By Libby George LONDON (Reuters) – Turkey’s lira weakened to a record low against the dollar on Thursday, after incumbent Tayyip Erdogan’s lead in presidential elections surprised markets, while the nation’s sovereign dollar bonds steadied after a three-day post-election rout. The cost of insuring the country’s debt against default fell slightly, but equity markets and…
By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% on Thursday after solid U.S. economic data spurred the dollar to reach a two-month high on growing expectations the U.S. Federal Reserve could raise interest rates again in June. Brent futures fell $1.10, or 1.4%, to settle at $75.86 a barrel. U.S. West Texas…
By Tom Polansek MANHATTAN, Kansas (Reuters) – Wheat yield potential in Kansas was estimated at 30.0 bushels per acre (bpa) on Thursday by crop scouts on an annual Wheat Quality Council tour, the lowest since at least 2000. The figure in the biggest U.S. winter wheat producer is below the five-year crop tour average of…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks were mixed and the dollar reached a seven-week peak on Thursday as discount retail giant Walmart Inc raised its sales outlook and strong economic data calmed recession fears while dampening hopes the Federal Reserve would cut interest rates before year-end. Investors were closely monitoring the debt…
WASHINGTON (Reuters) -The U.S. Air Force intends to award a contract in 2024 for its sixth-generation fighter jet as it races to retain its edge against rapid advances in Chinese military technology, the service said on Thursday. Lockheed Martin Corp, Boeing Co and Northrop Grumman Corp are expected to compete for the Next Generation Air…
NEW YORK (Reuters) – The negative impact of currency fluctuations on North American companies’ results fell in the fourth quarter of 2022 compared with the previous quarter, data from treasury and financial management firm Kyriba showed on Thursday. The collective exchange-rate hit, including on companies in the United States, Canada and Mexico, was $28.94 billion…
(Reuters) – U.S. inflation does not look like it is cooling fast enough to allow the Federal Reserve to hit pause on the interest-rate hike campaign it began more than a year ago, two Fed policymakers said on Thursday. The remarks, from Dallas Federal Reserve Bank President Lorie Logan and St. Louis Fed President James…
(Reuters) – Egypt’s central bank kept its overnight interest rates unchanged on Thursday, saying that growth had slowed in the fourth quarter and international commodity prices were easing. As forecast by analysts, the bank left its lending rate at 19.25% and deposit rate at 18.25%, its Monetary Policy Committee (MPC) said in a statement. “Domestically,…
(Reuters) – The U.S. Consumer Product Safety Commission (CPSC) on Thursday approved a repair for a rear guard of Peloton Interactive Inc’s recalled ‘Tread+’ treadmill. The fitness equipment maker had announced a costly recall of its ‘Tread+’ treadmill in 2021 following the reports of multiple injuries and the death of a child in an accident….
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem suggested April’s inflation increase – the first in 10 months – was an anomaly and said consumer prices would continue to come down, prompting markets to pare expectations for another hike. The central bank has been warning Canadians that rates could…
