By Stella Qiu SYDNEY (Reuters) – Australian consumer prices rose by more than expected in April on a jump in fuel prices and strong gains in housing, suggesting sticky inflation will likely keep pressure on the central bank. The consumer price index (CPI) rose 6.8% in April from a year earlier, Australian Bureau of Statistics…
SEOUL (Reuters) -South Korea’s factory production and retail sales fell in April, underscoring another tough quarter after the economy narrowly averted a recession in the first three months of the year. Factory production in April fell 1.2% from March, on a seasonally adjusted basis, official data showed on Wednesday, slightly softer than a 1.6% loss…
WASHINGTON (Reuters) – A bill to suspend the $31.4 trillion U.S. debt ceiling and avert a disastrous default advanced on Tuesday when a key House of Representatives committee voted to send it to the full chamber for a Wednesday vote. The Republican-controlled House Rules Committee voted 7-6 to advance the bill to the floor for…
By Patricia Zengerle WASHINGTON (Reuters) – A senior U.S. senator who has long opposed the potential sale of F-16 fighter jets to Turkey said on Tuesday he wants Turkish President Tayyip Erdogan to take a “less belligerent” stance toward NATO allies and Turkey’s neighbors before lifting his opposition to the deal. “Now what’s important is…
By Herbert Lash and Shreyashi Sanyal (Reuters) -Stocks on Wall Street closed mixed on Tuesday, pressured by worries about U.S. lawmakers opposed to a deal to raise the $31.4 trillion debt ceiling, but supported by another surge in Nvidia shares that briefly lifted the chipmaker into the rare club of companies valued at $1 trillion….
By Leika Kihara and Takahiko Wada TOKYO (Reuters) – The Bank of Japan (BOJ) may raise short-term interest rates early next year if sustained wage growth becomes a real prospect, Tsutomu Watanabe, an academic who participated in a key government panel on economic policy, told Reuters. Inflation will remain elevated as companies become more convinced…
By Manoj Kumar NEW DELHI (Reuters) – India is set to release data on Wednesday that is expected to show the economy grew by 5% in the January-March quarter from a year earlier, accelerating from 4.4% in the previous quarter due to steady urban demand and government spending. The median forecast from a Reuters poll…
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Congressional Budget Office said on Tuesday its budget deficit projections would be reduced by about $1.5 trillion over the next 10 years if the debt ceiling bill now up for a vote in Congress were enacted in its present form. The projection comes following the debt ceiling deal…
(Reuters) – A Fidelity fund has marked down the value of its stake in Twitter for the third time since Elon Musk’s $44 billion takeover of the social media platform in October, a monthly disclosure by the investment firm showed on Sunday. Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s…
By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – The last great hope for China’s faltering post-pandemic rally is fading as the nation’s legion of small-time investors turns bearish on equities to double down instead on safer assets amid a stuttering economic recovery. Brokers and money managers had expected billions of yuan in excess savings…
