By David Randall (Reuters) – A widely watched section of the U.S. Treasury yield curve hit its deepest inversion on Monday since the high inflation era of Fed Chairman Paul Volcker, reflecting financial markets’ concerns that an extended Federal Reserve rate hiking cycle will tip the United States into recession. The closely-watched spread between the…
(Reuters) -Tesla Inc on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable. The Elon Musk-led company handed 466,140 vehicles in the April to June period, up 10% from the preceding quarter, and 83%…
By Kirstin Ridley LONDON (Reuters) -Mozambique’s blockbuster lawsuit against Credit Suisse and others over the $2 billion “tuna bond” scandal can proceed to trial, a London judge ruled on Monday, despite complaints that the African nation has failed to fully disclose documents. High Court Judge Robin Knowles said it was not just, proportionate or necessary…
WASHINGTON (Reuters) – U.S. construction spending increased more than expected in May as a severe shortage of houses for sale boosted outlays on single-family homebuilding. The Commerce Department said on Monday that construction spending rose 0.9% after gaining 0.4% in April. Economists polled by Reuters had forecast construction spending increasing 0.6%. Construction spending advanced 2.4%…
BRASILIA/SAO PAULO (Reuters) – Private economists in Brazil anticipate deeper monetary easing this year and improved inflation prospects until 2026 following the government’s decision to maintain the country’s inflation goal at 3%, a weekly central bank poll showed on Monday. President Luiz Inacio Lula da Silva has consistently blasted the country’s central bank for keeping…
LONDON (Reuters) – U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a report on Monday, with states such as California and Florida increasingly hit by wildfires and hurricanes. Reinsurers insure insurance companies, and have been raising rates in recent years…
(Reuters) – Blackstone Real Estate Income Trust (BREIT) said on Monday that redemption requests declined in June after months of turmoil that led to the private equity firm limiting investor withdrawals. “In June 2023, BREIT received $3.8 billion in requests under the Repurchase Plan, which is 29% lower than the peak in January 2023 and…
LONDON (Reuters) – Megan Greene, who is due to join the Bank of England’s Monetary Policy Committee this week, said central banks should not assume that interest rates will settle back down at their pre-coronavirus levels along with lower inflation. In a column published by the Financial Times on Monday, Greene said it was unclear…
(Updates June 30 story with new headline) By David Stanway SINGAPORE (Reuters) -The target of keeping long-term global warming within 1.5 degrees Celsius (2.7 Fahrenheit) is moving out of reach, climate experts say, with nations failing to set more ambitious goals despite months of record-breaking heat on land and sea. As envoys gathered in Bonn…
SANTIAGO (Reuters) – Chile’s economic activity index fell for the fourth consecutive month in May, the central bank said on Monday, underscoring the economic headwinds faced by the world’s largest producer of copper amid high interest rates. The IMACEC index, a close proxy of gross domestic product (GDP), dropped 2% in May from the same…
