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Business Fed Kashkari Michigan month rates 

‘What’s the rush’ on interest rate hikes, asks Fed’s Kashkari

June 27, 2017 By Ann Saphir (Reuters) – With inflation low and wages showing little sign of an upward surge, the U.S. Federal Reserve should not be raising interest rates, Minneapolis Fed President Neel Kashkari said on Tuesday. “What’s the rush?” Kashkari asked at an event at Michigan Technological University in Houghton, Michigan, adding that neither wage nor inflation data is giving any sign that the economy is about to overheat and indeed may suggest that there is still some slack in the labor market. The Fed raised rates twice…

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AXJO Business JPY rates Tokyo 

Japanese stocks approach two-year high, euro sags after Draghi’s comments

June 27, 2017 By Shinichi Saoshiro TOKYO (Reuters) – Japanese stocks closed in on two-year highs early on Tuesday thanks to a weaker yen while the euro sagged against its peers after European Central Bank President Mario Draghi talked up benefits of the ECB’s easy monetary policy. Japan’s benchmark Nikkei advanced 0.4 percent to 20,235.79. A rise above 20,318.11, a peak scaled a week ago, would take the Nikkei to its highest since August 2015. A weaker yen, a boon to export-reliant Japan, usually underpins the Tokyo market as the…

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election Money rates Store Capital Corp Ted Weschler Top News 

Berkshire bulks up in real estate with Store Capital stake

June 26, 2017 By Jonathan Stempel NEW YORK (Reuters) – Berkshire Hathaway Inc has taken a nearly 10 percent stake in the real estate investment trust Store Capital Corp, adding to bets in the sector by the conglomerate controlled by billionaire Warren Buffett. Store, which invests in single tenant properties, said Berkshire’s National Indemnity Co unit spent $377.1 million on 18.62 million shares at $20.25 each, giving it a 9.8 percent stake. The stake was announced four days after Berkshire said it would invest up to C$400 million for a…

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ANZ Baker Hughes Inc Business energy rates 

Oil holds above November lows but under threat from U.S. supply

June 26, 2017 By Amanda Cooper LONDON (Reuters) – Oil edged up for a third straight session on Monday, climbing off last week’s seven-month lows but with gains capped by the relentless rise in U.S. supply and bloated global inventories. Investors in U.S. crude futures and options increased their bets against a further rise in prices, as the number of U.S. oil rigs in operation hit its highest in over three years. [CFTC/] [RIG/U] U.S. shale oil output is up around 10 percent since last year, while places like Brazil…

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bank Business rates report spending 

Stock futures higher as oil prices rebound

June 26, 2017 By Tanya Agrawal (Reuters) – U.S. stock index futures were higher as oil prices rebounded, while investors awaited economic data for a reading on the health of the economy. Oil rose for a third straight session, as speculators took advantage of last week’s drop to seven-month lows, although a relentless increase in U.S. supply and little evidence of a widespread drop in global inventories capped gains. [O/R] The recent drop in oil prices have spurred concerns about low inflation, which stubbornly remains below the Federal Reserve’s 2…

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Economy increase month political rates Top News 

Dollar sags as U.S. yields stay low, rate hike expectations fade

June 26, 2017 By Shinichi Saoshiro TOKYO (Reuters) – The dollar sagged against its major peers on Monday, losing traction as U.S. Treasury yields stayed low amid fading expectations that the Federal Reserve to hike interest rates again later this year. The dollar index against a basket of six major currencies was a fraction lower at 97.239 , adding to Friday’s losses when it fell 0.4 percent. The index had climbed to a one-month peak of 97.871 earlier last week, supported by expectations that the Fed, fresh from a mid-June…

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BIS Business debt Federal Reserve rates 

Push on with the ‘great unwinding’, BIS tells central banks

June 25, 2017 By Marc Jones LONDON (Reuters) – Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way. The BIS, an umbrella body for leading central banks, said in one of its most upbeat annual reports for years that global growth could soon be back at long-term average levels after a sharp improvement in sentiment over the past year. Though pockets of risk remain because…

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Business increase month rates WASHINGTON 

U.S. new single-family home sales rebound in May

June 23, 2017 WASHINGTON, (Reuters) – New U.S. single-family home sales rose in May and the drop in sales in the previous month was not as steep as previously reported, suggesting the housing market has regained steam. The Commerce Department said on Friday new home sales increased 2.9 percent to a seasonally adjusted rate of 610,000 units last month. April’s sales pace was revised up to 593,000 units. Economists polled by Reuters had forecast new home sales, which make up about 10 percent of all home sales, rising 5.4 percent…

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bank Economy political rates Shin Kadota Top News 

Dollar sluggish but firm, oil bounce helps commodity currencies

June 23, 2017 By Shinichi Saoshiro TOKYO (Reuters) – The dollar was little changed on Friday as traders marked time ahead of next week’s U.S. inflation-linked indicators, while commodity currencies such as the Canadian dollar held to gains after crude oil prices bounced. The dollar index against a basket of major currencies was effectively flat at 97.492 . The index peaked at a one-month high of 97.871 on Tuesday after the Federal Reserve hiked interest rates last week and left the door open for further monetary tightening later in the…

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Economy Japan June month Paul Smith rates Top News 

Japan June flash manufacturing PMI shows slight growth slowdown

June 23, 2017 TOKYO (Reuters) – Japanese manufacturing activity slowed in June as new orders grew at the slowest pace in seven months, a preliminary private survey showed on Friday in a sign of a slight weakening in domestic demand. The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 52.0 in June from a final 53.1 in May. The index remained above the 50 threshold that separates expansion from contraction for the 10th consecutive month. “Slower growth was signaled in June, with both orders and…

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