The Labor Department released a report on Thursday showing a modest increase by first-time claims for U.S. unemployment benefits in the week ended September 7th. The report said initial jobless claims rose to 230,000, an increase of 2,000 from the previous weeks revised level of 228,000. Economists had expected jobless claims to inch up to...
The Bank of England said the capital threshold for major UK banks will be virtually unchanged, and delayed the implementation date for the new Basel standards by another six months as regulators bowed down to heavy lobbying. The Prudential Regulation Authority estimated that the tier 1 capital requirements for major banks will increase by less...
The Labor Department released a report on Thursday showing a modest increase by first-time claims for U.S. unemployment benefits in the week ended September 7th. The report said initial jobless claims rose to 230,000, an increase of 2,000 from the previous weeks revised level of 228,000. Economists had expected jobless claims to inch up to...
The European Central Bank reduced its key interest rates by 25 basis points on Thursday, as expected, as the euro area growth is expected to slow on weaker demand and core inflationary pressures remain high, thanks to the stickiness of services inflation. The Governing Council, led by ECB President Christine Lagarde, lowered the deposit facility...
A report released by the Labor Department on Thursday showed producer prices in the U.S. rose by slightly more than expected in the month of August. The Labor Department said its producer price index for final demand crept up by 0.2 percent in August, while revised data showed prices were unchanged in July. Economists had...
Indian shares were subdued in early trade on Friday as investors reacted to mixed industrial output and retail inflation readings and awaited a Federal Reserve interest-rate cut next week. The benchmark S&P/BSE Sensex dipped 198 points, or 0.2 percent, to 82,764 while the broader NSE Nifty index was down 63 points, or 0.3 percent, at...
European stocks are likely to open on a firm note Friday, a day after the European Central Bank cut the deposit interest rate by 25 basis points, as expected, and kept the door wide open for more rate cuts without giving any guidance on the future path. An interest rate cut from the Bank of...
The U.S. Food and Drug Administration authorized Apple Inc.s over-the-counter or OTC hearing aid software device, Hearing Aid Feature, a first of its kind. The tech major intends to use the new software with compatible versions of the Apple AirPods Pro headphones. The Hearing Aid Feature or HAF, once installed and customized to the users...
The U.S. dollar weakened against its major counterparts in the Asian session on Friday. In contrast, the Japanese yen strengthened against its peers, as investors are upbeat about the rising prospects of an interest rate cut by the U.S. Fed next week, and probability of a series of interest rate cuts before the end of...
The U.S. dollar extended decline against its major counterparts in the New York session on Friday. The greenback fell to 1-week lows of 1.1101 against the euro and 1.3157 against the pound, off its early highs of 1.1070 and 1.3114, respectively. The greenback dropped to a 2-day low of 0.8443 against the franc and near...