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Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
Boeing's board removed CEO Dennis Muilenburg as chairman amid the fall out of two 737 Max crashes that killed 346 people.Aerospace & Defenseread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread more
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities.China Economyread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The number of Americans filing new claims for unemployment benefits unexpectedly fell to a fresh three-month low last week, suggesting a strengthening in labor market conditions.
Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 315,000, the Labor Department said on Thursday. That was the lowest reading since late November. Claims for the week ended March 1 were revised to show 1,000 more applications received than previously reported.
Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 330,000 in the week ended March 8. The four-week moving average for new claims, considered a better measure of underlying labor market conditions as it irons out week-to-week volatility, fell 6,250 to 330,500, the lowest level since early December.
A Labor Department analyst said no states were estimated. Unseasonably cold weather has slowed job growth in recent months, but the labor market is showing signs of shaking off winter's icy grip.
Nonfarm payrolls increased 175,000 in February. They had risen 129,000 in January and gained 84,000 in December. Economists expect job gains to accelerate in March as temperatures warm up. The claims report showed the number of people still receiving benefits after an initial week of aid fell 48,000 to 2.86 million in the week ended March 1. That was the lowest level since December.
A separate report showed U.S. import prices rose more than expected and recorded their largest gain in a year in February as petroleum soared, but there was little sign of a broad pick-up in imported inflation.
The Labor Department said import prices increased 0.9 percent last month, the biggest rise since February last year. January's import prices were revised to show a 0.4 percent increase rather than the previously reported 0.1 percent gain.
Economists polled by Reuters had forecast import prices rising 0.4 percent in February. In the 12 months through February, import prices fell 1.1 percent, indicating overall imported inflation remained subdued. Import prices excluding petroleum rose 0.2 percent in
February after advancing 0.4 percent the prior month. Compared to February last year, they were down 0.6 percent. Petroleum prices rose 4.4 percent, the largest rise since August 2012.
The Labor Department report also showed export prices increased 0.6 percent in February, the largest rise in a year. That followed 0.2 percent rise in January. In the 12 months through February, export prices fell 1.3 percent.