After COVID revenue collapse, Canadian municipalities face insurance premium spike
Canadian municipalities reeling from a pandemic-driven hit to revenues are facing an added blow from surging liability insurance costs, forcing them to raise property taxes or even cut services for residents.
JPMorgan’s profit more than doubles despite trading slump
JPMorgan Chase & Co (JPM.N) reported a 155% jump in profit on Tuesday, getting a boost from the release of loss reserves and a surge in dealmaking, even as the largest U.S. bank dealt with a sharp slowdown in trading activity from last year’s record-breaking levels.
Nasdaq hits record high as growth stocks rise; inflation data weighs
The Nasdaq index reversed early declines to hit a record high on Tuesday, helped by a rise in growth-linked megacap stocks and as earnings season kicked off on a positive note, while a solid rise in consumer prices in June weighed on sentiment.
U.S. consumer prices post largest gain in 13 years
WASHINGTON, July 13 (Reuters) – U.S. consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum. With used cars and trucks accounting for more than one-third of the surge in prices reported […]
BlackRock CEO calls for stronger climate finance plan at G20 meet
BlackRock (BLK.N) Chief Executive Larry Fink on Sunday called for governments to develop a stronger long-term climate finance plan to unlock the private capital needed to fund the transition to a low-carbon economy.
Vietnam’s VinFast starts operations in North America and Europe
Vietnam’s first domestic car manufacturer, Vinfast, said on Monday it has opened offices in North America and Europe, joining a crowded field of players seeking to woo customers with smart electric cars.
Asia shares bounce as mood shifts, sentiment fickle
Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
Virus variants threaten global recovery, G20 warns
An upsurge in new coronavirus variants and poor access to vaccines in developing countries threaten the global economic recovery, finance ministers of the world’s 20 largest economies warned on Saturday.
Analysis: China’s RRReminder that economies remain fragile
China’s decision on Friday to give its economy a 1 trillion yuan ($154 billion) shot in the arm has given investors a reminder that even the largest economies are likely to need the occasional pick-me-up while the coronavirus pandemic lasts.
Analysis: Falling U.S. bond yields may signal death knell for ‘reflation’ stock trade
Stock investors are watching the dramatic moves in the Treasury market for clues on the fate of one of this year’s most successful plays – the so-called reflation trade that helped power shares of economically sensitive companies higher after nearly a decade of underperformance.
