By Leika Kihara
STRESA, Italy (Reuters) - Bank of Japan Governor Kazuo Ueda said on Thursday the economy was on track for a moderate recovery, suggesting a slump in first-quarter gross domestic product (GDP) alone would not keep the central bank from raising interest rates in coming months.
But Ueda said the outlook for the U.S. economy was among key risks to growth that will likely be discussed at a meeting of finance ministers and... (continue reading...)
NEW YORK (Reuters) - Morgan Stanley's executive chairman James Gorman will step down on Dec. 31, he told the bank's annual shareholder meeting.
The former CEO cited the "successful transition" of his successor Ted Pick into the top job.
(Reporting by Nupur Anand in New York and Manya Saini in Bengaluru)
BEIJING (Reuters) - China will deepen reforms to tackle institutional obstacles to economic modernisation, President Xi Jinping was quoted by state media as saying on Thursday, ahead of a closely watched meeting on reforms.
The ruling Communist Party's central committee will gather in July for a key meeting known as a plenum, the third since the body of elite decision makers was elected in 2022, focusing on reforms amid "challenges" at home and... (continue reading...)
PRISTINA (Reuters) -Kosovo's parliament on Thursday approved a deal to rent 300 jail cells to Denmark to help the Scandinavian country cope with overcrowded prisons.
The cells, which will be in a rebuilt prison, are intended to hold convicted criminals from non-European Union countries who were due to be deported from Denmark after their sentences.
When the deal was first announced in 2021, it prompted concerns over the treatment of prisoners... (continue reading...)
(Reuters) - New vehicle sales in the United States are projected to rise in May from a year earlier, helped by demand for crossover SUVs and pickup trucks, according to a joint report by industry consultants J.D. Power and GlobalData on Thursday.
WHY IT IS IMPORTANT
Automakers in the United States have been shifting their focus back on higher-margin hybrids and gasoline-powered models as choppy demand for electric vehicles prompted them... (continue reading...)
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