LONDON (Reuters) -The Bank of England on Thursday proposed further reforms to capital rules for insurers in a step it said would cut red tape without lowering solvency standards. The Solvency II rules were inherited from the European Union and their reform is seen by the insurance industry and by lawmakers who supported Britain’s exit…
By Padraic Halpin DUBLIN (Reuters) -The Federal Reserve will have to increase rates if prices growth moves away from target or inflation expectations start to move in “a difficult way”, Atlanta Federal Reserve President Raphael Bostic said, while adding that neither was happening right now. While Chair Jerome Powell said on Thursday that most Fed…
By Maria Martinez BERLIN (Reuters) -German inflation rose more than expected in June, interrupting a steady decline since the start of the year in what analysts say was just a blip. German consumer prices, harmonised to compare with other European Union countries, rose by a higher-than-anticipated 6.8% on the year in June, preliminary data from…
By Tom Hals WILMINGTON, Delaware (Reuters) – A prominent U.S. lawsuit to ban the abortion pill mifepristone has focused on the drug’s safety and approval process. But the outcome may ultimately rest on a different issue: whether Ingrid Skop, an anti-abortion doctor in Texas, and other physicians behind the lawsuit can justify suing in the…
By Joe Cash BEIJING (Reuters) – The value of Chinese debt relief decreased by over 50% between 2021 and 2022, a report from Rhodium Group showed, with Angola alone receiving two thirds of deferrals despite China backing multilateral efforts to standardise support for poor countries. As the world’s largest bilateral creditor, China is central to…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Thursday the country’s inflation targets were excessively rigid and renewed criticism of the central bank for high interest rates ahead of a meeting that will set its 2026 inflation goals. Lula’s remarks came as financial markets closely watch the National Monetary Council’s…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to continued labor market strength. Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 239,000 for the week ended June 25, the Labor Department said on Thursday. Economists polled by Reuters had forecast 265,000…
FRANKFURT (Reuters) – German regulators have told Binance they will not grant it a cryptocurrency custody licence, a person with direct knowledge of the matter said on Thursday, the latest in a string of setbacks for the world’s biggest cryptocurrency exchange. Binance has come under pressure from regulators around the world. The U.S. Securities and…
STOCKHOLM (Reuters) – H&M plans to sell more third-party brands online and in stores, CEO Helena Helmersson said on Thursday, as one of the world’s top fashion retailers ramps up its effort to take on e-commerce rivals. Shoppers can already buy sneakers from brands including Adidas and New Balance, and clothes brands like Swedish mountaineering…
By Duncan Miriri and Marc Jones NAIROBI/LONDON (Reuters) – As Pakistan spiralled into crisis this year, Wilson Muthaura pressed its government to put the tea Kenya’s KTDA co-operative produces 3,400 miles away on a list of essentials that would grant importers access to precious U.S. dollars. His urgent lobbying reflects anxiety about a scarcity of…
