By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar crashed to its lowest in more than a year on Wednesday after data showed the rise in U.S. consumer prices moderated in June, suggesting the Federal Reserve may have to raise interest rates only one more time this year. The dollar index dropped to as low…
WASHINGTON (Reuters) – U.S. President Joe Biden will host Italian Prime Minister Giorgia Meloni at the White House on July 27, and the two leaders will discuss issues including the Ukraine war and transatlantic cooperation regarding China, the White House said on Wednesday. They will “reaffirm the strong relationship between the United States and Italy,”…
WASHINGTON (Reuters) – The State Department on Wednesday said it has no reason to doubt Microsoft’s accusation that Chinese state-linked hackers since May have secretly accessed email accounts at around 25 organizations, including U.S. government accounts, in a stealthy cyberespionage campaign. State Department spokesperson Matthew Miller said the agency had detected anomalous activity in June…
PARIS (Reuters) -With the exception of Canada, countries with digital services taxes have agreed to hold off applying them for at least another year as a global multinationals tax deal to replace them was pushed back, the OECD said on Wednesday. More than 140 countries were supposed to start implementing next year a 2021 deal…
By Daniel Wiessner (Reuters) – Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company. Courtney McMillian, who oversaw Twitter’s employee benefits programs as its “head of total rewards”…
By Steve Holland VILNIUS (Reuters) – U.S. President Joe Biden told Ukrainian President Volodymyr Zelenskiy on Wednesday that he looks forward to the day he can welcome Ukraine to NATO, aiming to take the sting out of recent comments that now was not the time for Ukrainian membership in the military alliance. “Your resilience and…
BERLIN (Reuters) -Germany’s finance ministry plans to offer companies a tax relief package of around 6 billion euros ($6.61 billion) per year against the backdrop of a difficult economic environment, ministry sources said. German business morale has been deteriorating, suggesting that Europe’s largest economy will struggle to shake off recession. “The economy needs stimulus –…
(Reuters) – Inflation in Russia accelerated in June, data from the state statistics service Rosstat showed on Wednesday, a little over a week before the central bank is expected to hike interest rates for the first time in more than a year. After an emergency hike to 20% shortly after Russia invaded Ukraine in February…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) – European shares jumped on Wednesday as further evidence of easing consumer inflation in the United States boosted hopes that the Federal Reserve could end its market-punishing interest rate hikes soon, with technology and miners leading gains. The pan-European STOXX 600 index closed 1.5% higher, extending gains to…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom secured EU antitrust approval on Wednesday for its $61 billion proposed acquisition of cloud computing firm VMware after offering remedies to help rival Marvell Technology. The deal, Broadcom’s largest ever, will help the chipmaker diversify into enterprise software. Broadcom offered Marvell and other rivals interoperability…