WASHINGTON (Reuters) – The Federal Reserve may still need to raise its benchmark interest rate by another half-point this year, St. Louis Fed President James Bullard said, suggesting that any decision to pause on any increase at the upcoming June meeting won’t mark a full stop to the Fed’s tightening cycle. “The risk with inflation…
By Yukiko Toyoda and David Dolan TOKYO (Reuters) -The leaders of the Group of Seven (G7) rich democracies this weekend pledged to “de-risk” without “decoupling” from China, an approach that reflected European and Japanese concerns about pushing Beijing too hard, officials and experts said. U.S. President Joe Biden and other G7 leaders wrapped up a…
(Reuters) – Micron Technology Inc expects China’s ban on company’s infrastructure chips to impact revenue in the low-single to high-single digit percentage, the company said on Monday at a J.P. Morgan conference call. “We estimate that the combined direct sales and indirect sales through distributors to China headquartered companies is about 1/4 of our total…
By Laura Matthews NEW YORK (Reuters) – BNY Mellon is expanding its offering of short-term investment products as investors chase higher yields, the bank announced on Monday. The bank is now offering access to mutual funds, interest-bearing deposits and sponsored cleared repurchase agreement sweep products through its LiquidityDirect platform, a portal for institutional investors. The…
BERLIN (Reuters) -Foreign investment in Germany was stable in 2022, data from Germany Trade & Invest (GTAI), showed on Monday, although the body’s head said it could be a challenge to retain investment from the biggest spender the United States. Last year, Germany attracted 1,783 new projects and expansions, 23 fewer than in 2021, but…
By Hyonhee Shin SEOUL (Reuters) – South Korea and the European Union agreed on Monday to step up cooperation on security amid tension over Russia’s invasion of Ukraine and North Korean nuclear threats. South Korean President Yoon Suk Yeol held a summit in Seoul with European Commission President Ursula von der Leyen and European Council…
By David Morgan, Jeff Mason and Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday, after the two leaders held a phone call on Sunday as the president flew back to Washington that both sides described as positive. McCarthy, speaking to…
By Samrhitha A and Vansh Agarwal (Reuters) – Top U.S. cybersecurity companies are expected to report another quarter of strong growth as high-profile hacks and a shift in client preference for bigger players with better integrated offerings help support their businesses in a turbulent economy. Palo Alto Networks, the largest player in the space by…
A look at the day ahead in U.S. and global markets from Mike Dolan. Well-choreographed brinkmanship over the debt ceiling standoff looks set to go down to the wire, while technology firms have once again become a battleground in tense geopolitics. Despite growing optimism last week about some bipartisan deal on lifting the U.S. debt…
DUBLIN (Reuters) – Meta was hit on Monday with a record 1.2 billion euro ($1.3 billion) fine by its lead privacy regulator in the European Union for its handling of user information and given five months to stop transferring users’ data to the United States. The fine imposed by Ireland’s Data Protection Commissioner (DPC) concerned…
