By Sergio Goncalves LISBON (Reuters) -The European Central Bank’s key interest rate is approaching its peak but further adjustments are still necessary, ECB Governing Council member Mario Centeno said on Wednesday, adding he expected rates to start easing at some point during next year. “We must be approaching the terminal rate,” he told a press…
(Reuters) – Russia’s federal budget recorded a 3.4 trillion rouble ($43.8 billion) deficit in the first four months of the year, the finance ministry said on Wednesday, as Moscow continued to spend heavily and energy revenue fell sharply. In the same period of 2022 Russia posted a surplus of 1.2 trillion roubles, but since then…
By Karin Strohecker, Jorgelina do Rosario and Ariba Shahid LONDON/KARACHI (Reuters) -The political crisis engulfing Pakistan is eroding hopes that the South Asian country can get its much needed programme with the International Monetary Fund back on track soon and escape a full-blown debt crunch, analysts said. Deadly clashes between supporters of Imran Khan and…
By Shariq Khan BENGALURU (Reuters) -Oil prices fell about 2% in a volatile trade on Wednesday, on track to end a three-day rally, as economic data suggested that the U.S. Federal Reserve might hike interest rates further in its bid to combat inflation. Brent crude dropped $1.48, or 1.9%, to $75.96 a barrel by 1:28…
(Reuters) – First Citizen BancShares Inc on Wednesday reported a gain of $9.82 billion in the first quarter from its acquisition of failed lender Silicon Valley Bank in March. The windfall helped drive a surge in its profit to $9.50 billion, or $653.64 per share, for the three months ended March 31 from $264 million,…
By Yousef Saba and Rachna Uppal DUBAI (Reuters) – Lucid’s electric vehicles are often displayed prominently at public events and financial conferences in Saudi Arabia to symbolise its crown prince’s multi-billion dollar “Vision 2030”. The electric car maker is among the biggest U.S. investments by Saudi Arabia’s Public Investment Fund (PIF) which has been tasked…
By Chris Taylor NEW YORK (Reuters) – Whether they actively teach us about finances, or we just observe how they handle the business of life, mothers can have a massive influence on our financial lives. For Mother’s Day, we asked a few business leaders about the best money advice they ever got from their moms….
By Davide Barbuscia NEW YORK (Reuters) -The cost of insuring exposure to U.S. government debt rose to fresh highs on Wednesday, as President Joe Biden and top lawmakers remained deadlocked in talks over raising the $31.4 trillion federal borrowing limit. Spreads on U.S. one-year credit default swaps (CDS) – market-based gauges of the risk of…
By Chris Prentice NEW YORK (Reuters) – Federal prosecutors in Washington are looking into short seller activity around the recent volatility in U.S. bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter said. Short sellers, traders that profit by betting shares will fall, have come under…
By Alun John and Ankur Banerjee LONDON/SINGAPORE (Reuters) – Investors are getting more bang for their buck this year by buying European companies with a focus on China than buying Chinese companies themselves, a sign of the unevenness of China’s pandemic recovery and geopolitical concerns. Late last year, China dismantled its strict zero-COVID policy, helping…
