By Howard Schneider ATLANTA (Reuters) – One more quarter-percentage-point interest rate hike can allow the Federal Reserve to end its tightening cycle with some confidence inflation will steadily return to the U.S. central bank’s 2% target, Atlanta Fed President Raphael Bostic said. Recent inflation data, including this week’s reports of slowing consumer price increases and…
By Dominique Patton BEIJING (Reuters) – China’s agriculture ministry issued a three-year action plan on Friday to reduce soymeal use in animal feed as it tries to reduce its heavy reliance on soybean imports. The new plan proposes soymeal ratios in animal feed should be reduced to less than 13% by 2025, from 14.5% in…
By Joe Cash BEIJING (Reuters) -China reiterated it is willing to work with all parties to implement the Common Framework for debt disposal on Friday but stopped short of dropping its demand that multilateral development banks share in debt restructuring losses. Beijing’s refusal to budge on this issue is a major roadblock to debt relief…
BERLIN (Reuters) – German Finance Minister Christian Lindner is planning an austerity package with a volume of up to 20 billion euros ($22.12 billion), Germany’s Der Spiegel reported on Friday. With the cuts, Lindner wants to close the funding gaps in the 2024 budget and at the same time create some leeway for unavoidable additional…
RIO DE JANEIRO (Reuters) – Brazilian Defense Minister Jose Mucio said late Thursday that countries such as Sweden and Colombia had expressed interest in buying Embraer’s KC-390 military cargo aircraft. Mucio said he held nearly 20 bilateral meetings during the LAAD defense and security fair this week and, in some of them, the KC-390 was…
By Asif Shahzad and Gibran Naiyyar Peshimam ISLAMABAD (Reuters) -The United Arab Emirates has confirmed financial support of $1 billion to Pakistan, the South Asian nation’s finance minister said on Friday, removing a key hurdle to securing a much-awaited bailout tranche from the International Monetary Fund. The commitment is one of the IMF’s last requirements…
By Mimosa Spencer PARIS (Reuters) -Sales at Birkin bag maker Hermes rose 23% in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil. Shares were up 1% in morning trading. Hermes finance chief Eric du Halgouet told journalists…
BEIJING (Reuters) -China’s central bank said on Friday it will maintain ample liquidity, stabilise growth and jobs and focus on expanding domestic demand, as the economy steadily picks up after lifting COVID-19 curbs. The People’s Bank of China will make its prudent monetary policy precise and forceful and provide strong support for the real economy,…
By Yuka Obayashi and Katya Golubkova SAPPORO, Japan (Reuters) -Canada is ready to become a reliable provider of critical minerals to its international allies including Japan, a senior official said, as the Group of Seven (G7) countries deem such minerals essential for climate goals and energy security. Canada has signed a joint action plan with…
(Reuters) – U.S. money market funds received inflows for a fifth straight week after recent data pointed to a still-strong labor market, bolstering bets for a rate hike by the Federal Reserve in May. According to Refinitiv Lipper data, U.S. money market funds drew a net $20.51 billion worth of inflows in the week to…
