By Andrea Shalal and Susan Heavey WASHINGTON (Reuters) – China’s move on Micron Technology Inc won’t torpedo larger efforts to get U.S.-China relations into better position, White House spokesman John Kirby said on Wednesday, adding that Washington was engaged directly with Beijing. Kirby told reporters the Chinese government’s recent ban on the U.S. chipmaker Micron…
(Reuters) – Costs in Russia’s manufacturing sector rose for a third month in April, data from the state statistics service Rosstat showed on Wednesday, driven by a rise in the cost of mineral extraction and oil products. The producer prices index (PPI), a measure of costs in the manufacturing sector, increased 2.4% in April. In…
By John Revill (Reuters) -UBS has been a net gainer in customer balances following its rescue of Credit Suisse, Chairman Colm Kelleher said on Wednesday, citing positive feedback from wealthy clients. Bank mergers can sometimes lead to turbulence, with clients withdrawing their cash, although this tended to happen very quickly, Kelleher told a WSJ event…
Federal Reserve Governor Christopher Waller on Wednesday said he is concerned about the lack of progress on inflation, and while skipping an interest rate hike at the U.S. central bank’s meeting next month may be possible, an end to the hiking campaign isn’t likely. “I do not support stopping rate hikes unless we get clear…
By David Lawder and Doina Chiacu WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday maintained early June as a debt ceiling default deadline and said she will update Congress shortly about government finances. Speaking at a Wall Street Journal forum, Yellen said it was hard to be precise about exactly which day the U.S….
By William Schomberg and David Milliken LONDON (Reuters) -Bank of England Governor Andrew Bailey said he was concerned about the risk of “sticky and stubborn” inflation over the summer after data showed food prices still rising sharply despite a drop back to single digits for the headline inflation rate in April. Bailey, who this week…
By Walter Bianchi BUENOS AIRES (Reuters) – Argentina is in talks to renew and potentially expand its currency swap line with China, a central bank source said on Wednesday, as the South American country battles tumbling foreign reserves that threaten its ability to meet payments. The country has free access to some $5 billion as…
BERLIN (Reuters) -German Finance Minister Christian Lindner didn’t commit to a timetable for resolving a budget dispute between the three coalition partners on Wednesday, exposing cracks in the government and casting uncertainty over spending plans. “We want to present plans for the budget soon,” Lindner said before answering questions in the Bundestag’s budget committee. According…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Wednesday he does not rule out the possibility of the government stepping in to buy a part of U.S. bank Citigroup’s local retail unit, adding the government would have up to $3 million at its disposal. Citigroup announced earlier on Wednesday it will…
(Reuters) -Consumer prices in Mexico fell more than expected in the first half of May, driving annual inflation to its lowest in 20 months, according to the first figures released after the central bank decided to pause interest rate hikes. Prices decreased 0.32% in early May, national statistics agency INEGI said on Wednesday, with 12-month…
