By Olena Harmash and Ivan Lyubysh-Kirdey KYIV/KOSTIANTYNIVKA, Ukraine (Reuters) -Moscow acknowledged on Friday that its forces had fallen back north of Ukraine’s battlefield city of Bakhmut after a new Ukrainian offensive, in a retreat that the head of Russia’s Wagner private army called a rout. The setback for Russia, which follows similar reports of Ukrainian…
NEW YORK (Reuters) – The Credit Derivatives Determinations Committee (DC) accepted on Friday to look into a question on whether a “governmental intervention credit event” occurred with respect to Credit Suisse. The DC overlooking Europe will have to determine specifics of the subordination of Credit Suisse’s additional tier-1 (AT1) bonds, according to the DC website….
By Ann Saphir, Andrea Shalal and Jeff Mason WASHINGTON (Reuters) -U.S. President Joe Biden on Friday nominated Federal Reserve Governor Philip Jefferson to be the central bank’s vice chair, a key policy advisory role recently vacated when Lael Brainard took a top position in Biden’s White House economics team. Biden also nominated the World Bank’s…
By Miguel Lo Bianco and Hernan Nessi BUENOS AIRES (Reuters) -Argentina’s annual inflation rate soared to 109% in April, the country’s statistics agency said on Friday, smashing past analyst forecasts and stoking anger among hard-hit consumers who are increasingly having to skimp and save to get by. The South American nation, an important grains exporter…
By Laura Matthews NEW YORK (Reuters) – The U.S. dollar rose against the euro and sterling on Friday, and was on track for its biggest weekly gain since February, as investors shifted to safe havens after consumer sentiment data fueled concern about the U.S. debt ceiling and monetary policy. A University of Michigan survey on…
(Reuters) – The U.S. Trade Representative’s Office said on Friday it was extending exclusions from tariffs for 77 of 81 Chinese medical product import categories related to the COVID-19 pandemic. (Reporting by Jasper Ward and Doina Chiacu)
NEW YORK (Reuters) – Bond trading platform Tradeweb is in talks with clients, industry groups and other market participants about contingency plans in case of a U.S. debt default, a spokesperson said on Friday. Financial markets are jittery about the possibility that the U.S. Treasury could miss debt payments as President Joe Biden and top…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks fell Friday afternoon, led by weaker technology-related shares following their recent rally, as data showed U.S. consumer sentiment dropped to a six-month low. Tesla Inc shares slid 2.4% after jumping more than 2% on Thursday, when Elon Musk announced he had found a new chief executive…
By Moira Warburton WASHINGTON (Reuters) – Lawmakers in the U.S. Congress should have their pay frozen until the fight over whether to increase the country’s debt ceiling is resolved, Democratic Representative Abigail Spanberger said in a letter on Friday. “If the American people and the American economy are suffering as a result of congressional…
By Jeff Mason WASHINGTON (Reuters) – President Joe Biden is expected to meet with Republican House Speaker Kevin McCarthy and other congressional leaders early next week to resume budget negotiations and resolve a looming default on the nation’s debt, White House spokesperson Karine Jean-Pierre said on Friday. The leaders had canceled a planned meeting on…
