Instant View: US Feb PCE price index shows inflation keeps cooling

NEW YORK (Reuters) – U.S. consumer spending rose moderately in February, likely payback after surging the prior month, and while inflation showed signs of cooling it remained elevated, which could see the Federal Reserve raising interest rates one more time this year. The personal consumption expenditures (PCE) price index increased 0.3% last month after accelerating […]

OPEC+ unlikely to tweak oil policy in Monday talks – delegates

By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW (Reuters) – OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after oil prices recovered following a drop to 15-month lows. Oil has recovered towards $80 a barrel for […]

Portugal’s rents hit record high amid cost of living crisis

LISBON (Reuters) – Housing rents in Portugal jumped nearly 11% to a record high in the last quarter of 2022, official data showed on Wednesday, adding to the soaring cost of living. Soaring prices of homes and rents, especially around the capital Lisbon, coupled with rampant inflation, high interest rates and low wages have prompted […]

U.S. charges FTX’s Bankman-Fried with paying $40 million Chinese bribe

By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of the now-bankrupt FTX cryptocurrency exchange of paying a $40 million bribe to Chinese officials so they would unfreeze his hedge fund’s accounts. The new bribery conspiracy charge adds to the pressure […]

European shares rebound as banking jitters ebb on SVB deal

By Sruthi Shankar and Bansari Mayur Kamdar (Reuters) -European stocks climbed on Monday, as a sense of calm returned to markets following a week of turbulence over concerns about banking sector stability after the collapse of Credit Suisse and two U.S. mid-sized lenders. The pan-European STOXX 600 index rose 1.1%, with investors drawing comfort from […]

Binance says withdrawals have resumed after technical glitches

LONDON (Reuters) -Cryptocurrency exchange Binance has resumed withdrawals on its platform after technical issues affected spot trading, the company said in a tweet. Binance suspended deposits and withdrawals earlier on Friday due to a “bug on a trailing stop order,” Chief Executive Changpeng Zhao said in a tweet, adding that the pause in deposits and […]

Potential TikTok ban sends advertisers scrambling

By Sheila Dang (Reuters) – Advertisers are seeking any assurances from TikTok, the viral app that helped usher in a wave of short-form video across social media, as the Chinese-owned company again faces a potential ban in the U.S. over national security concerns. When TikTok’s Chief Executive Officer Shou Zi Chew testifies before Congress for […]

Oil up 2% as dollar weakens on small US Fed rate hike

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 2% to a one-week high on Wednesday as the dollar slid to a six-week low after the U.S. Federal Reserve delivered an expected small rate hike while hinting that it was on the verge of pausing future increases. Brent crude futures rose $1.37, or 1.8%, […]

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    Instant View: US Feb PCE price index shows inflation keeps cooling

    March 31, 2023

    NEW YORK (Reuters) – U.S. consumer spending rose moderately in February, likely payback after surging the prior month, and while inflation showed signs of cooling it remained elevated, which could see the Federal Reserve raising interest rates one more time this year. The personal consumption expenditures (PCE) price index increased 0.3% last month after accelerating […]
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