Reuters US Economy Archives - Page 732 of 866

Australia’s Tyro Payments in takeover talks with Westpac, among others

17 Oct 2022 17 Oct 2022

(Reuters) -Australian payment terminals firm Tyro Payments Ltd on Tuesday confirmed it was approached by several parties including lender Westpac Banking Corp for a potential takeover and that it was in preliminary talks with selected parties. The Australian Financial Review reported on Monday that Westpac had roped in investment bankers from JP Morgan to advise …

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Analysis-Foreign banks amass reserves at the Fed, bracing for funding stress

17 Oct 2022 17 Oct 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Foreign bank units have been accumulating cash reserves at the Federal Reserve, likely reflecting concerns that a dollar funding crunch could be looming as the U.S. central bank reduces its balance sheet and global economies face recession risks. While their reserves were drawn down in September, probably due …

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Germany aiming to cushion recession without fuelling inflation -Habeck

17 Oct 2022 17 Oct 2022

PRAGUE (Reuters) – The German government is aiming to cushion an expected recession with its investment programmes, but without fuelling inflation, Economy Minister Robert Habeck said on Monday. “We have a chance with the right stimulation to manage both: to cushion the recession, maybe not even to let it get too deep and too long, …

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OPEC+ members endorse output cut after U.S. coercion accusation

17 Oct 2022 17 Oct 2022

By Maha El Dahan, Yasmin Hussein and Moataz Mohamed CAIRO (Reuters) -OPEC+ member states lined up on Sunday to endorse the steep cut to its output target agreed this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing some other nations into supporting the move. The …

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Targeted energy support in EU is easier said than done – officials

17 Oct 2022 17 Oct 2022

By Jan Strupczewski WASHINGTON (Reuters) -European Union governments have pledged “targeted and temporary” support against high energy prices for households and firms, so as not to undermine central bank efforts to fight inflation, but officials warn it will be politically very difficult to deliver. Speaking on the sidelines of the IMF and World Bank meetings …

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Take Five: Calm or calamity?

17 Oct 2022 17 Oct 2022

LONDON (Reuters) – Britain, for now, remains the key to whether a calmer mood can take a hold in markets unnerved by turmoil in the UK that has stoked wider worries about financial stability. Traders are back on Japanese yen intervention watch, while the U.S. earnings season and a congress of China’s ruling Communist Party …

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French refinery strike further hits petrol supplies, says PM

16 Oct 2022 16 Oct 2022

By Mathieu Rosemain PARIS (Reuters) -Petrol supplies at French service stations fell further over the weekend due to a weeks-long strike at oil major TotalEnergies, Prime Minister Elisabeth Borne said on Sunday, prompting possible further requisitioning of services. President Emmanuel Macron’s government is facing mounting social unrest due to high inflation, with thousands protesting on …

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OPEC Sec-Gen says output cuts were pre-emptive

16 Oct 2022 16 Oct 2022

(Reuters) -OPEC Secretary General Haitham al-Ghais said on Sunday that the group, alongside other producers that form the OPEC+ alliance, took purely technical decisions and that oil output cuts were a pre-emptive measure. Speaking from Algeria, Ghais also said a slew of statements from producer nations in support of the Oct. 5 decision to cut …

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Saudi defence minister: OPEC+ decision taken unanimously for economic reasons

16 Oct 2022 16 Oct 2022

(Reuters) – Saudi Arabia’s defence minister said the decision by OPEC+ to cut oil output was taken unanimously and for purely economic reasons. Prince Khalid bin Salman also said he was “astonished” by accusations that the Kingdom was “standing with Russia in its war with Ukraine.” “It is telling that these false accusations did not …

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Brazil to nominate ex-central bank governor Goldfajn for top IDB job -source

16 Oct 2022 16 Oct 2022

By Marcela Ayres BRASILIA (Reuters) -Brazil plans to nominate former central bank governor Ilan Goldfajn to head the Inter-American Development Bank (IDB), a person familiar with the matter said on Sunday, as Latin America’s largest economy seeks to secure its first presidency of the institution. The development bank will elect its next president on Nov. …

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