By Michael S. Derby NEW YORK (Reuters) – If economic trends that existed before the coronavirus pandemic reassert themselves, a modest cooling in the labor market may not be enough to bring down a key measure of underlying inflation, research released Wednesday from the San Francisco Fed said. The report looked at what has come…
(Reuters) – National Economic Council Director Lael Brainard on Wednesday said the latest U.S. economic data shows that upward price pressures can and are receding without a surge in unemployment that many had feared. “The economy is defying predictions that inflation wouldn’t fall absent significant job destruction,” Brainard said at an event held by the…
(Reuters) – The board of the International Monetary Fund (IMF) approved a $3 billion, nine-month bailout programme for Pakistan on Wednesday, the IMF said. Pakistan and the Fund had reached a staff level agreement late last month, securing much-needed funding for the cash-strapped country. (Reporting by Gibran Peshimam and Juby Babu; Editing by Raju Gopalakrishnan…
By Ismail Shakil and Divya Rajagopal OTTAWA (Reuters) – Canada’s corporate ethics watchdog launched separate investigations into Nike Canada and Dynasty Gold to probe allegations that they used or benefited from forced Uyghur labor in their supply chains and operations in China. The investigations were launched on Tuesday after an initial assessment of complaints about the…
By Michelle Price WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday finalized long-awaited regulations to improve the resilience and transparency of the roughly $5.5 trillion U.S. money market fund industry. A critical source of short-term corporate and municipal funding, money market funds have been bailed out by the U.S. government twice…
SANTIAGO (Reuters) – Chile’s government now expects gross domestic product (GDP) to grow 0.2% in 2023, Finance Minister Mario Marcel told the Senate on Wednesday, revising its forecast down from a previous estimate of 0.3%. Internal demand in the world’s largest copper producer is seen falling 4.1% this year from 2022, Marcel added, a larger…
BERLIN (Reuters) -Germany’s finance ministry plans to offer companies a tax relief package of around 6 billion euros ($6.61 billion) per year against the backdrop of a difficult economic environment, ministry sources said. German business morale has been deteriorating, suggesting that Europe’s largest economy will struggle to shake off recession. “The economy needs stimulus –…
(Reuters) – Inflation in Russia accelerated in June, data from the state statistics service Rosstat showed on Wednesday, a little over a week before the central bank is expected to hike interest rates for the first time in more than a year. After an emergency hike to 20% shortly after Russia invaded Ukraine in February…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) – European shares jumped on Wednesday as further evidence of easing consumer inflation in the United States boosted hopes that the Federal Reserve could end its market-punishing interest rate hikes soon, with technology and miners leading gains. The pan-European STOXX 600 index closed 1.5% higher, extending gains to…
By Anirban Sen NEW YORK (Reuters) -Wildcat Capital Management LLC, which manages the wealth of buyout firm TPG Inc’s co-founder David Bonderman, has asked Consolidated Communications Holdings Inc to reject an offer to take the company private for $2.9 billion including debt. A non-binding $4-per-share all-cash offer for the broadband services provider undervalues it by…
