MEXICO CITY (Reuters) – Workers at a Mexican plant of ArcelorMittal have called off a brief strike after reaching an agreement with the world’s largest steelmaker over profit-sharing, the mining union said on Thursday. The union, which went on strike at noon on Wednesday, said in a statement the Luxembourg-based firm had agreed to pay…
TOKYO (Reuters) – The Bank of Japan maintained its massive stimulus on Friday and its guidance to keep borrowing costs at “present or lower” levels, signaling its resolve to focus on supporting the economy’s recovery from the COVID-19 pandemic. The central bank also said it would offer to buy unlimited amounts of 10-year Japanese government…
By Tetsushi Kajimoto TOKYO (Reuters) -Japan has reappointed Masato Kanda as vice finance minister for international affairs, the country’s top currency diplomat, as part of a mid-year personnel reshuffle, the Ministry of Finance said on Friday. The government wants to stabilise financial markets as the yen hits 24-year lows – beyond 135 to the dollar…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan is likely to maintain ultra-low interest rates on Friday and stress its resolve to support a fragile economy with massive stimulus, a move that may spark a renewed yen fall by highlighting a policy divergence with the rest of the world. While a modest, technical tweak…
Airlines canceled more than 1,500 flights in the U.S. on Thursday, one of the worst days yet for travel as the peak summer vacation season heats up. At LaGuardia Airport in New York, more than one-third of all flights were scrubbed, and more than one-fourth of flights were dropped at nearby Newark Liberty airport in…
By Arathy Somasekhar (Reuters) – Oil prices edged slightly lower on Friday as worries about global economic growth and uncertainty weighed on markets following numerous interest rate hikes around the world this week. Brent crude futures fell 83 cents, or 0.8%, to $118.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell to…
(Reuters) – London’s Gatwick airport said on Friday it will limit the number of flights during the summer travel season in light of continuing labour shortages, a move that will force airlines to cancel some flights. Britain’s second-largest airport will cap flights at 825 per day in July and 850 in August in order to…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve’s largest rate hike since 1994. The benchmark S&P 500 suffered its sixth decline in seven…
By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark Leliq…
By David Shepardson WASHINGTON (Reuters) -President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs. The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week. Biden said he had “promised to crack down on ocean…
