By Howard Schneider WASHINGTON (Reuters) -Inflation for a broad array of services in the United States remains “stubbornly high,” Federal Reserve Governor Philip Jefferson said Monday, though slower-growing wages might help slow prices in those parts of the economy as well. Though the Fed has seen some progress in slowing price increases for goods and…
MEXICO CITY (Reuters) – President Andres Manuel Lopez Obrador is holding a call on Monday morning with Tesla Inc. Chief Executive Elon Musk, two officials said, after the Mexican leader revealed he would be talking to the “owner” of the electric vehicle maker. Lopez Obrador made his remark as he was finishing a regular morning…
By Lawrence Delevingne and Amanda Cooper (Reuters) -Wall Street and global shares rebounded on Monday on positive economic data, but were still near six-week lows as investors remained nervous that they should prepare for higher interest rates in the United States and Europe. U.S. core capital goods orders accelerated in January, beating forecasts, according to…
WASHINGTON (Reuters) – New orders for key U.S.-manufactured capital goods increased more than expected in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose…
By Amanda Cooper LONDON (Reuters) -Global shares rose on Monday, but skimmed six-week lows, after another round of data last week forced investors to prepare for higher interest rates in the United States and Europe and there could be more figures to underpin that argument this week. U.S. manufacturing and services data, as well as…
By Shivani Tanna (Reuters) – Roger Ng, the former Goldman Sachs Group Inc banker convicted for helping to embezzle Malaysia’s 1MDB sovereign wealth fund, appealed to a New York court on Saturday not to force him to spend more time in prison. In anticipation of his sentencing hearing scheduled for March 9, Ng’s lawyers asked…
(Reuters) – The Bank of England (BoE) will likely raise interest rates by a further 25 basis point (bps) in June as more monetary policy tightening may be needed to tame underlying sticky inflation, J.P. Morgan said in a note on Friday. Strong business activity and consumer confidence data last week challenged the central bank’s…
By Mohi Narayan and Sudarshan Varadhan (Reuters) -Oil prices fell in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia’s plans to deepen oil supply cuts. West Texas Intermediate U.S. crude futures (WTI) traded at $75.98 a barrel, 34 cents, or 0.5% lower, while Brent crude…
SHANGHAI/LONDON (Reuters) – CATL, the world’s largest battery maker, has offered to cut costs for Chinese automakers, a move that demonstrates its market power and could also widen China’s cost advantage in electric vehicles. China’s CATL has offered smaller domestic electric-vehicle makers discounted prices on batteries, according to four people with knowledge of the terms….
By Ankur Banerjee SINGAPORE (Reuters) – The dollar held firm near a seven-week peak on Monday, after a slew of strong U.S. economic data reinforced the view that the Federal Reserve will have to raise interest rates further and for longer. Data on Friday showed U.S. consumer spending rebounded sharply in January, while inflation accelerated….
