By Alex Lawler and Dmitry Zhdannikov VIENNA (Reuters) – OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above-average increase, sources close to OPEC said. OPEC’s forecast for 2024 will likely be…
WASHINGTON (Reuters) – The U.S. trade deficit narrowed in May, with imports of goods dropping to their lowest level since late 2021 as higher borrowing costs slow domestic demand. The trade deficit decreased 7.3% to $69.0 billion, the Commerce Department said on Thursday. Data for April was revised slightly to show the trade gap widening…
By Pratima Desai LONDON (Reuters) – China’s abrupt announcement this week that it will restrict exports of some germanium and gallium products from Aug. 1 is expected to disrupt global supply chains for semiconductors. For metals such as aluminium, copper and zinc traded on the London Metal Exchange, the price reaction to disruptions or the…
By Foo Yun Chee BRUSSELS (Reuters) -The metaverse, shared virtual worlds accessible through the internet, has not triggered any concerns so far or the need for legislation to rein it in, EU antitrust chief Margrethe Vestager said on Thursday. An initiative that she will present on the metaverse next week aims to help competition regulators…
WASHINGTON (Reuters) – U.S. private payrolls increased more than expected in June, indicating that the labor market remains strong despite growing risks of a recession from higher interest rates. Private payrolls jumped by 497,000 jobs last month, the ADP National Employment report showed on Thursday. Data for May was revised lower to show 267,000 jobs…
MILAN (Reuters) – Details of how billionaire Italian tycoon Silvio Berlusconi divided up his assets have been made public on Thursday after the will of the former prime minister, who died on June 12, was unsealed. Under Italian law, the deceased’s heirs have a right to inherit two-thirds of his wealth in equal parts, while…
By Amruta Khandekar and Siddarth S (Reuters) – Foreign hedge funds have been lapping up Argentinian equities at cheap valuations in anticipation of a change in political regime and given sky-high inflation, pushing the country’s benchmark stock index to a record high. Argentina’s S&P MerVal index has more than doubled in the first six months…
BEIJING (Reuters) – China will take measures to support growth and employment, as well as to prevent risks, state media cited Premier Li Qiang as saying on Thursday. The country will establish appropriate communication channels between the government and foreign and private companies, Li said, while presiding over a symposium on the economic situation. (Reporting…
By Gabriel Burin BUENOS AIRES (Reuters) – Brazil’s currency will likely enjoy some support in the near term from faster economic growth and progress on reforms, despite the prospect of less favorable interest rate spreads ahead, a Reuters poll showed. The real appreciated last month to its firmest level in a year after several forecasts…
BERLIN (Reuters) – Mercedes-Benz wants to extend Chief Executive Ola Kallenius’ contract, keeping the 54-year-old at the helm of the German carmaker until at least mid-2029, German daily Handelsblatt reported on Thursday, citing supervisory board sources. The board is aiming to extend Kallenius’ contract, which will expire in May 2024, this summer, the daily reported….
