Spanish hotel rates surge 36% as tourism takes off in April
MADRID (Reuters) – Hotels in Spain increased their rates by 36% in April from a year ago, charging 96.3 euros ($103.4) per night on average around the Easter holidays that marked a long-awaited rebound of tourism after the COVID-19 pandemic, official data showed.
As Fed amps up inflation fight, one policymaker urges caution
(Reuters) – With the Federal Reserve amping up its fight against 40-year high inflation, one U.S. central banker this week urged caution so as to avoid triggering “significant economic dislocation” with interest-rate hikes that were too sharp.
France sanguine differences over EU ban on Russian oil will be resolved
BERLIN (Reuters) -Frances new foreign minister said on Tuesday she was optimistic that those still opposed to a new European Union sanctions package that would phase out Russian oil imports to the bloc could be convinced and that the bloc would reach a deal.
Tata Steel says India export tax could alter output targets
By Aditya Kalra DAVOS, Switzerland (Reuters) – India‘s Tata Steel is concerned New Delhi’s sudden decision to impose an export tax on some steel products could force it to review its production targets, if the levy remains in place for a long time, its CEO told
Air Liquide opens liquid hydrogen facility in Nevada
(Reuters) – French industrial gas company Air Liquide on Tuesday said it has opened its largest liquid hydrogen production and logistics facility in North Las Vegas, Nevada, to supply growing needs for hydrogen-fueled vehicles.
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.
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.
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.
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.