Economic News

(Reuters) – Russia on Monday brushed off Japanese criticism of naval exercises by its Pacific Fleet, saying it needed to be on guard against a variety of regional threats while focusing on Ukraine.

FRANKFURT (Reuters) – The European Central Bank should stop relying on banks’ self-assessments when setting capital requirements and do its own homework instead, independent experts said on Monday.

By Jeffrey Dastin (Reuters) – The artificial intelligence behind ChatGPT, the homework-drafting chatbot that some schools have banned, is coming to more students via the company Chegg Inc.

JAKARTA (Reuters) – Indonesia posted a 128.5 trillion rupiah ($8.69 billion) budget surplus in the first quarter on strong tax collection and the recent strengthening of the rupiah currency could help further reduce this year’s deficit, officials said on Monday.

(Reuters) – M&T Bank Corp beat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve’s rapid rate hikes to tame high inflation boosted the lender’s interest income.

By Eimi Yamamitsu, Mayu Sakoda and Tom Bateman

AMSTERDAM (Reuters) – China is the greatest threat to Dutch economic security, the Netherlands’ intelligence service said on Monday in an annual assessment of threats it said included commercial espionage and covert investments.

NEW DELHI (Reuters) – India and Russia are discussing a free trade agreement to guarantee investment between the two countries, Russia’s deputy prime minister said on Monday.

By Rozanna Latiff and Yantoultra Ngui KUALA LUMPUR/SINGAPORE (Reuters) – Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister Anwar Ibrahim’s six-month-old administration.

KUALA LUMPUR (Reuters) – The Malaysian government is re-evaluating a $3.9 billion settlement deal reached between the previous administration and U.S. investment bank Goldman Sachs over the 1MDB financial scandal, state news agency Bernama reported on Monday.

MILAN (Reuters) – Exor, the holding company of Italy’s Agnelli family, said on Monday its Chairman Ajay Banga would not seek reappointment to the company’s board following his recent nomination as the next president of the World Bank.

A look at the day ahead in U.S. and global markets from Mike Dolan.

By Catarina Demony and Miguel Pereira PORTO (Reuters) – Fraudster Tiago Espanhol has been behind bars for a little over two years. He has 2-1/2 more years before release but he says building confessionals for Pope Francis’ visit to Portugal this summer is speeding up time.

By Jane Lanhee Lee OAKLAND, Calif. (Reuters) – Quantum computers promise to be millions of times faster than today’s fastest supercomputers, potentially revolutionizing everything from medical research to the way people solve problems of climate change. The wait for these machines, though, has been long, despite

By Yuvraj Malik (Reuters) – Netflix Inc is expected to report that it added some 2 million subscribers in the first quarter and investors will scrutinize whether recent price cuts and the launch of an ad-supported plan are tempting people to subscribe and stay on.

By David Lawder and Andrea Shalal WASHINGTON (Reuters) – Just a month after the biggest banking crisis in more than a decade, the world’s top economic and financial policymakers gathered in Washington and said surprisingly little about financial system stability – at least publicly.

DUBAI (Reuters) – Iran has officially invited Saudi Arabia’s king to visit the country, an Iranian Foreign Ministry spokesperson said on Monday, after the two regional rivals agreed to end years of hostility following a China-brokered agreement in March.

ISTANBUL (Reuters) – Turkey’s central government budget recorded a deficit of 47.22 billion lira ($2.46 billion) in March, the Finance Ministry said on Monday, while the cumulative deficit for 2023 so far widened to 250 billion lira, mainly due to devastating earthquakes.

PARIS (Reuters) – A wildfire destroyed nearly 1,000 hectares on the French-Spanish border on Sunday and early Monday, authorities said, as parts of southern Europe remain gripped by a drought that is raising fears of a repeat of last summer’s exceptional conflagrations.

JAKARTA (Reuters) – Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China’s battery minerals producer Zhejiang Huayou Cobalt, the Southeast Asian country’s investment minister said.