BERLIN (Reuters) – Germany’s BDI industry association expects exports to grow by 2% in 2023, double its forecast in January, its president told the Rheinische Post newspaper in comments published on Saturday. “Things are looking up, but only slowly – we must not be satisfied with that,” BDI President Siegfried Russwurm told the newspaper. Even…
By Andrea Shalal WASHINGTON (Reuters) -International Monetary Fund chief Kristalina Georgieva said on Friday that debtors and creditors made “tangible progress” on debt restructuring issues this week, but urged countries facing mounting debt problems to seek help earlier in the process. A new sovereign debt roundtable was helping to accelerate work on debt restructurings, Georgieva…
By Graham Fahy and Steve Holland BALLINA, Ireland (Reuters) -U.S. President Joe Biden gave a rousing campaign-style speech to an exuberant crowd in his ancestral home town in the west of Ireland on Friday to wrap up a nostalgic three-day state visit ahead of what is expected to be a gruelling 2024 re-election bid. Biden…
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund’s steering committee on Friday said it would accelerate its discussions on quota reforms at the global lender with an eye to making “considerable progress” by its next meeting in October. Spanish Economy Minister Nadia Calvino, who chairs the International Monetary and Financial Committee…
By Elizabeth Pineau, Noemie Olive and Ingrid Melander PARIS (Reuters) -French President Emmanuel Macron’s flagship pension reform will enter into force swiftly, officials said on Friday after it received the Constitutional Council’s approval despite months of street protests and strikes. The legislation, which pushes up the age at which one can draw a pension to…
By Herbert Lash NEW YORK (Reuters) – Treasury yields rose and the dollar index bounced off a one-year low on Friday after a decline in U.S. retail sales suggested the economy is slowing but not fast enough to stop the Federal Reserve from raising interest rates again in May. Stocks on Wall Street fell and…
SHANGHAI (Reuters) – China’s Zeekr has hired a former Lexus executive to helm its operations in Europe, according to a memo seen by Reuters, as the electric vehicle (EV) maker plans to sell into the region later this year. Spiros Fotinos, who spent 24 years with Toyota and led the brand management of Lexus globally,…
By Leika Kihara WASHINGTON (Reuters) – China’s central bank governor on Friday took a swipe at efforts by Western economies to trade more with allies and rely less on the world’s largest goods-exporting country, saying such “friend-shoring” attempts could prevent global supply chain tension from easing. Reducing their deep dependence on supply chains with China…
(Reuters) – France’s Constitutional Council is due to deliver its verdict on Friday on a deeply unpopular bill which will delay retirement by two years to 64, and on plans for a referendum to challenge it. Here is why this matters and what could happen: VERDICT ON THE PENSION BILL * The Council can strike…
By Karen Brettell NEW YORK (Reuters) – The dollar index bounced off a one-year low against a basket of currencies on Friday after some March retail sales components were not as weak as some economists had feared, while a key Federal Reserve official warned that the U.S. central bank needs to continue hiking interest rates…
