BRASILIA (Reuters) – Brazil’s finance ministry on Tuesday lifted its 2024 inflation forecast to 3.63%, from 3.52%, and kept its estimate for growth in Latin America’s largest economy unchanged at 2.3%. The country’s central bank has maintained its key interest rate at a six-year high of 13.75% at recent meetings to prevent a possible resurgence…
By Karen Brettell and Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar hit a two-month high against a basket of currencies on Tuesday as a lack of progress in talks over increasing the U.S. debt limit hurt investors’ appetite for risk-taking. Representatives of President Joe Biden and congressional Republicans ended another round of…
By David Morgan, Steve Holland and Richard Cowan WASHINGTON (Reuters) – Representatives of President Joe Biden and congressional Republicans ended another round of debt ceiling talks on Tuesday with no signs of progress as the deadline to raise the government’s $31.4 trillion borrowing limit or risk default ticked closer. The two parties remain deeply…
(Reuters) – Vedanta Group, the promoter of metals-to-oil conglomerate Vedanta Ltd, has signed a five-year loan for about $850 million with JPMorgan and Oaktree, Bloomberg News reported, citing people familiar with the matter. The billionaire Anil Agarwal-led group is relying on money from its units to tackle its debt burden, after its efforts to sell…
By Foo Yun Chee BRUSSELS (Reuters) -The Alliance for Open Media (AOM), whose members include Alphabet unit Google, Amazon, Apple and Meta, on Tuesday dodged a possible fine after EU antitrust regulators closed an investigation into its video licensing policy. The European Commission, which acts as the competition enforcer for the 27-country bloc, had been…
BEIJING (Reuters) – China firmly opposed the agreement reached between the U.S. and Taiwan, urging the U.S. to “carefully handle economic and trade relations with Taiwan”, China’s ministry of commerce said on Tuesday. The U.S. Trade Representative’s office announced last week that the U.S. and Taiwan reached agreement on the first part of their “21st…
BERLIN (Reuters) – The European Central Bank needs to continue raising interest rates to tame the highest inflation in decades, Deutsche Bank CEO Christian Sewing said on Tuesday. “This poison must go out,” he said, referring to inflation at an event in Berlin. He warned that inflation weakens consumption and hinders growth in the long…
By Siddhi Nayak and Nikunj Ohri MUMBAI/NEW DELHI (Reuters) -Indians are stepping up purchases of daily essentials, and even premium branded goods, using the soon-to-be-withdrawn 2,000-rupee ($24.46) notes as they aim to sidestep the need to exchange or deposit them at banks. The Indian central bank announced on Friday the country’s largest denomination note will…
FRANKFURT (Reuters) – The European Central Bank will need to raise interest rates “several” more times and then must hold rates steady for some time before inflation is fully tamed, Bundesbank President Joachim Nagel said on Tuesday. The ECB has lifted rates by a combined 375 basis points since last July and promised further policy…
MEXICO CITY (Reuters) – Mexico’s headline inflation likely slowed in the first half of May to its lowest level in 19 months, a Reuters poll on Tuesday showed, backing views of a sustained decline in consumer prices and that the central bank will keep its benchmark rate on hold. The median forecast of 13 analysts…
