By Laura Sanicola WASHINGTON (Reuters) – U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the lure of record-high margins, according to data provider IIR Energy and Reuters reporting. The size of the planned outages suggests supplies of gasoline and diesel …
Heavy slate of U.S. oil refinery overhauls to crimp fuel output Read More »
MEXICO CITY (Reuters) – Mexican lawmakers voted Wednesday to confirm the government’s nominee as the newest Bank of Mexico board member, filling a vacancy left at the end of 2022 by the exit of dovish deputy governor Gerardo Esquivel. The country’s Permanent Commision of Congress, a body of lawmakers which meets when Congress is not …
Mexico Congress confirms Mejia to central bank board Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023. The second straight monthly decrease in retail …
U.S. retail sales post biggest drop in a year; inflation retreating Read More »
(Reuters) – There were some encouraging signs U.S. inflation pressures and labor shortages were easing, a Federal Reserve report showed on Wednesday, but economic activity was tepid as the central bank’s actions weigh on growth. Five of the Fed’s districts reported slight or modest increases in overall economic activity over the last several weeks, while …
U.S. firms pessimistic about economic growth this year, Fed survey shows Read More »
Jan 18 (Reuters) – Producer prices in Canada fell by 1.1% in December from November on lower prices for refined petroleum energy products, as well as softwood lumber, Statistics Canada said on Wednesday. The decline followed a downwardly revised 0.5% decrease November. Raw materials prices were down 3.1% in December, and were up 7.5% on …
Canada December producer prices down 1.1% on petroleum, softwood Read More »
By Michael S. Derby NEW YORK (Reuters) – Last year, the inflation data that forced the Federal Reserve to embark on a historically aggressive path of rate rises was a bigger mover of markets than any central bank action or comment from a core policymaker, a new report from Evercore ISI said. “Fed speak in …
In 2022 inflation data trumped Fed comments for moving markets, report says Read More »
(Reuters) – Asian American/Pacific Islander (AAPI) households and those with lower incomes have experienced higher inflation over the past few months as a rise in the costs of food and shelter and a fall in gas prices have altered inflation inequality patterns, a New York Federal Reserve analysis showed on Wednesday. The findings are a …
Changing nature of inflation prompts new inequalities, New York Fed says Read More »
By Mike Dolan LONDON (Reuters) – The U.S. dollar’s accelerating decline from the heady highs of 2022 has a ways to go yet – but the speed of the drop may build a case for a soft landing of its own later this year. A reversal of the near 30% jump in the dollar’s main …
Column-Trapdoor for dollar, red flag for Fed: Mike Dolan Read More »
STOCKHOLM (Reuters) – Intrum, Europe’s biggest debt collector, has appointed Andres Rubio its new chief executive officer, it said in a statement on Wednesday. Rubio joined the Swedish group’s board in 2019 and has been acting chief executive since the previous CEO left the company in August 2022. (Reporting by Anna Ringstrom, editing by Essi …
By Lananh Nguyen and Noor Zainab Hussain DAVOS, Switzerland (Reuters) -U.S. consumers are still in “pretty good shape,” even as the Federal Reserve raises interest rates to tame inflation, Bank of America Chief Executive Brian Moynihan told Reuters during the World Economic Forum’s (WEF) annual meeting. “The consumers are spending, their wages are growing and …
Davos 2023: U.S. consumers in ‘good shape’ as wages grow -BofA CEO Read More »
