade with China."

Persons: Gina Raimondo, Elizabeth Frantz, Neil Thomas, Donald Trump, Joe Biden, Raimondo, Trump, William Hurst, Joe Cash, Kripa Jayaram, Marius Zaharia, William Mallard Organizations: . Commerce, Capitol, REUTERS, Southeast Asia, Analysts, Asia Society Policy Institute, Higher, Census, Reuters, Canada Agreement, Comprehensive, Pacific, U.S, University of Cambridge, Thomson Locations: Washington , U.S, China, Washington, Canada, Mexico, Beijing, Southeast, decouple, U.S, Japan, South Korea, Australia, New Zealand, Pacific

☆ US jobless claims fall as labor market remains tight
▼ + stars: | 2023-08-24 | by ( Safiyah Riddle | ) www.reuters.com time to read: +1 min

REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsAug 24 (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, as labor market conditions remained tight despite the Federal Reserve's aggressive interest rate hikes. Initial claims for state unemployment benefits decreased by 10,000 to a seasonally adjusted 230,000 for the week ended Aug. 19, the Labor Department said on Thursday. The labor market is continuing to defy expectations in the face of the Fed's aggressive interest hikes since March 2022, as employers hoard workers after struggling to find labor during the COVID-19 pandemic. Labor market strength and receding inflation are fanning optimism that the economy could avoid a recession. These so-called continuing claims remain low by historical standards, indicating that some laid-off workers are experiencing short spells of unemployment.

Persons: Elizabeth Frantz, Safiyah Riddle, Paul Simao Organizations: REUTERS, Labor Department, Reuters, Labor, Thomson Locations: Arlington , Virginia, U.S

☆ ‘Forever Chemicals’ Are Everywhere. What Are They Doing to Us?
▼ + stars: | 2023-08-16 | by ( Kim Tingley | ) www.nytimes.com time to read: +4 min

What’s in your tap water?” (If the drinking water is contaminated, formula mixed with it will be, too.) “But they feel heard.”Among the groups most likely to be exposed to PFAS in their drinking water are those in low-income communities or who live near military or industrial sites. determined that two kinds of PFAS — PFOS and PFOA — are “likely to be carcinogenic to humans” and proposed a goal of removing them almost entirely from public drinking water. The problem of PFAS pollution goes beyond drinking water: The Faroe Islands demonstrate as much. One afternoon this spring, Grandjean, Weihe and I sat around the kitchen table in Weihe’s clinic.

Persons: ” Elizabeth Friedman, don’t, ”, Friedman, he’d, Irving Selikoff, Selikoff, Grandjean, Selikoff’s, ” Grandjean, “ Organizations: Children’s Mercy, Children’s Mercy Kansas City, DuPont, Chermours, Toxic, European Chemicals Agency, European Union, Sinai Locations: Children’s Mercy Kansas, Missouri, U.S, United States, Paterson , N.J

REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsAug 15 (Reuters) - A U.S. appeals court on Tuesday revived part of a lawsuit claiming that the District of Columbia enforced an anti-graffiti law against anti-abortion protesters in Washington but not racial justice demonstrators in 2020. The U.S. Court of Appeals for the D.C. The foundation claimed D.C. authorities abandoned enforcement of the anti-graffiti law during widespread protests in the city following the murder of George Floyd by police in Minneapolis. U.S. District Judge James Boasberg dismissed the lawsuit in 2021, finding that the groups did not produce evidence of discriminatory intent by the D.C. government. “It is fundamental to our free speech rights that the government cannot pick and choose between speakers, not when regulating and not when enforcing the laws,” the court said.

Persons: Samuel Alito, Wade, Elizabeth Frantz, “, Frederick Douglass, George Floyd, Erin Hawley, James Boasberg, Andrew Goudsward, David Bario, Jonathan Oatis Organizations: U.S, Supreme, Washington , D.C, REUTERS, of Columbia, Appeals, Frederick, Frederick Douglass Foundation, Life, Washington, Alliance Defending, District, D.C, U.S . Constitution, Thomson Locations: Washington ,, Washington, America, Minneapolis, U.S .

☆ The oldest living person in Texas just turned 114: Here's why doctors say she's 'done everything right'
▼ + stars: | 2023-08-14 | by ( Renée Onque | ) www.cnbc.com time to read: +2 min

And after celebrating her 114th birthday last week in Houston with five generations of her family, Francis earned the title of the oldest living person in Texas, according to local ABC station KTRK-TV. "I just thank the good Lord for keeping me," Francis told the news station. Still, her granddaughter, Ethel Harrison, told ABC 13 that she thinks lifestyle has a lot to do with Francis' longevity. She never did that," Harrison told ABC 13. And Dr. Holly Holmes, a geriatric physician, said Francis "has done everything right" for longevity, according to ABC 13.

Persons: Elizabeth Francis, Francis, Ethel Harrison, Harrison, Thomas Perls, who's, Holly Holmes, Holmes, Warren Buffett Organizations: ABC Locations: Houston, Texas

The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. China said on Thursday it is "gravely concerned" about the order and that it reserves the right to take measures. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data.

Persons: Joe Biden, Elizabeth Frantz, Biden's, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Liz Lee, Lincoln, Jonathan Oatis, Cynthia Osterman, Michael Perry Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Chinese Commerce Ministry, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington, Beijing

The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data. The restrictions will hurt both Chinese and American businesses, interfere with normal cooperation and reduce investor confidence in the U.S., he said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Lincoln, Jonathan Oatis, Cynthia Osterman Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington

REUTERS/Elizabeth Frantz/File PhotoNEW YORK/WASHINGTON, Aug 9 (Reuters) - President Joe Biden on Wednesday signed an executive order that will narrowly prohibit certain U.S. investments in sensitive technology in China and require government notification of funding in other tech sectors. The long-awaited order authorizes the U.S. Treasury secretary to prohibit or restrict certain U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies, and certain artificial intelligence systems. Senate Democratic Leader Chuck Schumer praised Biden's order, saying "for too long, American money has helped fuel the Chinese military’s rise. Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Most investments captured by the order will require the government be notified about them.

Persons: Joe Biden, Elizabeth Frantz, Biden, Chuck Schumer, Biden's, Emily Benson, Benson, David Shepardson, Andrea Shalal, Karen Freifeld, Idrees Ali, Lincoln, Jonathan Oatis Organizations: White, REUTERS, Wednesday, U.S, Treasury, Democratic, Embassy, Reuters, Group, U.S . Department of Commerce, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, United States, U.S, Washington, States

REUTERS/Elizabeth Frantz/File PhotoNEW YORK/WASHINGTON, Aug 8 (Reuters) - The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. Reuters reported on Friday that President Joe Biden was expected to soon issue the long-awaited executive order to screen outbound investments in sensitive technologies to China this week. The administration is expected to target active investment such as U.S. private equity, venture capital and joint venture investments in China in semiconductors, quantum computing and artificial intelligence. Most investments captured by the order will require that the government be notified about them, sources have said. The details are still a work in progress, but it is unlikely to cover passive or securities investments, the person said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Jake Sullivan, Gina Raimondo, Emily Benson, Benson, David Shepardson, Karen Freifeld, Lincoln, Jonathan Oatis Organizations: White, REUTERS, Reuters, National, . Commerce, The New York Times, U.S . Department of Commerce, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Beijing, United States

U.S. President Joe Biden delivers remarks on access to mental health care in the East Room of the White House in Washington, U.S., July 25, 2023. REUTERS/Elizabeth Frantz/File PhotoNEW YORK/WASHINGTON, Aug 8 (Reuters) - The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. Reuters reported on Friday that President Joe Biden was expected to soon issue a the long-awaited executive order to screen outbound investments in sensitive technologies to China this week. The White House declined to comment on Tuesday. Most investments captured by the order will require that the government be notified about them, sources have said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Jake Sullivan, Gina Raimondo, Emily Benson, Benson, David Shepardson, Karen Freifeld, Lincoln Organizations: White, REUTERS, Reuters, National, . Commerce, The New York Times, U.S . Department of Commerce, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Beijing, United States

☆ US government offices close in DC due to severe storm threat
▼ + stars: | 2023-08-07 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

REUTERS/Elizabeth FrantzWASHINGTON, Aug 7 (Reuters) - U.S. government offices in the Washington area closed early on Monday due to a severe storm threat and tornado watch that was disrupting air travel. The National Weather Service said the Washington, D.C., area was under a tornado watch until 9 p.m. Libraries, museums, the National Zoo, pools and other municipal and federal services in the Washington area were also closing early. The tornado watch covers Maryland, Washington and much of Pennsylvania and Virginia. FlightAware, a flight tracking site, said more than 1,100 U.S. flights had been canceled, including 75 at Washington Reagan National Airport, or 17% of flights.

Persons: Elizabeth Frantz WASHINGTON, David Shepardson, Lisa Shumaker Organizations: U.S, Capitol, REUTERS, National Weather Service, D.C, National, U.S ., Management, Washington Reagan National Airport, Thomson Locations: Washington , U.S, Washington, Maryland, Pennsylvania, Virginia, U.S

☆ Slower, but still strong US employment growth expected in July
▼ + stars: | 2023-08-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Labor Department's closely watched employment report on Friday is still expected to show a tight labor market, with the unemployment rate steady near multi-decade lows, though wage growth probably moderated. Nonfarm payrolls likely increased by 200,000 jobs last month, after rising 209,000 in June, according to a Reuters survey of 80 economists. Still, employment growth would be double the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Striking Hollywood writers and actors also likely had no impact on employment growth. Though annual wage growth remains too high to be consistent with the Fed's 2% inflation target, it would be the latest indication of wage pressures continuing to subside into the third quarter.

Persons: Elizabeth Frantz, Sam Bullard, Nonfarm, Carl Riccadonna, Sung Won Sohn, Veronica Clark, Lucia Mutikani, Diane Craft Organizations: REUTERS, Federal Reserve, Labor, Fed, BNP, Labor Department's Bureau of Labor Statistics, Institute for Supply, Labor Department, Conference, Finance, Loyola Marymount University, Citigroup, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles

☆ Morning Bid: Next up, payrolls
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +3 min

U.S. markets are reeling this week from surging funding needs, the loss of the government's prized triple-A credit rating and a still-hot labour market. Longer-dated U.S. Treasuries have taken a beating this week, with 10-year and 30-year yields surging over 20 basis points, heading for their biggest weekly jump since late December. On Friday, if economists polled by Reuters are right, non-farm payrolls will have risen by 200,000 in July -- pretty much unchanged from June. Just last month, another stronger-than-expected ADP report sent yields surging, only to be followed by a weaker-than-expected nonfarm payrolls report, stoking yield swings. Key developments that should provide more direction to U.S. markets later on Friday:* U.S. July non-farm payrolls* Canada July employment data* Goodyear Tire earningsReporting by Yoruk Bahceli; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Frantz, Yoruk Bahceli, Fitch, Jerome Powell, nonfarm, Christina Fincher Organizations: REUTERS, Yoruk, Markets, Treasury, Reuters, Citi, Traders, Goodyear, Thomson Locations: Arlington , Virginia, U.S, Yoruk Bahceli . U.S, United States, Canada

Federal Reserve Board Chairman Jerome Powell speaks during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 26, 2023. Other parts of the Labor Department report were less encouraging for Fed policymakers counting on a labor market softening to put more downward pressure on inflation. Traders of contracts tied to the Fed's policy rate now see less than a 30% chance of another rate hike by the end of this year, down from about a 35% chance before Friday's jobs report. "I think overall this still does point to a labor market that is slowly but steadily heading toward a soft landing," said Daniel Zhao, lead economist at Glassdoor. There are several more key data releases that will shape Fed policymakers' views before the next policy meeting in September.

Persons: Jerome Powell, Elizabeth Frantz, Raphael Bostic, Austan Goolsbee, Daniel Zhao, Kathy Bostjancic, Ann Saphir, Tim Ahmann, Lucia Mutikani, Jason Neely, Kevin Liffey, Paul Simao Organizations: Federal, Committee, REUTERS, Federal Reserve, Atlanta Fed, Bloomberg Television, Labor Department, Chicago Fed, Nationwide, Thomson Locations: Washington , U.S, U.S

☆ US job growth slowing but labor market still tight
▼ + stars: | 2023-08-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The Labor Department's employment report on Friday also showed job growth in May and June was revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve's hefty interest rate hikes. "We haven't approached that fork in the road yet, but there is still a strong possibility that the labor market can rebalance without a recession." The job growth in June was the weakest since December 2020. With the labor market still tight, wages continued to rise at a solid clip. "The Fed will take comfort from moderating job growth, but will continue to fret about the tight labor market," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto.

Persons: Elizabeth Frantz, Nick Bunker, Sal Guatieri, Lucia Mutikani, Diane Craft, Paul Simao Organizations: REUTERS, Labor, Data, Reuters, Reuters Graphics Reuters, Employment, Treasury, BMO Capital Markets, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Toronto

☆ Harris rejects invite to debate slavery with Ron DeSantis
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Elizabeth Frantz/File PhotoWASHINGTON, Aug 1 (Reuters) - U.S. Vice President Kamala Harris on Tuesday rejected an invitation from Florida Governor Ron DeSantis to discuss the state's new Black history curriculum and said she will not be debating the topic of slavery with him. DeSantis, who is running for the 2024 Republican presidential nomination, on Monday invited Harris to Florida to discuss the state's new Black history curriculum after the vice president criticized it for backing guidelines that taught "revisionist history" about slavery in the United States. On Tuesday, Harris said, "I will tell you, there is no roundtable, no lecture, no invitation we will accept to debate an undeniable fact: There were no redeeming qualities of slavery." Harris flew to Orlando to deliver remarks at an African Methodist Episcopal Church event. Reporting by Nandita Bose in Washington; Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamala Harris, Reverend Wheeler Parker, Jr, Emmett Till, Mamie Till, Elizabeth Frantz, Florida Governor Ron DeSantis, DeSantis, Harris, Biden, Nandita Bose, Alistair Bell Organizations: U.S, White, REUTERS, Florida Governor, Monday, African Methodist Episcopal, Republicans, Thomson Locations: Illinois, Mississippi, Washington , U.S, Florida, United States, Orlando, Iowa, Chicago, Washington

Search resuls for: "Elizabeth F"

25 mentions found