Asian stocks gain despite rising numbers of Chinese COVID cases

SYDNEY, Nov 23 (Reuters) – Asian stock markets were mostly upbeat on Wednesday, despite mounting cases of COVID-19 in mainland China, leaving investors unsure about the extent to which the new outbreaks will affect the reopening of the second-largest economy in the world could slow down. MSCI’s broadest index of Asia-Pacific equities outside Japan (.MIAPJ0000PUS) … Read more

Bank of Canada says high rates are starting to work, housing and debt are a concern

OTTAWA, Nov. 22 (Reuters) – Higher interest rates are starting to slow Canada’s economy, the Bank of Canada said on Tuesday, putting pressure on highly indebted households and those who recently bought homes on variable-rate mortgages. “It will take time to get back to solid growth with low inflation, but we will get there,” Deputy … Read more

Spain approves mortgage support for more than 1 million households

Measures support vulnerable families with an income limit of 25,200 euros Threshold for medium-sized businesses set at 29,400 euros Measures include extending loan repayments to 7 years Promotions also provide grace periods and refund freezes Plan will be finalized on Tuesday after talks with banks MADRID, Nov 21 (Reuters) – The Spanish government will on … Read more

German house prices fall 3.5% next year as buyers feel the pressure – Reuters poll

LONDON, Nov 21 (Reuters) – German house prices are set to fall 3.5% next year as the cost of living and rising borrowing costs hit consumers, but the likelihood of an outright crash is slim, according to a Reuters poll of property market experts . Harmonized consumer price inflation in Europe’s largest economy hit 11.6% … Read more

Europe is rushing to fill up on Russian diesel before the ban kicks in

LONDON, Nov. 21 (Reuters) – European traders are scrambling to fill tanks in the region with Russian diesel before an EU ban takes effect in February as alternative sources remain limited. On February 5, the European Union will ban the import of Russian oil products, on which it heavily depends for its diesel. That follows … Read more

Michael Bloomberg apologizes for Boris Johnson’s speech criticizing China

BEIJING, Nov 20 (Reuters) – Michael Bloomberg last week apologized at a business forum organized by the news agency he founded for comments by British former Prime Minister Boris Johnson who criticized China as autocratic. The controversy highlights China’s influence in Asia and sensitivities about public criticism of Beijing. Bloomberg, a former mayor of New … Read more

NY Fed: Bank liquidity may be tighter than thought, with policy implications

Nov 18 (Reuters) – The way the banking system manages its cash suggests the financial system may not be as good as many now understand, and that could have implications for how the Federal Reserve manages the size of its balance sheet, a paper says of the The Federal Reserve Bank of New York said … Read more

Trump’s 2024 presidential bid is another wrinkle for the markets

NEW YORK, Nov 16 (Reuters) – Former President Donald Trump’s entry into the 2024 presidential race on Tuesday confirmed the world’s “worst kept secret” and created another variable for markets that some investors say is a low priority for now. Trump, who has made relentless attacks on the integrity of American voting since his 2020 … Read more

Exclusive: Germany is ramping up contingency plans to deal with the blackout

FRANKFURT, Nov. 15 (Reuters) – German authorities are stepping up preparations for emergency supplies in the event of a power outage to keep the economy going, four people involved said, as the country braces for potential blackouts from the war in Ukraine. The plans include the Bundesbank, Germany’s central bank, hoarding extra billions to meet … Read more

The US can avoid a recession in 2023, Europe is not so lucky – Morgan Stanley

TOKYO, Nov 14 (Reuters) – Britain and eurozone economies are likely to slip into recession next year, Morgan Stanley said, but the United States could narrowly escape it thanks to a resilient labor market. At the same time, China’s expected reopening after nearly three years of COVID-19 restrictions will lead to a recovery in its … Read more