By Sruthi Shankar and Ankika Biswas (Reuters) -European shares slipped on Wednesday as concerns about whether the United States can avoid a debt default weighed on sentiment, along with a slew of downbeat corporate updates. The continent-wide STOXX 600 eased 0.2%, with defensive sectors such as food and beverage, utilities and real estate firms leading…
WASHINGTON (Reuters) – House Speaker Kevin McCarthy said on Wednesday that a deal to raise the U.S. debt ceiling limit was “do-able” by Sunday, the day President Joe Biden said he intended on holding a news conference on the issue. (Reporting by David Morgan; Writing by Doina Chiacu; Editing by Tim Ahmann)
(Reuters) – Russia’s economy shrank 1.9% year-on-year in the first quarter of 2023, data from the Rosstat federal statistics service showed on Wednesday, following growth of 3% in the same period of last year. Russia’s economy defied early expectations of a double-digit collapse in 2022, but still contracted 2.1% after the West imposed sanctions in…
By Sarah N. Lynch and Laura Sanicola WASHINGTON (Reuters) – A subsidiary of BP plc will pay a record-setting $40 million penalty to settle civil U.S. charges that its Indiana-based oil refinery violated federal laws aimed at curbing emissions of cancer-causing benzene in wastewater and other harmful pollutants, the U.S. Justice Department said on Wednesday….
BRASILIA (Reuters) – Brazil’s economic ministers on Wednesday highlighted the potential for monetary easing to kick off, while the central bank continued to signal caution due to concerns over expectations of rising inflation. “My understanding that there is room for a cut cycle is no offense,” Finance Minister Fernando Haddad said during a hearing at…
By Tom Käckenhoff and Christoph Steitz DUESSELDORF/FRANKFURT (Reuters) -Thyssenkrupp’s labour bosses cranked up the pressure on Berlin to help fund a 2 billion euro ($2.2 billion) green steel production site, warning in a letter to Economy Minister Robert Habeck that a further subsidy cut could choke off the project. Reducing support further would trigger a…
By Rodrigo Campos NEW YORK (Reuters) – A measure of debt across the globe rose in the first quarter to almost $305 trillion, and the rising cost to service that debt is triggering concern about the financial system’s leverage, a widely tracked study showed. The Institute of International Finance, a financial services trade group, said…
(Reuters) -Italy posted a trade surplus with the rest of the world of 7.5 billion euros ($8.3 billion) in March, the largest in almost two years, as gas imports from Russia continued to decrease while exports of non-energy products rose, data showed. Trade data has a significant seasonal component and there has not been a…
SAO PAULO (Reuters) – Brazil’s retail sales smashed market estimates in March, growing more than the highest forecast in a Reuters poll of economists, in a positive reading for the country’s broader first-quarter economic performance despite high interest rates. Retail sales rose 0.8% in the month compared with February, data from statistics agency IBGE showed…
By Kate Holton and Nick Carey LONDON (Reuters) – British car plants will close with the loss of thousands of jobs unless the Brexit deal is swiftly renegotiated, Stellantis has warned, as Ford added its voice to the latest warning from the auto industry since Britain left the European Union. Stellantis, the world’s No. 3…
