FRANKFURT (Reuters) -Euro zone inflation remains on track to fall back to 2% next year, so European Central Bank policymakers will likely start cutting interest rates from a record high in June, the account of their April meeting showed on Friday. The ECB left interest rates unchanged last month but made clear that its next…
By Ashitha Shivaprasad (Reuters) – Gold prices firmed on Friday, poised for their best week since April 5, following recent economic data that boosted bets of an interest rate cut from the Federal Reserve. Spot gold gained 0.2% at $2,350.87 per ounce by 0212 GMT after hitting a more than two-week high earlier. Prices have…
By David Shepardson WASHINGTON (Reuters) -U.S. Postmaster General Louis DeJoy defended the Postal Service’s 10-year restructuring plan in the face of harsh criticism from lawmakers as the agency reported a second quarter net loss of $1.5 billion. The loss for the three months ending March 31 was down from a net loss of $2.5 billion…
(Reuters) – Ford Motor is considering offering gas-powered vehicles and hybrids beyond 2030 in Europe, a change from its initial plan for an all-electric lineup in the region, the Detroit automaker said on Thursday. The company had in 2021 outlined plans for an all electric lineup for Europe by the end of the decade. “As…
(Reuters) – Apple will deliver some of its upcoming artificial intelligence features this year through data centers powered by its own in-house chips, Bloomberg News reported on Thursday, as the iPhone maker looks to integrate generative AI in its products. The company is putting its chips in cloud-computing servers capable of processing advanced AI tasks…
WASHINGTON (Reuters) – U.S. mortgage rates fell this week for the first time in more than a month amid signs of slowing economic activity, but remain too high to provide a significant boost to the housing market. The average rate on the popular 30-year fixed-rate mortgage was down to 7.09% as of May 9, from…
BRUSSELS (Reuters) – European Union ambassadors will hold a first discussion on Wednesday on a planned 14th package of sanctions against Russia over its 2022 full-scale invasion of Ukraine. The European Commission has set out a series of proposals, according to a document seen by Reuters, which are outlined below. It is also proposing 52…
(Reuters) – Boeing’s <BA.N> long-awaited first crewed test flight of the new Starliner space capsule was called off for at least 24 hours over a technical issue that launch teams could not resolve in time for the planned Monday night lift-off. The latest flight was scrubbed with less two hours left in the countdown as…
By David Shepardson and Allison Lampert WASHINGTON (Reuters) -The Federal Aviation Administration said on Monday it has opened an investigation into the Boeing 787 Dreamliner after the planemaker said some employees had committed “misconduct” by claiming some tests had been completed. The FAA said it is investigating whether Boeing completed the inspections to confirm adequate…
By Michael S. Derby (Reuters) – Federal Reserve Bank of New York President John Williams said Monday that at some undefined point the U.S. central bank will lower its interest rate target. “Eventually we’ll have rate cuts” but for now monetary policy is in a “very good place,” Williams said in comments made before the…
