Reuters US Economy

By Caroline Pailliez and Tassilo Hummel PARIS (Reuters) -More than a fifth of France’s service stations were grappling with supply problems on Saturday, the energy ministry said, as strikes at refineries run by oil majors TotalEnergies and ExxonMobil continued to strain drivers’ nerves. “The Government is doing its utmost to restore the situation to normal …

France struggles with refinery strikes, but not planning petrol rationing Read More »

BUENOS AIRES (Reuters) -The executive board of the International Monetary Fund (IMF) approved the second review for Argentina’s $44 billion extended fund facility program, the lender said on Friday, noting the country’s efforts to meet the established targets. The approval allows for the issuance of $3.8 billion, bringing total disbursements under the arrangement to about …

IMF board approves review of Argentina’s $44 billion loan program Read More »

By Saeed Azhar and Niket Nishant NEW YORK (Reuters) – The biggest U.S. banks are expected to report weaker third-quarter profits as the economy slowed and volatile markets put the brakes on dealmaking. Four of the nation’s largest lenders – JPMorgan Chase & Co, Wells Fargo & Co, Citigroup Inc and Morgan Stanley – will …

U.S. banks’ Q3 profits set to shrink on economic risks, deal slump Read More »

By Michael S. Derby BUFFALO, N.Y. (Reuters) -New York Federal Reserve President John Williams said on Friday the U.S. central bank has more work to do to lower inflation and rebalance economic activity in a more sustainable way, and he warned that the unemployment rate will most likely rise as part of that process. “We …

Fed’s Williams says more rate hikes needed to bring down inflation Read More »

By Lisandra Paraguassu SAO PAULO (Reuters) – Economic advisers to Brazilian presidential candidate Luiz Inacio Lula da Silva are looking at two main ideas to replace a constitutional spending cap, including a flexible primary surplus target, two senior aides told Reuters on Friday. Lula has resisted pressure to lay out what fiscal rules his government …

Brazil’s Lula eyes flexible primary surplus target to replace spending cap Read More »

By Luis Jaime Acosta BOGOTA (Reuters) – Consumers will choose drinking coffee at home over cafes and restaurants due to rising inflation and risks of recession in coming months, the executive director of the International Coffee Organization (ICO) said on Friday. International coffee supply has not been able to meet demand at a time when …

Consumers to ditch cafes for coffee at home amid rising prices, says ICO Read More »

By Luis Jaime Acosta BOGOTA (Reuters) – A string of former Colombian finance ministers criticized the Andean country’s President Gustavo Petro on Thursday after he took to Twitter to question the central bank’s decision to hike its benchmark interest rate last week. Last Thursday the bank’s board voted by majority to raise the rate by …

Former Colombian finance ministers criticize Petro comments on central bank Read More »

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – New Federal Reserve Governor Lisa Cook on Thursday added her voice squarely to the U.S. central bank’s broad consensus for continued interest rate hikes, as other policymakers joined to reiterate they see no let-up in the monetary tightening. U.S. inflation “remains stubbornly and unacceptably high, and …

Fed officials, including newcomer Cook, sing from same policy hymn book Read More »

(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The greenback is back. The dollar chalked up its second straight daily increase of around 1% on Thursday to bring its year-to-date rise up to 17%. This would be the biggest annual appreciation since the era of free-floating exchange rates was …

Marketmind: Putting the back in greenback Read More »

By Julie Gordon and David Ljunggren OTTAWA (Reuters) – The Bank of Canada made clear on Thursday it will not yet be pivoting away from its rapid pace of interest rate increases, with Governor Tiff Macklem saying there were no signs underlying inflation might be easing. Macklem, in a speech to a business audience in …

Bank of Canada’s hawkish message bolsters case for another large rate hike Read More »