Reuters US Economy

SAO PAULO (Reuters) – Brazil’s Vice President Geraldo Alckmin said on Monday the government needs to convince the country’s central bank that its high interest rate “makes no sense at all.” Alckmin’s comments came days after the central bank’s rate-setting committee, known as Copom, kept interest rates unchanged at 13.75% for the fifth consecutive policy …

Brazil VP wants to convince central bank high interest rate ‘makes no sense’ Read More »

By Steve Scherer OTTAWA (Reuters) – Canada’s budget will introduce a system to lock in future carbon credit prices, a move meant to boost investments by giving businesses certainty to develop low-carbon technologies, a senior government source with knowledge of the document told Reuters on Monday. So-called contracts for difference set a price on tradable …

Exclusive-Canada budget sees contracts for difference for large clean-tech projects -source Read More »

BERLIN (Reuters) -German business morale unexpectedly rose in March, adding to signs that Europe’s largest economy is stabilizing despite recent turmoil in the banking sector, a survey showed on Monday. The Ifo institute said its business climate index jumped to 93.3 from a reading of 91.1 in February. A Reuters poll of analysts had pointed …

German business morale unfazed by banking turmoil Read More »

FRANKFURT (Reuters) – Bank lending to euro zone companies slowed for the fourth straight month as an economic downturn and increased caution from lenders appear to be taking their toll, European Central Bank data showed on Monday. Lending to businesses in the 20 nation currency bloc expanded by 5.7% in February after a 6.1% rise …

Euro zone lending slows again in Feb, ECB says Read More »

JERUSALEM (Reuters) – Israel and the United Arab Emirates on Sunday signed a free trade pact into effect, reducing or removing tariffs on about 96% of goods traded between the nations, Israel’s Foreign Ministry said. The countries first reached the agreement last May, promising to boost bilateral trade after they normalized ties in 2020 in …

Israel, UAE sign free trade pact into effect Read More »

LIMA (Reuters) – Peru’s government expressed qualified interest in tapping the international bond market later this year in a bid to better manage liabilities, Economy Minister Alex Contreras said on Friday. The government might turn to capital markets during the first semester of this year if opportunities exist, the economy chief said during a news …

Peru may tap capital markets this year to better manage debt Read More »

BRUSSELS (Reuters) – The Group of Creditors of Ukraine (GCU) body said on Friday that it had provided financing assurances to support the International Monetary Fund’s (IMF) approval for an upper credit tranche programme to help restore Ukraine’s economy. The Group of Creditors of Ukraine includes Canada, France, Germany, Japan, Britain and the United States. …

Ukraine creditors group: provides assurances to support IMF steps to help Ukraine Read More »

By Michael S. Derby NEW YORK (Reuters) -An executive who also serves on the board overseeing the New York Federal Reserve warned on Twitter of potentially systemic problems in the real estate finance market and called on the industry to work with authorities to avoid things getting out of hand. Noting there is $1.5 trillion …

Real estate leader on NY Fed board warns on commercial real estate risks Read More »

(Reuters) -Fitch Ratings on Friday cut Argentina’s foreign currency rating to “C” from “CCC-” citing an “imminent” default after the country ordered public sector bodies to sell or exchange their holdings of some sovereign dollar bonds. A presidential decree said on Thursday that public sector bodies would have to sell or auction five local law …

Argentina debt exchange will trigger default -Fitch Read More »