Page 40 - Eco News Today

A look at the day ahead in U.S. and global markets from Mike Dolan

Ten hours of meetings with Chinese officials helped stabilize the rocky relationship, the treasury secretary said.

British companies were the most upbeat about their trading prospects in 10 months in June and their hiring plans increased again but rising interest rates could prompt consumers to rein in spending, according to a survey published on Sunday.

Quitting doesn’t pay like it used to. The raises Americans earn from switching jobs is shrinking, narrowing their advantage in wage gains versus job-keepers. That stands to reduce inflation, as companies benefit from lower costs when snagging new employees. While it’s happened without mass layoffs, weaker pay gains signal that the labor market’s balance of power is shifting back to businesses.

U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticized the world's second-largest economy for its recent harsh actions against U.S. companies and new export controls on some critical minerals.

Levi Strauss & Co cut its annual profit forecast on Thursday, in a sign that higher costs were weighing on the denim clothing maker's margins as it struggles with falling sales at its wholesale channels in North America.

U.S. job growth slowed more than expected in June after surging in the prior month, but labor market conditions remain tight, with the unemployment rate retreating from a seven-month high and fairly strong wage gains continuing.

Japan's nominal base salary grew at the fastest pace in 28 years in May, government data showed on Friday, adding fuel to the debate over when the central bank will unwind its ultra-loose monetary stimulus.

British house prices fell last month in annual terms at the fastest rate in 12 years and soaring interest rates are likely to herald more weakness in the housing market, mortgage lender Halifax said on Friday.

Chinese banks are facing increasing risks from rising non-performing loans (NPLs) and diminishing returns, making them a lightning rod for investors' worries about the world's second-largest economy.