(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…
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…
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…
MADRID (Reuters) -U.S. buyout firm Apollo made a cash bid for Applus Services on Friday which values the Spanish industrial testing company at 1.23 billion euros ($1.33 billion). Apollo said in a filing to Spain’s stock market regulator that it had offered 9.50 euros in cash per Applus share, a 1.9% premium over Thursday’s closing…
(Reuters) – U.S. equity funds attracted inflows during the week ending June 28, buoyed by positive growth expectations as robust economic indicators eased concerns about higher borrowing costs. Investors purchased U.S. equity funds of a net $2.1 billion after disposing of about $16.5 billion worth of funds in the previous week, data from Refinitiv Lipper…
KYIV (Reuters) -Ukraine will receive $1.5 billion from the World Bank to support reconstruction and recovery, Prime Minister Denys Shmyhal said on Friday. The funds will be provided with guarantees from the Japanese government and channeled to support social security and economic development, Shmyhal, whose country has been invaded by Russia, said on the Telegram…
By Diana Mandia (Reuters) -French catering and food services group Sodexo on Friday raised the full-year outlook of its voucher business for the second time this year as it benefits from companies’ attempts to get employees back to the office. Employers have turned to companies like Sodexo and Edenred to offer vouchers to staff as…
BEIJING (Reuters) – China’s central bank said on Friday it will increase its relending and rediscount quotas by 200 billion yuan ($27.53 billion) to support the farm sector and small firms, amid faltering economic recovery. The world’s second-biggest economy lost momentum in the second quarter following a strong post-COVID rebound in consumption, spurring calls for…
