PARIS (Reuters) – The International Monetary Fund has reached its target of making $100 billion in special drawing rights available for vulnerable countries, Managing Director Kristalina Georgieva told a summit held in Paris on Thursday. Rich countries agreed in 2021 to rechannel some of their unused IMF special drawing rights, an international reserve currency, to…
LONDON (Reuters) – Inflation is cooling, meaning major central banks can start to think about ending interest rate hikes even if most are not there just yet. The Bank of England, an outlier in some ways given the persistence of British inflation, on Thursday raised its benchmark rate by a bigger-than-expected half a percentage point….
By Davide Barbuscia NEW YORK (Reuters) -A hawkish tilt from Federal Reserve Chair Jerome Powell hasn’t been enough to convince some investors that the central bank is unlikely to hold U.S. interest rates at elevated levels for much longer. Testifying to U.S. lawmakers, Powell on Wednesday said the Fed had a “long way to go”…
By Nikolaj Skydsgaard COPENHAGEN (Reuters) -A thyroid cancer safety signal was raised by the EU’s drugs watchdog last month over several Novo Nordisk products including semaglutide, which is used in popular diabetes and obesity medicines Ozempic and Wegovy. The European Medicines Agency (EMA) raised the safety signal, which is a way to monitor potential adverse…
By Tom Sims FRANKFURT (Reuters) -Deutsche Bank is drawing up plans to cut 10% of its 17,000 German retail jobs over the next few years as part of cost savings, a person with knowledge of the matter said on Thursday. The plans at Germany’s largest bank come as Claudio de Sanctis prepares to take over…
LONDON (Reuters) – Two creditors of France’s Orpea have filed an application in a U.S. court against another creditor and the creditor’s financial adviser to obtain and use documentation related to the care home operator’s French legal proceedings, a source close to the situation said. Orpea creditors Kyma Capital and LMR Partners lodged on Tuesday…
LONDON (Reuters) -The Bank of England raised interest rates more than expected by half a percentage point on Thursday after it said there had been “significant” news suggesting British inflation would take longer to fall. The BoE’s Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, its highest…
By John Revill ZURICH (Reuters) -The Swiss National Bank raised its policy interest rate by 25 basis points on Thursday as the central bank pressed ahead with its campaign to dampen stubborn inflation and signalled that more tightening was likely to come. Chairman Thomas Jordan pointed to rising inflationary pressures and the danger of price…
PARIS (Reuters) – Following are highlights of what world leaders said at a summit in Paris on Thursday to boost crisis financing for poor countries, reform post-war financial systems and free up funds to tackle climate change. ON REFORM “Even with the capital that the World Bank and the MDBs (multinational development banks) have, there…
LONDON (Reuters) – Turkey’s new central bank governor Hafize Gaye Erkan delivered a smaller-than-expected interest rate hike at her first rate meeting on Thursday, sending the lira and the country’s dollar-denominated sovereign bonds sharply lower. The bank lifted its key rate 650 basis points to 15% compared to the median of 21% expected in a…
