(Reuters) – U.S. existing home sales ticked higher in May to snap a two-month skid with condominium sales accounting for the modest gain, and selling prices nationally fell from a year earlier by the most in more than a decade, showing the uneven nature of the sector’s recovery from last year’s downdraft. Existing home sales…
By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve Gov. Michelle Bowman said Thursday that “additional policy rate increases” will be needed to control inflation she feels has essentially flatlined at a high level since late last year. The U.S. central bank “has made progress in lowering inflation, but despite the significant tightening of monetary…
(Reuters) -Mexico’s annual inflation hit its lowest in more than two years ahead of a monetary policy decision on Thursday that is expected to leave interest rates at a cycle high as the consumer price index remains above target. In Latin America’s second largest economy, 12-month headline inflation reached 5.18% in the first half of…
By Shadia Nasralla LONDON (Reuters) -Oil futures fell on Thursday, with trader concern over the impact of a bigger-than-expected Bank of England rate hike outweighing potentially bullish U.S. oil inventory data after preliminary figures showed a fall in stocks. Brent futures dropped by $2.22, or 2.9%, to $74.90 a barrel by 1336 GMT and U.S….
PARIS (Reuters) – The International Monetary Fund has reached its target of making $100 billion in special drawing rights available for vulnerable countries, Managing Director Kristalina Georgieva told a summit held in Paris on Thursday. Rich countries agreed in 2021 to rechannel some of their unused IMF special drawing rights, an international reserve currency, to…
(Reuters) -A tornado ripped through the northern Texas town of Matador on Wednesday, killing four people and injuring several others while damaging at least a dozen buildings, officials said. Touching down at 8 p.m. local time (0100 GMT), the “unprecedented tornado” brought high gusting and battering winds to the small community of about 600 residents,…
LONDON (Reuters) – Inflation is cooling, meaning major central banks can start to think about ending interest rate hikes even if most are not there just yet. The Bank of England, an outlier in some ways given the persistence of British inflation, on Thursday raised its benchmark rate by a bigger-than-expected half a percentage point….
By Davide Barbuscia NEW YORK (Reuters) -A hawkish tilt from Federal Reserve Chair Jerome Powell hasn’t been enough to convince some investors that the central bank is unlikely to hold U.S. interest rates at elevated levels for much longer. Testifying to U.S. lawmakers, Powell on Wednesday said the Fed had a “long way to go”…
By Nikolaj Skydsgaard COPENHAGEN (Reuters) -A thyroid cancer safety signal was raised by the EU’s drugs watchdog last month over several Novo Nordisk products including semaglutide, which is used in popular diabetes and obesity medicines Ozempic and Wegovy. The European Medicines Agency (EMA) raised the safety signal, which is a way to monitor potential adverse…
By Tom Sims FRANKFURT (Reuters) -Deutsche Bank is drawing up plans to cut 10% of its 17,000 German retail jobs over the next few years as part of cost savings, a person with knowledge of the matter said on Thursday. The plans at Germany’s largest bank come as Claudio de Sanctis prepares to take over…
