MEXICO CITY (Reuters) -More top officials could soon follow the foreign minister in quitting to compete for the presidency, President Andres Manuel Lopez Obrador said on Wednesday, as the race to succeed him begins to thin out the government. Foreign Minister Marcelo Ebrard, one of the favorites to be Mexico’s next leader, said on Tuesday…
By Michael S. Derby NEW YORK (Reuters) – Some economists are challenging the view central to some Federal Reserve officials that once the current inflation surge and resulting rate tightening have run their course, the world will once again be one of historically low interest rates. Instead, forecasters at Deutsche Bank and Goldman Sachs believe…
By Gabriel Araujo SAO PAULO (Reuters) – Consumer prices in Brazil decelerated more than expected in May, government data showed on Wednesday, with 12-month inflation hitting its lowest level in more than two years and dropping below the 4% mark for the first time since late 2020. The figures are likely to add weight to…
By Clare Jim and Paul Sandle HONG KONG/LONDON (Reuters) -Vodafone and CK Hutchison are in the final stage of agreeing to merge their British operations, with an announcement expected as soon as Friday or early next week, three sources have told Reuters. Shares in Vodafone jumped 3% on the news on Wednesday. Vodafone will own…
By Humeyra Pamuk and Aziz El Yaakoubi JEDDAH, Saudi Arabia (Reuters) -U.S. Secretary of State Antony Blinken had an “open, candid” conversation with Saudi Crown Prince Mohammed bin Salman in the early hours of Wednesday about a wide range of bilateral issues, a U.S. official said. The top U.S. diplomat arrived in Saudi Arabia late…
By Shreyashi Sanyal and Sruthi Shankar (Reuters) -European stocks slipped on Wednesday, dented by healthcare stocks and concerns about the outlook for interest rates in the euro zone, although a strong earnings update from Zara owner Inditex boosted retailers and Spanish shares. The pan-European STOXX 600 index fell 0.2%, with Wall Street also struggling for…
By M. Sriram and Aditya Kalra MUMBAI/NEW DELHI (Reuters) – Starbucks is revamping its strategy to lure Indians, including children, with smaller, cheaper beverages as it looks to expand in small towns amid a fierce challenge from domestic startups in one of its fastest-growing markets. Among the first foreign coffee brands to enter tea-loving India,…
By Nell Mackenzie and Chiara Elisei LONDON (Reuters) – Hedge fund Man Group Chief Executive Luke Ellis believes central banks have not tamed inflation and threats to the broader economy persist, he said on Wednesday. “The bigger picture is that central banks think they’ve done a lot but they haven’t really made much difference to…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit widened by the most in eight years in April as imports of goods rebounded while exports of energy products declined, a trend that if sustained, could result in trade being a drag on economic growth in the second quarter. The increase reported by the Commerce…
By Susan Heavey and David Lawder WASHINGTON (Reuters) -The U.S. economy is strong amid robust consumer spending but some areas are slowing down, U.S. Treasury Secretary Janet Yellen said on Wednesday, adding that she expects continued progress in bringing inflation down over the next two years with a strong labor market. Yellen, in a CNBC…
