News

(Bloomberg) -- South Korea’s unemployment rate rose to the highest level in more than three years as the number of jobs dropped, offering further evidence of an economy shaken by a martial-law row and a deadly airline crash.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesThe seasonally adjusted jobless rate jumped to 3.7% in December from 2.7% in the previous month, hitting th

(Bloomberg) -- Forecasters expect a monthly report on US consumer prices to show a fifth month of firm increases, bolstering the case for an extended pause in Federal Reserve interest-rate cuts.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesThe so-called core consumer price index, which excludes food and energy, is seen rising 0.3% in December alongside a 0.4% advance in the

(Bloomberg) -- Concerns that oil sanctions will curtail supplies from Russia and Iran are upending the oil market’s usual price patterns in the US Gulf Coast market, home to the country’s largest oil refining hub. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesThe price of low-quality heavy oil, which usually trades at a discount to lighter Permian crude, is strengthening on

Devastating fires in the Los Angeles area are likely to put modest pressure on the U.S. national economy in the near term but are unlikely to derail strong forward momentum, economists say. “The L.A. wildfires are shaping up to be the costliest climate disaster in U.S. history, which stems both from their size and the high value of the residential real estate they are destroying,” said J.P. Morgan economist Abiel Reinhart. Noting estimates placing the economic damage cost in the quarter-trillion-dollar range and outstripping the cost of Hurricane Katrina, Reinhart said “we think the short-term effect on national GDP growth, employment, and inflation will be small.”

BUENOS AIRES (Reuters) -Argentina's central bank will slow the rate of the local peso's devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation. Beginning in February, the rate, known as the crawling peg, will slow to 1% per month from a prior rate of 2% due to "the consolidation observed in the inflationary trajectory during the last few months, and in the expectations of a decrease in inflation," the central bank said in a statement. Investors say the slower crawling peg for the peso could prolong a market rally that has been fueled by the pro-market policies of President Javier Milei and hopes for fresh IMF funds.

(Bloomberg) -- US President-elect Donald Trump’s vow to impose 25% tariffs on imports from Canada — a threat that has been looming for more than a month — is finally starting to disrupt Canada’s oil industry.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesCanadian crude prices and shares of the country’s producers had largely shrugged off the danger of an energy trade war sinc

(Bloomberg) -- Argentina’s central bank announced it will slow the pace of the peso’s controlled depreciation to 1% a month starting in February after fresh inflation data paved the way for the policy change. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesTuesday’s move marks President Javier Milei’s first shift in the currency policy, known as a crawling peg, in more than a