By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s annual inflation rate eased in March to 4.3%, its slowest pace in 19 months but still more than double the Bank of Canada’s 2% target, data showed on Tuesday. The headline inflation figure fell from 5.2% in February, matching expectations, as a decline in energy prices…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Beleaguered bitcoin miners are finally feeling the spring sunshine after a cold, hard crypto winter. The power-hungry companies that pump new bitcoin into circulation have been thrown a lifeline by the cryptocurrency’s rally to above $30,000 this year, which has conspired with falling electricity prices to…
WASHINGTON (Reuters) – There was “some evidence” that China wants the dollar to weaken as the international reserve currency, said a White House nominee for a top economist position on Tuesday, and he urged Congress to raise the U.S. debt ceiling to protect the dollar’s value. Jared Bernstein, a member of the White House Council…
By Michael S. Derby (Reuters) -The U.S. central bank most likely has one more interest rate rise ahead of it as it continues to work to lower high inflation, Atlanta Federal Reserve President Raphael Bostic said on Tuesday. “One more move should be enough for us to then take a step back and see how…
By Greg Bensinger (Reuters) -Opendoor Technologies Inc on Tuesday said it was cutting roughly 560 jobs, or 22% of the workforce at the online U.S. real estate firm, citing a declining housing market. The announcement followed a previous round of layoffs in November when the San Francisco company cut 550 jobs, or about 18% of…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday will lay out the Biden administration’s principal objectives for the U.S.-China economic relationship in a speech in Washington, the Treasury said on Tuesday as tensions between the world’s two largest economies has thwarted high-level meetings. Yellen, who said last week she still hopes to visit…
By Andrea Shalal WASHINGTON (Reuters) -The White House on Tuesday said it is closely tracking developments in commercial real estate after recent strains in the banking sector, given that many smaller and mid-sized banks have “non-trivial” holdings in commercial real estate. Jared Bernstein, a member of the White House Council of Economic Advisers (CEA), told…
By Andrew Chung WASHINGTON (Reuters) -U.S. Supreme Court justices on Tuesday appeared ready to bolster the ability of employees to obtain accommodations at work for their religious practices in a case involving an evangelical Christian former mail carrier’s claim of discrimination against the U.S. Postal Service. The nine justices heard oral arguments in an appeal…
By Noel Randewich (Reuters) – Nvidia’s stock jumped to its highest in a year on Tuesday, extending a recent rebound after HSBC flipped its recommendation on the graphics chipmaker to “buy” from “reduce,” pointing to opportunities in artificial intelligence. HSBC Head of Technology Research Frank Lee had been the only one among 48 analysts covering…
(Reuters) – A so-called “wholesale” central bank digital currency could hold promise for the future settlement of certain financial market transactions and processing international payments, Federal Reserve Governor Michelle Bowman said on Tuesday. While a digital dollar could make sense for interbank transactions, there could be unintended consequences like disruptions to the banking system if…
