Reuters US Economy

BRASILIA (Reuters) – Brazil’s central bank chief, Roberto Campos Neto, indicated on Monday the improvement in market conditions is paving the way for a shift in monetary policy, while more benign inflation has increased investor bets for earlier interest rate cuts. Speaking at an event hosted by IDV, a group that brings together major retailers …

Brazil’s market conditions open door to monetary policy shift, central bank chief says Read More »

(Reuters) – The U.S. budget deficit swelled in May from a year earlier as revenue tumbled and Medicare spending surged, the Treasury Department said on Monday in its first monthly accounting of the government’s finances since a deal was reached to suspend the debt limit and avoid a first-ever federal default. The May deficit shot …

US budget deficit mushrooms in May as revenue falls, Medicare outlays jump Read More »

By Hernan Nessi BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate likely sped up to 8.8% in May, according to analysts polled by Reuters, as prices in the South America country continue to soar despite a cooling trend in other countries around the region. Argentina is battling soaring inflation likely to end the year near …

Argentina inflation seen speeding up in May, bucking regional trend Read More »

By Sam Nussey TOKYO (Reuters) -The CEO of ChatGPT maker OpenAI on Monday said a tour of capital cities had left him “quite optimistic” about prospects for global coordination on artificial intelligence (AI). The public face of the startup, backed by Microsoft Corp, has been on a whirlwind tour looking to capitalise on interest in …

OpenAI CEO says ‘optimistic’ on global AI coordination Read More »

LONDON (Reuters) – JPMorgan said on Monday it expects Turkey’s central bank to hike interest rates to 25% from the current 8.5% at its June meeting, adding this could come with forward guidance suggesting smaller hikes ahead if needed. June 22 is the first scheduled policy meeting after Hafize Gaye Erkan was appointed as central …

JPMorgan expects Turkey central bank to lift rates to 25% on June 22 Read More »

By Ludwig Burger (Reuters) – Novartis has agreed to acquire Seattle-based biotech firm Chinook Therapeutics for up to $3.5 billion to boost its late-stage drug development line-up with a new treatment for a rare severe kidney disease. The transaction, in the form of a merger of a newly formed Novartis subsidiary and Chinook, is expected …

Novartis to buy Chinook for up to $3.5 billion in boost to late-stage pipeline Read More »

BUENOS AIRES (Reuters) – Analysts polled by Argentina’s central bank forecast annual inflation this year at 149%, above the 126% expected in the previous poll, according to the monthly survey released on Friday. For May, the analysts polled expect prices to have risen 9% in the month. Inflation in April was 8.4%, according to Argentina’s …

Argentina inflation seen hitting 149% this year, up from previous poll Read More »