Reuters US Economy

(Reuters) – The business environment for German carmakers and their suppliers improved noticeably in March, a survey published by the Ifo economic institute showed on Wednesday. Ifo’s business climate indicator for the sector rose from -9.9 in February to -5.8 points, the highest value since May 2023. “The German automotive industry now seems to have …

German business sentiment for automakers improves in March, Ifo says Read More »

SANTIAGO (Reuters) – Chile’s central bank cut its benchmark interest rate on Tuesday by 75 basis points to 6.50%, in a unanimous decision by its governing board, saying the rate would likely be reduced further. The cut is in line with forecasts in a traders’ poll last week, which also predicted that the bank will …

Chile central bank cuts key rate to 6.5%, sees more easing Read More »

By Rajesh Kumar Singh and Abhijith Ganapavaram CHICAGO (Reuters) -General Electric on Tuesday completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable U.S. corporation and a global symbol of American business power. The industrial giant’s aerospace and energy businesses began trading on the New York …

GE completes three-way split, breaking off from its storied past Read More »

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday she continues to expect the central bank will be able to cut rates this year and noted the June policy meeting might be when the easing kicks off if the data allows it. “If the economy evolves …

Fed’s Mester says it’s possible data may support June rate cut Read More »

By Promit Mukherjee OTTAWA (Reuters) -Prime Minister Justin Trudeau on Tuesday launched a C$6 billion ($4.42 billion) Canada Housing Infrastructure Fund to accelerate the construction and upgrading of housing. WHY IT’S IMPORTANT Canada faces a housing affordability crisis as a rapidly increasing immigrant population has far outpaced the number of available homes, leading to increases …

Canada launches $6 billion housing fund in bid to quell housing crisis Read More »

By Bernardo Caram BRASILIA (Reuters) – Brazil’s central bank has asked the government for a 20.4% increase in its 2024 discretionary budget, a letter seen by Reuters on Tuesday showed, arguing that a lack of funds would bear operational and security risks. The monetary authority sent the letter to Brazil’s Planning Ministry in March requesting …

Brazil central bank asks government for 20% budget increase this year Read More »

TOKYO (Reuters) – Former Bank of Japan (BOJ) Governor Haruhiko Kuroda told an informal panel that recent yen declines were excessive, and that there was a possibility authorities could intervene in the currency market, the Nikkei newspaper reported on Tuesday. Kuroda also said the yen was expected to rebound in the medium- to long-term, the …

Ex-BOJ chief Kuroda sees recent yen falls as excessive, Nikkei says Read More »

By Shariq Khan and Laura Sanicola (Reuters) – Gasoline prices for U.S. motorists could jump by as much as 15 cents a gallon, with global fuel supplies tighter after Ukraine’s recent attacks on Russian refineries, Patrick De Haan, petroleum analyst at GasBuddy.com said on Monday. WHY IT’S IMPORTANT Rising gasoline prices could hinder the U.S. …

US pump prices set to climb on Russian refinery outages Read More »