By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1%…
By David Lawder WASHINGTON (Reuters) – The World Bank on Tuesday raised its 2023 global growth forecast as the U.S. and other major economies have proven more resilient than forecast, but said higher interest rates would cause a larger-than-expected drag next year. Real global GDP is set to climb 2.1% this year, the World Bank…
ISTANBUL (Reuters) – Airlines on Tuesday called for co-operation on a broad front to reach “very tough” emission targets and pledged at the end of a three-day summit to release interim climate targets next year. The International Air Transport Association (IATA), grouping 300 airlines and representing about 80% of global traffic, said governments, planemakers and…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Co said on Tuesday it is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks because engine failures may cause a fire. The recall covers various Escape and Lincoln Corsair SUVs and Maverick compact pickup trucks from the 2020-2023 model years with 2.5L hybrid…
(Reuters) – Wall Street futures slipped on Tuesday as investors assessed chances of the Federal Reserve holding interest rate at its meeting next week, with mixed data adding to uncertainty around the policy outlook. The U.S. services sector barely grew in May as new orders slowed, data on Monday showed, pushing a measure of prices…
By Hari Kishan and Sarupya Ganguly BENGALURU (Reuters) – The outlook for most major housing markets has improved slightly from three months ago despite high interest rates, according to Reuters polls of property analysts who were mostly split on whether affordability would worsen or not. House prices rose at a blistering pace across the developed…
By Maria Martinez BERLIN (Reuters) -A drop-off in spending by inflation-hit consumers was one of the main reasons Germany fell into recession in the first quarter, even as other countries in the region managed to avoid it. What’s more, even with inflation starting to ease across Europe, the signs are that Germany’s famously thrifty shoppers…
By Stephen Nellis CUPERTINO, California (Reuters) – Apple Inc on Monday let analysts and media, including Reuters, try its $3,499 Vision Pro headset. What is immediately clear is the device is not yet meant for a mass market: a test drive requires a setup session with Apple staff and a quick visit with a vision…
BEIJING (Reuters) – China will likely further cut banks’ reserve ratio and interest rates in the second half of this year to support the economy, the China Securities Journal reported on Tuesday, citing policy advisors and economists. China’s economy rebounded faster than expected in the first quarter but lost momentum at the beginning of the…
WASHINGTON (Reuters) -Life sciences firm Illumina on Monday filed an appeal against a Federal Trade Commission (FTC) order demanding that it divest cancer diagnostic test maker Grail over competition concerns in the U.S. market for cancer tests. The FTC, which enforces antitrust law, first filed a complaint in March 2021 to stop Illumina’s bid for…
