Fed has ‘important but quite limited’ authority to police climate change risk, says nominee Barr
WASHINGTON (Reuters) – The Federal Reserve has “important but quite limited” authorities to police financial risks emanating from climate change, according to Michael Barr, President Biden‘s nominee to lead to the central bank’s regulatory work.
Ukraines PM and G7 finance ministers discuss steps to recover from war
KYIV (Reuters) – Ukrainian Prime Minister Denys Shmyhal said on Thursday he and the finance ministers of the Group of Seven rich nations had discussed “practical steps” to help Ukraine recover from the war with Russia.
Germany pledges 1 billion euros in grants to help Ukraine – Finance Minister
KOENIGSWINTER, Germany (Reuters) – German Finance Minister Christian Lindner said he pledged 1 billion euros ($1.06 billion) in grants to Ukraine at a meeting of finance officials from the Group of Seven (G7) economic powers on Thursday to help it with short-term liquidity needs.
EU ambassador to UK says bloc wont change mandate in Brexit talks
LONDON (Reuters) – The European Union will not give a new mandate to renegotiate post-Brexit trade rules for Northern Ireland agreed as part of the Brexit deal, the blocs ambassador to London said on Thursday.
UK backs more funding for Ukraine power, urges G7 to implement tax deal
LONDON (Reuters) – Britain will guarantee a further $50 million in financing to help Ukraines electricity provision, British finance minister Rishi Sunak said on Thursday as he met his peers from the Group of Seven rich economies in Germany.
Pakistan bans imports of all non-essential luxury goods – minister
KARACHI, Pakistan (Reuters) – Pakistan has banned the import of all non-essential luxury goods in a bid to stabilize the economy, the information minister said on Thursday, describing the situation as an economic emergency.
Polestar cuts 2022 delivery forecast amid China lockdown
(Reuters) – Swedish electric-vehicle maker Polestar cut its 2022 delivery forecast by 15,000 units to 50,000 vehicles on Thursday, hit by COVID-19 lockdowns in China.
Frances Macron: wants quick EU opinion on Moldova request for membership
PARIS (Reuters) – French President Emmanuel Macron said he wanted the European Union (EU) to give a “quick opinion” to Moldovas request for membership of the EU, as he hosted a meeting with Moldovan President Maia Sandu in Paris.
EU Commission to propose keeping fiscal rules suspended in 2023-officials
BRUSSELS (Reuters) – The European Commission is likely to propose on Monday keeping EU curbs on government borrowing suspended in 2023 amid great economic uncertainty and a sharp slowdown in growth caused by Russias invasion of Ukraine, officials said.
U.S. existing home sales fall for third straight month; house prices at record high
WASHINGTON (Reuters) – U.S. existing home sales dropped to the lowest level in nearly two years in April as house prices jumped to a record high amid a persistent lack of inventory.
New French PM Borne says no rush to form new government
PARIS (Reuters) – French Prime Minister Elisabeth Borne, making her first public appearance since being appointed to the role on Monday, said there was no hurry to form a new government.
Rwanda expects first 50 asylum seekers transferred from UK by end of May
By Clement Uwiringiyimana KIGALI (Reuters) – Rwanda expects the first group of 50 asylum seekers to be transferred from the United Kingdom by the end of May, a government spokesperson said on Thursday.
German insurance industry cuts outlook in wake of war
FRANKFURT (Reuters) – The German Insurance Association (GDV) has downgraded its forecast for the industry for 2022 in the wake of the war in Ukraine.
Number of people illegally in EU grew 22% in 2021 – Eurostat
(Reuters) – The number of people found to be illegally present in the European Union increased by 22% to reach nearly 700,000 in 2021, according to European statistics office data released on Thursday.
Mid-Atlantic factory activity at 2-year low, Philadelphia Fed says
(Reuters) – Factory output growth in the U.S. Mid-Atlantic region decelerated far more than expected in May, and the business outlook for the next six months is the weakest in more than 13 years, a regional Federal Reserve bank survey showed Thursday.
Poland‘s PGNiG says won’t use Baltic Pipe fully as gas demand set to ease
By Marek Strzelecki WARSAW (Reuters) – Polish gas company PGNiG sees no need to use all the capacity it booked in a new pipeline from Norway as soaring energy prices are likely to curb demand.
Harley-Davidson to suspend most vehicle assembly, shipments for two weeks
(Reuters) -Harley-Davidson Inc said on Thursday the bike maker will suspend all vehicle assembly and shipments, excluding those from its electric vehicle division LiveWire, for a two-week period.
Canada‘s Globalive ties up with Telus for Shaw’s wireless business
(Reuters) – Canadian investment firm Globalive Capital Inc said on Thursday it has partnered with telecoms company Telus Corp to bid for Shaw Communications Incs wireless business, Freedom Mobile.
GFG Alliance says Belgian court overturns ruling on steel plant
LONDON (Reuters) – A Belgian court on Thursday ruled in favour of the GFG Alliance owned by commodities tycoon Sanjeev Gupta regarding its Liege steel operations, GFG said in a statement.
Cisco falls on dismal outlook as supply shortage bites
(Reuters) – Cisco Systems Inc shares were down 10% premarket on Thursday after the company warned of persisting shortages in components, triggering price target cuts from at least nine brokerages as Wall Street braces for further impact on technology exports due to Chinas COVID restrictions.
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