HAMBURG (Reuters) – A deal between Daimler Truck and Toyota Motor Corp to combine their truck units in Japan will give the German group a more “balanced” market position in Asia and reduce its reliance on China, Daimler Truck’s CEO said on Tuesday. During a conference call, Martin Daum initially said the tie-up would have…
WASHINGTON (Reuters) – The International Monetary Fund said on Tuesday that it has reached a staff-level agreement with Ukraine for the first review of the war-torn country’s $15.6 billion IMF loan program, which would allow for a $900 million disbursement to Kyiv upon approval by the IMF Executive Board. The IMF said in a statement…
BEIJING (Reuters) -Tesla Chief Executive Elon Musk on Tuesday kicked off a high-stakes visit to China with a meeting with the country’s foreign minister in Beijing, marking his return to the electric carmaker’s largest production hub after three years. The trip is the latest return by a top U.S. CEO to China since the country…
NAIROBI (Reuters) – The World Bank said on Tuesday it approved a $1 billion loan to Kenya to support its budget as East Africa’s economic powerhouse confronts high debts and a weakening currency. The lending will be done through an instrument called a Development Policy Operations (DPO) loan, which commits Kenya to instituting reforms aimed…
LONDON (Reuters) – OPEC and its allies, including Russia, meet in Vienna on June 4 to decide on their output policy. The group, known as OPEC+, agreed on April 2 to increase crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand, after several members pledged unilateral cuts. The…
WASHINGTON (Reuters) – U.S. single-family home prices increased solidly on a monthly basis in March, boosted by a persistent shortage of properties on the market, though the overall trend continued to point to a slowdown in house price inflation. The S&P CoreLogic Case-Shiller national home price index, covering all nine U.S. census divisions, climbed 0.4%…
MOSCOW (Reuters) – Russia’s central bank issued a hawkish signal on Tuesday, just over a week before it is next due to set interest rates, warning that pro-inflationary risks of growing consumer demand and a weakening rouble could require tighter monetary policy. The bank is determined to bring annual inflation back to its 4% target…
BRUSSELS (Reuters) – European Union governments decided on Tuesday to nearly double the amount of EU financial support to Moldova to a total of 295 million euros ($324.74 million), the Swedish presidency of the EU said. The decision comes just days before a meeting of the European Political Community in Moldova on June 1, as…
(Reuters) – Yields on Treasury bills that are due in early June dropped on Tuesday on optimism that Congress will pass a deal to raise the country’s debt ceiling and avoid a potential default. A bipartisan deal to raise the $31.4 trillion U.S. debt ceiling now faces a series of votes in Congress, with both…
WIESBADEN, Germany (Reuters) – Hanno Berger, a former tax inspector turned legal tax expert, was sentenced on Tuesday to eight years and three months in jail by a court in Wiesbaden, as the nation comes to terms with one of its biggest post-war frauds. Berger had already been sentenced to eight years in jail in…
