By Huw Jones LONDON (Reuters) -The European Union’s 19 trillion euro ($21.6 trillion)investment funds industry is failing to exploit the bloc’s single market, saddling investors with high costs and opaque selling practices, the European Court of Auditors said in a critical report on Monday. A full review of EU investment fund rules is needed by…
By Howard Schneider (Reuters) – The U.S. Federal Reserve’s plan to end the loose money policies used to fight the pandemic is facing an unexpectedly early test as the Russian invasion of Ukraine poses new economic and financial risks already being felt in global markets. Fed Chair Jerome Powell testifies before Congress on Wednesday and…
(Reuters) -Russia’s Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp (IOC), the country’s top refiner, two traders familiar with the matter told Reuters on Friday. State-owned Rosneft allocated seven 100,000-tonne cargoes loading between May 15 and 31 to IOC, according to the…
By Ellen Zhang and Ryan Woo BEIJING (Reuters) -China’s manufacturing activity unexpectedly shrank in April, official data showed on Sunday, raising pressure on policymakers seeking to boost an economy struggling for a post-COVID lift-off amid subdued global demand and persistent property weakness. The official manufacturing purchasing managers’ index (PMI) declined to 49.2 from 51.9 in…
DALLAS (AP) — A ruling by a federal judge has ended — at least for now — the requirement that people wear masks on planes and public transportation, and there is plenty of confusion about the new, post-mask world of travel. The Justice Department left the door open Tuesday to a possible appeal of the…
By Gopal Sharma KATHMANDU (Reuters) – A Nepali sherpa guide climbed Mount Everest for the 26th time on Sunday, hiking officials said, becoming the world’s second person to achieve the feat. Pasang Dawa Sherpa, 46, stood atop the 8,849-m (29,032-ft) peak, sharing the record number of summits with Kami Rita Sherpa, said Bigyan Koirala, a…
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday called for quicker action to resolve several outstanding sovereign debt restructuring cases and urged the International Monetary Fund to press all bilateral creditors to finalize such deals. The Treasury said Yellen raised the issue during meetings with IMF Managing Director Kristalina Georgieva and Spanish Economy Minister…
A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve. The indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P…
By Holger Hansen and Maria Martinez BERLIN (Reuters) -German Finance Minister Christian Lindner is planning 16.6 billion euros ($18.1 billion) of net new debt for the 2024 federal budget, which includes record spending on defence, finance ministry sources said on Monday. The financial plan to 2027 shows new borrowing falling to 15.0 billion euros by…
By Lucia Mutikani WASHINGTON (Reuters) -The U.S. trade deficit in goods widened to a record high in December amid a continued rise in imports, suggesting that trade likely remained a drag on economic growth in the fourth quarter. But the report from the Commerce Department on Wednesday also showed an acceleration in the pace of…
