U.S. President Donald Trump is ordering federal agencies to "investigate and remedy" persistent U.S. trade deficits, and address other countries' unfair trade practices and currency manipulation, according to a draft White House trade memo seen by Reuters that stops short of ordering immediate new tariffs.
Argentina posted a record $18.9 billion trade surplus for 2024, according to official data released on Monday, that largely coincides with libertarian President Javier Milei's first full year on the job.
- Companies around the world grew increasingly more optimistic about global growth in the coming year, but concerns about economic volatility and inflation remained, according to a survey on Monday as leaders gathered in Davos, Switzerland. Nearly 60% of bosses in a survey from accountants PwC felt optimistic about global growth in the 12 months ahead, compared to 38% a year earlier.
DAVOS,?Switzerland, Jan. 20, 2025 /PRNewswire/ -- Almost 60% of CEOs around the world expect global economic growth to increase over the next 12 months, according to PwC's 28th?Annual Global CEO Survey, launched today during the World Economic Forum Annual Meeting.
Guggenheim Partners' chief investment officer forecast on Monday that the U.S. Federal Reserve is likely to cut interest rates roughly every quarter in 2025, bringing the reduction to around 75 basis points or even a full percentage point this year.
Guggenheim Partners' chief investment officer forecast on Monday that the U.S. Federal Reserve is likely to cut interest rates roughly every quarter in 2025, bringing the reduction to around 75 basis points or even a full percentage point this year.
* James Longsdon says should have better view of US by summer. * Fitch already has tariff assumptions baked into ratings. * UK rating has more 'headroom' that France's for now. By Marc Jones.
Canadian firms see improved demand and sales in the coming year, largely fueled by rate cuts, but are concerned about the potential damage from promised U.S. policies, the Bank of Canada said on Monday. The Bank's fourth quarter business outlook survey said overall business sentiment remained subdued.
European Union finance ministers will approve French Prime Minister Francois Bayrou's deficit-cutting plan on Tuesday as it complies with the EU's recommendations to bring the French deficit below 3% of GDP by 2029, officials said.
ManpowerGroup's (MAN) delegation will join global government and business leaders in Davos to shape practical solutions to address polarization and progress upskilling as AI and automation accelerate MILWAUKEE, Jan. 20, 2025 /PRNewswire/ --?With artificial intelligence reshaping every industry and the green transition impacting demand for skills around the world, ManpowerGroup (MAN) brings insights around ...
A global effort by central banks to join the fight against climate change has hit a major hurdle with the U.S. Federal Reserve's decision to leave a club devoted to policing environmental risk in finance. The Fed said on Friday it would quit the Network for Greening the Financial System because it had "broadened in scope, covering a wider range of issues that are outside of the statutory mandate".
Mexico's headline and core inflation rates will likely land below 4% in January, deputy central bank governor Jonathan Heath told newspaper Excelsior in a story published on Monday, adding that the bank does not need to exaggerate a restrictive posture.
Brazil's central bank on Monday sold a total of $2 billion in two separate dollar auctions with repurchase agreement, it said in statements, its first foreign exchange intervention this year after selling more than $30 billion in December. The latest interventions are also the first under new central bank governor Gabriel Galipolo, appointed by President Luiz Inacio Lula da Silva.
All five members of the Bank of Israel's monetary policy committee voted on Jan. 6 to leave the benchmark interest rate at 4.50%, minutes of the discussion showed on Monday.
European Union finance ministers will approve French Prime Minister Francois Bayrou's deficit-cutting plan on Tuesday as it complies with the EU's recommendations to bring the French deficit below 3% of GDP by 2029, officials said.
Rating agencies Fitch and S&P Global downgraded Property developer China Vanke on Monday as the company sinks further into a liquidity crunch within a struggling property sector in China.
The pound hit a fresh five-month low versus the euro on Monday, even as it rose against a weakening dollar, as recent economic data and comments from a Bank of England official led investors to increase their bets on future BoE rate cuts.
LONDON, Jan. 20, 2025 In anticipation of the World Economic Forum's 2025 Annual Meeting in Davos this week, themed Collaboration for the Intelligent Age, a new interview series has just gone live. Through these candid discussions, the series explores how businesses are tackling some of the most pressing challenges of our time?sustainability, technological innovation, and social equity.
The pound hit a fresh five-month low versus the euro on Monday, even as it rose against a weakening dollar, as recent economic data and comments from a Bank of England official led investors to increase their bets on future BoE rate cuts.
Greece's current account deficit shrank slightly in November compared to the same month in 2023, helped by robust tourism revenues, the Bank of Greece said on Monday. Central bank data showed the current account deficit was 3.15 million euros in November, down from a deficit of 3.18 billion euros in the same month a year earlier.
Greece's current account deficit shrank in November compared to the same month in 2023, the Bank of Greece said on Monday. Central bank data showed the current account deficit was 3.15 million euros in November, down from a deficit of 3.18 billion euros in the same month a year ago.
By Mike Peacock. Bond vigilantism has returned to Britain, raising the prospect that the government will be forced to consider politically toxic tax rises or public spending cuts to placate investors concerned about the country's fiscal health. In the first weeks of 2025, certain gilt yields spiked to highs last seen in 2008.
Zou Lan, head of the monetary policy department at the People's Bank of China, will be promoted to deputy governor of the central bank, two sources with knowledge of the matter said. The appointment will be announced as soon as this week, according to the sources, who declined to be identified due to the sensitivity of the matter.
A new survey conducted by ZERO13, the blockchain powered, award-winning international carbon exchange, registries and services orchestration ecosystem, reveals strong support for transformative reforms in voluntary and compliance carbon markets.
Japanese government bond yields eased on Monday as traders braced for potential volatility ahead of Donald Trump's swearing in as U.S. president later in the global day.
* Donald Trump takes office at noon ET. * Goldman Sachs raises central bank gold demand forecast. * Fed to hold rates steady in Jan, resume cutting in March- poll. By Rahul Paswan.
The Bank of Japan is expected to raise interest rates on Friday barring any market shocks when U.S. President-elect Donald Trump takes office, a move that would lift short-term borrowing costs to levels unseen since the 2008 global financial crisis.
China left benchmark lending rates unchanged at the monthly fixing on Monday, as a weakening yuan has limited Beijing's monetary easing efforts. The one-year loan prime rate was kept at 3.1%, while the five-year LPR was unchanged at 3.6%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
Japan's core machinery orders rose 3.4% in November from the previous month to beat analysts' forecast, government data showed on Monday, signalling a recovery in capital expenditure ahead of a central bank interest rate review later this week. The reading was stronger than a 0.4% decline estimated in a Reuters poll and marked a second consecutive month of increase.
* Small-cap Russell 2000 has pulled back sharply from Nov highs. * Trump's pro-growth policies seen helping small cap stocks. * Slower Fed rate cuts, tariffs could weigh on small caps. By Lewis Krauskopf. As investors seek assets that will shine under a Donald Trump presidency, one corner of the U.S. stock market expected to benefit from the Republican's policies has been stumbling.
- Norwegian Johannes Thingnes Boe, who dominated the biathlon at the 2022 Winter Olympics, has decided to retire at the end of the season and will not defend his titles at next year's Milan-Cortina Games, he said on Saturday. The 31-year-old won four of six possible gold medals at the Beijing Games and also took one gold from the 2018 edition in Pyeongchang.
By Elisa Martinuzzi. Armed conflict is the top risk in 2025, a World Economic Forum survey released on Wednesday showed, a reminder of the deepening global fragmentation as government and business leaders attend an annual gathering in Davos next week.
In a historic celebration of leadership and technological innovation, Brock Pierce, DNA Holdings, and Ambassador Paolo Zampolli are proud to host the Blockchain Ball, an exclusive event honoring the inauguration of the 47th President of the United States, Donald J. Trump.
* Oil output increased to 616,000 bpd from 391,000 bpd. * Oil revenue rose to $2.57 billion, including crude sales, royalties. * Economy expected to expand 10.6% this year. By Kemol King and Marianna Parraga.
Brazil's central bank will hold two line auctions with a total offer of $2 billion on Jan 20, it said in a statement on Friday. Monday's intervention will mark the central bank's first extra supply of dollars in 2025.
?. AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the life/health insurance subsidiaries of Prudential Financial, Inc. [NYSE: PRU], collectively referred to as Prudential.
Foreign holdings of U.S. Treasuries rose in November but held below a record high reached in September, as China increased its portfolio of U.S. debt, data from the Treasury Department showed on Friday. Holdings of U.S. Treasuries rose to $8.635 trillion in November from $8.583 trillion in October. Japan's Treasuries holdings decreased to $1.099 trillion from $1.102 trillion the previous month.
* US two-year, 10-year yields post biggest weekly drop in 7 weeks. * US two-year, 10-year yields hit two-week lows. * US rate futures price in nearly 40 bps of easing in 2025. * US 2/10 Treasury yield curve bear flattens. By Gertrude Chavez-Dreyfuss.
Brazil's Finance Minister Fernando Haddad said on Friday that high interest rates are poised to have a much stronger effect on inflation than many expect, dismissing fears that fiscal challenges could undermine the effectiveness of monetary policy.
While the new tax policies should address the state's projected deficit, rating agencies are cautious about the projected revenues and federal spending on Medicaid, which could impact Louisiana.
The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System because its increasingly broadened scope had fallen outside the Fed's statutory mandate.
The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System because its increasingly broadened scope had fallen outside the Fed's statutory mandate.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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