ECONOMY & MARKETS

Philippine inflation accelerated to its fastest pace in nearly four years in July, government data showed on Friday, maintaining pressure on the central bank to further tighten monetary policy at its Aug.

The dollar crept higher on Friday but struggled to recoup its losses after falling by its sharpest pace in two weeks, as investors remained on tenterhooks ahead of U.S.

Japan's households increased spending for the first time in four months in June, as demand for travel services rose in a positive sign for broader recovery prospects.

Japan's households increased spending for the first time in four months in June, as demand for travel services rose in a positive sign for broader economic recovery prospects.

The Philippines' Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970s oil crisis.

The Canadian dollar edged lower against its broadly weaker U.S. counterpart on Thursday as a drop in oil prices offset data showing that Canada's trade surplus widened in June.

Argentine Economy Minister Sergio Massa instructed finance officials to halt all new temporary cash transfers from the treasury to pay for government spending effective Thursday, according to an official document seen by Reuters.

Argentina's new economy chief took a first step toward imposing new restraints on government expenditures, spending that has fueled one of Latin America's highest inflation rates in a country long plagued by financial turmoil.

Saudi Arabia has registered a budget surplus of nearly 78 billion riyals ($21 billion) in the second quarter of 2022, the finance ministry said on Thursday, an almost 50% rise from a year earlier, bolstered by high oil prices.

Canada's trade surplus with the world widened to C$5.05 billion ($3.94 billion) in June as exports of energy products reached a record high but analysts said it would narrow in months to come thanks to lower crude prices.

The number of Americans filing new claims for unemployment benefits increased last week, suggesting some softening in the labor market, though overall conditions remain tight.

The S&P 500 index was flat on Thursday as losses in Apple and energy firms dampened the bullish sentiment that had fueled a rally in the previous session, with investors awaiting monthly jobs data for cues on the path of future interest rate hikes.

Wall Street edged lower on Thursday in choppy trading as losses in Apple Inc and energy companies dampened the bullish resolve of the major indexes that had rallied in the previous session to its best in a week.

Wall Street was set for a muted open on Thursday as investors digested a fresh batch of earnings after a rally that made the previous session the best in a week, while the number of Americans claiming unemployment benefits rose slightly.

Wall Street's main indexes ended mixed in a dull session on Thursday as gains in high-growth stocks offset losses in energy shares, with investors looking ahead to monthly jobs report for clues on the pace of interest rate hikes by the Federal Reserve.

Canada's main stock index edged higher on Thursday as gains for consumer and industrial shares offset fresh lows for oil prices that pressured the energy sector, a day before key U.S.

The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a rise in inflation which is now set to top 13%.

OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a "significant increase" in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the top Gulf exporters said.

Turkish exporters are revising down year-end targets in a move that could derail the government's economic plans as new orders drop amid signs of a global slowdown and inflationary pressure.

The Japanese yen's rise against the U.S. dollar since mid-July is a temporary shift, nearly two-thirds of currency strategists in a Reuters poll said, despite looming uncertainties over the global economy that have curbed the U.S.

The Japanese yen's rise against the U.S. dollar since mid-July is a temporary shift, nearly two-thirds of currency strategists in a Reuters poll said, despite looming uncertainties over the global economy that have curbed the U.S.

British construction companies reported their biggest fall in activity in more than two years last month, as house-builders scaled back work and civil engineering firms faced a dearth of new contracts, a survey showed on Thursday.

Italy plans to approve on Thursday a new aid package worth around 14.3 billion euros ($14.5 billion) to help shield firms and families from surging energy costs and consumer prices, government officials said.

Italy approved on Thursday a new aid package worth around 17 billion euros ($17.4 billion) to help shield firms and families from surging energy costs and rising consumer prices.

Overseas investors turned net sellers of Chinese stocks in July, as mainland stock prices tumbled on concerns that COVID-19 flare-ups and ensuing lockdowns would further disrupt economic activity.

India's rupee will trade near its historic low in the coming three months, despite a recent recovery, based on a widening trade deficit and global flows into safe-haven U.S.

Wall Street stocks slipped on Thursday while Treasury yields eased with oil as recession worries intensified among investors following the Bank of England's warning of a drawn-out downturn, which nudged sterling to a one-week low.

Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro zone with a hefty hike in interest rates to quell inflation, saying Britain faces a lengthy recession.

Strong earnings at Credit Agricole and Lufthansa lifted stocks on Thursday as tension over Nancy Pelosi's visit to Taiwan eased and markets bet the Bank of England will hike interest rates by the largest amount since 1995 to quell inflation.