The average rate on a 30-year mortgage rose to 6.95% this week, Freddie Mac says, ending a four-week rate slide
LOS ANGELES (AP) — The average rate on a 30-year mortgage rose to 6.95% this week, Freddie Mac says, ending a four-week rate slide.
LOS ANGELES (AP) — The average rate on a 30-year mortgage rose to 6.95% this week, Freddie Mac says, ending a four-week rate slide.
Book deals, speaking engagements, and a return to finance will add to Sunak’s massive net worth.
‘Your money in the bank isn't money.’
(Bloomberg) -- Canadian Prime Minister Justin Trudeau’s government has authorized the implementation of a digital-services tax on large foreign technology companies, despite warnings of trade retaliation from the US. Most Read from BloombergStocks Up as Path to September Fed Cut Gets Wider: Markets WrapSingapore Couples Are Marrying Earlier to Buy Homes, Leading Some to RegretKamala Harris Is Having a Surprise Resurgence as Biden’s Campaign UnravelsA $14 Billion Walmart Heir Joins Novogratz Urgi
The Canadian labour market stalled last month, shedding 1,400 jobs.
NEW YORK (AP) — U.S. stocks rose to more records Friday after a highly anticipated report on the job market bolstered Wall Street’s hopes that interest rates may soon get easier.
WASHINGTON (AP) — America’s employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand high interest rates.
MADISON, Wis. (AP) — The Wisconsin Legislature's Republican-controlled budget committee can't legally block conservation projects initiated by Democratic Gov. Tony Evers' administration, the state Supreme Court ruled Friday.
OTTAWA (Reuters) -Canada's unemployment rate rose to a 29-month high of 6.4%, data showed on Friday, highlighting that people might be losing jobs as the labor market struggles to absorb a rapidly swelling population. The jobs report, which also showed that youth unemployment reached almost a decade high barring the pandemic years, prompted money markets to increase bets of a rate cut by the Bank of Canada this month to around 56% from 40% a day earlier. Economists pointed out that the rising unemployment rate could be indicating that Canada is flirting with recession.
TORONTO — Losses in the energy sector led Canada's main stock index lower on Friday, while U.S. stock markets rose to new records.
A legislative bonanza and international summits will be key features of Sir Keir Starmer’s first weeks in No 10.
TOKYO (Reuters) -Japanese household spending fell unexpectedly in May as higher prices continued to squeeze consumers' purchasing power, data showed on Friday, complicating the central bank's decision on how soon to raise interest rates. Many analysts expect consumption to rebound in the coming months as big wage hikes offered by companies and a tax break aimed at cushioning the blow from rising living costs reach households. The Bank of Japan (BOJ) will highlight how pay increases are spreading, including at smaller firms, in a report due later this month, sources have told Reuters, a trend that strengthens the case for a near-term interest rate hike.
The June jobs report comes at a crucial moment as economists debate whether the US labor market is still normalizing to pre-pandemic levels or showing the early signs of a broader slowdown.
Before this morning's jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.
BRUSSELS (Reuters) -The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels' largest trade case yet. There is however a four-month window during which the tariffs are provisional and intensive talks are expected to continue between the two sides as Beijing threatens wide-ranging retaliation. The European Commission's provisional duties of between 17.4% and 37.6% without backdating are designed to prevent what its president Ursula von der Leyen has said is a threatened flood of cheap EVs built with state subsidies.
Former President Donald Trump -- and 2024 presidential candidate -- recently floated an idea about eliminating income taxes and replacing them with tariffs. Learn More: I'm an Economist: Here's What a...
The June jobs report showed unemployment approaching a three-year high and raised the pressure on the Fed to act on rate cuts in September.
Canada's services economy moved back into contraction in June as a decline in new business weighed on the sector's performance even as inflation pressures cooled, S&P Global Canada services PMI data showed on Thursday. The headline business activity index fell to 47.1 from 51.1 in May, posting its lowest level since March. "Following a return to growth in May, Canada's services economy slipped back into the moribund trend that has so characterized its performance in the post-pandemic period," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement.
(Reuters) -Canada's main stock index posted a sharp fall on Friday, ending this week's rally as fears that the country might enter a recession overshadowed lackluster U.S. and Canada jobs data that advanced and firmed rate cut hopes. The Toronto Stock Exchange's S&P/TSX composite index ended down 0.77% to 22,072.21 points, and closed at almost the same level seen a month ago. The index had edged up to a near five-week high on Thursday driven by resource companies, pretty much the same basket of stocks that drove the index down in the day.
June's unemployment rate in Windsor is the highest in Canada, according to Statistics Canada.In its monthly labour force survey report, the agency said Windsor's unemployment rate came in at 9.1 per cent for June, up from 8.5 per cent in May.Calgary's unemployment is second highest in the country at 8.5 per cent.On a national level, the Canadian economy lost 1,400 jobs in June, pushing the unemployment rate to its highest level in more than two years. The overall unemployment rate rose 0.2 perce
Futures tied to Canada's main stock index climbed on Friday as gold and copper prices rose, while investors ...