BEIJING (Reuters) -China’s cabinet on Tuesday issued a plan to stabilise its vital trade sector, including supporting exports of automobiles and facilitating visas for overseas businessmen, as subdued global demand threatens its exports outlook. The move came after Chinese officials repeatedly warned of a severe and complicated situation for foreign trade development as exporters reported…
(Reuters) – Homebuilder and mortgage banking company NVR Inc beat analysts’ expectations for first-quarter profit on Tuesday, helped by higher home prices. U.S. home prices have remained elevated as a shortage of homebuilding supplies limited the availability of new homes, helping counter lower demand from a jump in mortgage rates following the Federal Reserve’s aggressive…
By Shristi Achar A (Reuters) – Canada’s main stock index fell on Tuesday as investors remained on the sidelines in an earnings-heavy week, while weakness in crude and copper prices dragged the commodity stocks lower. At 10:03 a.m. ET (1403 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 113.01 points, or 0.55%, at…
BRASILIA (Reuters) – Brazilian central bank Governor Roberto Campos Neto ruled out an imminent interest rate cut by emphasizing that the country’s benchmark rate for borrowing costs is appropriate for addressing current inflation concerns. Speaking at a highly anticipated Senate Economic Affairs Committee hearing, he also said that policymakers need to ensure that inflation expectations…
WASHINGTON (Reuters) – Sales of new U.S. single-family homes jumped to a one-year high in March, likely as a retreat in mortgage rates boosted demand. New home sales surged 9.6% to a seasonally adjusted annual rate of 683,000 units last month, the highest level since March 2022, the Commerce Department said on Tuesday. February’s sales…
By Richa Naidu LONDON (Reuters) – Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee and Maggi stock cubes, said sales rose 5.6% to 23.5 billion Swiss francs ($26.48 billion) in the…
(Reuters) – U.S. consumer confidence fell to a nine-month low in April led by a darkening outlook that augers a recession beginning in the near future, a survey showed on Tuesday. The Conference Board said its consumer confidence index fell to 101.3 – the lowest since July 2022 – from a revised 104.0 in March….
WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday formally launched his 2024 re-election bid, promising protection against right-wing extremists and highlighting the Jan. 6, 2021, attack on the U.S. Capitol by supporters of then-President Donald Trump. Vowing to “finish this job” of leading America, Biden also vowed to fight efforts to limit women’s healthcare,…
By Kate Abnett BRUSSELS (Reuters) -EU countries on Tuesday gave the final approval to the biggest revamp to date of Europe’s carbon market, which is set to make it more costly to pollute and sharpen the 27-member bloc’s main tool for cutting carbon dioxide emissions. The world’s first major carbon trading system has since 2005…
WASHINGTON (Reuters) – U.S. single-family home prices increased in February after seven straight monthly declines likely as a dip in mortgage rates at the start of the year fueled demand, but the overall trend continued to point to a slowdown in house price inflation. The S&P CoreLogic Case-Shiller national home price index, covering all nine…
