By Davide Barbuscia and Tom Sims NEW YORK (Reuters) – BlackRock Inc Chief Executive Laurence Fink said on Wednesday that inflation remained sticky and the Federal Reserve may need to hike interest rates further to contain price pressures. Fink, who heads the world’s largest asset manager, said at a Deutsche Bank financial services conference that…
BUENOS AIRES (Reuters) – Argentina’s central bank purchased $451 million of foreign currency on Wednesday to bolster its dwindling hard currency reserves, after daily sales from farm exports topped $1 billion, providing some relief for the country’s hard-hit finances. The currency move on Wednesday marks the biggest such purchase since late December. In May, the…
NEW YORK (Reuters) – Morgan Stanley expects to its revenue from trading and investment banking to slump in the second quarter given a more challenging economic environment, co-president Andy Saperstein told investors Wednesday. (Reporting by Tatiana Bautzer)
By Siddharth Cavale BENTONVILLE, Ark. (Reuters) – Walmart is raising wages for thousands of U.S. pharmacists and opticians, the retailer said on Wednesday, part of its broader plan to expand primary care services across the country. The Bentonville, Arkansas-based chain said about 3,700 pharmacists would get a bump in pay starting on Wednesday, bringing their…
By Ann Saphir and Howard Schneider (Reuters) – U.S. economic activity appeared to stall in recent weeks, a Federal Reserve report published on Wednesday showed, with job growth and inflation both slowing, and near-term business prospects looking slightly worse than previously. “Expectations for future growth deteriorated a little, though contacts still largely expected a further…
By Laura Sanicola (Reuters) -Oil prices settled lower on Wednesday, pressured by a stronger U.S. dollar and weak data from top oil importer China that fed demand fears. Brent crude futures for August delivery settled down $1.11 to $72.60 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $1.37, or 2%, to $68.09. At…
(Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said on Wednesday that for the moment he is inclined to support a “skip” in interest rate hikes at the central bank’s next meeting in June, although economic data due soon could change his mind. “I am in the camp increasingly coming into this meeting…
BRASILIA (Reuters) – Brazil’s formal job creation fell short of expectations in April, with a net of 180,005 positions, according to figures released by the Labor Ministry on Wednesday. Economists polled by Reuters were expecting that 204,800 jobs would be created in the month. All five activity groups surveyed showed positive results, led by the…
By Jonathan Cable LONDON (Reuters) – The Bank of England will be far more aggressive in policy tightening than previously thought as it battles to contain stubbornly-high inflation running at the joint-highest rate among Group of Seven advanced economies, a Reuters poll found. Consumer prices rose 8.7% in annual terms last month, down from 10.1%…
By Ana Isabel Martinez MEXICO CITY (Reuters) – Mexico’s president took office in late 2018 pledging to boost local output of gasoline while phasing out imports, but so far state refineries have instead set a different course: bumper production of highly-contaminating fuel oil. To make Mexico self-sufficient, leftist resource nationalist President Andres Manuel Lopez Obrador…
