By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar’s share of currency reserves reported to the International Monetary Fund rose in the first quarter of the year, in the midst of a still aggressive rate-hike cycle from the Federal Reserve aimed at curbing uncomfortably high inflation. The greenback’s share of reserves rose to 59%…
FRANKFURT (Reuters) – Inflation in the euro zone extended its decline in June as the cost of fuel tumbled, more than offsetting an acceleration in prices for services, a preliminary reading showed on Friday. The data, pointing to only the smallest drop in underlying inflation, was unlikely to sway the European Central Bank, which has…
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Fashion brands are a key driver of demand for green shipping fuels, according to shipping group Maersk, as the sector faces pressure from consumers and regulators to reduce their climate footprint. Retailers ship huge volumes of clothes from production centres in countries such as China, Vietnam and Bangladesh to…
(Reuters) – U.S. consumer spending slowed sharply in May, but persistently strong underlying inflation pressures could compel the Federal Reserve to resume raising interest rates next month. The personal consumption expenditures (PCE) price index gained 0.1% in May after rising 0.4% in April, data from the Commerce Department showed Friday. In the 12 months through…
(Reuters) – The Federal Reserve is seen slightly less locked in to a July interest rate hike, traders bet on Friday, after a government report showed price pressures eased slightly in May but remained far above the Fed’s goal. Inflation by the Fed’s preferred personal consumption expenditures index rose last month at a year-on-year pace…
(This June 28 story has been corrected to add that Archer received certification to conduct flight testing of its demonstrator aircraft in paragraph 7) (Reuters) – Joby Aviation said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its electric air taxi, taking it a step closer to securing approvals…
By Toby Sterling AMSTERDAM (Reuters) -The Dutch government on Friday announced new restrictions on exports of some semiconductor equipment, boosting a U.S.-led drive to curb supplies of high-tech components to China but drawing an angry response from Beijing. “We have taken this step in the interest of our national security” said Dutch Trade Minister Liesje…
(Reuters) – Constellation Brands first-quarter results topped Wall Street expectations on Friday, as the Corona beer maker benefited from higher pricing and steady demand for its alcoholic beverages. Alcohol manufacturers have increased prices to offset soaring costs of raw material, freight, packaging as well as rising wages and overhead expenses. Constellation’s beer business posted an…
DUBLIN (Reuters) – Euro zone inflation is proving “stickier”, meaning the decision on when to stop raising interest rates is not straightforward, European Central Bank governing council member Gabriel Makhlouf was quoted as saying on Friday. “We’ve seen a greater persistence in inflation – it’s stickier. We’re making these decisions meeting by meeting and looking…
By Alexander Marrow (Reuters) -The Russian rouble tumbled past 89 against the dollar for the first time in more than 15 months on Friday, weighed down by domestic political risk concerns after an aborted armed mutiny over the weekend, and lacking any support drivers. By 1156 GMT, the rouble was 1.8% weaker against the dollar…
