Reserve Bank of Australia Governor Michele Bullock said it is premature to think about interest rate cuts and the highest priority is to bring inflation sustainably towards the target. At the Anika Foundation, Bullock reiterated that the bank remains vigilant to upside risks to inflation and the monetary policy needs to remain sufficiently restrictive. If...
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 31st. The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous weeks revised level of 232,000....
A report released by the Labor Department on Thursday showed labor productivity in U.S. jumped by more than previously estimated in the second quarter, while unit labor costs rose by less than previously estimated. The Labor Department said labor productivity shot up by 2.5 percent in the second quarter compared to the previously reported 2.3...
Elliott Investment Management L.P. now holds 10 percent stake in Southwest Airlines Co., crossing the threshold that would allow the investment firm to call a special meeting, Reuters reported citing a person familiar with the matter. The development comes as the airline and the hedge fund, amid its ongoing public fight, are scheduled to meet...
7-Eleven, Inc., which operates more than 13,000 convenience-retailing stores, announced the launch of a new Slurpee drink flavor, Coca-Cola OREO Zero Sugar, ahead of the brands annual Slurpee Day celebration. The Irving, Texas-based company said the limited-time Slurpee drink with Coca-Cola and OREO is exclusively available at participating 7-Eleven, Speedway and Stripes stores across the...
A reading on U.S. manufacturing activity saw a modest increase in the month of August but continued to indicate contraction, according to a report released by the Institute for Supply Management on Tuesday. The ISM said its manufacturing PMI inched up to 47.2 in August from 46.8 in July, with a reading below 50 indicating...
Consumer sentiment in the U.S. improved by slightly more than previously estimated in the month of August, the University of Michigan revealed in a report released on Friday. The University of Michigan said its consumer sentiment index for August was upwardly revised to 67.9 from the preliminary reading of 67.8. While the upwardly revised reading...
The U.S. dollar firmed against its major counterparts in the New York session on Friday, as a key inflation reading matched expectations, supporting expectations for a rate cut next month. Data from the Commerce Department showed that the personal consumption expenditures (PCE) price index rose by 0.2 percent in July after inching up by 0.1...
The Canadian market is down in negative territory a little past noon on Friday, having retreated after edging up a bit early on in the session. Though positive Canadian GDP data and U.S. inflation report aid sentiment, the mood remains a bit cautious with investors looking ahead to U.S. Personal income & spending data due...
The Switzerland market ended higher on Friday, extending gains to a third straight session, as encouraging European and U.S. economic data and optimism about interest rate cuts helped underpin sentiment. The benchmark SMI ended with a gain of 18.87 points or 0.15% at 12,436.59. The index moved in a tight range between 12,417.72 and 12,483.57....