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US labor market shrugs off recession fears; keeps Fed on tightening path

Nonfarm payrolls increase 263,000 in November Unemployment rate steady at 3.7%; participation rate falls Average hourly earnings rise 0.6%; up 5.1% year-on-year WASHINGTON, Dec 2 (Reuters) – US employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve …

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As the Fed plans to ‘raise and hold,’ new projections may show the cost

WASHINGTON, Dec 2 (Reuters) – New US Federal Reserve projections, issued later this month alongside an expected half-point interest rate increase, could show the central bank’s target rate headed toward levels last seen on the eve of the 2007 financial crisis, and will also reveal policymakers’ best guess of the fallout that will have for …

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Blackstone’s $69 bln REIT curbs redemptions in blow to property empire

NEW YORK, Dec 1 (Reuters) – Blackstone Inc (BX.N) limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge in redemption requests, an unprecedented blow to a franchise that helped it turn into an asset management behemoth. The curbs came because redemptions hit pre-set limits, rather than Blackstone …

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Wall Street mixed; Dow pressured by selloff in Salesforce shares

Salesforce drops on co-CEO exit plan Dollar General falls on slashing annual profit view US manufacturing shrinks for the first time in 2-1/2 years in Nov Indexes: S&P 500 -0.09%, Nasdaq +0.14%, Dow -0.59% Dec 1 (Reuters) – Wall Street was mixed on Thursday as a selloff in Salesforce weighed on the Dow, while traders …

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Fed’s Powell: Rate hikes to slow, but adjustment just beginning

Nov 30 (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the United States States remain chronically short of workers. In …

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Dow dips ahead of Powell speech; Nasdaq kept afloat by growth stocks

Tesla up as sales in China nearly doubled in November – data Fed Chair Powell’s speech at 1330 ET (1830 GMT) US private payrolls growth slows in November – ADP Dow down 0.47%, S&P off 0.13%, Nasdaq up 0.26% Nov 30 (Reuters) – Wall Street was mixed on Wednesday, with the Dow and S&P 500 …

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The yuan’s the new dollar as Russia rides to the redback

Russia turns to the Chinese currency amid sanctions Moscow becomes No. 4 offshore trading center for yuan Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports the trend but warns of risks This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine …

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Crypto lender BlockFi files for bankruptcy in New Jersey

Filing follows weeks after FTX collapse FTX listed as BlockFi’s No. 2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Major cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection along with eight affiliates, it said on Monday, the latest cryptocurrency to follow the spectacular collapse of the FTX exchange …

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