FRANKFURT (Reuters) – The European Central Bank will need to raise interest rates “several” more times and then must hold rates steady for some time before inflation is fully tamed, Bundesbank President Joachim Nagel said on Tuesday. The ECB has lifted rates by a combined 375 basis points since last July and promised further policy…
By Karen Freifeld and David Shepardson WASHINGTON (Reuters) -The U.S. Senate’s top Democrat said on Tuesday he and President Joe Biden’s administration were engaging allies and businesses to address China’s ban on sales of memory chips made by U.S.-based Micron Technology Inc. The restrictions this week by China’s cyberspace regulator against Micron, the biggest U.S….
By Karen Freifeld and David Shepardson WASHINGTON (Reuters) -The U.S. Senate’s top Democrat said on Tuesday he and President Joe Biden’s administration were engaging allies and businesses to address China’s ban on sales of memory chips made by U.S.-based Micron Technology Inc. The restrictions this week by China’s cyberspace regulator against Micron, the biggest U.S….
MEXICO CITY (Reuters) – Mexico’s headline inflation likely slowed in the first half of May to its lowest level in 19 months, a Reuters poll on Tuesday showed, backing views of a sustained decline in consumer prices and that the central bank will keep its benchmark rate on hold. The median forecast of 13 analysts…
(Reuters) -GQG Partners has raised its stake in Gautam Adani’s conglomerate by about 10% and will take part in the group’s future fundraising, the U.S. investment firm said on Tuesday. Although the company did not disclose the total value of its stake in its statement, GQG Chief Investment Officer Rajiv Jain told Bloomberg News that…
By Stephen Nellis (Reuters) -Apple Inc on Tuesday said it has entered a multi-billion-dollar deal with chipmaker Broadcom Inc to use chips made in the United States. Under the multi-year deal, Broadcom will develop 5G radio frequency components with Apple that will be designed and built in several U.S. facilities, including Fort Collins, Colorado, where…
By Niket Nishant (Reuters) -PacWest Bancorp’s shares rose nearly 13%, extending gains from the previous session driven mostly by news that the lender would sell $2.6 billion worth of its loan portfolio to bolster its finances. The stock was trading up at $7.06 on Tuesday, helping to lift the shares of other regional lenders with…
ZURICH (Reuters) – Credit Suisse senior managers will have their outstanding bonus payments for 2022 either cancelled or reduced following an order issued on Tuesday by the Swiss Finance Ministry. The order affects the top three levels of Credit Suisse management and follows the multi-billion franc state rescue of Switzerland’s second biggest bank. Governments rarely…
By Daniel Trotta (Reuters) – A Florida restaurant that puts on what it calls family-friendly drag performances sued Governor Ron DeSantis and the state of Florida on Monday to halt enforcement of a new law banning minors from attending such shows. Hamburger Mary’s, an Orlando bar and restaurant that presents drag show performances, comedy sketches…
By Shreyashi Sanyal and Shristi Achar A (Reuters) – Wall Street indexes were subdued on Tuesday as talks over increasing the U.S. debt limit stretched to another round, keeping investors jittery on prospects of an unprecedented government default. White House and congressional Republican negotiators will meet again later in the day to discuss how to…
