Hurricane Fiona helps to boost US weekly jobless claims

Weekly jobless claims increase 29,000 to 219,000 Continuing claims rise 15,000 to 1,361 million Announced job cuts jump 46% to 29,989 in September WASHINGTON, Oct 6 (Reuters) – The number of Americans filing new claims for unemployment benefits increased by the most in four months last week, but the labor market remains tight even as … Read more

One tops ancient Roman busts in Vatican museums

VATICAN CITY, Oct 5 (Reuters) – A man toppled two ancient Roman busts in the Vatican Museums on Wednesday, causing moderate damage before being stopped by staff and arrested, a museum source said. The source, who spoke on condition of anonymity because he was not authorized to discuss an ongoing investigation, said the man was … Read more

Tight global oil supply can’t be reversed easily, Shell, Aramco CEOs say

LONDON, Oct 4 (Reuters) – The oil market is not focusing on the fact that global spare capacity to raise oil production is very low, Saudi Aramco’s Chief Executive said on Tuesday, with Shell’s Chief Executive saying investments will not shift because prices are high . “(The market is) focusing on what will happen to … Read more

Sterling stands tall after UK policy U-turn; Aussie wobbles before RBA

TOKYO, Oct 4 (Reuters) – Sterling rose to a fresh post-budget high on Tuesday in Asia, weighing on the broader US dollar index, as the UK currency extended its recovery a day after the British government capitulated on tax cuts. The Aussie dollar retreated from near the top end of its recent range against the … Read more

China’s factory, services surveys suggest economy struggling to rebound

China Sept official manufacturing PMI above forecast Private survey shows factory activity contracted sharply Services sector activity growth slowed in Sept – official survey COVID curbs, softening foreign demand, property weakness weigh BEIJING, Sept 30 (Reuters) – China’s factory activity showed growth in September, but a slowdown in services sector growth and a downbeat private … Read more

GLOBAL ECONOMY Asia’s factory activity weakens on global slowdown, cost pressures

Japan Aug PMI marks weakest growth since Jan last year Manufacturing activity shrinks in Taiwan, Malaysia Slowing China, US demand weighing on Asia’s economies TOKYO, Oct 3 (Reuters) – Asia’s factory output mostly weakened in September as slowing demand in China and advanced economies added to the pain from persistent cost pressures, surveys showed on … Read more

Iran Protests Show the Depth of Social and Economic Pain

“For the victims of flight ps752,” reads one posting on Twitter, referring to the Ukrainian passenger plane that was shot down by the Islamic Revolutionary Guard Corps in January 2020, killing 176 people. “For the Blue Girl,” reads another, a reference to Sahar Khodayeri, who set herself on fire and died in 2019 after being … Read more

China’s $5 Trillion Rout Creates Historic Gap With Indian Stocks

China’s “draconian lockdowns continue to impact these supply chains, so the clamor for an alternative has been rapidly gaining favor,” said Nick Payne, a London-based investment manager for global emerging-market equities at Jupiter. “India is the key candidate to fill that role, in an approach that’s been dubbed China+1.”

Credit Suisse Rehires Health-Care Investment Banker Nikhil Goel

Goel resigned last year to join Absci Corp. as chief strategy officer after more than five years at Credit Suisse, where he was last a director. His move back to the bank comes amid both an effort by management to replenish senior ranks after a slew of defections and a comprehensive strategic review. Over the … Read more