By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar fell on Thursday as weak data reinforced expectations the world’s largest economy is likely headed toward recession, further supporting the view that the Federal Reserve could pause in June after another expected rate hike next month. The greenback hit session lows against the yen and…
By Ismail Shakil OTTAWA (Reuters) -The impact of higher U.S. interest rates on the Canadian dollar is not a “major concern,” and the Bank of Canada (BoC) would have to react only if there is a substantial depreciation of the loonie, Governor Tiff Macklem said on Thursday. Macklem, appearing before a Canadian Senate committee, was…
By Davide Barbuscia NEW YORK (Reuters) – A debt ceiling fight is looming in the U.S. yet again, giving investors another worry for markets this year. The U.S. government’s deadline to raise the $31.4 trillion debt ceiling could be sooner than expected, analysts have said, pulling forward the risk of a debt default that could…
BERLIN (Reuters) -Mercedes-Benz on Thursday posted first-quarter group adjusted return on sales of 14.8%, above market expectations, boosted by higher prices and strong demand. “Mercedes-Benz Cars delivered an adjusted return on sales of 14.8%, due to healthy net pricing, higher sales and a good product mix,” the carmaker said in a statement. Analysts expected an…
By Laila Kearney NEW YORK (Reuters) -Oil prices slid by about $2 a barrel to their lowest level since late March on Thursday, dragged lower by fears a possible recession could dent fuel demand and after a rise in U.S. gasoline inventories. Brent crude futures settled at $81.10 a barrel, shedding $2.02, or 2.4%. West…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said she is insisting that next steps in the World Bank’s evolution be taken in coming months, including potential changes to allow the bank’s private sector and poor country lending arms to lend to sub-sovereign entities like cities and regional authorities. Yellen told Reuters…
OTTAWA (Reuters) -Canada has agreed to provide up to C$13 billion ($9.7 billion) in subsidies and a C$700 million grant to lure Volkswagen AG into building its North American battery plant in the country, a government source said on Thursday. The total Canadian investment, which could also include funds from the Ontario government, will largely…
(Reuters) -Alphabet Inc is combining Google Brain and DeepMind, as it doubles down on artificial intelligence research in its race to compete with rival systems like OpenAI’s ChatGPT chatbot. The new division will be led by DeepMind CEO Demis Hassabis and its setting up will ensure “bold and responsible development of general AI”, Alphabet CEO…
PARIS (Reuters) – French carmaker Renault has picked BNP Paribas, Goldman Sachs and JPMorgan among the investment banks slated to work on the planned listing of its electric car business, Ampere, a source close to the matter said on Thursday. The three banks will act as joint global coordinators on the initial public offering (IPO)…
SAO PAULO/BRASILIA (Reuters) -Brazil’s finance minister said on Thursday the country would implement a “digital tax” on shipments from e-commerce giants, after backtracking earlier this week from a decision to tax individual-to-individual shipments of up to $50. “We will follow the example of developed nations, a digital tax,” Finance Minister Fernando Haddad told reporters. “Consumers…
