IMF says US inflation data 'higher than we would like'
WASHINGTON (Reuters) - The International Monetary Fund on Thursday views recent U.S. inflation data as "overall higher than we would like to see" and is urging the Federal Reserve to stay cautious and remain data-dependent when deciding monetary po...
10h ago
US Supreme Court backs consumer finance watchdog agency's funding mechanism
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday upheld the Consumer Financial Protection Bureau's funding mechanism in a challenge brought by the payday loan industry, handing a victory to President Joe Biden's administration an...
10h ago
LATAM Airlines expands frequency of Brazil international flights; Air France adds route
By Gabriel Araujo SAO PAULO (Reuters) - LATAM Airlines will increase the frequency of seven of its international routes connecting Brazil to the United States and countries in Europe and Africa, it said on Thursday. The move by Chile-based LATAM, w...
10h ago
German experts lower their tax revenue forecasts for 2024-28
By Maria Martinez BERLIN (Reuters) - Germany's council of tax experts expects 80.7 billion euros ($87.7 billion) less in total tax revenue in the 2024-2028 period compared with its October forecast, projections on Thursday showed. For the federal ...
12h ago
Dow hits 40,000 on earnings boost, rate cut bets: Instant View
NEW YORK (Reuters - The Dow Jones Industrial Average surpassed 40,000 points for the first time on Thursday, the blue-chip index's fastest 10,000 point-climb, powered by strong quarterly results and rising bets of interest rate cuts by the Federal...
12h ago
Exclusive-Turkish vice president Yilmaz sees inflation reprieve, with full Erdogan backing
By Nevzat Devranoglu, Birsen Altayli and Jonathan Spicer ANKARA (Reuters) -Turkish Vice President Cevdet Yilmaz said he expects savings from the government's new efficiency plan to outstrip estimates as it continues the fight against inflation this sum...
12h ago
Exclusive-US to favor existing investors for Venezuela oil licenses, say sources
By Marianna Parraga and Daphne Psaledakis HOUSTON/WASHINGTON (Reuters) - The U.S. is preparing to prioritize issuing limited licenses to operate in Venezuela to companies with existing oil production and assets over those seeking to enter the sanct...
12h ago
FAA allows United Airlines to restart certification activities
(Reuters) - United Airlines said on Thursday the U.S. Federal Aviation Administration has permitted the carrier to restart its certification activities, including new aircraft and routes. The airline's certification activities were suspended after ...
12h ago
Adidas shareholders re-elect chairman Thomas Rabe
(Reuters) -A majority of Adidas shareholders backed the re-election of chairman Thomas Rabe at the company's annual general meeting on Thursday, securing his role for a fifth year, with the German sportswear brand set to appoint a successor in 2025. Pr...
12h ago
Goldman Sachs strikes deal to manage $43.4 billion UPS pension fund assets
(Reuters) -Goldman Sachs Asset Management has been appointed the outsourced chief investment officer for $43.4 billion North American pension fund assets belonging to parcel delivery firm UPS. As part of this appointment, the UPS in-house investment ma...
12h ago
US bars imports from 26 cotton manufacturers over Uyghur forced labor
WASHINGTON (Reuters) -The United States blocked imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the U.S. supply chain. The companie...
12h ago
Dow briefly sprints past 40,000-mark on earnings boost, rate-cut bets
(Reuters) - The Dow Jones Industrial Average briefly breached the 40,000-point level for the first time on Thursday, the blue-chip index's fastest 10,000-point climb, powered by strong quarterly results and rising bets of interest-rate cuts by the ...
12h ago
Labor Department accidentally released some inflation data early on Wednesday
(Reuters) - A subset of key and highly sensitive U.S. inflation data was inadvertently published about 30 minutes ahead of its scheduled release on Wednesday, the Bureau of Labor Statistics said, and a full investigation to the latest data-manageme...
13h ago
Major brokerages retain US rate-cut view after soft inflation data
(Reuters) - Top global brokerages have retained their expectations for when the U.S. Federal Reserve will lower interest rates this year, after softer-than-expected inflation data boosted hopes of a soft landing for the economy. J.P. Morgan and Gol...
15h ago
ECB not in a hurry to cut rates, should take measured steps after June, Kazaks says
PORTOROZ, Slovenia (Reuters) - The European Central Bank is likely to cut interest rates in June but the bank is not in a hurry to ease policy, so subsequent moves could be spaced out to give time for assessment, ECB policymaker Martins Kazaks said...
15h ago
Johnson & Johnson to acquire Proteologix for $850 million
(Reuters) - Johnson & Johnson on Thursday said it would acquire privately held Proteologix for $850 million in cash, with potential for an additional milestone payment. (Reporting by Sriparna Roy in Bengaluru; Editing by Anil D'Silva)
15h ago
ECB's Centeno sees lower interest rates soon, no word on June decision
LISBON (Reuters) - Euro zone inflation is in a sustained decline towards 2% and the European Central Bank's interest rates will certainly start diminishing, ECB policymaker Mario Centeno said on Thursday, declining to predict whether it will happen...
15h ago
Lufthansa offers short-haul compromise for ITA deal, sources say
By Foo Yun Chee, Ilona Wissenbach and Angelo Amante BRUSSELS/FRANKFURT/ROME (Reuters) - Lufthansa has offered to keep some competing ITA short-haul routes in an effort to secure EU antitrust approval for its bid for a stake in the Italian airline, ...
15h ago
ECB's rates framework may discourage money-market lending - Nagel
FRANKFURT (Reuters) - The European Central Bank's new interest rates framework may discourage money-market lending because banks will find it cheaper to tap the ECB, policymaker Joachim Nagel said on Thursday. The ECB wants to wean banks off free c...
15h ago
Walmart lifts full-year sales and profit forecast, shares rally
(Reuters) -U.S. retail giant Walmart raised its fiscal 2025 sales and profit forecast on Thursday, betting on easing inflation to further boost demand for essentials and bring a rebound in sales of discretionary products like electronics. Shares of the...
15h ago
Under Armour forecasts annual sales below estimates
(Reuters) - Apparel maker Under Armour forecast its annual revenue below analysts' expectations on Thursday, signaling soft demand for its sportswear in the U.S. as consumers cut back on discretionary spending in the face of sticky inflation. The c...
15h ago
South Korea urges better cooperation on supply chain with China
SEOUL (Reuters) - South Korea's finance minister on Thursday said Seoul and Beijing should seek better economic cooperation on the supply chain for raw materials. "We should lead global industries by cooperating on supply chain and technologies acr...
16h ago
Exclusive-Chevron prepares for North Sea exit after more than 55 years
By Ron Bousso LONDON (Reuters) - Chevron is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years. The process comes as Chevron...
16h ago
Exclusive-Fed's Williams welcomes inflation data, not ready to seek rate cuts
By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of New York President John Williams welcomed the arrival of softer consumer inflation data, he told Reuters, but said that positive news is not enough to call for the U.S. central bank t...
16h ago
Transcript of interview with New York Fed's Williams
By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of New York President John Williams was interviewed by Reuters on Wednesday. The following transcript has been edited for clarity: MICHAEL DERBY: We speak today on a day where we got so...
16h ago