New York Fed says global supply chain pressures further abated in May
By Michael S. Derby NEW YORK (Reuters) – Supply chain pressures cooled again in May, New York Fed data showed,…
Economy
World Bank cuts 2024 global growth forecast as rate hikes bite but lifts 2023 outlook
By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China…
UBS sees agreement on Credit Suisse loss guarantee by June 7 – SEC filing
ZURICH (Reuters) -UBS expects to finalize its agreement with the Swiss government to cover up to 9 billion Swiss francs…
Pakistan approves 3.5% GDP growth target for FY 2023-24 budget – minister
By Asif Shahzad and Ariba Shahid ISLAMABAD (Reuters) -Pakistan on Tuesday approved an estimated 3.5% GDP growth target for its…
Container shipping freight rates are too low, says Hapag Lloyd CEO
FRANKFURT (Reuters) -Global container shipping freight rates have reached unsustainable levels and must rebound, the chief executive of Germany’s Hapag…
US interest rate swap market embraces new rate as LIBOR deadline nears
By Harry Robertson LONDON (Reuters) – New trades in the enormous U.S. dollar interest rate swap market have almost entirely…
Brazil’s May inflation seen at eight-month low, opening window for rate cuts: Reuters poll
By Gabriel Burin (Reuters) – Brazilian inflation probably declined to an eight-month low in May versus April, opening a much…
Australia cenbank warns of more hikes ahead after raising rates to 11-yr high
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday raised interest rates by a quarter-point to an 11-year high,…
Exclusive-China’s state banks told to lower cap on dollar deposit rates -sources
SHANGHAI/BEIJING (Reuters) – In a rare attempt to bolster China’s yuan, a self-regulatory body overseen by the country’s central bank…
Subway inks deal for 4,000 new sandwich shops in China over next 20 years
By Hilary Russ NEW YORK (Reuters) – Subway reached an agreement with a master franchisee to open nearly 4,000 new…