By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank raised borrowing costs to their highest level in 22 years on Thursday and left the door open to more hikes, extending its fight against inflation that remains stubbornly high even as the euro zone economy flags. The ECB increased its key interest rate…
By Fergal Smith TORONTO (Reuters) – Canada’s housing market showed further signs of recovery in May following a yearlong slump, data on Thursday showed, a factor that could support additional Bank of Canada interest rate hikes. Canadian home sales rose 5.1% in May from April and were up 1.4% year-over-year, the first increase on an…
By Giuseppe Fonte and Valentina Za ROME (Reuters) – Italy is reassessing how it plans to deal with billions of euros’ worth of loans it guaranteed during the pandemic and energy crises in the event borrowers run into trouble, three people familiar with the matter said. The sources said Prime Minister Giorgia Meloni’s administration has…
By Elizabeth Piper and William James LONDON (Reuters) -Boris Johnson deliberately misled the British parliament in an unprecedented way over rule-breaking parties at his office during COVID-19 lockdowns, a committee said on Thursday in a damning verdict that further tarnished the former prime minister Almost a year ago, Johnson was talking about remaining prime minister…
By Darya Korsunskaya and Alexander Marrow MOSCOW (Reuters) – Faced with a $42 billion budget hole so far this year, Russian officials on Thursday acknowledged the need for more efficient budget spending but clashed over the prudence of further increases in the tax burden. With soaring military spending and sanctions squeezing Russia’s energy revenues, Moscow…
(Reuters) – Haiti has made “significant progress” on governance issues such as transparency, the International Monetary Fund (IMF) said on Thursday, as its management wrapped up a final review of an informal agreement to monitor its economic program. In a second and final review of its Staff-Monitored Program (SMP), approved in June last year, the…
By Lisa Baertlein and Kanjyik Ghosh (Reuters) -The Longshore union and employers of 22,000 dockworkers at U.S. West Coast ports on Wednesday said they have reached a tentative deal on a new six-year contract, ending 13 months of talks and easing supply chain worries. The deal was reached with assistance from Acting U.S. Labor Secretary…
PARIS (Reuters) – The French economy will grow 0.1% in the second quarter of the year, the INSEE statistics agency said, revising down an earlier forecast of 0.2% due to weak household spending and investment. Further out, the euro zone’s second biggest economy is projected to expand by 0.1% in the third quarter and 0.2%…
By Nicolás Misculin BUENOS AIRES (Reuters) – The Clooney Foundation for Justice has accused Venezuelan security forces of crimes against humanity against government opponents since 2014 in a legal complaint filed in Argentina on Wednesday. The foundation said that for lack of a response from Venezuelan authorities, it filed the complaint in Argentina where universal…
(Reuters) – Unilever said on Wednesday it is set to acquire frozen yogurt brand Yasso Holdings in North America, adding to its roster of premium ice-cream brands like Ben & Jerry’s, Magnum, and Talenti. The consumer goods giant said its acquisition of Boulder, Colorado-based Yasso falls in line with its strategy to upscale the ice…
