By Lisandra Paraguassu BRASILIA (Reuters) -Brazil offered on Tuesday to help cash-strapped Argentina and provide support to Brazilian exporters so that they can continue to sell to the neighboring country, their main exporting market for manufactured goods. “We are not discussing just helping Argentina. We need to help Brazilian businesses that export to Argentina, like…
INCHEON, South Korea (Reuters) -South Korea’s central bank chief welcomed an easing in inflation but said it was “a little bit premature” to suggest it will start to cut rates as early as this year given that inflation is still above its policy target. Bank of Korea Governor Rhee Chang-yong also said during an interview…
By Sujith Pai BENGALURU (Reuters) – Indonesian annual economic growth likely slowed to its weakest in more than a year in January-March and shrank on a quarterly basis as lower commodity prices hit exports and higher interest rates restricted domestic demand, a Reuters poll found. Southeast Asia’s largest economy grew 4.95% in the first quarter…
By Pete Schroeder (Reuters) – The U.S. Senate Banking Committee said on Tuesday it would hear from former top officials at the failed Silicon Valley Bank and Signature Bank, as well as top U.S. banking regulators at separate hearings later this month. Gregory Becker, the former CEO of Silicon Valley Bank, and Scott Shay and…
By Daina Beth Solomon MEXICO CITY (Reuters) – Thousands of pro-business union contracts in Mexico are set to expire as Mexico ends a historic campaign to wipe out deals between employers and unions cozy with management that have kept wages low, a key commitment under a North American trade deal. Of 139,000 collective contracts in…
By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve kicks off a two-day policy meeting on Tuesday that is likely to push the U.S. central bank’s benchmark overnight interest rate to its highest level in nearly 16 years, hitting a potential plateau that will test the economy in a way not seen since the onset…
(Reuters) -PNC Financial Services Group Inc said on Tuesday the parent company and its banking unit can offer up to $15 billion of its commercial paper to provide additional liquidity. The regional bank, which has so far been insulated from deposit flight, said in a filing the holding company can offer up to $5 billion…
By Andrea Shalal WASHINGTON (Reuters) -A top White House economist on Tuesday said Federal Reserve interest rate hikes aimed at curbing inflation were having a negative impact on the banking sector, and warned Republicans against worsening the situation with their debt ceiling threats. Heather Boushey, a member of the White House Council of Economic Advisers,…
SAO PAULO(Reuters) -Carrefour Brasil reported a first quarter net loss of 113 million reais ($22.39 million), hit by high investment costs at its acquired food retailer Grupo BIG, the company said in a filing with Brazil’s main stock exchange on Tuesday. The company posted a net profit of 370 million reais in the same January-to-March…
By Caroline Valetkevitch NEW YORK (Reuters) – Major U.S. stock indexes fell more than 1% each on Tuesday as regional bank shares tumbled on renewed fears over the financial system and as investors tried to gauge how much longer the Federal Reserve may need to hike interest rates. The Fed is expected to announce Wednesday…
