OTTAWA, May 26 (Reuters) – Canada’s budget deficit in fiscal 2022/23 shrank to C$41.31 billion ($30.89 billion) from C$95.57 billion in the previous year as a post-pandemic economic rebound spurred tax revenue and spending on support measures fell, the finance ministry said on Friday. Revenues rose 8.6% in the period from April 2022 to March…
By Ann Saphir and Michael S. Derby (Reuters) -Federal Reserve policymakers got a dose of unexpectedly strong U.S. economic data on Friday that bolstered the case for further monetary policy tightening to bring down persistently high inflation. Consumer spending surging 0.8% last month from March was good news in showing the economy is not on…
By Makiko Yamazaki and Daniel Leussink TOKYO (Reuters) -Proxy adviser Glass Lewis has recommended that shareholders of Toyota Motor Corp vote against the re-election of Chairman Akio Toyoda as a board director at an upcoming meeting, citing his responsibility for the lack of a sufficiently independent board. Glass Lewis made the recommendation against the chairman…
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen spoke about the U.S. economy’s resilience in the face of global headwinds in a meeting Friday with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, according to a Treasury Department statement. Yellen and Georgieva also discussed recent banking sector stress, the outlook for the U.S. economy as well…
By Timothy Gardner and Jarrett Renshaw WASHINGTON (Reuters) -A bill to boost power transmission between U.S. regions is being considered as part of talks between White House and congressional Republicans to raise the debt ceiling, two sources with knowledge of the talks said. The measure from Senator John Hickenlooper and Representative Scott Peters, both Democrats,…
By David Shepardson WASHINGTON (Reuters) -The Transportation Security Administration screened 2.658 million passengers on Thursday, the highest number since the beginning of the COVID-19 pandemic, as U.S. holiday travel got off to a smooth start. “So far so good,” Transportation Secretary Pete Buttigieg told CNBC on Friday. Despite the record travel Thursday “the system held…
By Abigail Summerville NEW YORK (Reuters) – Private equity firm Kelso & Co is exploring a sale of Augusta Sportswear Brands in a deal that could value the U.S. catalog seller of team sports uniforms and apparel at between $700 million and $800 million, including debt, according to people familiar with the matter. Kelso is…
By Naomi Rovnick LONDON(Reuters) – Experienced tech investors are hunting for undervalued opportunities in an over-valued space. At stake is how best to invest in the potential of Artificial Intelligence (AI), which took a leap forward in November when Microsoft-backed OpenAI released its ChatGPT bot, without buying into a bubble. Shares in Nvidia, which…
By Dina Kartit (Reuters) – French tyre maker Michelin said on Friday it was selling its Russia Tyre Manufacturing Company (MRTMC) and Camso CIS in Russia to Power International Tires, a tyre distributor in the country. The group did not provide details on the sale price. A group’s spokesman did not respond to a Reuters…
By Philip Blenkinsop BRUSSELS (Reuters) – The European Union faces a challenge to convince its members to relinquish authority over export controls as it aims to bring in an EU-wide system that would also monitor outbound investment, European Trade Commissioner Valdis Dombrovskis said on Friday. The European Commission intends to present its “Economic Security Strategy”…
