BEIJING (Reuters) – China plans to take measures to promote household consumption, state media reported on Thursday, citing discussions at a cabinet meeting chaired by Premier Li Qiang, amid concerns about a stuttering post-COVID economic recovery. The meeting came as growth in the world’s second-largest economy has slowed in recent months after coming back to…
ATHENS (Reuters) -Alexis Tsipras, the one-time leftist firebrand who stormed to power on an anti-austerity agenda in Greece in 2015, stepped down from the helm of the Syriza party after 15 years on Thursday, following a heavy election defeat. At the height of Greece’s deep economic crisis, Tsipras, known for sporting his no-tie look, rode…
By Lananh Nguyen NEW YORK (Reuters) – Morgan Stanley’s board will focus on the selection of CEO James Gorman’s successor at its summer and fall meetings, a person familiar with the situation said, while the outgoing boss looks to clear the decks by resolving major regulatory matters. Gorman, who has run the Wall Street giant…
By Naomi Rovnick LONDON (Reuters) – Debt interest rates paid by the world’s riskiest corporate borrowers have reached the highest since 2010, at 6.1% on average, S&P Global Ratings said in a report on Thursday. Such companies, whose weaker financial profiles give them a speculative or “junk” credit rating, also face major refinancing risks in…
By Tetsushi Kajimoto and Jihoon Lee TOKYO/SEOUL (Reuters) – Japan and South Korea agreed on Thursday to revive a $10-billion currency swap deal, a symbolic but significant step as the countries’ leaders seek to improve long-strained ties amid increasing geopolitical risks. The deal was struck between Japanese Finance Minister Shunichi Suzuki and his South Korean…
BRASILIA (Reuters) – Brazil’s central bank joined on Thursday a wave of recent upward revisions for the country’s economic growth this year, guided by a solid first quarter boosted by the agriculture sector. In its quarterly inflation report, the central bank forecasts a 2.0% expansion in gross domestic product (GDP) for 2023, up from the…
SAO PAULO (Reuters) – Brazil’s finance minister has confirmed the country’s monetary council will keep next year’s inflation target at 3%, but reiterated he expects the body to tweak the time frame used to assess the goal’s fulfillment. Fernando Haddad’s remarks in an interview with GloboNews aired late on Wednesday came as markets on Thursday…
By Jan Strupczewski BRUSSELS (Reuters) – European Union leaders will push senior officials on Thursday to find legal ways to funnel proceeds from billions of dollars of frozen Russian assets into projects helping rebuild Ukraine, papers showed. The bloc has said it froze more than 200 billion euros ($218.2 billion) of Russian central bank assets…
MILAN (Reuters) – Luxury sports automaker Ferrari on Thursday unveiled two new plug-in hybrid models, produced in limited series and hitting the top end of the its price range. Based on 2019’s SF90 Stradale supercar, the Prancing Horse’s first ever series hybrid car, the two new road-homologated models are inspired by Ferrari’s XX programme. The…
A look at the day ahead in U.S. and global markets from Mike Dolan Emboldened by still-punchy U.S. economic activity, the Federal Reserve is gradually gaining market traction with a campaign to flag two more interest rate rises this year – bolstering the dollar, particularly in Asia. And after a mixed week for chip stocks,…
