U.S. House to set minimum annual pay for staff at $45,000, Pelosi says
By Kanishka Singh WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said the House will set a mininum annual pay for its staff at $45,000, months after a non-profit report found that over 12% of congressional staffers did not have a living wage.
Global bond funds post massive outflows in the week to May 4
(Reuters) – Global bond funds faced big outflows in the week to May 4 as soaring inflationary pressure fueled caution ahead of the Federal Reserves policy decision this week.
Enbridge first-qtr profit rises on higher shipment volumes
(Reuters) – Canada‘s Enbridge Inc reported a 4.34% rise in first-quarter profit on Friday, as a surge in demand for oil and gas boosted the pipeline operator’s shipment volumes.
Malaysia end-April palm oil stockpile seen up after five months of falls
By Mei Mei Chu KUALA LUMPUR (Reuters) – Malaysias palm oil inventories at the end of April likely rose for the first time in six months as production and imports climbed, a Reuters survey showed on Friday.
Economy worries drag FTSE 100 lower, British Airways owner slides
(Reuters) – UKs blue-chip index slipped on Friday, with British Airways owner falling the most after disappointing earnings, while worries about the economy weighed on the mood after a recession warning from the Bank of England.
Sterling falls to lowest since June 2020 versus dollar
(Reuters) – Sterling fell below $1.23 for the first time in nearly two years against a strengthening dollar on Friday, after a plunge in the previous session as the Bank of England warned about recession risks, dampening expectations about future monetary tightening.
Shares in EUROAPI, spun-off from Sanofi, rise on stock market debut
PARIS (Reuters) – Shares in EUROAPI, the drug ingredients business being spun-off by Sanofi, rose on Friday as the company made its debut on the Paris stock market.
Sorrells S4 sees good 2022 after publishing delayed results
LONDON (Reuters) – Martin Sorrells S4 Capital said it expected to enjoy a good year in 2022 despite the deteriorating global economic outlook, as it published its 2021 results that were delayed by an audit hold up.
UK annual house price rise eases to 10.8% – Halifax
LONDON (Reuters) – British house prices rose for a tenth consecutive month in April, although the annual rate of growth eased slightly from the 15-year high recorded in March, figures from mortgage lender Halifax showed on Friday.
British Airways-owner IAG says business travel recovering
LONDON (Reuters) – British Airways-owner IAG said on Friday it had seen a strong recovery in business travel in the first quarter and it expected to be profitable from the second quarter onwards and for the full year.
Russian services sector contracts in April as sanctions weigh – PMI
(Reuters) – Russias service sector activity shrank in April for the second month in a row, hurt by weak client demand and a drop in new orders as sanctions dented customer purchasing power, a business survey showed on Friday.
Analysis: Banks face reversal of fortune from war and ‘great depression’
By Sinead Cruise and John ODonnell LONDON/BERLIN (Reuters) – Global banks are taking steps to weather the wider impact of war and runaway inflation as the stream of central bank money that kept them afloat for more than a decade is switched off.
ECB must quickly raise key rates, says head of Germanys Ifo institute
BERLIN (Reuters) – The European Central Bank must quickly raise interest rates in line with the United States, given high inflation in the euro zone, the head of Germanys Ifo institute told the Augsburger Allgemeine newspaper.
Payback time, Italy seeks to lessen COVID loan burden
By Valentina Za, Giuseppe Fonte and Francesco Zecchini
Malaysia aims to regain palm oil market share in EU amid global shortage
KUALA LUMPUR (Reuters) – Malaysia, the worlds second largest palm oil producer, on Friday said it plans to leverage the global edible oil shortage and “political tension in Europe” to regain market share after buyers shunned the commodity over environmental concerns.
Analysis: Buckle up, say traders as Wall Streets wild ride shows no sign of end
By Saqib Iqbal Ahmed NEW YORK (Reuters) – A massive two-day swing in U.S. stocks highlights a trend that some market participants believe will be a hallmark for months to come: intense volatility.
U.S. unemployment rate expected to fall to 3.5% in April, job gains to slow
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. unemployment rate likely dropped to its pre-pandemic low of 3.5% in April, while job growth moderated to a still brisk pace amid widespread worker shortages, underscoring the challenge the Federal Reserve faces to curb high inflation.
Dollar set for fifth winning week on hawkish Fed as payrolls loom
By Kevin Buckland TOKYO (Reuters) – The dollar was headed for a fifth winning week versus major peers on Friday, ahead of closely watched U.S. jobs report thats likely to back the case for aggressive monetary policy tightening.
Australias central bank drastically raises inflation forecasts, flags more rate hikes
SYDNEY (Reuters) – Australia‘s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control.
Oil falls as demand concerns weigh against tight supply
By Laura Sanicola (Reuters) – Oil prices dipped at the start of Asian trade on Friday as worries about an economic downturn that could dampen demand for crude vied with concerns over new sanctions from the European Union against Russia, including an embargo on crude oil.