PARIS (Reuters) – France’s government cut its growth outlook sharply on Tuesday but kept its budget deficit forecast steady despite billions of extra spending on anti-inflation measures thanks to stronger than expected tax revenues. The finance ministry said that growth was now expected to be 2.5% this year, down from a previous estimate of 4% …
France cuts growth outlook, but sticks to budget target – ministry Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence dropped to a 16-month low in June as worries about high inflation left consumers to anticipate that the economy would slow significantly or even slide into recession in the second half of the year. Despite the gloomy outlook, consumers showed little sign of cutting back on …
Inflation saps U.S. consumer confidence; house prices remain elevated Read More »
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Tuesday said she believes the U.S. economy will slow to below 2% annual growth as the Fed raises interest rates, but there’s enough momentum that it won’t stop growing. “I do expect the unemployment rate to rise slightly, but nothing (like)…. what people would …
Fed’s Daly: growth will slow, but don’t expect economy to shrink Read More »
By Daphne Psaledakis and Michelle Nichols WASHINGTON (Reuters) -The United States on Tuesday imposed sanctions on more than 100 targets and banned new imports of Russian gold, acting on commitments made by the Group of Seven leaders this week to further punish Russia over its invasion of Ukraine. The U.S. Treasury Department said it imposed …
New U.S. sanctions target Russian gold imports, defense industry Read More »
ROME (Reuters) – Italy’s Treasury said the country’s economy could grow this year by at least as much as Rome’s official target of 3.1% set in April, despite the negative impact of surging energy prices. Italy grew 0.1% in the first quarter from the previous three months, national statistics bureau ISTAT said last month, revising …
Italy says can exceed 3.1% growth target for 2022 despite energy prices Read More »
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index rose on Monday to its highest level in nearly two weeks, aided by gains in resource-linked shares and an upbeat mood in global equities, although Bombardier Inc tumbled to its lowest in 15 months. The Toronto Stock Exchange’s S&P/TSX composite index ended up 195.41 points, …
TSX climbs to 2-week high as resource shares rally Read More »
By Uditha Jayasinghe COLOMBO (Reuters) – Troops in Sri Lanka handed tokens on Monday to people queueing for petrol amid a severe fuel shortage in the nation battling its worst economic crisis in seven decades, while schools shut in Colombo and public employees were asked to work from home. With its foreign exchange reserves at …
Crisis-hit Sri Lanka shuts schools, urges work from home to save fuel Read More »
FRANKFURT (Reuters) – The European Central Bank has shifted the timing of its policy announcements and press conferences, unveiling its decisions later than in the past and shortening the lag between the two events, it said on Monday. Starting with the July 21 policy meeting, decisions will be announced at 14:15 Frankfurt time, 30 minutes …
ECB shifts back timing of policy decisions, press conferences Read More »
MOSCOW (Reuters) – The rouble pared early losses in volatile Moscow trade on Monday as Russia looked set for its first sovereign default in decades after a payment deadline expired before some bondholders had received overdue interest. The 30-day grace period on $100 million interest payments due on May 27 expired on Sunday. The Kremlin …
Volatile rouble pares intraday losses as Russia slips into default zone Read More »
SCHLOSS ELMAU, Germany (Reuters) – All leaders of the Group of Seven rich democracies are concerned about a looming economic crisis as growth slows and inflation soars, German Chancellor Olaf Scholz said after a working session on the global economy at this year’s annual G7 summit. “All members are concerned about the crisis we are …
G7 nations are worried about global economic crisis – Scholz Read More »
