Reuters US Economy

By Fergal Smith TORONTO (Reuters) – The Canadian dollar edged higher against its U.S. counterpart on Wednesday, with the currency rebounding from its lowest level in nearly eight weeks as investor sentiment picked up and the Bank of Canada raised interest rates to a 14-year high. The loonie was trading 0.1% higher at 1.3135 to …

C$ rebounds as Wall Street rallies, BoC signals more tightening Read More »

OSLO (Reuters) – Norway’s prime minister and the head of the European Commission did not discuss setting a price cap for Norwegian gas sold to the EU during talks on Wednesday, the Norwegian government said. The EU earlier on Wednesday said it plans to cap the price of Russian gas, while President Vladimir Putin threatened …

Norway did not discuss price cap on its gas to EU -prime minister Read More »

(Reuters) – U.S. power consumption will rise to a record high in 2022 due to rising economic activity and hotter summer weather, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Wednesday. EIA projected power demand will climb to 4,029 billion kilowatt-hours (kWh) in 2022, from 3,930 billion kWh in …

U.S. power use to reach record high in 2022 as economy grows -EIA Read More »

By Vladimir Soldatkin VLADIVOSTOK, Russia (Reuters) -President Vladimir Putin said on Wednesday that Russia had not lost anything in a global confrontation with the United States over the conflict in Ukraine but had actually gained by setting a new sovereign course that would restore its global clout. Putin increasingly casts the conflict in Ukraine, which …

Putin says Russia has gained, not lost, from intervening in Ukraine Read More »

BERLIN (Reuters) – Germany is working to bring down energy prices by building up infrastructure for global gas imports as well as working with European partners, said Chancellor Olaf Scholz on Wednesday. The German government is working at high speed to build up these capacities so it no longer has to pay high prices for …

Germany’s Scholz: prices for energy deliveries must be lowered Read More »

By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) -The U.S. Treasury is seeking to design a simple compliance regime for enforcing a price cap on Russian oil exports and hopes that China and India join the coalition or at least take advantage of it, Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo, speaking …

U.S. Treasury seeking simple Russian oil price cap compliance regime -Adeyemo Read More »

(Reuters) – The operator of the Templeton Global Income Fund early this year discussed plans with its second-largest investor that made it more difficult for the fund’s largest investor to wrest control of the closed-end fund, court filings suggest. The previously undisclosed discussions between executives at Franklin Resources Inc’s Franklin Templeton unit and First Trust …

Franklin discussed GIM vote with shareholder -court filings Read More »

By Alistair Smout, Elizabeth Piper and Sinead Cruise LONDON (Reuters) – In Kwasi Kwarteng, Prime Minister Liz Truss has picked an ideological ally as Britain’s new finance minister, charging him with tackling a cost-of-living crisis with a tax-cutting, big-spending plan that has worried markets. The new Chancellor of the Exchequer, Kwarteng, 47, inherits an economy …

New finance minister Kwarteng gives UK PM Truss key ally in economic storm Read More »

By Kate Abnett BRUSSELS (Reuters) – The Netherlands has warned other European Union countries that an EU plan to use a carbon market reserve to finance their exit from Russian gas would undermine the bloc’s climate change policy, and put forward alternative plans. As part of its aim to end Europe’s reliance on Russian gas …

Netherlands warns against EU carbon market fundraising plan Read More »