Coloradans borrowing at a high rate to make ends meet

Colorado residents are turning to credit cards and personal loans at the second-highest rate in the country as they struggle to make it through the pandemic, a study from LendingTree reports. About 42.1% of Colorado residents surveyed had borrowed money the past seven days to meet immediate expenses, according to the most recent U.S. Census […]

Australia eases lending laws to boost coronavirus-hit economy; bank shares surge

SYDNEY (BLOOMBERG) – Australia’s government will loosen responsible lending laws in a bid to boost the flow of credit and help the economy recover from its first recession in almost 30 years. Bank shares surged. As part of a sweeping overhaul, the government will scrap so-called responsible lending obligations for most forms of credit that […]

COLUMN-If only. Is above-target inflation wishful thinking? :Mike Dolan

(The author is editor-at-large for finance and markets at Reuters News. Any views expressed here are his own) LONDON, Sept 23 (Reuters) – Few doubt the willingness of central banks to tolerate periods of above-target inflation in future, as per the U.S. Federal Reserve’s new strategy of averaging its inflation goal over time — but […]

UPDATE 2-Argentine new bonds fall sharply as investor jitters rise

(Adds comments from Morgan Stanley note) BUENOS AIRES, Sept 21 (Reuters) – Argentine newly issued international bonds are once more on the slide as investors price in rising risks over the country’s economic recovery and much-needed reforms following tightened capital controls last week. The new bonds, issued at the start of the month after a […]

Shell on big cost-cutting drive as it prepares to shift gears

LONDON • Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters. Shell’s new cost-cutting review, known internally as Project […]

Resurgent virus seen as biggest threat to euro zone economy

BENGALURU • The resurgence in coronavirus cases is the biggest threat to the recovering euro zone economy, according to a Reuters poll of economists, who say growth and inflation are more likely to create negative surprises over the coming year than positive ones. Around 30 million people have been infected by the virus globally, and […]

Japan consumer prices fall at fastest pace in four years

TOKYO • Japan’s core consumer prices fell at their fastest pace in almost four years last month, dragged down mostly by government-sponsored discounts for domestic travel aimed at supporting the battered tourism sector. The weak consumer price data comes after Bank of Japan governor Haruhiko Kuroda said on Thursday it would monitor not just price […]

Federal aid impasse heightens U.S. muni market credit risk -analysts

CHICAGO, Sept 18 (Reuters) – A political deadlock over a new round of federal aid will elevate credit risk in the $3.9 trillion U.S. municipal bond market as states, cities and other debt issuers struggle with steep revenue losses due to the coronavirus pandemic, analysts said on Friday. No agreement is on the horizon between […]

Australian unemployment unexpectedly drops as hiring surges

SYDNEY (BLOOMBERG) – Australian unemployment unexpectedly fell in August as government and central bank stimulus allowed the economy’s recovery to withstand Victoria’s renewed lockdown. The jobless rate dropped to 6.8 per cent from 7.5 per cent in July against economists’ median estimate of an increase to 7.7 per cent, data from the statistics bureau showed […]