By Fergal Smith TORONTO (Reuters) – Canada’s main stock snapped its recent winning streak on Tuesday, pressured by a drop in resource shares, as investors grew more nervous that central banks would hike interest rates aggressively to tame inflation. The Toronto Stock Exchange’s S&P/TSX composite index ended down 190.06 points, or 0.9%, at 20,729.34, after …
TSX gives back monthly gain as resource shares slide Read More »
WASHINGTON (Reuters) – U.S. President Joe Biden told Federal Reserve Chair Jerome Powell on Tuesday that he will give the central bank the space and independence to address inflation as it sees fit, according to a top aide. “The president underscored to Chair Powell in the meeting what he has underscored consistently, including today, that …
Biden emphasized Fed independence in meeting with Powell – aide Read More »
(Reuters) – Some OPEC members are considering the idea of suspending Russia in an oil production deal as Western sanctions hurt the nation’s ability to produce more, the Wall Street Journal reported on Tuesday, citing OPEC delegates. Exempting Russia could pave the way for Saudi Arabia, the United Arab Emirates and other OPEC members to …
OPEC mulls excluding Russia from oil-production deal – WSJ Read More »
PARIS (Reuters) – The latest increases in inflation make the exit from exceptional monetary policy measures all the more necessary, Bank of France Governor Francois Villeroy de Galhau said on Tuesday. French inflation rose more than private economists had expected in May to a new record of 5.8%, preliminary EU-harmonised data showed earlier on Tuesday. …
Latest inflation data boost case for normalisation – French central banker Read More »
By Rachel Savage and Leigh Thomas LONDON/PARIS (Reuters) – China’s lack of experience with tricky debt restructurings and slow coordination among its public lenders is holding up debt relief for Zambia, a test case for the top emerging market creditor, three sources familiar with the matter said. Zambia became in 2020 the first country to …
Test case Zambia exposes China’s rookie status on debt relief – sources Read More »
By Kevin Yao BEIJING (Reuters) – Chinese provinces are racing to issue some $225 billion of bonds in June, frontloading investment to revive the COVID-battered economy even as policy advisers step up calls for further debt issuance in the second half. China’s cabinet unveiled a raft of policy measures last week to support an economy …
China rushes bond sales to spur COVID-hit economy, more seen needed Read More »
BERLIN (Reuters) -German inflation rose to its highest level in nearly half a century in May on the back of soaring energy and food prices, strengthening the case for a big, half a percentage point European Central Bank interest rate hike in July. Prices have risen sharply across Europe over the past year, first on …
German inflation beat firms case for bigger ECB rate hike Read More »
By Jake Cordell LONDON (Reuters) – For Oleg Kechin, owner of a chain of barbershops, forecasts that Russia will be plunged into its deepest economic crisis in a generation feel overdone. U.S. President Joe Biden may have promised that Western sanctions would wreak economic havoc in Russia, but Kechin’s business is still drawing in customers …
Analysis: Russians feel little economic pain now, long-term outlook darkens Read More »
By Hernan Nessi and Agustin Geist BUENOS AIRES (Reuters) – In the Crypstation cafe in downtown Buenos Aires, trendy young Argentines order their lattes and pastries surrounded by screens with real-time cryptocurrency price quotes and a huge neon Bitcoin logo. The bill can be paid in digital money, too. Savers in the South American nation …
Bitcoin lures inflation-weary Argentines despite crypto crash Read More »
MADRID (Reuters) -Spanish 12-month inflation resumed its upward trajectory in May after a dip in April as prices other than energy and food rose at their fastest pace in two decades, preliminary data from the National Statistics Institute (INE) showed on Monday. Spanish annual inflation accelerated to 8.7% in May, up from 8.3% the previous …
Spain’s 12-month inflation resumes upwards trend after April dip Read More »
