By Howard Schneider WASHINGTON (Reuters) – U.S. consumer inflation hit another four-decade high in March when it reached 8.5% in large part on gasoline prices surging to a record, but the data sported enough soft spots for some Wall Street pundits to declare “peak inflation” was at hand. The Federal Reserve certainly hopes it is….
By Katanga Johnson WASHINGTON (Reuters) -Global equities reversed earlier gains on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations gave investors some relief. The U.S. consumer price index rose 1.2% last month, the biggest increase in 16-1/2 years and cementing the case for a…
By Hannah Lang WASHINGTON (Reuters) -The dollar rebounded on Tuesday after digesting slightly softer-than-expected U.S. inflation data, while the euro extended losses ahead of a policy-setting meeting at the European Central Bank. Federal Reserve Governor Lael Brainard said on Tuesday that there were some signs of “welcome” cooling in the latest inflation readout, but emphasized…
By Gilles Guillaume PARIS (Reuters) -Renault Chief Executive Luca de Meo said on Tuesday that the automaker’s plans to create a separate division for its electric (EV) assets could eventually lead to a separate listing. “This could mean a separate listing. This is a conditional, this is precisely what we are reviewing,” De Meo told…
By Tim Hepher (Reuters) – Airbus urged Europe on Tuesday not to block imports of titanium from Russia, saying sanctions on the strategic metal would damage aerospace while barely hurting Russia’s economy. Widening the action taken after Russia’s invasion of Ukraine to titanium, used in airplanes and jet engines, would “not be appropriate,” Chief Executive…
(Reuters) – Ferrero said on Tuesday it was voluntarily recalling some of its Kinder chocolates in the United States, saying the products may be contaminated with Salmonella Typhimurium. There are no reports of illness in the United States to date from the chocolates, Ferrero added. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)
By Lindsay Dunsmuir and Ann Saphir (Reuters) -Federal Reserve Governor Lael Brainard on Tuesday said the U.S. central bank could start to trim its balance sheet in June, which along with a series of interest rate hikes will help bring down 40-year-high inflation. “In terms of exactly what the right pace of that set of…
By Mimosa Spencer PARIS (Reuters) -Strong demand for Louis Vuitton and Dior products helped lift first quarter sales at the world’s largest luxury goods conglomerate LVMH, showing the sector’s resilience despite geopolitical tensions and volatile stock markets. LVMH, which owns brands spanning Hennessy cognac and Sephora, said like-for-like sales, which strip out the effect of…
By Katanga Johnson WASHINGTON (Reuters) – World stocks edged higher after a wobbly start on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations. The U.S. consumer price index rose 1.2% last month, the biggest increase in 16-1/2 years and cementing the case for a…
By David Lawder WASHINGTON (Reuters) – The COVID-19 pandemic wreaked havoc on global supply chains but new International Monetary Fund research shows that more diversification of source countries and inputs can significantly reduce the economic drag from supply disruptions. In an analytical chapter of its forthcoming World Economic Outlook, IMF researchers said that countries experienced…
