Morning Bid: China ‘bazooka’ fizzles, dollar on the march
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Markets in Asia appear to lack clear direction at the open on Wednesday, with investors still…
Economy
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Google parent Alphabet’s AI spending boosts cloud business, ad sales
By Deborah Mary Sophia and Kenrick Cai (Reuters) – Google parent Alphabet (NASDAQ:GOOGL) topped third-quarter revenue and earnings expectations on Tuesday, helped by an AI-driven 35% surge in its cloud…
UK finance minister Reeves to hand military $3.9 billion in budget boost, Telegraph reports
(Reuters) – British finance minister Rachel Reeves will hand the UK government’s armed forces a funding boost of almost 3 billion pounds ($3.90 billion) in the Oct. 30 budget, the…
Safran in major engine repair capacity expansion as demand soars
By Tim Hepher BRUSSELS (Reuters) -French jet engine maker Safran (EPA:SAF) set out plans on Tuesday to invest more than 1 billion euros ($1.1 billion) and hire 4,000 people worldwide…
Consumer confidence jumps as election uncertainty takes surprise backseat
Investing.com — US consumer confidence surged to the highest level since 2021 in October, taking some by surprise as a robust jobs market and falling gas prices overshadowed the usual drag…
Bank of Canada says it will cut rates further if economy meets forecasts
OTTAWA (Reuters) – The Bank of Canada will be able to cut interest rates again to support demand and keep inflation on target if the economy evolves broadly in line…
Yellen says tailoring bank rules helpful, but strong capital requirements important
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday that it was important to continue tailoring the complexity and severity of banking regulations to the activities of institutions…
China’s Xi urges govt officials to push for reform, meet targets
BEIJING (Reuters) – Chinese President Xi Jinping urged senior provincial government officials to “pool their strength” to pursue the country’s reform goals, the official Xinhua news agency reported on Tuesday.…
Fed seen on track for quarter-point rate cuts in Nov, Dec
(Reuters) – Federal Reserve policymakers are nearly certain to deliver a quarter-point reduction in short-term borrowing costs next week, traders bet on Tuesday, as a U.S. Labor Department report showed…
Federal Reserve to cut rates by 25 basis points at next two meetings- Reuters poll
By Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will cut its key interest rate by 25 basis points on Nov. 7, according to all 111 economists in a…