Reuters US Economy Archives - Page 804 of 866

Biden promised Bolsonaro U.S. would reconsider tariffs on Brazil steel -sources

10 Jun 2022 11 Jun 2022

By Lisandra Paraguassu LOS ANGELES (Reuters) -U.S. President Joe Biden has promised his Brazilian counterpart Jair Bolsonaro the United States will reconsider tariffs levied on Brazilian steel as they met on Thursday, two Brazilian government sources said. Although no decisions were made, Bolsonaro left the meeting with a promise from Biden that the issue will …

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Rates must rise but ECB will fight fragmentation -policymakers

10 Jun 2022 10 Jun 2022

PARIS/FRANKFURT (Reuters) -The European Central Bank needs to take “resolute” action to tame inflation but it is also fully determined to contain any undue increase in borrowing costs on the euro zone’s periphery, policymakers said on Friday. The ECB on Thursday flagged a 25 basis point interest rate hike in July and said a bigger …

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CPI preview: Searching for inflation cooling trends

10 Jun 2022 10 Jun 2022

By Stephen Culp NEW YORK (Reuters) -Economic data expected on Friday has market participants anxiously waiting for confirmation that decades-high inflation reached its summit in March and has commenced its long hike back down the mountain. While the Labor Department’s Consumer Price index (CPI), which tracks the cost to urban consumers of a basket of …

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Stitch Fix to cut workforce by 15% of salaried roles

9 Jun 2022 9 Jun 2022

(Reuters) -Stitch Fix Inc said on Thursday it is reducing its workforce by around 15% of salaried positions, as the online personalized styling service firm aims to return to profitability. Decades-high inflation and the impact of the war in Ukraine have pressured Corporate America to consider laying off people or put a freeze on hiring. …

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Mexico annual inflation rate near 21-year high, rate hike seen

9 Jun 2022 9 Jun 2022

By Gabriel Araujo and Jackie Botts MEXICO CITY (Reuters) – Mexican inflation rose faster than expected in May, data from the INEGI national statistics agency showed on Thursday, prompting bets the Bank of Mexico will continue hiking interest rates to combat spiraling consumer prices. Inflation rose 7.65% in the 12 months through May, a touch …

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Spain vows to defend its interests after Algeria halts all non-gas trade

9 Jun 2022 9 Jun 2022

By Belén Carreño and Inti Landauro MADRID (Reuters) – Spain said it will firmly defend its national interests following Algeria’s decision to suspend a 20-year-old treaty of friendship and cooperation and ban all non-gas trade, a move that also alarmed EU officials. Spain was also monitoring gas flows from Algeria, its second-largest supplier after the …

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IMF hopes to mobilize as much funding as possible to aid Ukraine

9 Jun 2022 9 Jun 2022

By Andrea Shalal WASHINGTON (Reuters) – Canada and Germany have already pledged over $2 billion to a new administered account set up by the International Monetary Fund to help war-torn Ukraine, and other countries have expressed interest, IMF spokesperson Gerry Rice said on Thursday. Rice declined to estimate the total amount that could be raised …

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China’s exports surge on easing COVID curbs, trade outlook still fragile

9 Jun 2022 9 Jun 2022

BEIJING (Reuters) – China’s exports grew at a double-digit pace in May, shattering expectations in an encouraging sign for the world’s second biggest economy, as factories restarted and logistics snags eased after authorities relaxed some COVID curbs in Shanghai. Imports also expanded for the first time in three months, providing welcome relief to Chinese policy …

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Thai consumer mood at 9-min low in May on living costs, Ukraine war

9 Jun 2022 9 Jun 2022

BANGKOK (Reuters) – Thai consumer confidence dropped for a fifth straight month in May, hitting a ninth-month low, due to worries over higher living costs and the impacts of Russia’s invasion of Ukraine, a survey showed on Thursday. The consumer index of the University of the Thai Chamber of Commerce fell to 40.2 in May …

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Turkish president sees $1 billion trade with Venezuela in 2022

8 Jun 2022 8 Jun 2022

(Reuters) – Trade between Turkey and Venezuela will hit $1 billion this year, Turkish President Recep Tayyip Erdogan said during a meeting in his country’s capital, Ankara, with Venezuelan counterpart Nicolas Maduro. Maduro traveled on Tuesday to Turkey, one of the few countries that maintains a relationship with Venezuela despite long-running U.S. sanctions. Venezuela is …

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