India's central bank cuts rates by 25 bps as expected

MUMBAI, Oct 4 (Reuters) – The Reserve Bank of India on Friday cut interest rates for a fifth straight meeting, stepping up efforts to kickstart economic growth languishing at six-year lows. The RBI maintained its “accommodative” stance and said it would maintain this position “as long as it is necessary” to revive growth, while ensuring inflation remains within target. The […]

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WRAPUP 1-U.S. weekly jobless claims rise slightly; layoffs still low

* Weekly jobless claims increase 4,000 to 219,000 * Four-week average of claims unchanged at 212,500 * Continuing claims fall 5,000 to 1.65 million By Lucia Mutikani WASHINGTON, Oct 3 (Reuters) – The number of Americans filing applications for unemployment benefits rose marginally last week, suggesting the labor market remains strong even as employers are becoming more cautious about hiring […]

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India's factory growth in September remains at weakest level in over a year

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, was 51.4 in September, unchanged from August. While it has been above the 50-mark that separates growth from contraction for over two years, the growth rate in September and August was the slowest since May 2018. Growth in India's manufacturing sector remained weak in September and forward looking indicators in […]

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McConnell to Trump: China trade war has been 'very tough on American agriculture'

The U.S.-China trade war has been "very tough" on American farmers, says Senate Majority Leader Mitch McConnell. "I hope we can get a conclusion to this sometime soon because rural America really needs it," says the Kentucky Republican. McConnell also says rural America would benefit if Congress passed the White House's replacement of the North American Free Trade Agreement. Senate […]

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U.S. consumer spending slows; business investment weak

WASHINGTON (Reuters) – U.S. consumer spending barely rose in August and business investment remained weak, suggesting the economy was losing momentum as trade tensions linger. Still, the reports on Friday from the Commerce Department likely do not signal a recession is looming as consumer spending remains supported by solid income growth, thanks to the lowest unemployment rate in nearly 50 […]

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UPDATE 1-Brazil's unemployment rate 11.8%, halts recent decline

(Adds detail) By Jamie McGeever BRASILIA, Sept 27 (Reuters) – Brazil’s unemployment rate held steady at a 11.8% in the three months through August, statistics agency IBGE said on Friday, suggesting the gradual but steady improvement in the labor market seen in recent months has stalled. Persistently high unemployment and weak wage growth have been major factors behind the economy’s […]

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Russia's bid to ditch the US dollar is slowly working, but obstacles remain

Since 2013, the Central Bank of Russia (CBR) has been trying to reduce the number of transactions conducted in U.S. dollars, either for domestic payments or foreign trade. In an effort to insulate the Russian economy from U.S. sanctions, the Kremlin has made "de-dollarization" a long-term priority, but will be forced to rely on the greenback for some time, according […]

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