WASHINGTON—The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove “transitory” and likely not require a fast rise in interest rates. However, the U.S. central bank nodded to global supply difficulties as…
UK Businesses Will Be Forced to Publish Net Zero Plans
Companies in the UK will be required to publish plans of decarbonising and transitioning to net zero, Chancellor of the Exchequer Rishi Sunak told COP26 on Wednesday. Speaking at the global climate summit in Glasgow, Sunak said the new mandate is part of the UK’s plan to become “the first ever net zero aligned financial centre.”…
US Factory Orders Unexpectedly Rise in September
WASHINGTON—New orders for U.S.-made goods unexpectedly rose in September, though manufacturing remains constrained by input shortages. The Commerce Department said on Wednesday that factory orders increased 0.2 percent in September. Data for August was revised down to show orders rising 1.0 percent instead of 1.2 percent as previously reported. Economists polled by Reuters had forecast…
US Service Sector Index Hits Record High in October; Shortages Worsening: ISM Survey
November 3, 2021
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WASHINGTON—A measure of U.S. services industry activity surged to a record high in October likely as declining COVID-19 cases boosted demand, but businesses remained burdened by snarled supply chains and the resulting exorbitant prices. The Institute for Supply Management said on Wednesday its non-manufacturing activity index vaulted to a reading of 66.7 last month. That…
American Employers Hired 571,000 Workers in October, Beating Estimates: ADP
Private sector employment in the United States rose by 571,000 positions in October, well above consensus forecasts of 395,000, according to Nov. 3 payroll data from the Automatic Data Processing (ADP) Research Institute. “The labor market showed renewed momentum last month, with a jump from the third quarter average of 385,000 monthly jobs added, marking nearly…
US Employers Hired 571,000 Workers in October, Beating Estimates: ADP
Private sector employment in the United States rose by 571,000 jobs in October, well above consensus forecasts of 395,000, according to Nov. 3 payroll data from the Automatic Data Processing (ADP) Research Institute. “The labor market showed renewed momentum last month, with a jump from the third quarter average of 385,000 monthly jobs added, marking nearly…
Spain’s Labour Market Shows Resilience Despite End of Summer Season
MADRID—Spain’s labour market remained resilient in October, official data showed on Wednesday, with joblessness edging lower and job creation surging in a month usually marked by rising unemployment at the end of the summer tourist season. The hospitality sector led job creation, accounting for just over 25,000 of the 102,474 positions added over the month,…
Wall Street Opens Flat as Focus Shifts to Fed’s Taper Decision
November 3, 2021
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U.S. stock indexes opened flat on Wednesday as investors refrained from making big bets ahead of the conclusion of a Federal Reserve meeting, where policymakers are widely expected to signal the withdrawal of its pandemic-era support. The Dow Jones Industrial Average rose 6.46 points, or 0.02 percent, at the open to 36,059.09. The S&P 500…
Wall Street Mixed as Focus Shifts to Fed’s Taper Decision
November 3, 2021
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U.S. stocks indexes traded mixed in a narrow range on Wednesday as investors looked ahead to the Federal Reserve’s widely expected move to signal the withdrawal of its pandemic-era support, while Activision Blizzard slid on a leadership change. Six of the 11 major S&P sectors fell, with energy and industrials declining the most. The banking…
Euro Zone Unemployment Eases to 7.4 Percent in September as Expected
BRUSSELS—Euro zone unemployment eased to 7.4 percent of the workforce in September as expected, the EU’s statistics office said on Wednesday, as the economy continues to recover from the recession caused by the COVID-19 pandemic. The statistics office said 12.079 million people were without jobs in the 19 countries sharing the euro in September, compared…
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