By Jamie McGeever ORLANDO, Florida (Reuters) – For all the hullabaloo about the world weaning itself off the U.S. dollar, hard numbers show that both central banks and private sector institutions continue to increase their holdings of dollar-denominated bonds. Despite several recent reports of reserve diversification, “geo-economic” realignment and China’s move to lift usage…
By Mike Stone and Pratyush Thakur (Reuters) -General Dynamics Corp on Wednesday reported a 5.2% rise in quarterly revenue, boosted by strong demand for munitions amid geopolitical instability caused by Russia’s full scale invasion of Ukraine. Shares were down 5.5% to $210.40 during early trading in New York after Chief Executive Officer Phebe Novakovic warned…
By Chris Taylor NEW YORK (Reuters) – Here is a good rule of thumb for entrepreneurs: Opportunity does not always look like what you expect. In fact, sometimes it looks like its exact opposite. It might come in the form of a phone call famed sportscaster Rich Eisen got while at the Los Angeles airport…
(Reuters) – Copper miner Teck Resources on Wednesday said it has withdrawn its proposed restructuring plan ahead of a shareholder vote on the proposal amid Swiss mining giant Glencore Plc’s attempts to buy the company. Here is the snapshot of key events in the saga so far. Date Development March Glencore privately offers to merge…
By Gabriel Araujo SAO PAULO (Reuters) -Brazil’s inflation slowed more than expected and reached its lowest since late 2020 in the year to mid-April, a reading the government is likely to see as backing its calls for an interest rate cut even as the central bank maintains a hawkish tone. The country’s IPCA-15 inflation index…
BUDAPEST (Reuters) – The Hungarian government’s call for a ceasefire in neighbouring Ukraine is “cynical” given large swathes of the country are occupied by invading Russian forces, the U.S. Ambassador to Budapest David Pressman said on Wednesday. The U.S. envoy did not mention Prime Minister Viktor Orban by name, but Hungary’s leader has repeatedly called…
BERLIN (Reuters) -The German government has raised its economic growth forecast for this year to 0.4% from a previously predicted 0.2%, according to its spring economic projections published on Wednesday and first reported by Reuters last week. “A gradual recovery is underway, despite a persistently difficult environment,” German Economy Minister Robert Habeck said. He expects…
By Jan Strupczewski BRUSSELS (Reuters) -The European Commission proposed on Wednesday that, under a reform of the EU’s fiscal rules, governments should ensure public debt falls by an individually negotiated amount over four years and stays on a downward path for a decade afterwards. The proposal, which sets no numerical target for how much the…
(Reuters) – The closure of two U.S. regional banks in March shook investor confidence in the banking industry and drove spooked customers to seek refuge in “too-big-to-fail” institutions or money market funds for higher yields. First Republic Bank said on Monday deposits plunged by more than $100 billion in the first quarter and it was…
WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed sharply in March as exports surged and imports declined, which augurs well for economic growth in the first quarter. The goods trade deficit contracted 8.1% last month to $84.6 billion, the Commerce Department said on Wednesday. Exports of goods increased $4.9 billion to $172.7 billion….
