By Dave Sherwood HAVANA (Reuters) – Russian Foreign Minister Sergei Lavrov met on Thursday with Cuban President Miguel Diaz-Canel and Foreign Minister Bruno Rodriguez in Havana, the latest in a series of visits to shore up support among Russia’s closest allies in Latin America. Russia, hit by Western sanctions over the conflict in Ukraine, is…
By Michael S. Derby NEW YORK (Reuters) -Cleveland Federal Reserve President Loretta Mester said on Thursday the U.S. central bank still has more interest rate increases ahead of it, while noting the aggressive move to boost the cost of borrowing over the last year to quash high inflation is nearing its end. “Demand is still…
By Walter Bianchi BUENOS AIRES (Reuters) – Argentina’s peso currency sank in widely used parallel markets on Thursday, hitting a record low against the U.S. dollar as concerns grew about the Latin American country’s economy, with 104% inflation, reserves dwindling and drought hitting exports. The black market peso, one of several unofficial rates that have…
By Emilio Parodi and Mimosa Spencer MILAN/PARIS (Reuters) -Europe’s flourishing luxury goods industry was under scrutiny on Thursday after European Union antitrust regulators inspected Gucci’s Milan headquarters this week as part of an investigation spanning several countries and companies. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector…
(Reuters) – The unprecedented speed at which depositors pulled their money from Silicon Valley Bank outpaced the ability of the Federal Reserve to act as lender of last resort, underscoring the need for faster processing of emergency loans, Fed Governor Christopher Waller said on Thursday. Since the run on SVB that forced regulators to shut…
By Nandita Bose WASHINGTON (Reuters) -Republican U.S. lawmakers on Thursday criticized President Joe Biden’s nominee for U.S. labor secretary, Julie Su, saying she dismantled the gig economy, hurting companies such as Uber and DoorDash Su, a civil rights lawyer and former California labor commissioner, found unequivocal support from several Democrats on the committee. She needs…
By Helen Reid LONDON (Reuters) – IKEA stores owner Ingka Group will spend 2 billion euros ($2.2 billion) expanding in the United States over the next three years, its biggest investment in a single country, in a bet to win American customers as other big-box retailers close stores. Sweden’s IKEA, which opened its first U.S….
MILAN (Reuters) -Sales at Italian luxury group Salvatore Ferragamo declined by 6.5% at constant exchange rates in the first quarter hit by a slowdown in the U.S. market, the company said on Thursday. Revenues totalled 278 million euros ($305 million), broadly in line with analyst expectations of 280 million euros, according to a Refinitiv consensus….
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, suggesting the labor market was gradually slowing as the Federal Reserve’s year-long interest rate hiking campaign dampens demand. Though measured, the loss of labor market momentum added to slumping retail sales and manufacturing activity in…
NEW YORK (Reuters) -Blackstone Inc, the biggest manager of private equity and real estate assets, said on Thursday it was discussing partnerships with U.S. regional banks to help them with constraints in areas such as car loans and home improvement financing. The New York-based firm, which is one of the world’s biggest non-bank lenders, said…
