Reuters US Economy

(Reuters) – TCS Group Holding, which runs Russian online bank Tinkoff, on Thursday said it was introducing a 3% commission on incoming SWIFT transfers in dollars, euros and pounds and setting a minimum amount for outgoing transfers at $20,000. With their already limited cash holdings of hard currency, Russian banks have few options for investing …

Russia’s Tinkoff introduces 3% commission on incoming SWIFT FX transfers Read More »

By Hannah Lang and Katanga Johnson WASHINGTON (Reuters) -Liquidity troubles at crypto lending platform Celsius Network, which have left its 1.7 million customers unable to redeem their assets, will increase U.S. regulatory pressure on the sector, which was already on the defensive amid other crises this year. The industry has been battling scrutiny over concerns …

Analysis-U.S. crypto-lending firms likely to see greater regulation after Celsius troubles Read More »

By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark …

Argentina hikes interest rate 300 basis points as inflation spirals Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – Concerns are growing that U.S. corporate earnings are increasingly at risk from dizzying inflation, a strong dollar and rising interest rates, complicating the outlook for investors already reeling from the S&P 500’s bear market confirmation earlier this week. While second-quarter profit growth forecasts have fallen in recent weeks, …

Analysis-Investors worry that U.S. profit forecasts are too high Read More »

By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – Rather than invent a radical new instrument to ease bond market strains across the euro bloc, investors reckon the European Central Bank might get away with cobbling together the best parts of schemes already contained in its policy toolkit. The ECB on Wednesday promised fresh support …

Analysis: Markets suspect new ECB tool to address bond stress could mimic old tools Read More »

(Reuters) – Russia plans to increase oil production next month as export flows are being redirected to avoid Western sanctions, energy officials said on Thursday, predicting domestic oil output would be either flat or decline slightly this year. “In fact, we are close to the February levels when we had it (oil production) at 10.2 …

Novak says Russia can increase oil production in July Read More »

By Joseph White and David Shepardson DETROIT (Reuters) – Top executives of General Motors Co and Ford Motor Co said on Wednesday U.S. consumer demand for cars and trucks remains strong, despite rising interest rates and record high gas prices. The Federal Reserve is expected to boost U.S. rates again as soon as Wednesday to …

GM, Ford executives say U.S. vehicle demand stays strong Read More »

NEW YORK (Reuters) – The Federal Reserve on Wednesday raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising unemployment in the months to come. The action raised the short-term federal funds rate to a range of 1.50% …

Instant View: Fed hikes rates by 0.75 percentage point, flags slowing economy Read More »

BRUSSELS (Reuters) – The euro zone’s trade deficit almost doubled in April from the previous month, after an already record expansion in March, and industrial production increased over the same period, official data showed on Wednesday. The European Union’s statistics office Eurostat said the 19 countries sharing the euro recorded a trade deficit, unadjusted for …

Euro zone trade deficit almost doubles in April Read More »