NEW YORK (Reuters) - U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut.
U.S. retail sales, on the other hand, were flat month-on-month in April, compared with expectations for a 0.4% increase.
MARKET REACTION:
STOCKS: U.S. stock index futures gained... (continue reading...)
DUBLIN (Reuters) - Ireland will recognise a Palestinian state before the end of this month if not on May 21 as first thought, Irish Foreign Minster Micheal Martin said on Wednesday.
European Union members including Ireland, Spain, Slovenia and Malta, had planned to make the recognition next week, arguing that a two-state solution is essential for lasting peace in the region.
"We will be recognising the state of Palestine before the end of... (continue reading...)
BRASILIA (Reuters) - Brazil's central bank chief Roberto Campos Neto said on Wednesday that the monetary authority is committed to pursuing its 3% inflation target, and that its policy discussions should "not even mention" the center and band of that goal.
Speaking at an event hosted by the central bank, he stressed that the authority "will not shy away from its commitment to achieving the inflation target and understands the fundamental role of... (continue reading...)
KYIV (Reuters) - U.S. Secretary of State Antony Blinken took to the stage with a Ukrainian band at a bar late on Tuesday during a surprise trip to Kyiv, drawing applause from the audience but some criticism online from people who felt the performance was "tone-deaf".
The mixed reaction reflected Ukrainians' recognition of the key role U.S. support plays in the war against Russia as well as growing concern among civilians over mounting battlefield... (continue reading...)
(Reuters) - Morgan Stanley has struck a deal with an investor group to buy $700 million of property loans tied to the failed Signature Bank, Bloomberg News reported on Wednesday citing people familiar with the matter.
The loans were held by a cohort including asset management giant Blackstone, Canada Pension Plan Investment Board (CPPIB) and investment manager Rialto Capital.
The group owns a 20% stake in a venture that holds Signature... (continue reading...)
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