Economic News

By Timothy Gardner WASHINGTON (Reuters) – The Biden administration on Thursday approved exports of liquefied natural gas from the Alaska LNG project, a document showed, as the United States competes with Russia to ship natural gas from the Arctic to Asia.

WASHINGTON (Reuters) – European Commission Executive Vice President Valdis Dombrovskis said on Friday that the bloc was willing to move quickly on a trade agreement with the United States for critical minerals used in electric vehicles and a recent U.S.-Japan deal was a “good basis for

WASHINGTON (Reuters) – The European Central Bank needs to keep raising interest rates even if most of its past hikes have yet to feed through to the economy, as rapid price growth was at risk of getting entrenched, German central bank chief Joachim Nagel said on

By Ingrid Melander and Elizabeth Pineau PARIS (Reuters) – France’s Constitutional Council will on Friday give its hotly-anticipated verdict on whether the government’s plans to increase the retirement age, which have triggered massive protests, are in line with constitutional rules.

By Michelle Nichols UNITED NATIONS (Reuters) – U.N. Secretary-General Antonio Guterres has written to Russia, Ukraine and Turkey to raise concerns about the implementation of a deal that allows the safe wartime export of grain from several Ukrainian Black Sea ports, a U.N. spokesman said on

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – Economic data has begun to fill in the portrait of a U.S. economy that is losing momentum, with reports over the last seven days showing job growth, inflation, factory output and consumer spending all slowing down.

(Reuters) – JPMorgan Chase & Co’s profit climbed in the first quarter as higher interest rates boosted its consumer business in a period that saw two of the biggest banking failures in U.S. history.

(Reuters) – Finland’s embassy in Moscow has received a letter containing an unknown powder and has reported the matter to the Russian authorities, Russian news agencies reported on Friday.

(Reuters) – BlackRock Inc posted an 18% drop in its first-quarter profit on Friday as the market turmoil last month due to the recent banking crisis squeezed its fee income.

(Reuters) -Citigroup Inc reported a rise in first-quarter profit on Friday as it earned more from borrowers paying interest on loans.

By Leika Kihara WASHINGTON (Reuters) – The Bank of Japan is likely to maintain negative short-term interest rates until inflation durably hits 2%, but could allow long-term yields to move more flexibly around its target, a senior International Monetary Fund official said on Friday.

By Matt Tracy and Saeed Azhar (Reuters) – Some of the largest U.S. banks singled out office commercial real estate on Friday as an area of growing concern, with property values falling and more borrowers defaulting on their loans amid rising interest rates and a slowing

By Duncan Miriri NAIROBI (Reuters) – Kenya is “disturbed” by comments about President William Ruto reportedly attributed to the United Nations deputy secretary-general in a leaked U.S. classified document, a senior Kenyan official said on Friday.

WASHINGTON (Reuters) – Jack Douglas Teixeira was arrested on Thursday for allegedly leaking a trove of highly classified documents online.

WASHINGTON (Reuters) – U.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates.

By Sinéad Carew and Saqib Iqbal Ahmed (Reuters) – Shares in U.S. banks were a mixed bag on Friday with JPMorgan Chase soaring 7.0% after its quarterly report impressed investors while PNC Financial was among regional bank decliners after it reduced growth expectations for 2023.

ANKARA (Reuters) – Turkey summoned the Danish ambassador in Ankara to express its strong condemnation and protest over what it said had been attacks on the Koran and on the Turkish flag on Friday, the Foreign Ministry said.

(Reuters) – Walmart Inc U.S. chief merchandising officer Charles Redfield is stepping down after just over a year in the role, according to an internal memo seen by Reuters on Friday, at a time the retailer is navigating a tightening spending environment.

(Reuters) – Federal Reserve Governor Michelle Bowman said on Friday that the recent failures of Silicon Valley Bank and Signature Bank were not an indictment of the bank regulatory landscape, although she conceded that some changes may be warranted.

By Marc Jones LONDON (Reuters) – Turkey’s lira is likely to drop sharply and could near 30 to the dollar following next month’s elections, bankers at JPMorgan have predicted, if it looks like only modest changes will be made to its unorthodox economic policies.