BOGOTA (Reuters) – Colombia risks falling out of compliance with its fiscal rule through greater spending proposed for 2024 and the financial impact of reforms being debated in Congress, an independent committee warned on Monday. Finance Minister Ricardo Bonilla has said the government would respect the 2011 rule which imposes constraints on fiscal policy to…
By Matteo Allievi and Shreyashi Sanyal (Reuters) -European shares inched higher on Monday with the travel & leisure sector leading gains, helping to limit the impact of weak inflation data from China that highlighted sluggish demand in the world’s second-largest economy. The pan-European STOXX 600 index ended 0.2% higher after recording its worst weekly performance…
By Marc Jones LONDON (Reuters) -The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered said on Monday, predicting the recent jump in its price could encourage bitcoin “miners” to hoard more of the supply. Standard Chartered published a $100,000 end-2024 forecast for bitcoin back…
NEW YORK/LONDON (Reuters) – Global hedge funds added more Chinese stocks to their portfolios than they sold in recent days for the first time in seven weeks, Goldman Sachs Group said in a report. The move seen in onshore and offshore shares was mainly driven by short covers, according to Goldman Sachs. It means that…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Monday repeated that she believes two more rate hikes this year will likely be needed to bring down too-high inflation in the face of a strong labor market. “We’re likely to need a couple more rate hikes over the course of this year to…
By David Milliken and Andy Bruce LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Monday the British central bank had to “see the job through” on bringing down an inflation rate that is running higher than in any other major rich economy. Bailey, under pressure from politicians and some economists over the surge…
By Rod Nickel and Victoria Klesty (Reuters) – Without a single sales contract in hand, Dutch fertilizer company OCI is building a $1 billion plant in Texas to produce ammonia with low greenhouse gas emissions, a gamble requiring heavy government subsidies, new markets and a contingency plan. OCI’s plant would be the world’s first new…
By Timothy Aeppel and Ben Klayman MARSHALL, Michigan (Reuters) – Fred Chapman has a message for Ford Motor Co, which is planning to build a sprawling factory on the outskirts of this town to make batteries for electric cars and which promises to employ 2,500 people. “We don’t need jobs,” he says. That’s a surprising…
By Laura Sanicola (Reuters) -U.S. Senate Majority Leader Chuck Schumer on Sunday called on regulators to investigate a popular influencer-created energy drink with nearly twice the caffeine of a Red Bull, saying it was being marketed to children. Schumer said Prime, a beverage brand started last year by YouTube stars Logan Paul and KSI, should…
BRASILIA (Reuters) – President Luiz Inacio Lula da Silva’s government will not wait for Brazil’s Congress to finish voting on a tax reform related to consumption before submitting its proposal for an income tax reform, Finance Minister Fernando Haddad said on Monday. Haddad said in an interview with podcast “O Assunto” that the planned change…
