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FRANKFURT (Reuters) – The Bundesbank cut its growth projections for the German economy on Friday and predicted sharply higher inflation, as soaring food and fuel prices sap households’ purchasing power and batter confidence. The German central bank now sees prices rising by 7.1% in 2022, well above the 3.6% projected in December while the 2023 …

Bundesbank halves 2022 growth forecast, doubles inflation projection for Germany Read More »

By Susan Mathew (Reuters) -European shares extended losses to a fourth session on Friday, as market participants braced for May U.S. inflation data that could guide the Federal Reserve’s policy decision next week. All sectors were trading well in negative territory, with banks weighing the most on the pan-European STOXX 600 index, which lost 1.3%. …

European shares slide over 1% ahead of U.S. inflation data Read More »

(Reuters) – Spanish national consumer prices rose 8.7% year-on-year in May, up from 8.3% in April, with core inflation hitting its highest since 1995, official data showed on Friday. The National Statistics Institute data confirmed a preliminary report late last month. It showed fuel prices had increased 15% year-on-year, with prices of food and non-alcoholic …

Spanish core inflation at its highest since 1995, INE says Read More »

(Reuters) – Air New Zealand Ltd on Friday improved its forecast for fiscal 2022, benefiting from a pick-up in demand following the opening up of domestic and international borders. New Zealand recently said it would fully reopen its international borders from end-July, and the country welcomed travelers from trans-Tasmanian neighbor Australia for the first time …

Air New Zealand raises annual earnings forecast on improved demand Read More »

By Carolina Mandl NEW YORK (Reuters) – Bridgewater’s Karen Karniol-Tambour, co-chief investment officer for sustainability, said on Thursday that the U.S. stock market has not yet priced in an economic slowdown in the United States. “Profits are extremely high and it seems very unlikely they can remain this high at unprecedented levels forever,” she told …

U.S. stock market has not priced in economic slowdown yet – Bridgewater co-CIO Read More »

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday she does not think the U.S. economy is going to experience a recession, but gasoline prices were unlikely to fall anytime soon. “I don’t think we’re (going to) have a recession. Consumer spending is very strong. Investment spending is solid. I expect growth to …

Yellen says U.S. recession unlikely, but no drop in gasoline prices soon Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks sold off sharply Thursday as investor anxiety heightened ahead of data on Friday that is expected to show consumer prices remained elevated in May. Selling picked up toward the end of the session. Mega-cap growth stocks led the drop, with Apple Inc and Amazon.com Inc falling …

Wall St drops as investor jitters climb before CPI data Friday Read More »

(Reuters) – Goldman Sachs maintained its $6.80/$5.60 Henry Hub and 89/86 EUR/MWh TTF Sum22/Win22-23 price forecasts after the Freeport LNG outage, noting that the duration of the outage would be key. “If the outage at the facility lasts less than one month, its net impact on U.S. gas balances is likely mostly offset by the …

Goldman maintains natgas price forecast, awaits more information about Freeport LNG outage Read More »

By Julie Gordon and David Ljunggren OTTAWA (Reuters) -Hot inflation is the Bank of Canada’s primary focus as it raises interest rates, a senior central bank official told Reuters on Thursday, making it clear that the bank was willing to accept a housing market correction in order to curb consumer price gains. Senior Deputy Governor …

Bank of Canada says inflation to dictate rate moves, not housing prices Read More »

By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department (USDOT) on Thursday proposed minimum standards and requirements for electric vehicle (EV) charging projects funded under a $5 billion government program. The rules would require government-funded EV charging stations use DC Fast Chargers and have at least four ports capable of simultaneously charging four EVs …

U.S. proposes standards for fast electric vehicle charging projects Read More »