Tag Archives: North America

Australia, the New Zealand dollar regained ground as the domestic economy was running strong | Instant News


SYDNEY, May 5 (Reuters) – The Australian and New Zealand dollars bounced back on Wednesday as surprising strength in local economic data showed that the United States is not the only country where upward pressure on interest rates is increasing.

The Aussie edged up to $ 0.7734, after touching a three-week low of $ 0.7675 overnight as the US dollar got a broad boost from talk of future US interest rate hikes.

The kiwi dollar strengthened to $ 0.7173 and moved away from the $ 0.7116 trough, which now marks major chart support.

That was helped by data showing New Zealand’s unemployment rate unexpectedly fell to 4.7% in the March quarter, when analysts expected it to stay at 4.9%.

“Today’s report is a good read, and confirms the strength of the Kiwi economy,” said Jarrod Kerr, chief economist at Kiwibank. “The economic damage from the Covid lockdown is much less than anyone expected six months ago.”

Kerr doubts this alone will shift the Reserve Bank of New Zealand (RBNZ) away from its dovish policy outlook, but the economy is clearly outperforming better than expected.

“The tighter the labor market, the more pressure is on wage growth. And wage inflation is not as easily stopped by the Reserve Bank as inflation is caused by temporary supply disruptions, “he added.

Investors responded by increasing the yield on the 10-year bond to 1.74%, the highest since mid-April.

In Australia, the surprise came in the agreement to build new homes that ruled out forecasts for a 17.4% rise in March, confirming a big boom is underway.

Approvals to build new homes rose a staggering 61% on the previous year at a record peak, while the value of commercial buildings also hit an all-time peak.

The building boom is likely to have a big impact on jobs and spending and should make the Reserve Bank of Australia (RBA) more confident in the economy after raising its forecasts on Tuesday.

“The RBA managed to surprise us, raising all the major forecasts more than we expected,” said Prashant Newnaha, senior interest rates strategist for Asia-Pacific at TD Securities.

He now doubts the RBA will shift its target bond for yield curve control from the current April 2024 line to the November 2024 issue.

But it is likely to announce the third tranche of A $ 100 billion bond purchases in July, if only because the Fed is not expected to mark a decline in purchases by then. (Edited by Sam Holmes)

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Goldman Sachs employees in the US, UK will return to office in the summer | Instant News


(Reuters) -Goldman Sachs Group Inc asked US-based employees to return to office jobs in mid-June and in the UK to return in mid-July, according to a memo seen by Reuters.

“We know from experience that our culture of collaboration, innovation and internships thrives when our people get together,” Goldman Chief Executive David Solomon wrote in the memo, which was verified by a bank spokesman.

The New York-based investment bank has nearly 40,000 employees worldwide. The push to return to office gained momentum in March when Solomon said the bank had an obligation to its 5,400 interns, analysts and associates to have most of its employees work with one another directly.

Wells Fargo & Co said in March it would begin bringing workers back to its offices after Labor Day, while JPMorgan Chase & Co said last week it was targeting a rotational return of workers to offices starting in July.

Reporting by Niket Nishant in Bengaluru; Edited by Lisa Shumaker

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Comfort Cases UK Launched to Promote Hope and Dignity to Children in Care in the UK | Country | Instant News


ROCKVILLE, Md., 3 May 2021 / PRNewswire-PRWeb / – Comfort Case is the leading organization in United States of America which provides a new backpack or duffle bag filled with new comfort and personal care items for teens entering the parenting system. Has provided resources to more than 100,000 children in United States of America (including Washington DC and Puerto Rico) since its founding in 2013, Comfort Case has now expanded to great Britain, today launched the UK Comfort Cases (https://othingcasesuk.org/)

With more than 97,000 children Foster Care throughout great Britain (English, Scotland, Wales and Northern Ireland), the need to provide this important resource to children is increasing.

“Since the discovery of the Case of Comfort in 2013, I have seen the tremendous and wonderful impact we have on these children,” said Rob Scheer, founder of Comfort Cases. “Usually, children are given trash bags (or trash cans) to store their belongings when sent to a new orphanage. This has been going on since I was alone in the orphanage more than 30 years ago. We are working to end it. here while providing essentials for the first days of a child in an orphanage in the US and are now very excited to bring Case of Comfort to those in need at great Britain. “

The #nomorebinbags campaign started in 2018 in the UK. “We looked at what Rob and Comfort Case have accomplished in the US and know that we need to provide similar resources to our children here in the UK,” said Sarah’s deputy, The Case of Comfort CEO UK. “Nearly one in five children aged 12-15 who recently entered care has two or more house transfers a year – that means packing their entire life and getting to know a new group of caregivers every few months. It’s no surprise that we read the report from Care. Leavers, who describe themselves as ‘like a’ parcel ‘being moved.’ By launching Comfort Cases UK, we will do our best to give these children the hope and dignity they deserve. “

Main statistics regarding the UK foster system:

  • Currently, more than 100 children will enter the care system today by tending their belongings in trash bags or plastic shopping bags.
  • More than half of the children treated will have at least 1 move within 3 years
  • More than a third of children enter the system of care aged 4 years and under
  • Nearly two thirds of the children treated are 10-18 years old
  • Across the UK, there was a 26% increase in children aged 13-17 entering care from 2012 to 2018

A Comfort Case is packed with age-appropriate comfort and personal care items, which may include:

  • Backpack or small rucksack
  • New pajamas
  • Blanket
  • Toothbrush and toothpaste
  • Soap and / or body wash
  • Stuffed animals
  • Book

“Having worked with children in a certain capacity for most of my adult life, I have a strong affiliation with youth care and protection,” said Laster. “That children may perceive themselves as less valuable or less important than others, just because they are victims of their circumstances inspires me to take action. As one of the founders of” You Donate We Deliver “, I have seen firsthand the power of will. both human and community spirit After receiving the Light Points Award from the Prime Minister Boris Johnson, the team is aware that we may not be able to change the system, but we can unite in acts of humanity and kindness. Comfort Cases UK is a natural progression for our team, and I am determined to show the thousands of children being cared for in the UK that they feel valued and loved. “

About the Convenience Case:

Comfort Cases is a 501 (c) 3 non-profit organization with a mission to inspire the community to bring dignity and hope to youth entering orphanages. Since 2013, we have distributed more than 100,000 Comfort Suitcases and Comfort XL backpacks to children in foster care systems in all 50 states, Washington, DC and Puerto Rico. We are golden level Guidestar participants, demonstrating our commitment to transparency.

Comfort Case is based in Rockville, MD.

Comfort Case UK is based in Shenley, Hertfordshire, England, United Kingdom.

Media Contact

David Thalberg, Stryker-Munley Group, +1 9179522580, [email protected]

SOURCE UK Leisure Case

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Australia, NZ dlrs are stable in trading caution before central bank meeting | Instant News


SYDNEY, May 3 (Reuters) – The Australian dollar was steady against the US currency during Monday’s quiet session, ignoring strong domestic jobs data as traders were cautious ahead of this week’s central bank meeting, while the kiwi dollar also held on. .

The Aussie was unchanged at $ 0.7713, after rising 1.5% last month thanks to stronger iron ore and other commodity prices.

“A $ remains undervalued given the metal’s continued boom,” Westpac said. “We see this as temporary and only a matter of time before paving the way for a move to 0.80 onwards.”

The New Zealand dollar was also only 0.05% higher at $ 0.7163, taking a break after gaining 2.5% in April.

The kiwi has support around $ 0.7050, which traders say could be tested given the potential for the US currency to attract more bids this week, as the world’s largest economy releases a large ticket manufacturing survey and April labor market figures.

On the day, the dollar held on to its recent gains as investors cautioned earlier in the week and looked for clues about the outlook for global inflation, and the response of policymakers.

Federal Reserve Chair Jerome Powell will address Monday and will be joined by a number of Fed officials this week. Central bank policy meetings are also scheduled this week in Australia, UK and Norway.

In Australia, data on Monday showed national house prices posted another solid increase in April, while job advertisements rose to their highest level since 2008 and rose nearly 200% the previous year as the lockdown pandemic shut down many industries.

Investors expect the Reserve Bank of Australia (RBA) on Tuesday to maintain its very supportive policy setup at its monthly interest-rate meeting.

Traders will also look to Australia’s RBA deputy governor Guy Debelle speech on Thursday for insight into the bank’s thinking around the bond-buying outlook.

The Australian government yield on the 10-year bond was little changed at 1.70%, and that on the same maturity one tick lower at 98.29.

The yield on New Zealand government bonds was up 2 basis points at 1.70%.

Edited by Shri Navaratnam

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G7 to see a quick response mechanism against Russian ‘propaganda’, said Britain’s Raab | Instant News


LONDON (Reuters) – The Group of Seven of the richest nations will look at proposals to establish a rapid response mechanism to counter Russian “propaganda” and disinformation, British Foreign Minister Dominic Raab told Reuters.

FILE PHOTO: British Foreign Minister Dominic Raab wears a protective mask during a meeting with US Secretary of State Antony Blinken in Brussels, Belgium April 14, 2021. REUTERS / Johanna Geron / Pool

Speaking ahead of the G7 foreign ministers’ meeting in London, the first face-to-face meeting in two years, Raab said Britain was “inviting the G7 to come together with a rapid rebuttal mechanism” to counter Russia’s misinformation.

“So that when we see these lies and propaganda or fake news being disseminated, we can – not only individually, but unite to give rebuttals and frankly give the truth, to the people of this country but also in Russia or China or around the world,” Raab said.

Russia and China are trying to sow mistrust in the West, either by spreading disinformation in elections or by spreading lies about the COVID-19 vaccine, according to British, US and European security officials.

Russia denies interference outside its borders and says the West is gripped by anti-Russian hysteria. China says the West is a bully and that its leaders have a post-imperial mindset that makes them feel they can act like global police.

Britain has identified Russia as the biggest threat to its security despite viewing China as its biggest long-term challenge, militarily, economically and technologically.

Raab will meet US Secretary of State Antony Blinken on Monday, kicking off a week of diplomacy aimed at reviving the role of the G7 and forging a broader stronghold against those deemed undermining the rules-based international order.

“The scope of intense global cooperation, international cooperation with our American partners, and even the broader G7 we are holding this week has never been greater,” said Raab.

He stressed that face-to-face meetings – something that is only possible because of steps such as participants’ daily exams – would make diplomacy easier: “You can only do so much with Zoom.”

The G7 members are Britain, the United States, Canada, France, Germany, Italy and Japan and their combined gross domestic product is around $ 40 trillion – slightly less than half of the global economy.

RUSSIA-CHINA

British and US officials have expressed concern in recent months about the growing strategic cooperation between Russia, the world’s largest country by area, and China, the world’s fastest-growing major economy.

Asked about the concerns, Raab said: “What matters most to us is that we expand an international caucus of like-minded countries that defend open societies, human rights and democracy, which stand for open trade.”

He said many of those allies wanted to “find out how this pandemic started.” The coronavirus outbreak, which started in China in late 2019, has killed 3.2 million people and cost the world trillions of dollars in lost production.

Raab said some of the barriers between the G7 and other like-minded countries needed to be broken down so that there could be a wider network of allies defending open markets and democracy.

Britain has invited India, Australia and South Korea to attend this week’s meeting, which runs from Monday to Wednesday, and the full leaders’ summit in June.

Asked if Britain could seek to join a separate group known as the Quad – the United States, Japan, Australia and India – Raab said there were no concrete proposals yet, but that Britain was looking for ways to get more involved in the Indo-Pacific.

Written by William James and Guy Faulconbridge Editing by Susan Fenton and Frances Kerry

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