Reuters

(Reuters) - U.S. truckmaker PACCAR Inc beat first-quarter profit estimates on Tuesday, on the back of robust demand from its trucks and parts segments, benefiting an uptick in infrastructure spend.

PACCAR, which builds Kenworth, Peterbilt and DAF trucks, expects industry retail sales in the U.S. and Canada for its Class 8 trucks, to be between 250,000 and 290,000 in 2024.

"North American truck demand is benefiting from increased... (continue reading...)

WASHINGTON (Reuters) - U.S. labor costs increased more than expected in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year.

The Employment Cost Index (ECI), the broadest measure of labor costs, increased 1.2% last quarter after rising by an unrevised 0.9% in the fourth quarter, the Labor Department's Bureau of Labor Statistics said on Tuesday.

Economists polled by Reuters had... (continue reading...)

OTTAWA (Reuters) - Canada's gross domestic product increased by 0.2% in February, less than market expectations, and the economy likely expanded at a 2.5% annualized rate in the first quarter, data showed on Tuesday.

Analysts polled by Reuters had forecast a 0.3% GDP growth in the month. January's growth was downwardly revised to 0.5% from 0.6% reported initially.

In a preliminary estimate for March, Statistics Canada said GDP was likely... (continue reading...)

By Yoruk Bahceli

(Reuters) - Government borrowing costs across developed economies saw their biggest jumps in months in April, evidence that bond markets are not yet out of the woods when it comes to inflation and the threat of higher-for-longer than expected interest rates.

U.S. inflation jumping the most in six months sent two-year Treasury yields above 5% in April as traders slashed Federal Reserve rate cut bets.

By Valerie Volcovici

WASHINGTON (Reuters) - U.S. climate change diplomat John Podesta said on Tuesday he will meet his Chinese counterpart Liu Zhenmin in Washington in early May, resuming bilateral talks on climate cooperation amid simmering tensions over trade and security.

This is Liu's first visit to Washington in his new role after replacing veteran climate envoy Xie Zhenhua, who stepped down due to health reasons in January.