By David Lawder and Andrea Shalal WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that the global economy has proven remarkably resilient to multiple shocks, but has yet to overcome a combination of weak growth and sticky inflation. The IMF’s projection of 2.8% global growth for 2023 “is not enough to…
WASHINGTON (Reuters) – The Biden administration is unveiling on Thursday nearly $300 million in funding from its signature infrastructure law for nine bridge projects across the country, officials said. The infrastructure law, which the U.S. Congress passed with support from Democrats and Republicans, is one of President Joe Biden’s key legislative accomplishments and one his…
WASHINGTON (Reuters) -The Biden administration is seeking to allow immigrants illegally brought to the United States as children greater access to health insurance through federal programs, the White House said on Thursday. The proposal would allow participants in the Deferred Action for Childhood Arrivals program, or DACA, to access to health insurance under Medicaid and…
By Mimosa Spencer PARIS (Reuters) – Luxury shoppers in the United States are curtailing purchases of high-end fashion and leather goods, LVMH’s first-quarter sales report showed, adding to evidence that a strong, months-long, post-pandemic splurge may be ending. Shares in Europe’s most valuable listed company rose nearly 5% to record highs in early trade on…
WASHINGTON (Reuters) – Core inflation rates in the euro zone will begin improving in the coming months, but the European Central Bank still has a way to go with monetary policy, ECB policymaker Joachim Nagel said on Thursday. “We expect core inflation will show first movements in the right direction before the summer break,” the…
By Simon Jessop LONDON (Reuters) -Britain’s biggest asset manager, Legal & General Investment Management (LGIM), said on Thursday it would back a number of climate-focused shareholder resolutions at the annual meetings of eight leading U.S. and Canadian banks. LGIM, insurer Legal & General’s fund arm, which manages around $1.5 trillion, said it was going public…
By Chris Taylor NEW YORK (Reuters) – Face it, we could all use a little help with our money. So who better to ask for personal finance advice than a couple of the most powerful chatbots on the planet? Both OpenAI’s ChatGPT and Google’s Bard are dominating headlines recently, for their generative capabilities and vast…
WASHINGTON (Reuters) – U.S. producer prices unexpectedly fell in March as the cost of gasoline declined, and there were signs that underlying producer inflation was subsiding. The producer price index for final demand dropped 0.5% last month, the Labor Department said on Thursday. Data for February was revised to show the PPI unchanged instead of…
WASHINGTON (Reuters) – Half of U.S. Republicans think a federal court was motivated by politics when it ordered the suspension of government approval for a widely used abortion pill, a Reuters/Ipsos poll completed on Wednesday found. Fifty-one percent of self-identified Republicans in the poll said they agreed that the ruling last week – which would…
By Lawrence Delevingne (Reuters) – As First Republic Bank’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in…
