By Wayne Cole SYDNEY (Reuters) -Australian inflation eased from 33-year highs in the first quarter as the cost of living saw the smallest rise in more than a year, while core inflation dipped below forecasts suggesting less pressure for another hike in interest rates. Investors reacted by lengthening the odds on the Reserve Bank of…
MEXICO CITY (Reuters) – The Bank of Mexico’s governing board may consider keeping its benchmark interest rate steady at its next monetary policy meeting, in what would be its first rate hold after 15 straight hikes, Central Bank Governor Victoria Rodriguez said on Tuesday. Banxico, as the Mexican central bank is known, hiked its key…
By Leika Kihara TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda said on Wednesday the central bank’s response to cost-push inflation would depend on economic conditions. “In general, dealing with cost-push inflation is very difficult for central banks. On the one hand, you’d like to curb inflation. On the other hand, you don’t want to…
By Yuvraj Malik and Jane Lanhee Lee (Reuters) -Microsoft Corp beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter…
By Andrea Shalal WASHINGTON (Reuters) – World Bank Chief Economist Indermit Gill is calling for new approaches to address the mounting debt crisis facing many countries, including steps to factor domestic borrowing into assessment of a country’s debt sustainability. Gill told Reuters the Common Framework set up by the Group of 20 major economies to…
LONDON (Reuters) – British sandwich and coffee chain Pret A Manger has raised the price of its monthly coffee subscription service by 20% to 30 pounds ($37.34) but expanded it to include a 10% reduction on everything sold in its shops. The group, commonly referred to as Pret, launched its coffee subscription service in September…
By David Lawder WASHINGTON (Reuters) – Rapid aging of both wealthy and middle-income countries will make their economies increasingly dependent on migration from poorer countries, and the process needs to be better managed, the World Bank said on Tuesday. The bank’s latest World Development Report said that about 184 million people across the world now…
By Tom Polansek CHICAGO (Reuters) -Cargill Inc will need months to fully sever ties with a U.S. company fined for hiring kids to do dangerous work cleaning meat plants, the head of the meatpacker’s North American protein business said on Tuesday. The timeline shows the challenges of quickly finding and implementing replacements for Packers Sanitation…
By David Shepardson WASHINGTON (Reuters) – Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007,…
By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – Wall Street’s major averages suffered their deepest declines so far this month as a downbeat UPS forecast exacerbated investor concerns about a slowing U.S. economy on Tuesday while plunging deposits at regional First Republic Bank added to jitters about the bank sector’s health. Shares in…
