SAN JUAN, Puerto Rico (AP) — Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay its more than $70 billion debt. The exit means that the U.S. Caribbean territory’s government will resume billion-dollar payments to bondholders…
Wholesale inflation in the United States shot up 10% last month from a year earlier — another sign that inflationary pressures remain intense at all levels of the economy. The Labor Department said Tuesday that its producer price index — which tracks inflation before it hits consumers — rose 0.8% from January. The increases were…
By John McCrank NEW YORK (Reuters) – Members Exchange (MEMX), the fastest growing U.S. stock exchange, said on Tuesday it plans to launch an options exchange in the fourth quarter, pending regulatory approval, that will seek to reduce industry costs. MEMX, which counts some of Wall Streets biggest firms among its investors, including BlackRock Inc,…
LONDON (AP) — The London Metal Exchange plans to resume trading in nickel, a week after it was suspended when the price of the metal surged to over $100,000 a ton. Trading will resume at 8 a.m. London time on Wednesday, the LME said in a statement, saying a major market client had confirmed it…
(Reuters) – U.S. stock index futures edged higher on Tuesday ahead of the Federal Reserve’s two-day policy meeting, with investors also assessing the fallout from fresh COVID-19 restrictions in China. Traders see a 91% chance of a 25 basis point rate hike by the U.S. central bank at the conclusion of its meet on Wednesday….
(Reuters) -Three major U.S. airlines raised their forecasts for current-quarter revenue on Tuesday, highlighting a recovery in air travel as the Omicron variant loosens its grip on the country. Delta Air Lines Inc, United Airlines Holdings Inc and Southwest Airlines Co said demand for air travel was strong, allaying investor concerns about a hit to…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan will closely watch exchange-rate moves as market stability was “very important,” Finance Minister Shunichi Suzuki said on Tuesday in the wake of the yen’s decline to a five-year low against the dollar. While Tokyo policymakers have traditionally favoured a weak yen for the boost it gives…
By Stefano Rebaudo (Reuters) – The euro rose on Tuesday on hopes of progress in peace talks between Ukraine and Russia despite soaring COVID-19 cases in China dampening risk appetite. Further talks between Ukrainian and Russian negotiators to ease the crisis were expected on Tuesday after discussions via video ended with no new progress announced….
LONDON (Reuters) -Britain on Tuesday said it would ban the export of luxury goods to Russia and impose a new 35% tariff on 900 million pounds ($1.2 billion) worth of Russian imports, including vodka, metals, fertilisers and other commodities. The step is the latest in a series of economic sanctions announced by the government to…
BANGKOK (AP) — Myanmar’s military-led administration has agreed to accept Thai baht as an official currency in border trade dealings and plans a similar arrangement for use of India’s rupee, seeking to limit the country’s reliance on the U.S. dollar in trade. The State Administration Council said Tuesday that Myanmar began allowing direct currency settlements…
