(Reuters) -An April inflation reading on Wednesday that was more benign than expected disrupted the modest momentum that had been building for an 11th straight U.S. interest rate hike in June. Futures tied to the Federal Reserve’s policy rate rose after the Labor Department report, and now reflect less than a 10% chance that the…
By Daniel Leussink TOKYO (Reuters) -Toyota Motor Corp on Wednesday said it expects operating profit to climb 10% this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed…
By Gabriela Baczynska BRUSSELS (Reuters) -European Union states were holding a first discussion on Wednesday on proposed new sanctions over Russia’s war in Ukraine that would target Chinese and Iranian firms and allow export curbs on third countries for busting trade restrictions. Talks among the EU envoys were set to be heated, according to one…
(Reuters) – Twitter Inc Chief Executive Elon Musk on Tuesday revealed details about new features including adding calls and encrypted messaging coming to the platform. Last year, Musk flagged plans for “Twitter 2.0 The Everything App”, which he said would have features such as encrypted direct messages (DMs), longform tweets and payments. “Coming soon will…
A look at the day ahead in U.S. and global markets from Mike Dolan The Federal Reserve’s willingness to end its interest rate rise campaign here hinges just a few high-frequency data points over the months ahead – and April’s inflation readout sits high on that list. With markets edgy about the U.S. debt ceiling…
By Helen Reid (Reuters) -Supermarket group Ahold Delhaize expects food inflation in Europe to slow in the second half of this year, CEO Frans Muller said on Wednesday after the retailer delivered a lower profit margin in Europe that disappointed the market. Ahold shares fell 1.7% by 0940 GMT after its operating profit margin in…
(Reuters) -Britain is set to formally classify Russian mercenary force Wagner Group as a terrorist organisation as a way of increasing pressure on Russia, The Times newspaper reported on Tuesday. Wagner mercenaries have spearheaded Russia’s months-long assault on the Ukrainian city of Bakhmut. The Home Office has been building a case for two months and…
By Lewis Jackson, Siyi Liu and Melanie Burton SYDNEY (Reuters) – Australia exported roughly $40 million worth of copper ore and concentrate to China early this year, Australian customs data shows, a sign of industry hope that trade in the red metal will resume as diplomatic relations improve. Australian trade data shows exports worth A$60.5…
KARACHI, Pakistan (Reuters) -The Pakistani rupee fell 1.3% to a record low of 288.5 against the U.S. dollar on Wednesday, a day after former prime minister Imran Khan was arrested by the anti-corruption agency in Islamabad. Pakistan’s international bonds nudged lower with the 2024 issue down 0.4 cents on the dollar, according to Tradeweb data….
By Svea Herbst-Bayliss NEW YORK (Reuters) -Proxy advisory firm Institutional Shareholder Services (ISS) on Tuesday backed ValueAct Capital’s boardroom challenge at Japanese convenience store operator Seven & i Holdings by recommending shareholders elect all four of the U.S. investment firm’s director candidates. ValueAct, which owns 4.4% of Seven & i, has long criticized the company’s…
