BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Wednesday he expects the basic interest rate to fall to “at least” 12% by year-end, emphasizing ample scope for monetary easing. The central bank has maintained its benchmark interest rate at a cycle-high of 13.75% since September 2022, but it has signaled that most of…
By Valerie Insinna and David Shepardson (Reuters) – Boeing’s first delivery of the 737 MAX 7 has been delayed to 2024, the company said in an SEC filing on Wednesday. Boeing still expects the Federal Aviation Administration to certify the MAX 7 and begin FAA certification flight testing for the MAX 10 in 2023, the…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell said Wednesday at a press conference it’s possible the central bank will follow its latest rate rise with another one at the policy meeting scheduled for September. “It is certainly possible we would raise the funds rate at the September meeting if…
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices fell about 1% on Wednesday, after data showed U.S. crude inventories fell less than expected and the Federal Reserve raised interest rates by a quarter of a percentage point. Brent crude futures closed down 72 cents, or 0.9%, at $82.92 a barrel, while U.S. West Texas Intermediate…
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada discussed delaying a hike to its key overnight rate at the last meeting before deciding on a raise to ensure progress in dampening inflation did not stall, according to minutes published on Wednesday. The bank announced a 25 basis point increase in rates…
By Gabriella Borter and Sharon Bernstein (Reuters) – State legislatures are wrestling with how much to restrict or expand abortion access after the U.S. Supreme Court overturned Roe v. Wade last year. Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023. RESTRICTIONS FLORIDA: Governor Ron DeSantis in…
NEW YORK (Reuters) – Federal prosecutors in New York on Wednesday asked a judge to order Sam Bankman-Fried to be jailed ahead of his scheduled October trial over the collapse of his FTX cryptocurrency exchange. At a hearing in Manhattan federal court, prosecutor Danielle Sassoon said “no set of release conditions can ensure the safety…
BRUSSELS (Reuters) -NATO said on Wednesday it was stepping up surveillance of the Black Sea region as it condemned Russia’s exit from a deal assuring the safe passage of ships carrying Ukrainian grain. The announcement came after a meeting of the NATO-Ukraine Council, a body established earlier this month to coordinate cooperation between the Western…
By Jack Queen WILMINGTON, Delaware (Reuters) -U.S. President Joe Biden’s son Hunter Biden’s proposed deal with prosecutors to plead guilty to tax charges and avoid a gun charge hit a snag on Wednesday when the judge in the case said she needed more time to review their agreement. The news means that the younger Biden’s…
By Julia Harte (Reuters) – Democratic U.S. lawmakers said on Wednesday they were reintroducing a bill to ban higher education institutions that receive federal funds, as do virtually all U.S. colleges and universities, from favoring applicants with ties to donors and alumni. The announcement came on the heels of the U.S. Education Department launching a…
