Economic News
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U.S. House tees up vote on Biden's $1.9 trillion COVID-19 relief plan
WASHINGTON (Reuters) - The U.S. House of Representatives moved on Friday toward a late-night vote on President Joe Biden's $1.9 trillion coronavirus aid bill, as Democrats who narrowly control the chamber steered the sweeping measure toward approval.
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Fiscal stimulus fires up U.S. consumer spending; inflation benign
WASHINGTON (Reuters) - U.S. consumer spending increased by the most in seven months in January as the government doled out more pandemic relief money to low-income households and new COVID-19 infections dropped, positioning the economy for faster growth in the first quarter.
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Airline CEOs urge White House support for greener aviation fuel
WASHINGTON (Reuters) - The CEOs of American Airlines, United Airlines and Delta Air Lines and other airline officials met virtually with White House officials Friday to discuss tackling aviation pollution and urge U.S. support for greener aviation fuel.
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Wall Street Week Ahead: Investors weigh new stock leadership as broader market wobbles
NEW YORK (Reuters) - A shakeup in stocks accelerated by the past week's surge in Treasury yields has investors weighing how far a recent leadership rotation in the U.S. equity market can run, and its implications for the broader S&P 500 index.
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G20 promises no let-up in stimulus, sees tax deal by summer
ROME/BRUSSELS (Reuters) - The world's financial leaders agreed on Friday to maintain expansionary policies to help economies survive the effects of COVID-19, and committed to a more multilateral approach to the twin coronavirus and economic crises.
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U.S. urban office market, stung by pandemic, hopes tech firms drive comeback
NEW YORK (Reuters) - The growing footprint in New York of major tech companies like Amazon.com Inc, Facebook Inc and Alphabet Inc's Google has given property owners and brokers hope that once the coronavirus has been conquered demand for office space will quickly return to pre-pandemic levels.
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Exclusive: European officials urge World Bank to exclude fossil-fuel investments
WASHINGTON (Reuters) - Senior officials from Europe have urged the World Bank's management to expand its climate change strategy to exclude investments in oil- and coal-related projects around the world, and gradually phase out investment in natural gas projects, according to three sources familiar with the matter.
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IMF to propose ways to improve transparency of trade in SDR currency reserve
WASHINGTON (Reuters) - The International Monetary Fund on Friday said it would propose ways to improve the transparency and accountability of how its Special Drawing Rights are used, a key U.S. demand for its support of a new issuance of the IMF's own currency.
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UK's Sunak warns of bill to be paid to tackle Britain's 'exposed' finances - FT
(Reuters) - British finance minister Rishi Sunak will use the budget next week to level with the public over the "enormous strains" in the country's finances, warning that a bill will have to be paid after further coronavirus support, according to an interview with the Financial Times.
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Canada sticking to stimulus plan despite debt rumblings, sources say
TORONTO/OTTAWA (Reuters) - Canada's C$100 billion ($79 billion) stimulus plan is justified by the economic hole caused by the COVID-19 pandemic, government sources said, as analysts warned Ottawa against racking up too much debt and making investments that fail to boost growth.
