LIMA (Reuters) – Peru’s central bank raised the country’s benchmark interest rate by 50 basis points to 5.5% on Thursday, the eleventh consecutive hike, as authorities in the copper-producing Andean nation battle stubbornly high inflation. Prices rose more slowly in May than in the two prior months, but annual inflation still reached 8.09%, its highest…
WASHINGTON (Reuters) – Friday’s consumer price data is likely to reflect the continued impact that Russia’s invasion of Ukraine is having on food and energy prices, but U.S. goods and services inflation should moderate in the months ahead, a senior U.S. official said on Thursday. “Despite these disruptions, we continue to believe that the economy…
A federal labor board has denied Amazon’s request to bar the public from a hearing on the company’s bid to overturn a historic union win at one of its Staten Island, New York, warehouses. Hearings by the National Labor Relations Board are typically held in person and open to the public. But the Seattle-based company…
NEW YORK (AP) — An explosion at a liquefied natural gas terminal in Texas has left nearby residents rattled and is taking a substantial amount of the fuel off the market at a time when global demand is soaring. Freeport LNG will be offline for at least three weeks, the company said Thursday, following a…
(Reuters) – Air New Zealand Ltd on Friday improved its forecast for fiscal 2022, benefiting from a pick-up in demand following the opening up of domestic and international borders. New Zealand recently said it would fully reopen its international borders from end-July, and the country welcomed travelers from trans-Tasman neighbor Australia for the first time…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday she does not think the U.S. economy is going to experience a recession, but gasoline prices were unlikely to fall anytime soon. “I don’t think we’re (going to) have a recession. Consumer spending is very strong. Investment spending is solid. I expect growth to…
By Julie Gordon and David Ljunggren OTTAWA (Reuters) -Hot inflation is the Bank of Canada’s primary focus as it raises interest rates, a senior central bank official told Reuters on Thursday, making it clear that the bank was willing to accept a housing market correction in order to curb consumer price gains. Senior Deputy Governor…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended sharply lower on Thursday in a broad decline led by Nasdaq as investors grew cautious ahead of data on Friday that is expected to show consumer prices remained high in May. All 11 of the S&P 500 sectors were in negative territory, with the communication…
By Herbert Lash and Marc Jones NEW YORK (Reuters) – U.S. and European shares slid and euro zone borrowing costs hit an eight-year high on Thursday after the European Central Bank signaled it would hike interest rates next month for the first time since 2011, a move some said was too slow. While the ECB…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks were solidly lower on Thursday in a broad decline as investors grew cautious ahead of data on Friday that is expected to show that consumer prices remained high in May. All 11 of the S&P 500 sectors were in negative territory by afternoon, with the communication…
