U.S. House of Representatives Speaker Nancy Pelosi on Saturday set an Oct. 1 target date for passing President Joe Biden’s multitrillion-dollar infrastructure and social spending agenda. In a “Dear Colleague” letter to her fellow Democrats, Pelosi also warned against delaying next week’s expected vote on a $3.5 trillion budget resolution Continue Reading
UK inflation slows more sharply than expected to 2.0% in July-ONS
British inflation cooled more quickly than expected in July when it slowed to 2.0% in annual terms from 2.5% in June, official data showed on Wednesday. Economists polled by Reuters had expected a reading of 2.3%.
UK payrolls move closer to pre-pandemic level – ONS
The number of employees on British company payrolls rose by 182,000 in July from June, moving closer to their pre-pandemic level as the economy recovers from its coronavirus lockdowns, tax data showed on Tuesday. The Office for National Statistics said 28.9 million people were now on company payrolls, 201,000 shy Continue Reading
UK update – House prices fall for first time in 2021, BHP to exit petroleum?
Investing.com – At 08:35BST, the FTSE 100 is trading lower by 0.7% at 7,166. The midcap FTSE 250 is trading lower by 0.1% at 23,760. In FX markets, GBP/USD is trading at 1.3861, EUR/GBP is trading at 0.8506. The US Dollar Index is flat. This week’s calendar highlights include labour market (Tue), inflation (Wed) and (Fri) data from the UK. On Wednesday, the FOMC releases Continue Reading
Oil prices drop amid faltering demand outlook in China
Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world’s no.2 economy. Brent crude was down 90 cents, or 1.3%, at $69.69 a barrel Continue Reading
Pelosi suggests tying infrastructure plan, $3.5 trln budget resolution
U.S. House Speaker Nancy Pelosi told lawmakers Sunday that she had asked a House committee to advance both a $1 trillion infrastructure plan and a $3.5 trillion spending package together, an apparent effort to patch up divisions that had threatened to stall President Joe Biden’s legislative priorities. The U.S. Senate Continue Reading
Australia purchases Pfizer vaccines from Poland as COVID-19 infections spike
(Recasts with new vaccine announcement, infections in NSW) Australia has purchased about 1 million doses of Pfizer Inc’s COVID-19 vaccine from Poland to add to its inoculation efforts in Sydney and its home state, which on Saturday entered a snap lockdown amid record new infections. Prime Minister Scott Morrison said on Sunday Continue Reading
Vodafone to bring back roaming charges for UK customers in January
Mobile phone operator Vodafone said on Monday it would reintroduce European roaming fees for new and upgrading British customers in January, following the lead set by rival EE . Roaming charges were completely abolished in the European Union in 2017, saving holidaymakers and business travellers millions of pounds a year in total Continue Reading
Gold remains vulnerable after earlier crash to March lows
Gold was smashed lower in Asia Pacific trading, in a relatively quick drop from $1,750 to $1,677 as sellers continued the post-NFP momentum to this week.There are a couple of reasons perhaps for the sudden move and maybe by putting things together, it can explain the sharp fall in gold Continue Reading
China’s export slowdown in July may signal more bumps ahead
* July exports +19.3% yr/yr vs +20.8% forecast in Reuters poll * July imports +28.1% yr/yr vs +33.0% forecast * July trade balance $56.58 bln vs $51.54 bln forecast China’s export growth unexpectedly slowed in July following outbreaks of COVID-19 cases, while imports also lost momentum, pointing to a slowdown Continue Reading