PARIS (Reuters) – Upcoming interest rate hikes will be marginal, said European Central Bank (ECB) member and Bank of France governor Francois Villeroy de Galhau, who added that rate hikes were beginning to have an impact on inflation. “The increases in interest rates that we still have to do are relatively marginal, most of the…
By Fergal Smith and Steve Scherer TORONTO (Reuters) – Canada’s residential construction activity has slowed in recent months due to a tight labor market and higher borrowing costs, a factor that could thwart government plans to reduce a housing shortfall and add to the recovery in home prices. That would be bad news for the…
By Ahmad Ghaddar and Maha El Dahan LONDON/DUBAI (Reuters) -OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies…
WASHINGTON (Reuters) – U.S. private payrolls increased more than expected in May, suggesting that the labor market was slowing only gradually, which could result in the Federal Reserve keeping interest rates elevated for some time. Private payrolls increased by 278,000 jobs last month, the ADP National Employment report showed on Thursday. Data for April was…
By Roman Churikov MOSCOW (Reuters) – Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning. Hundreds of foreign retailers shut up shop in response to Russia despatching troops…
(Reuters) – Nvidia Corp’s market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data. The chipmaker briefly joined the $1 trillion valuation club, as investors bet on its potential to…
By Caroline Valetkevitch (Reuters) – Investors gave a muted welcome to the U.S. House of Representatives passing a bill that would suspend the government’s borrowing limit and avert default, with market focus now turning to the Senate and the interest rate outlook. Asian markets were trading higher when the bill cleared the house and held…
(This May 31 story has been corrected to clarify that Jordan’s comment referred to another bank and not Credit Suisse, in paragraph 9) ZURICH (Reuters) – Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the…
By Maria Martinez BERLIN (Reuters) – Rising rents, less venture capital and a shortage of talent are taking the shine off Berlin as a hub for startups. “The one single thing more difficult to find in Berlin than an apartment is a programmer,” said Avitosh Sawhney, 36, who moved his tech startup Ynertia to the…
By Huw Jones LONDON (Reuters) – How rules are applied to banks and the calculation of their liquidity buffers should be reviewed following recent turmoil in the banking sector, Klaas Knot, chair of the G20’s Financial Stability Board said on Thursday. European banking stocks plunged after the collapse of Silicon Valley (SVB) bank in the…
