Rep. Jim Jordan won the nomination Friday to be speaker of the U.S. House of Representatives after launching a fresh bid for the position, as analysts warned that the process of finding a replacement for former Speaker Kevin McCarthy was preventing the Republican-run chamber from addressing crucial matters. Jordan, an…

By Joe Cash, Liangping Gao and Ellen Zhang BEIJING (Reuters) – China released a mixed batch of economic data on Friday showing a slump in exports and imports was gradually easing, but lingering deflationary pressures underlined the challenges policymakers face in trying to engineer a stronger economic recovery. China’s policy…

President Joe Biden on Friday touted the selection of seven regional projects that will receive a total of around $7 billion in federal funding to build out hydrogen hubs, which are key for meeting climate goals. “I’m here to announce one of the largest advanced manufacturing investments in the history…

By Andrea Shalal MARRAKECH, Morocco (Reuters) – World Trade Organization chief Ngozi Okonjo-Iweala said she hoped the Israel-Hamas conflict could be ended quickly, warning it would have a “really big impact” on already weak global trade flows if it widened throughout the region. Okonjo-Iweala, in Morocco for this week’s annual…

By Tom Sims and John O’Donnell FRANKFURT (Reuters) – German Chancellor Olaf Scholz is facing fresh demands to stem a property crisis in Europe’s largest economy after a recent summit aimed at rescuing the sector disbanded in acrimony. The nation’s ailing building industry will present the chancellor with a new…

Many borrowers with subprime credit have been paying 17% to 22% rates on new auto loans this year as the Federal Reserve’s inflation fight takes a toll on lower-income households. That borrowing range reflects the average cost, or annual percentage rate, for a loan in recent subprime auto bond deals,…

By Kantaro Komiya TOKYO (Reuters) – Japan’s core inflation likely stayed above the central bank’s 2% target for an 18th straight month in September, although consumer prices probably rose at their slowest in more than a year, a Reuters poll showed. The Bank of Japan (BOJ) will scrutinise the price…

Treasury yields broadly jumped on Thursday after hotter-than-expected headline inflation from the September consumer-price index had traders boosting the chances of a December rate hike by the Federal Reserve.What happened The yield on the 2-year Treasury BX:TMUBMUSD02Y rose 6.6 basis points to 5.069% from 5.003% on Wednesday, after touching an…

SHANGHAI/SINGAPORE (Reuters) – China’s central bank is expected to keep borrowing costs unchanged but ramp up liquidity support when it rolls over 500 billion yuan ($68.44 billion) worth of medium-term policy loans on Monday, a Reuters survey of market watchers showed. The People’s Bank of China (PBOC) is walking a…

China’s headline inflation was flat in September, weighed by a steep drop in pork and vegetable prices as well as high base effects. The consumer price index was flat on year, compared with a 0.1% rise in August, the National Bureau of Statistics said on Friday. The reading was below…