BRASILIA (Reuters) – Brazil’s central bank chief Roberto Campos Neto said on Friday that the ongoing monetary tightening will probably end with benchmark rates at 12.75%, taking a more direct stance after saying on Thursday that a further hike in June was not likely. “We started the hiking process a long time ago, we think…
BRUSSELS (AP) — The European Union and United States made a breakthrough in their yearslong battle over the privacy of data that flows across the Atlantic with a preliminary agreement Friday that paves the way for Europeans’ personal information to be stored in the U.S. President Joe Biden and European Commission President Ursula von der…
By Patturaja Murugaboopathy and Gaurav Dogra (Reuters) – Mutual funds that invest in emerging market (EM) equities and bonds have faced huge outflows over the past month, as the intensifying Russia-Ukraine crisis spawns fears over higher inflation and slower economic growth in these markets. According to Refinitiv Lipper, a cumulative $8.1 billion has flowed out…
Millionaire philanthropist Pete Kadens is trying to do what President Biden hasn’t been able to get done. Kadens has created two college-scholarship programs — Hope Toledo, in his Ohio hometown, and Hope Chicago, which he co-founded with investment-management executive Ted Koenig and launched in September in the city where he ran several businesses. The goal:…
By Eric Onstad LONDON (Reuters) – Surging European steel prices are set to extend their gains as Russia’s invasion of Ukraine has disrupted logistics, spurred sanctions and sent energy prices soaring. Russia is the world’s fifth biggest steel producer, while Ukraine comes in at 14th. The two combined account for a fifth of imports to…
By Gianluca Semeraro and Stefano Bernabei MILAN (Reuters) -Rebel challengers to Generali’s current management pledged to increase earnings by a double-digit percentage and free more cash for takeovers, setting out their plans for Italy’s largest insurer before a showdown next month. Generali faces a power struggle over its board when shareholders vote on April 29,…
(Reuters) – Bed Bath & Beyond said on Friday it appointed three new directors to its board as part of its settlement with Ryan Cohen, weeks after the billionaire investor pushed for strategic alternatives at the home goods retailer. Cohen, who disclosed a nearly 10% stake in the company earlier this month, had criticized the…
BRUSSELS (AP) — The European Union set the stage for a stepped-up crackdown on big tech companies with an agreement on landmark digital rules to rein in online “gatekeepers” such as Google and Facebook parent Meta. EU officials agreed late Thursday on wording for the bloc’s Digital Markets Act, part of a long-awaited overhaul of…
SHANGHAI (Reuters) -China said on Friday it will maintain yuan flexibility and foreign exchange market stability, vowing to actively prevent and defuse risks from external shocks. The trend of foreigners investing in China, and allocating yuan assets will not change, China’s foreign exchange regulator said. Meanwhile, China expects a reasonable current account surplus this year,…
By Joshua Schneyer (Reuters) – Nearly a year after COVID vaccines became freely available in the U.S., one fourth of American adults remain unvaccinated, and a picture of the economic cost of vaccine hesitancy is emerging. It points to financial risk for individuals, companies and publicly funded programs. Vaccine hesitancy likely already accounts for tens…
