EU summit unlikely to find solution on Russia oil embargo, von der Leyen says
DAVOS, Switzerland (Reuters) – European Union leaders are unlikely to strike a deal on an oil embargo against Russia at their summit on Monday and Tuesday, head of the blocs executive Ursula von der Leyen said.
NY Fed sees balance sheet falling $2.5 trln by mid-2025, when run-off stops
WASHINGTON (Reuters) – The Fed‘s holdings of Treasury bonds and mortgage backed securities is projected to decline by roughly $2.5 trillion by mid-2025 to roughly $5.9 trillion, when the central bank’s run-off of assets is likely to be halted to maintain an adequate level of bank
Peru communities protesting MMGs Las Bambas mine to meet President Castillo
By Marco Aquino LIMA (Reuters) – A group of Peruvian indigenous communities that have been protesting MMG Ltds huge Las Bambas copper mine will meet with President Pedro Castillo on Tuesday in Lima in a new bid to defuse the crisis, a community leader told Reuters.
U.S. new home sales hit two-year low; prices surge
By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes tumbled to a two-year low in April likely as higher mortgage rates and soaring prices squeezed first-time buyers and those in search of entry-level properties out of the housing market.
Explainer-Ukraine looks for ways to get its grain out
By Pavel Polityuk and Silvia Aloisi KYIV (Reuters) – Ukraine is seeking ways to get grain and vegetable oils out of the country by breaking a months-long blockade of the Sea of Azov and the Black Sea by the Russian navy and moving more by land.
Exclusive-Sri Lankas prime minister says will slash expenditure in new budget
COLOMBO (Reuters) – Sri Lankas new Prime Minister Ranil Wickremesinghe said on Tuesday he will present an interim budget within six weeks, slashing down on infrastructure projects and re-routing funds into a two-year relief programme for the crisis-hit island nation.
Saudi Arabia finalising extension of $3 billion deposit to Pakistan -Finance Minister
By Dmitry Zhdannikov DAVOS (Reuters) – Saudi Arabia is finalising the extension of the kingdoms $3 billion deposit to Pakistan, Saudi Minister of Finance Mohammed al-Jadaan told Reuters.
Hungarys Orban says EU summit should not discuss oil sanctions next week
BUDAPEST (Reuters) – The EU‘s proposed new sanctions including an oil embargo against Russia should not be discussed at next week’s summit of EU leaders, Hungarian Prime Minister Viktor Orban wrote to the President of the European Council in a letter.
EU watchdog calls for ‘workable balance’ in derivatives Brexit battle
By Huw Jones LONDON (Reuters) – Relocating clearing of euro derivatives from London must find a “workable balance” that avoids business going to the United States or elsewhere rather than the European Union, the blocs securities watchdog said on Tuesday.
U.S. births rise for the first time in seven years in 2021
(Reuters) – The number of births in the United States grew 1% in 2021 from a pandemic-related low in 2020, marking the first increase since 2014, according to a report by the U.S. Centers for Disease Control and Prevention (CDC).
Saudi foreign minister does not expect immediate global oil shortage
DAVOS, Switzerland (Reuters) – Saudi Arabia does not expect an immediate shortage of oil and only a certain shortage of oil products, the countrys foreign minister Prince Faisal bin Farhan Al Saud said on Tuesday when asked why Riyadh has rebuffed U.S. calls to raise production.
EU calls for Russia dialogue to unlock Ukraine food exports
By Sabine Siebold DAVOS, Switzerland (Reuters) – European Commission chief Ursula von der Leyen on Tuesday called for talks with Moscow on unlocking wheat exports that are trapped in Ukraine as a result of a Russian sea blockade.
Tesla loses bid to move sexual harassment lawsuit to arbitration
By Daniel Wiessner (Reuters) – A California state judge has rejected Tesla Inc‘s bid to send a lawsuit alleging widespread sexual harassment at the company’s flagship assembly plant to private arbitration, allowing it to move forward in court.
U.S. bank profits dip as loan loss provisions jump in response to global uncertainty – FDIC
By Pete Schroeder WASHINGTON (Reuters) – U.S. bank profits dropped 6.5% in the first quarter of 2022 to $59.7 billion, as larger firms grew their loan loss provisions in response to heightened economic and geopolitical uncertainty, the Federal Deposit Insurance Corporation reported Tuesday.
Iraqi Kurdish leader says rejects federal court oil and gas ruling
DUBAI (Reuters) – Iraqi Kurdish Prime Minister Masrour Barzani said on Tuesday that the semi-autonomous region rejected a federal court ruling on its oil and gas activities as “political” and not constitutional.
Exclusive-EU set to clear without conditions $28.3 billion Oracle, Cerner deal – sources
BRUSSELS (Reuters) – EU antitrust regulators are set to approve without conditions U.S. business software maker Oracle Corps $28.3 billion acquisition of U.S. healthcare IT company Cerner Corp, people familiar with the matter said on Tuesday.
Workers at French window maker trade perks for pay hike to beat inflation
By Caroline Pailliez OTTMARSHEIM, France (Reuters) – When its employees started leaving in droves for better-paying jobs across the border in Switzerland, family-run French window maker Fligitter knew it needed to do something to retain staff.
Agnellis Exor appoints Hermes CEO as board member in latest luxury push
MILAN (Reuters) – Italy‘s Exor has appointed Hermes CEO Axel Dumas as a non-executive board member, the Agnelli family’s holding company said on Tuesday, in a move marking its latest step in the luxury space.
EU proposes to make seizing assets easier, including of sanctioned oligarchs -document
By Francesco Guarascio and Jan Strupczewski
U.S. business activity slows in May, survey shows
WASHINGTON (Reuters) – U.S. business activity slowed moderately in May as higher prices cooled demand for services while renewed supply constraints because of COVID-19 lockdowns in China and the ongoing conflict in Ukraine hampered production at factories.
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