UPDATE 1-Australia's property recovery remains in-house as rest of economy struggles to motor on

* Rate cuts boost housing market, but signs bleak elsewhere * Mortgage approvals jump in July, auction clearance rates solid * Retail sales contract, business & consumer sentiment slip * Markets expect two more RBA rate cuts by early 2020 to 0.5% (Adds picture available) By Swati Pandey SYDNEY, Sept 16 (Reuters) – When Michael Jiang scored a liquor licence […]

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Pound US dollar exchange rate: GBP/USD soars to its highest levels since July

This follows House of Common’s Speaker John Bercow’s vow to stop Prime Minister Boris Johnson breaking the law and pushing through a no-deal next month. Mr Bercow said: “If we come close to [Johnson ignoring the law], I would imagine parliament would want to cut off that possibility. Neither the limitations of the existing rulebook or ticking of the clock will […]

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Friday's retail sales could be murky because of last month's Amazon Prime Day

Amazon's Prime Day distorted government sales data in July, and it could do so again in August, according to Bank of America Merrill Lynch economists. The consensus forecast for Friday's retail sales report is 0.2%, but the BofA economists expect a decline, based on the aggregate sales data from Bank of America credit and debit cards. Last month, the economists […]

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Jobless claims fall to nearly 5-month low of 204,000 around Labor Day holiday

The numbers: The number of people who applied for unemployment benefits around Labor Day fell sharply to a nearly five-month low of 204,000, an extremely low reading that was likely exaggerated by the holiday and possibly Hurricane Dorian. Initial jobless claims, a rough way to measure layoffs, dropped 15,000 to 204,000 in the seven days ended Sept. 7, the government […]

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EXPLAINER -How does negative rate policy work?

Sept 11 (Reuters) – U.S. President Donald Trump has suggested that the U.S. Federal Reserve drive interest rates into negative territory. He says his motivation was to refinance the U.S. government’s $22 trillion in outstanding debt and lengthen the amount of time over which it is repaid. Negative rate policy is something Fed officials have downplayed as appropriate in the […]

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Ahead of election year, more Americans lack health insurance, incomes stall

WASHINGTON (Reuters) – The share of Americans without health insurance rose for the first time in a decade last year and U.S. household income hardly budged, according to a government report on Tuesday that laid bare issues that could be central to the U.S. presidential election next year. In a closely watched annual release of survey data detailing healthcare and […]

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Ahead of election year, more Americans lack health insurance, incomes stall

WASHINGTON (Reuters) – The share of Americans without health insurance rose for the first time in a decade last year and U.S. household income hardly budged, according to a government report on Tuesday that laid bare issues that could be central to the U.S. presidential election next year. In a closely watched annual release of survey data detailing healthcare and […]

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U.S. job growth slows more than expected; wages, hours pick up

WASHINGTON (Reuters) – U.S. job growth slowed more than expected in August, with retail hiring declining for a seventh straight month, but strong wage gains should support consumer spending and keep the economy expanding moderately amid rising threats from trade tensions. The Labor Department’s closely watched monthly employment report on Friday also showed a rebound in the workweek as manufacturers […]

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