Reuters

(Reuters) - The number of Americans filing new claims for unemployment benefits increased last week, but underlying strength in the labor market should continue to support the economy.

Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 229,000 for the week ended June 1, the Labor Department said on Thursday. Economists polled by Reuters had forecast 220,000 claims in the latest week.

The labor market has... (continue reading...)

(Reuters) -The European Central Bank cut rates for the first time in five years on Thursday, but kept investors in the dark about its next move, given increasing uncertainty over inflation after a sharp slowdown in the past year.

It lowered its record-high deposit rate by 25 basis points to 3.75%, but raised its inflation forecast for this year and the next.

The ECB stressed any further rate reduction would depend on incoming data and... (continue reading...)

OTTAWA (Reuters) - Canada posted a smaller than expected merchandise trade deficit of C$1.05 billion ($765 million) in April, as energy and gold helped exports grow faster than imports, data showed on Thursday.

Analysts polled by Reuters had forecast a C$1.40 billion deficit in the month. March's trade balance was downwardly revised to C$1.99 billion from a C$2.28 billion deficit reported initially.

Total exports rose 2.6% in April, while... (continue reading...)

FRANKFURT (Reuters) - The European Central Bank raised some of its economic growth and inflation projections on Thursday, predicting a somewhat later return of price growth to its 2% target.

Having tamed runaway inflation with a record string of rate hikes, the ECB cut interest rates for the first time since 2019 on Thursday, with further easing expected as the economy normalizes from a series of shocks related to the pandemic and Russia's war in... (continue reading...)

SAO PAULO (Reuters) - Brazilian restaurant chain operator Zamp has agreed to buy the rights to operate the Starbucks brand in the South American country, as well as some stores, for 120 million reais ($22.7 million), it said on Thursday.

In a securities filing, Zamp said that the deal was signed with SouthRock, the company that currently owns these rights and assets in Brazil and has been in bankruptcy protection since last year.

Zamp,... (continue reading...)