(Reuters) – Canada plans to amend its competition laws to enable the regulator to act against anti-competitive mergers in the grocery sector, as the government steps up efforts to battle rising food prices. Canadian Prime Minister Justin Trudeau on Thursday said he had summoned the heads of Canada’s top grocers to Ottawa next week to …
Canada plans to amend competition laws to control rising food prices Read More »
By Alexander Marrow (Reuters) – The Russian rouble strengthened sharply on Friday ahead of an interest rate decision by the central bank that could see the cost of borrowing rise again to help shore up the currency and cope with stubborn inflationary pressure. The central bank hiked by 350 basis points to 12% a month …
Russian rouble climbs as market awaits rate decision Read More »
By Anne Kauranen HELSINKI (Reuters) -Finland’s economic downturn will last longer than expected, driven by weaker export demand and a rapid slowdown in construction activity in the face of high interest rates, the Bank of Finland said on Friday. The Finnish economy is in mild recession and will contract 0.2% this year, the bank said, …
Finnish economy burdened by weak export demand and construction woes Read More »
By Lisa Baertlein LOS ANGELES (Reuters) – Cargo volume at the Port of Los Angeles jumped from July to August after business lost during the now-finished West Coast labor talks began returning, the top executive at the nation’s busiest ocean trade gateway said on Thursday. That data comes as seaports on the U.S. West Coast …
Port of Los Angeles says cargo lost during West Coast talks is returning Read More »
By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank (BCRA) decided to hold the benchmark interest rate steady at 118% during their last board meeting, despite the country’s inflation rate hitting an over 30-year high in August. August inflation data published on Wednesday showed annual inflation running at over 124%, with the monthly rate at …
Argentina holds interest rate steady despite inflation spike Read More »
By Noel Randewich and Ankika Biswas (Reuters) -The S&P 500 ended higher on Thursday as hotter-than-expected economic data eased worries about a recession without raising fears of a Federal Reserve rate hike next week, while Arm Holdings soared in its stock market debut. SoftBank’s Arm was valued at nearly $60 billion in a strong Nasdaq …
Wall Street ends higher on economic data; Arm soars in debut Read More »
FRANKFURT, Sept 14 (Reuters) – The European Central Bank raised its key interest rate to a record peak on Thursday and signalled this will likely be its final move in a more-than year-long fight against stubbornly high inflation. Following are highlights of ECB President Christine Lagarde’s comments at a news conference after the policy meeting. …
By Leigh Thomas PARIS (Reuters) – The French government aims to squeeze 16 billion euros ($17 billion) in savings from its 2024 budget, finance minister Bruno Le Maire said on Thursday as he trimmed France’s growth outlook. Le Maire said 10 billion euros in savings would come from scrapping caps on power and gas prices, …
France targets 16 billion euros in savings next year, trims growth outlook Read More »
By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices above $90 a barrel in the United States stirred worries that inflation could rise further in an economy where the Federal Reserve has already hiked interest rates steeply to control rising prices. Higher oil prices are a burden on global economies, raising costs for transportation and …
US crude prices above $90/bbl ignite inflation worries Read More »
By Muyu Xu SINGAPORE (Reuters) – Appetite for Iranian crude is growing in China, the world’s biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions. Although China’s “teapots”, or small independent refiners, are stocking up on …
China’s ‘teapot’ refiners mop up swelling Iranian crude, defying U.S. curbs Read More »
