By David Milliken and Andy Bruce LONDON (Reuters) -The Bank of England raised its key interest rate by a quarter of a percentage point to 4.5% on Thursday and Governor Andrew Bailey said the British central bank would “stay the course” as it seeks to curb the highest inflation of any major economy. The BoE…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month. With demand cooling, inflation pressures are subsiding. Producer…
By Rodrigo Campos, David Lawder and Libby George (Reuters) -Pakistan needs significant additional financing for a successful completion of the long-stalled ninth review of the International Monetary Fund’s bailout package, the IMF said in a scheduled press conference on Thursday. Obtaining commitments of “significant additional financing” is essential before the IMF approves the release of…
By Ankika Biswas and Sruthi Shankar (Reuters) -Europe’s benchmark STOXX 600 was unchanged on Thursday as a drag by Germany’s Bayer and energy stocks offset an earlier rise on hopes of a pause in the Federal Reserve’s interest rate hike campaign amid supportive U.S. economic data. The pan-European STOXX 600 index closed flat, after rising…
By Melanie Burton MELBOURNE (Reuters) – Shares in Australian-listed lithium miners jumped on Thursday after a $10.6 billion merger in the sector raised expectations for more consolidation among producers of the key metal in electric vehicle batteries. The tie up between Allkem Ltd and Livent announced on Wednesday will create the world’s third-biggest producer of…
By Marc Jones LONDON (Reuters) -Tunisia and Egypt are edging closer to major debt crises that could suck in a volatile North Africa region and pose tough choices to wealthy Gulf Arab neighbours, investors and analysts warn. The countries are already being challenged by shortages of essential goods and financial market dysfunction and in Tunisia’s…
By Matt Spetalnick, David Brunnstrom and Michael Martina WASHINGTON (Reuters) -China is facing a growing backlash from the United States and other Western governments over its controversial efforts to pressure dissidents and their advocates abroad, but Beijing has appeared undeterred. Authorities in the U.S., Canada, Britain and elsewhere recently have taken a hard line,…
MOSCOW (Reuters) – A Russian court fined Alphabet’s Google <GOOGL.O> 3 million roubles ($38,600) on Thursday for failing to delete YouTube videos it said promoted “LGBT propaganda” and “false information” about Russia’s military campaign in Ukraine, Russian news agencies reported. Over the last year Moscow has levied dozens of fines against Western tech companies as…
By Daniel Leussink TOKYO (Reuters) -Nissan Motor Co on Thursday flagged a better-than-expected 38% rise in profit this year on stronger sales, a rosier outlook for the Japanese automaker as it retools its often difficult alliance with Renault and faces headwinds in China. The bullish forecast, which comes as Nissan is pushing to turn itself…
By Howard Schneider WASHINGTON (Reuters) -Climate change does not pose such “significantly unique or material” financial stability risks that the Federal Reserve should treat it separately in its supervision of the financial system, Fed Governor Christopher Waller said on Thursday in a detailed rebuttal of demands for climate initiatives by the U.S. central bank. “Climate…
