Economy News

China's foreign exchange reserves rose unexpectedly in August, even as the yuan posted its biggest monthly drop in 25 years amid escalating trade tensions with the United States.

The U.S. Federal Reserve will continue to act "as appropriate" to sustain the economic expansion in the world's biggest economy, Fed Chair Jerome Powell said Friday in Zurich, sticking to a phrase that financial markets have read as signalling further interest-rate reductions ahead.

U.S. job growth slowed more than expected in August, with retail hiring declining for a seventh straight month, but strong wage gains should support consumer spending and keep the economy expanding moderately amid rising threats from trade tensions.

White House economic adviser Larry Kudlow said on Friday the United States wants "near term" results from U.S.-China trade talks in September and October but cautioned that the trade conflict could take years to resolve.

Bulgarian economist Kristalina Georgieva was expected to be the only candidate considered to lead the International Monetary Fund as a nomination deadline drew to a close on Friday, two people familiar with the process said.

A tight U.S. labour market and booming demand in industries with an abundance of female workers is drawing more women back into the workforce, helping to shrink the longstanding gap in the labour participation rate between men and women to the narrowest on record.

European Central Bank President Mario Draghi - often credited with single-handedly saving the euro during the worst of its crisis - is expected to perform more magic next week in his penultimate meeting in charge.

When Robert Mugabe was deposed as Zimbabwe's president in 2017, Karen Sundirai was convinced the country would quickly recover from years of economic turmoil and authoritarian rule.

U.S. job growth slowed more than expected in August, reflecting the U.S. trade war with China and raising expectations for a Federal Reserve rate cut this month.