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Pace of future Fed hikes depends on data, no evidence inflation subsiding, July minutes show

The Federal Reserve Board building on Constitution Avenue is pictured in Washington, US, March 27, 2019. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com register WASHINGTON, Aug 17 (Reuters) – Federal Reserve officials said last month that the pace of future interest rate increases would hinge on incoming data, with some saying …

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US retail sales flat on gasoline price drop; consumer spending resilient

People shop for clothes at a Target retail chain in Westbury, New York, US, May 20, 2021. REUTERS/Shannon Stapleton/File Photo Register now for FREE unlimited access to Reuters.com register retail sales unchanged in July; June sales revised down Gasoline, motor vehicles account for flat sales Core retail sales increase 0.8% WASHINGTON, Aug 17 (Reuters) – …

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EXCLUSIVE Biden’s emergency board calls for railroad wage hikes to resolve contract talks

US President Joe Biden walks to Air Force One as he departs for Washington, DC, from Joint Base Charleston, South Carolina, US, August 16, 2022. REUTERS/Joshua Roberts Register now for FREE unlimited access to Reuters.com register WASHINGTON/LOS ANGELES, Aug 16 (Reuters) – US President Joe Biden’s emergency board tasked with helping major freight railroads and …

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US housing starts near 1-1/2-year low; factory output rebounds

Housing starts drop 9.6%; building permits fall 1.3% Single-family starts tumble 10.1%; permits drop 4.3% Housing construction backlog rises 5.0% Manufacturing production rebounds 0.7% WASHINGTON, Aug 16 (Reuters) – US homebuilding fell to the lowest level in nearly 1-1/2 years in July, weighed down by higher mortgage rates and prices for construction materials, suggesting the …

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Explainer: How could the new US corporate minimum tax affect companies?

Aug 12 (Reuters) – The main revenue source in the new US tax, climate and drugs bill is a novel 15% corporate minimum tax aimed at stopping large, profitable companies from gaming the Internal Revenue Service code and slashing their tax bills to zero. The US House of Representatives was scheduled to vote on Friday …

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Five Chinese state-owned companies to delist from NYSE amid US tensions

SHANGHAI/HONG KONG, Aug 12 (Reuters) – Five Chinese state-owned companies, including oil giant Sinopec (600028.SS) and China Life Insurance (601628.SS), said on Friday they would delist from the New York Stock Exchange, amid economic and diplomatic tensions with the United States. The companies, which also include Aluminum Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and …

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US gasoline prices fall below $4 for first time since March

Gasoline demand has waned in the summer Lower-income households spending less as prices dip US retail price hit a record in June Aug 11 (Reuters) – The average price of US retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest …

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US productivity posts biggest ever annual drop in second quarter

Aug 9 (Reuters) – US worker productivity in the second quarter fell at its steepest pace on an annual basis since 1948 when the Labor Department began tracking it, while growth in unit labor costs accelerated, suggesting strong wage pressures will continue to help keep inflation elevated. Nonfarm productivity, which measures hourly output per worker, …

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US okays first Boeing 787 Dreamliner delivery since ’21 -sources

The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, US, August 7, 2019. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com register WASHINGTON, Aug 8 (Reuters) – The US government on Monday approved the first Boeing (BA.N) 787 Dreamliner for delivery since 2021, clearing …

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US labor market defies recession fears as job growth surges in July

Nonfarm payrolls increase 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring …

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