(Reuters) – Digital World Acquisition Corp, a blank-check firm that is set to merge with former U.S. President Donald Trump’s media and technology company, on Thursday named Katherine Chiles as its chief financial officer. The development comes after Digital World in March ousted Chief Executive Patrick Orlando, saying that due to “unprecedented headwinds faced by…
By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) – A gauge of global stocks rallied and bond yields were steady on Thursday after moderating U.S. producer prices and a jump in weekly jobless claims bolstered bets that the Federal Reserve may soon pause its hiking of interest rates to tame high inflation. Gold hit…
By Shariq Khan BENGALURU (Reuters) -Oil prices fell a dollar a barrel on Thursday, as an OPEC report stoked summer demand worries and traders took profits after benchmarks scaled multi-month highs in the previous session. Brent crude fell $1.24, or 1.4%, to settle at $86.09 a barrel, only the second time this month that the…
By Andrea Shalal WASHINGTON (Reuters) -World Bank President David Malpass on Thursday said progress on sovereign debt issues would be measured by actual restructuring deals being agreed for Ghana, Ethiopia and Zambia, and said there was still no agreement on his longstanding call for a standstill in debt service payments for countries seeking help. Speaking…
By Karen Brettell NEW YORK (Reuters) – The dollar fell to a two-month low against a basket of currencies and a one-year low against the euro on Thursday after U.S. producer prices unexpectedly fell in March, boosting expectations that the Federal Reserve is near the end of its rate hiking cycle. The producer price index…
(Reuters) – After central banks across Latin America and the Caribbean raised rates to battle inflation, the International Monetary Fund is now pointing at less spending from governments to help slow down price pressures – while reminding the region’s rich to pay more taxes. “Fiscal policy can help monetary policy in reducing demand pressures,” the…
By Mike Scarcella (Reuters) – Food and drug retailer Kroger Co on Wednesday asked a U.S. judge to dismiss as “speculative” a consumer antitrust lawsuit alleging the company’s proposed $24.6 billion acquisition of rival Albertsons Companies Inc would lessen grocer competition and drive up prices. Lawyers for Kroger said in a filing in California federal…
By Diane Bartz WASHINGTON (Reuters) -Google faced pointed questions from a judge on Thursday as it argued that the U.S. Justice Department’s allegations that it broke antitrust law to build and maintain its dominance of search are flawed and that the agency’s lawsuit should be thrown out. The government, which filed its lawsuit in the…
By Eric Onstad and Niket Nishant LONDON/BENGALURU (Reuters) -JPMorgan Chase & Co has dropped or cut credit lines to a large number of Indian metals clients, sending them looking for new brokers, the head of Nanhua Financial UK told Reuters. JPMorgan declined to comment. Reuters reported last September that JPMorgan had pared back credit to…
By Michael S. Derby (Reuters) – Ongoing stress in the New York City commercial real estate sector is still creating economic headwinds for the region as it nears a complete recovery from the coronavirus pandemic, and it’s unclear when or if the sector will return to its prior strength, the New York Fed said Thursday….
