MADRID (Reuters) – Recent interest rate hikes by the European Central Bank should be fully transmitted to savers and reflected in higher deposit rates, ECB Vice-President Luis de Guindos said on Thursday. “A full transmission (of monetary policy) requires the remuneration of savings,” De Guindos told a financial event in the northern Spanish city of…
By Patricia Zengerle WASHINGTON (Reuters) – The U.S. Senate voted overwhelmingly on Wednesday to advance a tax treaty with Chile, paving the way for final approval of a pact seen as crucial for ensuring access for U.S. companies to lithium, a mineral essential for electric vehicle batteries. The agreement cleared a Senate procedural hurdle by…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank would move interest rates at a “careful pace” from here as policymakers edge towards a stopping point for their historic round of monetary policy tightening. “We’re at least close to where we think our…
By John Kruzel and Andrew Chung WASHINGTON (Reuters) – The U.S. Supreme Court on Thursday dealt a setback to the Navajo Nation, rejecting its bid to require the federal government to develop a plan to secure water access for the tribe on reservation lands in the parched American southwest. The justices, in a 5-4 decision…
By Valerie Insinna, Abinaya V and Shivansh Tiwary PARIS (Reuters) -Spirit AeroSystems will suspend factory production on Thursday at its plant in Wichita, Kansas, the company said, after workers rejected a proposed four-year deal and announced a strike to begin on June 24. Spirit is one of the most consequential suppliers for aerospace heavyweights Boeing…
By Pete Schroeder WASHINGTON (Reuters) -U.S. banks are pushing to soften a major regulatory proposal to hike bank capital requirements, worried it could prove too onerous, especially for lenders still reeling from the March banking crisis, according to six people briefed on the matter. Bank regulators led by the U.S. Federal Reserve are finalizing the…
By Ali Kucukgocmen and Can Sezer ISTANBUL (Reuters) -Turkey’s central bank hiked its key rate by 650 basis points to 15% on Thursday and said it would go further in a reversal of President Tayyip Erdogan’s policy, although the post-election tightening missed expectations and the lira fell sharply. In its first meeting under new Governor…
By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Trade Commission on Thursday argued in federal court for a preliminary injunction to temporarily block Microsoft’s acquisition of videogame maker Activision Blizzard, stopping the deal from closing before the government’s case against it is heard. “If this deal is completed, the combined company … is likely to…
By Tim Hepher, Valerie Insinna, Joanna Plucinska and Allison Lampert PARIS (Reuters) – The first Paris Airshow in four years has clocked up billions of dollars in commercial jet orders and offered some respite for suppliers as air travel springs back sharply from the pandemic. The industry returned to Le Bourget with high expectations of…
BRASILIA (Reuters) -Brazil’s Senate on Wednesday approved fiscal rules proposed by President Luiz Inacio Lula da Silva’s government, considered vital in preventing a surge in public debt. The project received 57 votes in favor and 17 votes against. Since the senators modified the text that Brazilian deputies approved, it will require another round of voting…
