By Jan Lopatka PRAGUE (Reuters) -The Czech central bank will begin debating lowering interest rates as soon as this autumn as it expects inflation to drop sharply particularly at the beginning of next year, Vice-Governor Jan Frait said on Tuesday. With inflation on a downward path across central Europe, markets are betting on who may…
By Jonathan Stempel NEW YORK (Reuters) -The U.S. Virgin Islands unveiled new accusations against JPMorgan Chase over the bank’s ties to former client Jeffrey Epstein, including executives discussing how the disgraced late financier surrounded himself with “nymphettes.” JPMorgan was also accused of working with Epstein for years after firing him as a client in 2013,…
By Rajesh Kumar Singh and Abhijith Ganapavaram (Reuters) -General Electric Co on Tuesday raised its full-year profit outlook after quarterly earnings topped Wall Street estimates on robust demand for jet engine spare parts and services from airlines looking to cash in on surging air travel. The company’s shares were up about 6% at $116.44 in…
By Lucinda Elliott, Anna-Catherine Brigida and Rodrigo Campos BUENOS AIRES (Reuters) – Argentina’s last-ditch effort to secure International Monetary Fund cash with measures that will weaken the peso risks pushing triple-digit inflation even higher and angering voters just three months before national elections. Economists said steps unveiled on Monday by Economy Minister Sergio Massa, himself…
By David Lawder WASHINGTON (Reuters) – The International Monetary Fund said on Tuesday it is now projecting Argentina’s economy will contract 2.5% in 2023, with a year-end inflation rate of about 120%, largely due to a crippling drought that has curtailed agricultural production. “Argentina is facing a very difficult situation particularly that’s made worse by…
By Karl Plume CHICAGO (Reuters) -Archer-Daniels-Midland beat Wall Street expectations for second-quarter profit on Tuesday and raised its 2023 earnings outlook, as the grains merchant benefited from a record Brazilian harvest and robust global demand. Results, however, were below ADM’s record second quarter a year ago due to headwinds from lower oilseed processing margins and…
By Fergal Smith TORONTO (Reuters) – The Bank of Canada’s most favored measures of core inflation are likely to slow in July for the first time in 10 months as base effects work in their favor, a milestone that could sway the bank to leave rates on hold at its next policy decision. In tracking…
(Edits syntax in paragraph 2) By Valentina Za and Giuseppe Fonte MILAN (Reuters) -Italian bank UniCredit is set to report sharply higher revenue on Wednesday from a year ago as it continues to benefit from higher interest rates – but its exposure to Russia is drawing increased regulatory scrutiny. The European Central Bank (ECB), which…
PARIS (Reuters) – KLM, Delta, United and scores of carriers have filed an appeal at the Dutch Supreme Court to overturn a move by the Dutch government to curb traffic at Amsterdam’s Schiphol Airport, the Dutch airline said on Tuesday. The legal action announced by the airlines is an attempt to overturn a July 7…
By Jonathan Stempel NEW YORK (Reuters) – Elon Musk plans to ask the U.S. Supreme Court to consider whether the Securities and Exchange Commission overstepped its authority in enforcing a consent decree that he has called a “muzzle” on his free speech. Musk would be appealing a decision by the 2nd U.S. Circuit of Appeals…
