BUENOS AIRES (Reuters) – The World Bank and the Inter-American Development Bank (IDB) will provide Argentina with funds totaling over $1 billion, the South American nation’s economy ministry said on Wednesday, adding these should go toward development and energy projects. The move comes as cash-strapped Argentina battles to rework its debts and comply with financing…
By Katherine Masters NEW YORK (Reuters) – Republican leaders of two House committees are requesting United States Postal Service data on retailers’ goods shipped from China under an exemption in U.S. trade law that excludes some packages worth $800 or less from tariffs. The exemption, known as the de minimis rule, has earned growing scrutiny…
By Marc Jones LONDON (Reuters) – A total of 130 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half in advanced development, pilot or launch stages, a closely-followed study shows. The research by the U.S.-based Atlantic Council think tank published on Wednesday said significant progress over…
By Sinéad Carew, Sruthi Shankar and Johann M Cherian (Reuters) – The Nasdaq managed a small gain on Wednesday with support from megacap stocks while the S&P 500 and the Dow closed lower after U.S. Federal Reserve Chair Jerome Powell signaled more rate hikes and said he did not see inflation falling to the central…
By Pete Schroeder WASHINGTON (Reuters) -Big U.S. banks sailed through the Federal Reserve’s annual health check on Wednesday, in a vote of confidence for a sector still recovering from turmoil earlier this year and facing an uncertain economic outlook. The Fed’s “stress test” exercise showed lenders, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo,…
LISBON (Reuters) – The European Central Bank is close to being able to pause the trajectory of rising interest rates so as not to harm the stagnant euro zone economy, ECB Governing Council member Mario Centeno said on Wednesday. In an interview with Portugal’s broadcaster RTP he said that the ECB “must be cautious so…
By Michelle Price WASHINGTON (Reuters) – Big U.S. banks’ commercial real estate portfolios put in a surprisingly good performance during the Federal Reserve’s annual health checks, with losses declining slightly on last year, the central bank said on Wednesday. With risks growing in the commercial real estate (CRE) sector globally, analysts and investors were looking…
(Reuters) – BlackBerry posted a surprise profit for the first quarter on Wednesday as its cybersecurity business benefited from higher client spending, while its enterprise software continued to gain traction in automotive sector. U.S.-listed shares of the company rose 5.79% in extended trading. The Canadian technology company is banking on resilient demand for its cybersecurity…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The cold reality of ‘higher for longer’ interest rates that cooled investor sentiment on Wednesday will lend a cautious tone to Asian trading on Thursday, with investors also wary of potential action from Tokyo and…
By Daina Beth Solomon and Laura Gottesdiener NUEVO LAREDO, Mexico (Reuters) – The U.S. government is restarting asylum appointments at a dangerous Mexican border town, according to Customs and Borders Protection (CBP), just days after U.S. officials suspended the scheduling of appointments there because drug cartels were extorting migrants. The reversal comes after more than…
