By Ariba Shahid (Reuters) – The International Monetary Fund (IMF) on Thursday expressed dissatisfaction with Pakistan’s recently presented budget, a blow for the cash-strapped country which has only two weeks left until its bailout programme expires. Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to have $1.1 billion of…
By David Shepardson WASHINGTON (Reuters) -Time is running out on a deadline for Microsoft to complete its $69 billion acquisition of Activision Blizzard, compelling the companies to ask a U.S. judge on Wednesday to quickly get the ball rolling on the Federal Trade Commission’s legal bid to block the deal. U.S. District Judge Edward Davila…
By Kate Abnett BRUSSELS (Reuters) – The European Union should commit to slash its net greenhouse gas emissions by as much as 95% by 2040, official advisers said on Thursday, as Brussels prepares a new goal to curb Europe’s contribution to climate change. The European Commission is drafting what would be the EU’s first legally…
By Tatiana Bautzer NEW YORK (Reuters) -Citigroup Inc in the second quarter will book severance costs associated with around 1,600 job cuts, Chief Financial Officer Mark Mason said on Wednesday. Speaking at a conference in New York, Mason said the bank’s expenses in the second quarter will be $300 million to $400 million higher than…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A raft of economic data and a likely medium-term policy easing from China will give Asian markets direction on Thursday, but the main steer will probably come from investors’ reaction to the Federal Reserve’s ‘hawkish…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices fell more than expected in May as the costs of energy goods and food declined, signaling that inflation pressures were abating throughout the economy and could eventually provide relief to consumers. The report from the Labor Department on Wednesday also showed the annual increase in producer…
By Chavi Mehta and Aditya Soni (Reuters) – Tesla’s record 13-day streak of gains finally came to an end on Wednesday, as the stock closed down just a smidgen after a stretch that saw the U.S. automaker add more than $200 billion to its value. During the streak, Tesla shares rose by more than 40%,…
(Reuters) – Bitcoin dropped 3.65% to $24,987 at 2103 GMT on Wednesday, losing $947 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 19.5% from the year’s high of $31,035 on April 14. Ether, the coin linked to the Ethereum blockchain network, dropped 5.36% to $1,646.1, losing $93.3 from its previous…
By Michael S. Derby WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell said on Wednesday that financial conditions are likely to allow the central bank to press forward with the drawdown of its massive balance sheet through the remainder of the year. As the Treasury moves toward selling massive amounts of debt to rebuild its…
By Sinéad Carew (Reuters) – MSCI’s global equity index closed slightly higher on Wednesday after a volatile afternoon while the dollar cut its losses after the U.S. Federal Reserve paused interest rate hikes as was widely expected but signalled that it could raise rates by another half percentage point by year-end. The central bank issued…
