FRANKFURT (Reuters) -The European Central Bank must be prepared to take the heat and raise interest rates further, including by more than the market expects, if that is needed to bring down inflation, ECB policymaker Isabel Schnabel said in an interview published on Saturday. The ECB raised rates for a fourth straight time last week…
FRANKFURT (Reuters) – European Central Bank policymaker Isabel Schnabel sees little risk of raising borrowing costs too far at present given that interest rates are still very low after they are adjusted for inflation, she said in an interview published on Saturday. “The danger of overreacting continues to be limited, as real interest rates are…
By Adriana Barrera MEXICO CITY (Reuters) – Mexican state oil company Pemex’s newest refinery will reach half of its crude processing capacity in July, the national president said on Friday, marking the latest shift in timing for the project’s operations. The Olmeca oil refinery, being built next to the Dos Bocas port, is set to…
By Kanishka Singh WASHINGTON (Reuters) -The U.S. awarded defense contracts to companies on Friday, including one of over a billion dollars to Lockheed Martin Corp, the Department of Defense said in a statement. “This contract procures long lead time materials, parts, components, and efforts necessary to maintain on-time production and delivery of 118 Lot 18…
By Paresh Dave, Fanny Potkin and Sheila Dang (Reuters) -Twitter Inc removed a feature in the past few days that promoted suicide prevention hotlines and other safety resources to users looking up certain content, according to two people familiar with the matter who said it was ordered by new owner Elon Musk. After publication of…
By Dawn Chmielewski, Greg Roumeliotis and Anirban Sen LOS ANGELES/NEW YORK (Reuters) -Michael Bloomberg has expressed the desire to own a big-name newspaper over the years but has not reached out to Rupert Murdoch to discuss a possible purchase of Dow Jones and its flagship paper the Wall Street Journal, sources told Reuters. News website…
By Sinéad Carew and Ankika Biswas (Reuters) – The S&P 500 closed higher on Friday, in a light trading day ahead of a long weekend, as investors assessed inflation data against rate hike and recession fears while energy shares jumped on higher oil prices. A Commerce Department report showed U.S. consumer spending barely rose in…
By Shariq Khan NEW YORK (Reuters) -Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports. Brent crude settled at $83.92, up by $2.94 or 3.6%, while U.S. West Texas…
By Jack Queen (Reuters) – FTX founder Sam Bankman-Fried clinched a bail deal on Thursday that would see him released on a $250 million bond secured against his parents’ property with restrictions on his movement. Here is an explainer on how his deal stacks up and how bail works: Was Bankman-Fried expected to get bail?…
By Shariq Khan NEW YORK (Reuters) -Oil prices rose by more than $2 per barrel on Friday after Moscow said it could cut crude output in response to the G7 price cap on Russian exports, putting the market on track for a second week of gains. Brent crude was up by $2.72, or 3.4%, to…
