Reuters US Economy

NEW YORK (Reuters) – The U.S. Treasury Department on Wednesday said regulators should weigh new guidance or rules aimed at curbing financial risks from nonfungible tokens, or NFTs, a type of digital asset it deemed highly prone to fraud. WHY IT’S IMPORTANT NFTs, blockchain-based images, videos, music or text, surged in popularity during the coronavirus …

US Treasury says regulators should consider NFT guidance, given fraud risks Read More »

BUENOS AIRES (Reuters) – Argentine analysts expect the country’s central bank to again cut its benchmark interest rate following a bond tender set for Wednesday that is worth billions of dollars and signs that sky-high inflation could slow again this month. Analysts expect a 10-percentage-point cut that would bring the rate down to 30% from …

Argentina market analysts see chance of another rate cut Read More »

By Valerie Volcovici WASHINGTON (Reuters) – The Biden administration on Wednesday proposed expanding tax credits that have for years boosted U.S. solar and wind energy projects to cover a wider range of clean energy technologies including nuclear fission and fusion. The Treasury Department announced its guidance for Clean Electricity Production Credits and Clean Electricity Investment …

Biden administration expands tax credits beyond wind, solar Read More »

By Jonathan Saul LONDON (Reuters) – The growing shadow fleet of tankers transporting sanctioned Iranian, Venezuelan and Russian oil is filling up with the cheapest fuel available, hindering industry efforts to use cleaner fuel to cut shipping emissions, according to shipping data and sources. The global shipping industry is under increasing pressure to use cleaner …

Growing armada shipping sanctioned oil burns dirty fuel in a setback for clean-up efforts Read More »

A look at the day ahead in European and global markets from Kevin Buckland Soaring bond yields continued to unnerve equity investors on Wednesday, with benchmark U.S. Treasuries pushing further above 4.5% in Tokyo hours and their Japanese counterparts hitting levels not seen since 2011. Concerns that stubborn inflation will keep interest rates high for …

Morning Bid: Soaring yields sour sentiment Read More »

By Khanh Vu HANOI (Reuters) – Vietnam’s annual inflation rate edged up to 4.44% in May, official data showed on Wednesday, nearing the government’s target ceiling of 4.5% for the year and a potential challenge to efforts to boost credit growth to drive activity. The Southeast Asian country, a regional industrial hub, also reported strong …

Vietnam inflation rises in May, nears government limit Read More »

By Stella Qiu SYDNEY (Reuters) -Australian consumer price inflation unexpectedly picked up to a five-month high in April due in part to increases in petrol, health and holiday costs, bolstering expectations that interest rates would not be lowered any time soon. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price …

Australia inflation quickens to 5-month high, sounding rate alarm Read More »

By Saadeq Ahmed TORONTO (Reuters) – Canada’s government and the province of Ontario struck a C$357 million deal on Tuesday to allocate federal funds to build affordable housing in the country’s most populous province to help alleviate a housing crisis after Ontario provided a revised action plan outlining its goals. Canada currently faces a housing …

Canada, Ontario in deal for affordable housing amid soaring home costs Read More »

By Jorge Otaola and Lucila Sigal BUENOS AIRES (Reuters) -Argentina’s financial markets dipped on Tuesday after libertarian President Javier Milei, traveling on a U.S. tech tour, shook up his Cabinet, firing his chief of staff and bringing on board the architect of his government’s key economic reform package. The financial markets, which have rallied hard …

Argentina markets dip as globetrotter Milei shakes up Cabinet Read More »