By Gayatri Suroyo, David Brunnstrom and Simon Lewis JAKARTA/WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken held “candid and constructive” talks with top Chinese diplomat Wang Yi on Thursday in Indonesia’s capital, an official said, the latest in a series of interactions Washington says are aimed at managing competition between the rival superpowers. In…
By Vera Eckert and Susanna Twidale FRANKFURT/LONDON (Reuters) – Energy majors BP and TotalEnergies have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership. Previous auctions have been won by consortia, as happened in…
By Bernardo Caram and Rodrigo Viga Gaier BRASILIA/RIO DE JANEIRO (Reuters) -Leading members of Brazil’s economic team said on Thursday they predict the central bank has room to cut its benchmark interest rate by more than 25 basis points at its next meeting, further pressuring policymakers at the bank to lower borrowing costs. President Luiz…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years, further evidence that the economy had entered a period of disinflation even as the labor market remains tight. The report from the Labor Department on Thursday followed news…
By Nivedita Balu TORONTO (Reuters) – The Bank of Canada’s interest rate hike on Wednesday and prospects of more increases heighten risks to mortgage lenders as homeowners are likely stay in debt longer, struggling to make higher payments or pay even the interest portion of their home loans, investors and analysts said. After urging lenders…
By Bansari Mayur Kamdar (Reuters) – Shares in Google parent Alphabet Inc were up 4.9% on Thursday after it said it was rolling out its artificial-intelligence chatbot Bard in Europe and Brazil, easing worries about overseas regulatory issues. The stock last traded at $124.73 and was on track for its biggest one-day percentage gain since…
By Matteo Allievi and Shreyashi Sanyal (Reuters) -European shares closed higher on Thursday led by technology stocks, as hopes grew that the Federal Reserve’s post-pandemic tightening cycle was close to an end due to cooling U.S. inflation. The pan-European STOXX 600 index ended 0.6% higher, extending gains to the fifth straight day, its longest winning…
WASHINGTON (Reuters) -China’s economy is slowing due to weaker private investment, slowing exports and reduced domestic demand after a strong performance in the first quarter as the economy reopened from COVID-19 lockdowns, the International Monetary Fund said on Thursday. “So the overall picture for growth in China is one of a slowing economy and that…
(Reuters) – U.S. shoppers plan to spend a record $41.5 billion during the upcoming school year, a trade group forecast on Thursday, as families accommodate an inflation-driven rise in the prices of back-to-school items, particularly electronics. The survey by the National Retail Federation (NRF) predicts consumers will spend 12.5% more during one of the key…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday reiterated that rate hikes will be essential to bring down high inflation in the United States. Daly has previously said she believes two more rate hikes will likely be needed this year. Daly wants to start heading towards a neutral rate as the…
