Cuba requests US aid after Hurricane Ian knocks out power, the Wall Street Journal reports

WASHINGTON, Sept 30 (Reuters) – Cuba’s government has made a rare request for emergency assistance from the administration of US President Joe Biden after Hurricane Ian knocked out power to the entire island of 11 million people, the Wall Street Journal reported on Friday. Hurricane Ian tore through the island nation on Tuesday, causing a … Read more

UK’s Truss: I recognize there has been market disruption

LONDON, Sept 30 (Reuters) – British Prime Minister Liz Truss said on Friday she recognized there had been some financial market disruption following the government’s so-called mini budget and that it was important monetary and fiscal policy are coordinated. Truss has so far argued market turbulence following the announcement of planned tax cuts a week … Read more

Exclusive: JPMorgan to hire about 2,000 engineers even as the economy softens

PLANO, Texas, Sept 30 (Reuters) – JPMorgan Chase & Co plans to hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, its global chief information officer, Lori Beer, said on Wednesday. The biggest US lender added a net more than 5,000 software developers and data scientists last year and … Read more

US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

Dutch inflation leaps to 17%, boosted by high energy prices

AMSTERDAM, Sept 30 (Reuters) – Inflation in the Netherlands jumped in September to its highest in decades, driven by skyrocketing energy prices, the statistics agency (CBS) said on Friday. Consumer prices, harmonized to be comparable with inflation data from other European Union countries (HICP), rose to 17.1% this month after August’s jump to 13.7%. Energy … Read more

SNAPSHOT Wall St opens lower as inflation data adds to rate-hike worries

Sept 30 (Reuters) – Wall Street’s main indexes opened lower on Friday as resilient core inflation in August stoked fears of more big-sized interest-rate hikes denting a rebound in consumer spending. The Dow Jones Industrial Average (.DJI) fell 102.58 points, or 0.35%, at the open to 29,123.03. The S&P 500 (.SPX) opened lower by 6.99 … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

French inflation unexpectedly pulls back again in September

PARIS, Sept 30 (Reuters) – French inflation slowed unexpectedly for a second month running in September, bucking the trend in neighboring Germany and the wider euro zone, helped by decelerating increases in prices of energy and services, data showed on Friday. The INSEE national statistics agency said France’s EU-harmonised rate of annual inflation fell to … Read more

HSBC kicks off informal investor talks for Indonesian business IPO

HONG KONG, Sept 30 (Reuters) – HSBC Holdings Plc has started briefing investors on a potential initial public offering (IPO) of its Indonesian business, said two sources with direct knowledge of the matter. Executives at HSBC Indonesia have met with a group of fund managers in Singapore since last week to discuss details of the … Read more

Hong Kong retail sales slip 0.1% in August

HONG KONG, Sept 30 (Reuters) – Hong Kong’s August retail sales slipped 0.1% from a year earlier amid a high base of comparison, government data showed on Friday. Sales decreased to HK$28.6 billion ($3.64 billion), having grown 4.1% in July. In volume terms, retail sales fell 2.9% year-on-year in August. That compares with a revised … Read more