By Lucy Craymer WELLINGTON (Reuters) – New Zealand Labour government is set to reveal a worse budget bottom line and economic outlook on Thursday as it delivers what it calls a “no frills” 2023-24 budget to avoid fuelling inflation. Since coming into power, Prime Minister Chris Hipkins has cut costly programmes and reiterated the government’s…
(Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, almost doubled in the first quarter compared to the year-ago period, the company said in a filing on Monday, pointing in part to favorable exchange rate fluctuations. Net profit for the quarter totaled 834.3 billion pesos. Quarterly revenue rose almost 40% to reach 9.6…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks slouched to a higher close on Monday, and benchmark Treasury yields rose amid flickering optimism that Washington will get past partisan wrangling and reach a debt ceiling deal. While all three major U.S. stock indexes ended green, market participants appeared to show little conviction as first-quarter…
SYDNEY(Reuters) – Australia’s central bank decided to hike at its May meeting due to inflation risks from weak productivity growth, persistently high services inflation and faster-than-forecast rental increases, saying more rate rises may be required. Minutes of the Reserve Bank of Australia’s May 2 policy meeting released on Tuesday said board members also considered a…
By Jonathan Stempel NEW YORK (Reuters) -A former associate of Rudy Giuliani is suing him for sexual assault, accusing Donald Trump’s former personal lawyer of hiring her to fulfill his desire for a sexual relationship. In a civil complaint filed on Monday and seeking at least $10 million, Noelle Dunphy said Giuliani began abusing her…
SYDNEY (Reuters) -A measure of Australian consumer sentiment fell in May after a surprise hike in interest rates by the Reserve Bank of Australia (RBA) and a “mildly disappointing” federal budget clouded the outlook for family finances and the economy. The Westpac-Melbourne Institute index of consumer sentiment out on Tuesday slid 7.9% in May from…
By David Morgan, Jeff Mason and Andy Sullivan WASHINGTON (Reuters) -President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy on Monday prepared for critical debt-ceiling talks, with a little more than two weeks to go before the U.S. government could run short of money to pay its bills. Democratic and Republican staff were…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Automaker Stellantis has stopped construction at a more-than C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada amid talks with the federal government about its support for the factory. “Effective immediately, all construction related to the battery module production on the Windsor site has stopped,” a spokesperson said,…
By David Randall and Carolina Mandl NEW YORK (Reuters) -Fund managers zeroed in on the U.S. financial sector during the first quarter, a period during which lenders’ shares were rocked by volatility following the worst banking crisis since 2008, regulatory filings showed on Monday. The S&P Regional Banking Index fell approximately 25% during the quarter…
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 and the Dow ended with modest gains on Monday after manufacturing data raised concerns about a slowing U.S. economy that could help bring down inflation amid ongoing debt ceiling negotiations, while a rise in Meta shares helped lift the Nasdaq. The New York Federal Reserve’s…
