SAO PAULO (Reuters) -Brazil Finance Minister Fernando Haddad on Friday said the country is about to enter a downward cycle of interest rates, pointing out that inflation is “more behaved.” “We are about to.. have a downward cycle of interest rates. Inflation is more behaved,” Haddad said in an interview with local broadcaster GloboNews. “Long-term …
Brazil’s Haddad argues country is ready for interest rate cuts Read More »
WASHINGTON (Reuters) – The U.S. Department of Labor said on Friday it was providing up to $653 million in grants to state governments to help safeguard against fraud by updating their unemployment insurance (UI) information technology infrastructure. It said in a statement that $600 million in grants would also assist with improving service delivery. The …
US Labor Department providing $653 million to help states upgrade UI systems Read More »
(Reuters) – Uruguayan fintech dLocal, the South American country’s first unicorn, saw its shares plummet on Friday, after Argentine news outlet Infobae published an article saying the government was investigating it for a possible fraud of at least $400 million. Citing unnamed official sources, Infobae said the Argentina government was investigating the fintech for “improper …
Report of Argentina fraud probe sinks shares in dLocal Read More »
By David Lawder DETROIT (Reuters) -The International Monetary Fund said on Friday U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs to tighten fiscal policy to bring down its federal debt. The IMF said in a statement issued after its “Article IV” review of U.S. policies that …
IMF says U.S. should tighten fiscal policy to help cut persistent inflation Read More »
NEW YORK (Reuters) – U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could see the Federal Reserve keeping interest rates higher for some time. The Commerce Department said on Friday that the personal consumption expenditures (PCE) price index increased 0.4% …
Instant view: Stubborn US April PCE inflation revives focus on June Fed hike Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month. The growth picture was further brightened by other data from the Commerce Department on …
Strong US consumer spending, inflation readings put Fed in tough spot Read More »
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s new home prices will see a slower growth this year, according to a Reuters poll, suggesting pent-up demand after the country’s economic reopening is fading though a slew of stimulus policies boosted confidence. New home prices are expected to rise 1.4% year-on-year in 2023, slowing …
China new home prices growth to narrow in 2023: Reuters poll Read More »
By Mike Dolan LONDON (Reuters) – Britain’s interest rate horizon skyrocketed this week on another alarming inflation reading that some fear entrenches the economy as outlier among Western peers – and yet the pound didn’t know whether to laugh or cry. Unlike its dire reaction to UK bond market ructions surrounding last September’s government budget …
Column-Sterling caught between rate spike and gilt rupture: Mike Dolan Read More »
By Shankar Ramakrishnan and Nell Mackenzie (Reuters) -A measure of U.S. default risk is flashing red as talks over the government’s debt ceiling drag on, with speculation driven by the lure of a quick profit inflating the value of the derivative, market strategists and investors said. Spreads on U.S. government one-year credit default swaps (CDS) …
US credit default swaps flash default warning and speculators rush in Read More »
By Navya Mittal and Himanshi Akhand (Reuters) -Australia’s Latitude Group on Friday forecast a steep fall in fiscal 2023 earnings due to higher credit losses and provisions associated with a recent cyberattack, sending its shares nearly 10% lower. The company, which provides credit cards and personal loans for some of Australia’s biggest retailers, said in …
Latitude Group flags sharp drop in earnings due to cyberattack, shares fall Read More »
