(Reuters) – U.S. inflation does not look like it is cooling fast enough to allow the Federal Reserve to hit pause on the interest-rate hike campaign it began more than a year ago, two Fed policymakers said on Thursday. The remarks, from Dallas Federal Reserve Bank President Lorie Logan and St. Louis Fed President James…
(Reuters) – Egypt’s central bank kept its overnight interest rates unchanged on Thursday, saying that growth had slowed in the fourth quarter and international commodity prices were easing. As forecast by analysts, the bank left its lending rate at 19.25% and deposit rate at 18.25%, its Monetary Policy Committee (MPC) said in a statement. “Domestically,…
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem suggested April’s inflation increase – the first in 10 months – was an anomaly and said consumer prices would continue to come down, prompting markets to pare expectations for another hike. The central bank has been warning Canadians that rates could…
By Aishwarya Venugopal (Reuters) – Lower input costs and inventories, as well as extended price hikes are pushing a quicker-than-expected recovery in margins at U.S. consumer-facing firms including PepsiCo, Kraft Heinz, and Target, their recent earnings reports indicated. Investors have zeroed in on gross margins, that faltered in the past several quarters, as high inflation…
By Rachel Savage and Maxwell Akalaare Adombila JOHANNESBURG/ACCRA (Reuters) -Ghana is targeting $10.5 billion of external debt service relief from 2023-2026, the IMF said, giving an early indication of how large a hit investors might face in an impending debt overhaul. The West African country’s debt is currently unsustainable, but Ghana aims to restore…
WASHINGTON (Reuters) – U.S. Senate Majority Leader Chuck Schumer said on Thursday that lawmakers from his chamber should be ready to return to Washington on 24-hours notice during next week’s recess, as debt ceiling talks make progress toward a possible deal to avoid default. (Reporting by David Morgan; Editing by Chris Reese)
LONDON (Reuters) -A European body that reviews disputes in the credit default swaps market said on Thursday it will discuss whether a bankruptcy credit event occurred at Credit Suisse after regulators wiped out the bank’s junior bondholders in a state-assisted merger with UBS. The EMEA Credit Derivatives Determination Committee (CDDC) said it will meet on…
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday ruled against Amgen Inc in its bid to revive patents on its cholesterol-lowering drug Repatha in a legal clash with French rival Sanofi SA. The 9-0 ruling upheld a lower court’s decision that had invalidated Amgen’s patents on the grounds that the Thousand Oaks,…
By Kirstin Ridley and Stefania Spezzati LONDON (Reuters) – Credit Suisse came close to falling below minimum levels of cash held at the Swiss central bank days before its forced takeover by UBS, a regulatory document shows. As of mid-March 2023, Credit Suisse barely reached its internal cash limit at the Swiss National Bank. A…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week, with applications in Massachusetts decreasing sharply, suggesting the labor market remains tight. The steep decline in weekly jobless claims reported by the Labor Department on Thursday reversed the surge in the prior week,…
