By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to a seven-week high on Wednesday, boosted by optimism about a deal to extend the debt ceiling and avert a U.S. default and amid a round of solid economic data that suggests rate cuts from the Federal Reserve could come later rather than sooner. The…
By Laura Sanicola (Reuters) -Oil prices settled up about $2 on Wednesday as optimism over oil demand and U.S. debt ceiling negotiations outweighed worries about abundant supply. Brent crude futures settled up $2.05, or 2.7%, to $76.96 a barrel. West Texas Intermediate U.S. crude settled up $1.97 or 2.8% to $72.83. “Today’s strong oil trade…
By Simon Lewis WASHINGTON (Reuters) -Myanmar’s military has imported at least $1 billion in arms and other material since it staged a coup in February 2021, a UN expert said on Wednesday in a new report that calls out Russia and China for aiding the junta’s deadly campaign to crush its opposition. Since the military…
SAO PAULO (Reuters) – Brazil’s antitrust regulator Cade on Wednesday recommended the approval of the sale of Natura & Co’s Aesop brand to French cosmetics company L’Oreal, according to the country’s daily gazette. Last month, L’Oreal agreed to buy Australian luxury brand Aesop from Natura for an enterprise value of $2.53 billion. Under the regulator’s…
WASHINGTON (Reuters) – House Speaker Kevin McCarthy said on Wednesday that a deal to raise the U.S. debt ceiling limit was “do-able” by Sunday, the day President Joe Biden said he intended on holding a news conference on the issue. (Reporting by David Morgan; Writing by Doina Chiacu; Editing by Tim Ahmann)
By Sakura Murakami HIROSHIMA, Japan (Reuters) – The last time a U.S. president visited Hiroshima, atomic bomb survivor Shigeaki Mori was filled with hope for a future without nuclear weapons. Seven years later, he’s more sceptical. As leaders of the Group of Seven (G7) nations gather in the Japanese city this week for a summit,…
(Reuters) – Russia’s economy shrank 1.9% year-on-year in the first quarter of 2023, data from the Rosstat federal statistics service showed on Wednesday, following growth of 3% in the same period of last year. Russia’s economy defied early expectations of a double-digit collapse in 2022, but still contracted 2.1% after the West imposed sanctions in…
(Reuters) – Russia confirmed on Wednesday that a deal to allow Ukraine to export its grain safely across the Black Sea, despite Russia’s war in Ukraine, had been extended for two months. Foreign Ministry spokeswoman Maria Zakharova said the deal had been extended to help countries in need, but added that Russia’s overall assessment of…
By Rodrigo Campos NEW YORK (Reuters) – A measure of debt across the globe rose in the first quarter to almost $305 trillion, and the rising cost to service that debt is triggering concern about the financial system’s leverage, a widely tracked study showed. The Institute of International Finance, a financial services trade group, said…
By Asif Shahzad ISLAMABAD (Reuters) -Former Pakistani Prime Minister Imran Khan said on Wednesday that police had surrounded his house and that he expected to be rearrested soon, after the government warned him to hand over supporters who it blamed for attacks on the army. Khan was arrested by the army on May 9 on…
