PARIS (Reuters) – The European Central Bank has travelled most of the way in its campaign to raise interest rates, French ECB policymaker Francois Villeroy de Galhau said on Wednesday, adding that further rate hikes would be “more marginal”. “What remains to be done is more marginal,” Villeroy told newspaper group EBRA. “It is the…
By Chibuike Oguh NEW YORK (Reuters) – A gloomy forecast from vacation rental firm Airbnb weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb, which reported a 20% rise in quarterly revenue on Wednesday,…
By Lucia Mutikani WASHINGTON (Reuters) – The annual increase in U.S. consumer prices slowed to below 5% in April for the first time in two years, while a key inflation measure monitored by the Federal Reserve subsided, potentially providing cover for the central bank to pause further interest rate hikes next month. Nevertheless, inflation remains…
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators are set to approve Microsoft Corp’s $69 billion acquisition of Activision next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission’s imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever…
By David Lawder WASHINGTON (Reuters) -The U.S. government reported a $176 billion surplus in April, down sharply from a year-ago record as revenues fell, the U.S. Treasury Department said on Wednesday as a June 1 deadline for a potential debt ceiling default drew closer. The April surplus, which reflects tax filing season receipts, was down…
By Hyunjoo Jin and Kiyoshi Takenaka SAN FRANCISCO/TOKYO (Reuters) – Panasonic said on Wednesday that it will delay the commercial production of its 4680 battery cells championed by Tesla CEO Elon Musk and begin operations during the April to September period in 2024, later than previously scheduled, as the company aims to improve their performance. …
(Reuters) -Microsoft Corp said on Wednesday it will not raise salaries for full-time employees this year, citing tough economic conditions, but will continue with its bonuses, stock awards and promotions. The company, which is now squarely focused on the lucrative generative AI, had in January decided to let go 10,000 employees, joining other technology companies…
BERLIN (Reuters) – With China and the U.S. fixated on each other, Europe is at risk of being paralysed in between and needs to steer its own agenda, German Economy Minister Robert Habeck said on Wednesday. “If we had to choose between the U.S. and China, we would have extreme problems,” Habeck said as he…
PARIS (Reuters) – The French economy is set to grow slightly in the second quarter when compared to the previous one, the country’s central bank said on Wednesday, as activity across sectors picked up steam. The Bank of France said companies polled in its monthly business sentiment survey reported activity in April was stronger than…
By Rajesh Kumar Singh CHICAGO (Reuters) – Shifting travel patterns by consumers in a post-pandemic world are forcing airlines to guess at what is the “new normal” as they seek to adjust by cutting flights, revamping networks and packing even more passengers into planes. Even as the thirst for travel remains strong, the changing trends…
