SEOUL (Reuters) – South Korea’s foreign exchange reserves measured in U.S. dollars shrank by the most in more than two years in April on the dollar’s strength and dollar-selling intervention by the authorities, data showed on Wednesday. The country’s foreign exchange reserves stood at $449.30 billion as of the end of April, down $8.51 billion …
S.Korea April FX reserves fall on stronger dollar, intervention Read More »
By Karin Strohecker and Sujata Rao LONDON (Reuters) -Russia was set to swerve a debt default after overdue payments on two of its sovereign Eurobonds were sent to creditors, four sources told Reuters. A source familiar with the payment process and speaking on condition of anonymity said on Tuesday the funds had been transferred to …
Russia set to avoid default as creditors get bond payment -sources Read More »
By Howard Schneider WASHINGTON (Reuters) – When Georgia matched its record low unemployment rate of 3.4% last October, officials in the southern U.S. state could, in an important sense, mark the COVID-19 pandemic’s economic impact as being behind them. As the rate fell steadily and hit 3.1% in March, they realized trouble of a different …
As some states hit record low unemployment, Fed faces tough adjustment Read More »
BRUSSELS (Reuters) -The European Union will slap new sanctions on Russia for waging war against Ukraine, targeting Moscow’s oil industry, more Russian banks and those responsible for disinformation, the EU’s top diplomat said on Tuesday. “We are working on the sixth package of sanctions which aims to de-SWIFT more banks, list disinformation actors and tackle …
New EU sanctions to hit Russian oil, target more banks Read More »
MEXICO CITY (Reuters) – Bank of Mexico board member Jonathan Heath on Tuesday cautioned on implementing price controls to tackle inflation, saying the measures only work in the short term. “My personal opinion is that price controls only work in the short term, so great care must be taken in their implementation,” Heath said on …
Bank of Mexico board member cautions on implementing price controls Read More »
By Sruthi Shankar and Shreyashi Sanyal (Reuters) – European stocks rose on Tuesday after a string of upbeat earnings, while banking shares gained as government bond yields hit fresh highs in anticipation of quicker interest rate hikes by global central banks to tackle surging inflation. The pan-European STOXX 600 index climbed 0.5%, rebounding from a …
By Marc Jones LONDON (Reuters) – Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China’s COVID-19 lockdowns, Russia’s invasion of Ukraine and other strains cause even longer delays at ports and drive up costs. The study by analysts at Royal Bank of Canada (RBC) found that …
Snarled-up ports point to worsening global supply chain woes – report Read More »
By Simon Jessop and Padraic Halpin LONDON (Reuters) – Activist investor Clearway Capital has written to the board of Glanbia calling for a break-up of the Irish nutrition company to help boost its value to more than 6 billion euros ($6.33 billion), a letter seen by Reuters showed. The North America-focused group comprises the Glanbia …
Activist Clearway calls for split of nutrition company Glanbia – letter Read More »
BERLIN (Reuters) – German unemployment fell in April, Labour Office figures showed on Tuesday, though the continued recovery seen as coronavirus pandemic measures are being lifted was slowed by the war in Ukraine. The Federal Labour Office said the number of people out of work fell by 13,000 in seasonally adjusted terms to 2.287 million. …
German unemployment sinks in April as pandemic measures ease Read More »
By Wayne Cole SYDNEY (Reuters) – Australia’s central bank on Tuesday raised its main cash rate by a surprisingly large 25 basis points to 0.35%, its first hike in more than a decade, and flagged more to come as it runs down the curtain on pandemic stimulus. The news will not be welcome to Prime …
Australia’s central bank hikes interest rates, flags more to come Read More »
