The slowdown in job creation in October was welcome news because it brought the labor market into “a more balanced” and sustainable growth, said Chicago Fed President Austan Goolsbee, on Tuesday. “The job market is getting into better balance. So far the slowdown is what you would want, is what…

The Eurozone economy is facing a potential recession, with a contraction of 0.1% in its Q3 GDP on a sequential basis. This decline marks the first non-pandemic related contraction since 2013. Despite weak consumer spending, positive household income trends and slight increases in household interest costs hint at a possible…

The Consumer Financial Protection Bureau proposed a new rule Tuesday that would require Big Tech companies that offer payment services — think Apple Pay or PayPal — to submit to supervisory examinations typically reserved for large banks. CFPB Director Rohit Chopra said in a statement that these payment services “are…

In a move to facilitate crucial discussions with the International Monetary Fund (IMF), Islamabad’s Finance Ministry will stay open on November 09, 2023, despite it being a public holiday, Iqbal Day. A directive from the Secretary Finance has necessitated officer attendance for these pre-scheduled IMF meetings. The talks are centered…

Clothes, iPhones and TVs made in China have long made the Asian giant the biggest supplier of foreign-made goods to American consumers. No longer. A steady increase in imports from Mexico during the past decade have made the southern border the biggest hotspot in global trade. Mexico has doubled its…

By Abhirup Roy and Akash Sriram (Reuters) -Rivian Automotive raised its production forecast for the full year by 2,000 vehicles to 54,000 units on the back of sustained demand for its trucks and SUVs on Tuesday, sending its shares up 4% in volatile after-hours trading. Rivian (NASDAQ:)’s upbeat forecast is…

The Biden administration is walking a fine line by encouraging U.S. businesses to derisk — diversify supply chains from China — while trying to not antagonize Beijing or limit U.S. commercial opportunities. Even with China’s many problems — including real-estate debt bubbles, waning investor and consumer confidence and the paradox of a declining labor force with record youth…

By Mike Dolan LONDON (Reuters) – If the notorious ‘term premium’ is evaporating again, then last month’s bond rout may just have been a nightmare. But it may require monitoring Treasury and Congress as much as the Federal Reserve to make sure it is not a recurring dream. After a…

It’s Election Day in the U.S. But given that it’s an off year — meaning we’re not voting for the president or for members of the U.S. House or Senate — what can we expect in terms of turnout? A fairly weak showing, at least judging from recent history. But…

FRANKFURT (Reuters) -Germany’s Commerzbank (ETR:) said on Wednesday that net profit more than tripled in the third quarter, better than expected and helped by higher interest rates, as it presented a strategy update. Net profit of 684 million euros ($730.72 million) in the quarter compared with a profit of 195…