By Lewis Jackson SYDNEY (Reuters) – Australia has lowered its forecast for the cost of servicing government debt over the next three years, though the government still sees annual repayments rising to a peak in fiscal 2025/26 before declining slightly. Interest payments on Australian government securities are forecast to total A$85.8 billion ($57.18 billion) between…
FRANKFURT (Reuters) – The European Central Bank will stop reinvesting cash from maturing bonds bought under its 3.2 trillion Asset Purchase Programme from July, it said on Thursday, taking another small step towards shrinking its oversized balance sheet. The ECB has been allowing 15 billion euros’ worth of bonds, mostly government debt, to expire since…
By Patturaja Murugaboopathy (Reuters) – The issuance of global mortgage-backed securities (MBS) slumped to a 23-year low in the first four months of this year, highlighting the turmoil in the real estate sector as higher mortgage rates hit property sales and refinancing. According to Refinitiv data, global MBS issuance stood at $100 billion in the…
FRANKFURT (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday and kept its options open on future moves as it continues its fight against stubbornly high inflation in the euro zone. The 25-basis-point increase to the ECB’s three policy rates was the smallest since it started lifting them…
By Dominique Vidalon PARIS (Reuters) – Heavily-indebted French retailer Casino said on Thursday sales growth slowed in the first quarter, fuelling further concerns over its ability to generate cash and sending its shares down as much as 15%. Casino, headed and controlled by veteran entrepreneur Jean-Charles Naouri, is striving to find a way out of…
By Helen Reid LONDON (Reuters) – Adidas is set to update investors on Friday about the unsold Yeezy shoes that have put the German sportswear giant in a predicament since it cut ties with Kanye West over his anti-Semitic comments late last year. Executives are expected to tackle the issue when the company reports first-quarter…
By Rodrigo Campos, Jorgelina do Rosario and Ank Kuipers NEW YORK/LONDON/PARAMARIBO (Reuters) -Suriname reached an agreement in principle with its Eurobond creditor committee for the restructuring of its debt, the government said on Wednesday. The deal to restructure Suriname’s two outstanding dollar-denominated bonds includes a single, $650 million 10-year bond with a 7.95% interest rate,…
By Mircely Guanipa PUNTO FIJO (Reuters) – More than half of the 22 oil tankers in Venezuela’s fleet are so run down that they should be immediately repaired or taken out of service, according to an internal report from state-run oil company PDVSA that was shared exclusively with Reuters. The report by PDVSA’s maritime branch,…
By Giuseppe Fonte ROME (Reuters) – Italy should introduce a tax on banks to claw back extra profits made on the back of rising interest rates that have not been passed on to consumers, an adviser to the economy ministry told Reuters on Thursday. European lenders have consistently beaten expectations in recent quarters as higher…
MILAN (Reuters) -UniCredit will use restructuring charges to help fund voluntary exits for some of the additional 1,000 employees who asked to leave under an early retirement scheme launched last year, two people close to the matter said. In reporting stronger-than-expected quarterly results, UniCredit on Wednesday raised its 2023 profit goal above 6.5 billion euros…
