By Patricia Zengerle WASHINGTON (Reuters) -Dozens of U.S. President Joe Biden’s fellow Democrats urged him on Tuesday to raise human rights issues with Indian Prime Minister Narendra Modi during his visit to Washington this week, according to a letter sent to Biden. Modi left for Washington on Tuesday for a visit projected as a milestone…
(Reuters) -UBS Group AG faces hundreds of millions of dollars in penalties over Credit Suisse’s mishandling of Archegos Capital, after UK, Swiss and U.S. regulators completed their investigations, Financial Times reported on Monday. UBS has asked the U.S. Federal Reserve, the Swiss Financial Market Supervisory Authority and UK’s Prudential Regulation Authority to publish their findings…
(Refiles to add dropped day in paragraph 1) By Saqib Iqbal Ahmed and Samuel Indyk NEW YORK (Reuters) -The U.S. dollar edged higher against the euro on Tuesday after data showed U.S. housing starts surged and as traders awaited Federal Reserve Chair Jerome Powell’s congressional testimony later this week for clues to the outlook for…
By Scott DiSavino NEW YORK (Reuters) -Oil futures eased in choppy trading on Tuesday on forecasts for slower oil demand growth in China, the world’s second-biggest oil consumer, and disappointment with the size of cuts in China’s key lending rates. Adding to the bearish market sentiment, traders noted crude supplies from Iran and Russia have…
PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Tuesday he was sticking for now with the government’s forecast of 1% economic growth for 2023. “I confirm the growth forecast for 2023,” Le Maire told France 2 television. “I am lucid about the economic environment with several of our neighbours in recession…so we…
BRASILIA (Reuters) -Brazil’s Senate Economic Affairs Committee has granted the opposition a 24-hour delay on a vote on new fiscal rules considered crucial by the government of President Luiz Inacio Lula da Silva. The new fiscal framework, mentioned by S&P in its outlook improvement for Brazil, is seen a key tool for the government to…
By Giulio Piovaccari MILAN (Reuters) -Pirelli investor Camfin has proposed Andrea Casaluci as the new CEO of the Italian tyremaker, promoting him from a general manager role days after the Italian government intervened to limit Chinese influence on the company. The nomination of Casaluci on Tuesday comes as Pirelli deputy CEO Giorgio Bruno, who had…
By Ann Saphir SAN FRANCISCO (Reuters) -Pandemic-related snarls in global supply chains have mostly receded, but their after-effects still account for a big chunk of excess U.S. inflation, an analysis published Tuesday by the San Francisco Federal Reserve Bank showed. Supply shortages from supply chain disruptions drove most of the upswing in inflation since April…
PARIS (Reuters) – The French economy is on course to avoid a recession this year while inflation pressures ease though growth and will only gradually pick up in the coming two years, the central bank forecast on Wednesday. In its quarterly outlook, the Bank of France said the euro zone’s second-biggest economy would grow 0.1%…
By David Ljunggren OTTAWA (Reuters) – Canada’s national statistics agency on Tuesday revealed new weights for the basket of goods and services in its Consumer Price Index, giving more prominence to changes in the prices of food and gasoline. The reweighting, which Statistics Canada carries out every year, has historically had only a marginal impact…
