By Gabriel Araujo SAO PAULO (Reuters) -Brazilian miner Vale SA said on Friday it has signed a long-term deal with Tesla Inc to supply the U.S.-based electric vehicle maker with nickel from its Canadian operations. Vale did not provide financial details on the deal and did not say how long it will last. The Brazilian…
(Reuters) – The Federal Reserve will have to raise interest rates more aggressively and risk a recession if supply chain issues don’t begin to ebb, Minneapolis Fed President Neel Kashkari said on Friday, as he reiterated that policymakers are keenly watching how far rates will have to rise above the neutral level. “We know we…
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve said Friday the U.S. banking system remains strong despite heightened volatility and geopolitical risk, but cautioned them against prime brokerage services that come with heightened risk. In its latest bank supervision report, the Fed offered an upbeat take on the strength of U.S. banks, noting…
By Chris Prentice and Kanishka Singh WASHINGTON (Reuters) -Nvidia Corporation has agreed to pay $5.5 million to settle civil charges that the technology firm did not properly disclose the impact of cryptomining on its gaming business, the U.S. Securities and Exchange Commission (SEC) said on Friday. In back-to-back quarters in fiscal 2018, Nvidia failed to…
By Saikat Chatterjee and Sujata Rao LONDON (Reuters) – “Our currency, your problem,” were the words of a former U.S. Treasury secretary in 1971 to other finance ministers aghast at the dollar’s surge. More than 50 years on, relentless dollar strength is again leaving a trail of destruction in its wake. The U.S. currency vaulted…
VIENNA (AP) — A train carrying 2,000 metric tons of Ukrainian corn arrived in Austria on Friday, part of European efforts to elude a Russian blockade of Ukraine’s ports that has prevented critical supplies of wheat, corn and other grains from getting to countries in Africa, Middle East and parts of Asia. Standing in front…
TORONTO (Reuters) – Canada’s economy gained a net 15,300 jobs in April, entirely in part-time work, Statistics Canada said on Friday. The jobless rate edged down to 5.2%, a new record low. Employment in the goods producing sector fell by a net 16,000 jobs, mostly in construction. The services sector grew by a net 31,4600…
(Reuters) – The Federal Reserve may have to push long-term real rates into a contractionary stance in order to help bring inflation down, Minneapolis Fed President Neel Kashkari said on Friday. “We will need to observe incoming data over the next several months to determine if fulfilling current guidance is enough to bring inflation back…
(Reuters) -Agricultural equipment maker AGCO Corp said on Friday it expects operations at some of its production facilities to be affected for “several days and potentially longer” following a ransomware attack. The company’s shares were down 4% at $125.55. AGCO did not disclose the names of the facilities or if any data was stolen, but…
By John McCrank NEW YORK (Reuters) – Individual investors were major buyers on Thursday as stocks sold off over concerns that the U.S. Federal Reserve would have to increase the size of interest rate hikes to tame inflation, which is running at a four-decade high. Retail investors were net buyers of $2.6 billion worth of…
