U.S. existing home sales increased for the first time in a year in February as a decline in prices on an annual basis pulled buyers back into the market, further evidence that the housing market was stabilizing at low levels. Existing home sales surged 14.5% to a seasonally adjusted annual rate of 4.58 million units last month, the National Association of Realtors said on Tuesday.
Ukrainian parliament voted on Tuesday to amend the 2023 state budget, raising spending by a record amount as Kyiv seeks additional funds for arms and military salaries following Russia's invasion. Lawmakers voted to increase budget spending by 537.2 billion hryvnias this year, the finance ministry said.
This month's U.S. banking system turmoil and renewed recession worries have left global investor confidence at one of the lowest levels in the last 20 years, and that does not even account for this week's demise of Credit Suisse.
New research reveals motivators and challenges for future business owners WALTHAM, Mass. When asked how they would respond if a recession impacted their jobs this year, one in three American workers said they would actively seek to supplement their income by starting a side hustle while maintaining their current job.
* * SNB expected to hike rates by 50 bps on Thursday - Reuters poll. * Markets split on 25 bps or no hike for BoE on Thursday - IRPR. * Norges Bank seen hiking by 25 bps on Thursday - Reuters poll. By Joice Alves.
Canada's annual inflation rate cooled more than expected in February, as a drop in gas prices and softer growth in shelter costs helped bring the consumer price index to its lowest level since January 2022, Statistics Canada data showed on Tuesday. The annual inflation rate dropped to 5.2% in February, beating economists' forecast that it would fall to 5.4% from 5.9% in January.
France started tapping into its strategic fuel reserves, the government said on Tuesday, amid strikes by workers at refineries and depots that have stunted production and blocked deliveries. "The ministry has been ensuring the release of strategic reserves in a targeted way since the start of March," the energy ministry told reporters on Tuesday.
German investor sentiment tumbled in March as concerns about a new financial crisis ended a five-month streak of consecutive increases, the ZEW economic research institute said on Tuesday. The institute's index assessing the outlook for the economy over the next six months fell by 15.1 points to a reading of 13.0 in March, below the 17.1 forecast of analysts polled by Reuters.
* March reading of 13.0 vs expected 17.1. * Ends five-month streak of increases. * Uncertainty over banks reflected in dip. German investor sentiment tumbled in March as concerns about a new financial crisis ended a five-month streak of consecutive increases, the ZEW economic research institute said on Tuesday.
The U.S. banking system is stabilizing after strong actions from regulators, but further steps to protect bank depositors may be warranted if smaller institutions suffer deposit runs that threaten more contagion, U.S. Treasury Secretary Janet Yellen plans to tell bankers on Tuesday.
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