By Howard Schneider WASHINGTON (Reuters) – St. Louis Federal Reserve President James Bullard said on Friday he was ready to keep an “open mind” about whether to raise rates or hold them steady at the Fed’s June meeting, joining the “data dependent” stance of his colleagues after a year of urging them on to consecutive…
By Karen Brettell NEW YORK (Reuters) – The dollar gave back earlier gains against the euro but stayed stronger against the yen on Friday after jobs gains and wage growth for April beat economists’ forecasts but showed downward jobs revisions for March. Employers added 253,000 jobs, beating economists’ forecasts for a 180,000 gain. U.S. average…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose on Friday but fell for the third straight week after a sharp fall earlier this week ahead of benchmark interest rate rises and on concern that the U.S. banking crisis will slow the economy and sap fuel demand. Brent crude closed $2.80, or 3.9% higher, at $75.30…
By Michelle Nichols UNITED NATIONS (Reuters) – The United Nations said on Friday it will continue to keep Afghan staff working from home after the Taliban administration began enforcing a ban on Afghan women working for the world body a month ago. The United Nations has some 3,300 Afghan staff, of whom about 400 are…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth accelerated in April while wage gains increased solidly, pointing to persistent labor market strength that could compel the Federal Reserve to keep interest rates higher for longer as it fights to bring inflation under control. The Labor Department’s closely watched employment report on Friday also showed…
WASHINGTON (Reuters) – The quarter point rate increase approved by the Federal Reserve this week was “a good next step” in the fight against inflation, St. Louis Fed President James Bullard said on Friday. “We have a lot of inflation in the U.S. economy,” Bullard said in the first policymaker comments since the Fed’s latest…
By Noel Randewich (Reuters) – Apple’s stock surged nearly almost 5% on Friday, hitting a nine-month high and on track for its biggest one-day gain since November after the iPhone maker’s quarterly results cheered investors worried about a potential recession. (Graphic: Apple surges as Tim Cook keeps steady hand on helm – https://fingfx.thomsonreuters.com/gfx/mkt/zdvxdgxddvx/Pasted%20image%201683306123687.png) The rally…
By Ritsuko Shimizu TOKYO (Reuters) – A spin-off of 7-Eleven would jeopardise the convenience store chain’s future growth by cutting it off from its parent’s strength in the food business, the chief executive of Japan’s Seven & i Holdings Co Ltd told Reuters. The comments from Ryuichi Isaka come as he faces a call for…
By Bianca Flowers and Giulio Piovaccari MILAN (Reuters) – Agricultural and construction machine maker CNH Industrial on Friday raised its full-year revenue forecast as operating profit topped expectations in the first quarter, aided by a strong order backlog and resilient demand for its large tractors. Shares for the global industrial manufacturer rebounded in early trading…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) – Philippine annual inflation was on track to settle within the government’s 2% to 4% target in the fourth quarter after it eased further in April, officials said on Friday, building the case for pausing interest rate hikes. The consumer price index rose 6.6% in…
