By Lisa Baertlein LOS ANGELES (Reuters) – Closely watched U.S. retail trade forecasters on Monday lowered their import target for the first half of 2023 and said they expect incoming ocean container volume to remain soft going into this autumn – when retailers like Walmart should be well into holiday season preparations. The Global Port…
(Reuters) – U.S. households still have some $500 billion in excess savings compared to before the COVID-19 pandemic that could support consumer spending late into this year, according to research published on Monday by the San Francisco Federal Reserve. “Households on average, including those at the lower end of the distribution, continue to have considerably…
By Ariba Shahid KARACHI, Pakistan (Reuters) – China and Pakistan on Monday urged donors to bridge gaps in humanitarian funding for Afghanistan, saying aid should be delinked from “political considerations”. Aid to Afghanistan will drop sharply this year as donor countries seek to challenge curbs on female aid workers imposed by the Taliban administration and try to…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador gave the U.S. dollar a vote on confidence on Monday after he was asked if a weakening greenback might spur a move to diversify Mexico’s foreign currency reserves. “We are going to continue considering the dollar as the world’s principal currency,” Lopez Obrador told a…
(Reuters) – Euro zone inflation will slow sharply this year but price growth momentum remains high for now, including for underlying goods and services, European Central Bank chief economist Philip Lane said on Monday. The ECB has lifted rates at its past seven meetings but slowed the pace of hikes last week, arguing that plenty…
By Shivangi Acharya NEW DELHI (Reuters) -India’s Financial Stability and Development Council (FSDC) considers the country’s banking system to be protected from any spillover from issues in the sector globally, the country’s economic affairs secretary said on Monday. Ajay Seth was speaking with reporters after the meeting of FSDC, which is chaired by the finance…
WASHINGTON (Reuters) -U.S. wholesale inventories were unchanged for the second straight month in March, while softening demand meant that it would now take wholesalers the longest time in nearly three years to clear the current stock of goods. The Commerce Department last month estimated wholesale inventories gained 0.1% in March. Economists polled by Reuters had…
By Laura Matthews and Alun John NEW YORK/LONDON (Reuters) – The dollar remained relatively weaker against most of its major peers on Monday, as traders wait for the Federal Reserve to acknowledge an end to its hiking cycle while trying to hedge the risk of potential recession. The dollar index, which measures the currency against…
SAO PAULO (Reuters) -Itau Unibanco Holding SA, Brazil’s biggest private bank, reported on Monday first-quarter recurring net profit up 14.6% year-on-year, boosted by a larger loan portfolio with better spreads even as provisions for bad loans increased. The bottom line of 8.44 billion reais ($1.7 billion) was broadly in line with expectations of 8.42 billion…
By Ali Kucukgocmen ISTANBUL (Reuters) – Istanbul barber Hakim Ekinci, a long-time supporter of Tayyip Erdogan, won’t be voting for the president next Sunday, blaming his economic policies for eroding Turks’ purchasing power and leaving many unable to afford even basic foodstuff. Erdogan and his Islamist-rooted AK Party were able to maintain their voter base,…
