By Andy Sullivan WASHINGTON (Reuters) – Americans are worried about the prospect of the U.S. government defaulting if Congress fails to raise the debt ceiling, but are divided over the action to be taken, according to a Reuters/Ipsos poll completed on Monday. The polls show neither Democratic President Joe Biden nor congressional Republicans hold a…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell, who navigated a combative White House and a pandemic in his first years as head of the U.S. central bank, is facing a critical chapter in his leadership with a battle against inflation still unresolved, worries about recession widespread, and developing criticism of the…
By Divya Rajagopal TORONTO (Reuters) – Glencore’s hostile bid for Teck Resources has galvanized some Canadian institutional investors, who have lobbied the federal government to push the nation’s biggest pension funds to lift their exposure to domestic companies, according to a presentation seen by Reuters. The previous unreported proposal is an unusual move, but mirrors…
(Reuters) – A look at the day ahead in U.S. and global markets from Samuel Indyk. Another day, another meeting in Washington. President Joe Biden and senior Republicans, including House Speaker Kevin McCarthy, are to sit down on Tuesday in an attempt to thrash out a deal to raise the debt limit and avoid a…
(Reuters) -German investor sentiment fell more than expected in May, pointing to a worsening of the already unfavourable economic situation in the next six months and spurring recession fears. “The German economy could slip into a recession, albeit a mild one,” ZEW president Achim Wambach said. The ZEW economic research institute said on Tuesday that…
By Ira Dugal MUMBAI (Reuters) – The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year, its top executive told Reuters on Tuesday. The infrastructure lender, which started operations last year, has sanctioned in-principle loans worth 450 billion rupees…
BRUSSELS (Reuters) – Euro zone economic growth was 0.1% quarter-on-quarter in the first three months of the year, the EU’s statistics agency confirmed on Tuesday, with rising employment and a sharp increase in exports that boosted the euro zone trade surplus. Eurostat also confirmed its earlier estimate that gross domestic product in the 20 countries…
MUNICH (Reuters) – Former Audi boss Rupert Stadler accepted his role in committing fraud by negligence in the diesel emissions scandal, according to a statement made in German court on Tuesday, having agreed early in May to a deal which would get him a suspended sentence. The former CEO has been on trial for fraud…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Australian fund Macquarie is raising legal hurdles over a plan backed by Italy’s Treasury for state lender CDP to join forces with U.S. fund KKR to buy Telecom Italia’s (TIM) landline grid, three sources said. TIM <TLIT.MI> directors have set a final deadline of June 9 for…
LONDON (Reuters) – Investors lifted equity allocations to a 5-month high but cash levels also increased to 5.6%, even as they remained worried about a possible credit crunch and inflation staying elevated, a Bank of America survey showed on Tuesday. The survey of 289 fund managers with a total of $753 billion in assets showed…
