Economic News

MEXICO CITY (Reuters) – Mexico on Wednesday created a presidential commission to fight the trafficking of synthetic drugs, firearms and ammunition, a move that comes as officials travel to Washington to meet with their U.S. and Canadian counterparts to tackle the issue.

MEXICO CITY (Reuters) – The head of Mexico’s immigration agency, Francisco Garduno, is under investigation over a deadly fire last month at a migrant detention center in the northern border city of Ciudad Juarez, President Andres Manuel Lopez Obrador said on Wednesday.

(Reuters) – Annual inflation in Russia dropped below the central bank’s 4% target in March for the first time in a year, as the base effect of last year’s double-digit price rises takes hold, data from the state statistics service Rosstat showed on Wednesday.

MEXICO CITY (Reuters) – The United States has said it will return money and assets confiscated from a convicted former senior Mexican state official that were worth over $246 million, Mexican President Andres Manuel Lopez Obrador said on Wednesday.

(Reuters) -National Public Radio (NPR) said on Wednesday it will no longer post fresh content to its 52 official Twitter feeds after the U.S. organization was labeled as “state-affiliated media” by the social media platform

By Hannah Lang WASHINGTON (Reuters) – Stricter banking regulations would not have prevented Silicon Valley Bank’s sudden collapse last month, a top official at the Federal Deposit Insurance Corporation said on Wednesday, highlighting instead management failures behind its demise.

TORONTO (Reuters) – Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank left its key interest rate on hold at a 15-year high of 4.50%.

LONDON (Reuters) -Prince Harry will attend the Coronation next month of Britain’s King Charles but his wife, Meghan, will remain in California with their children, a spokesperson for Buckingham Palace said on Wednesday.

TALLINN (Reuters) – Estonia’s parliament voted on Wednesday in favour of Prime Minister Kaja Kallas staying in office following last month’s election, giving a nod to her plans to raise taxes and defence spending in the face of perceived threats from neighbour Russia.

BRUSSELS (Reuters) – Eva Kaili, the former European Parliament vice president accused of corruption, is to be released from custody, while still facing charges, federal prosecutors and her lawyer’s office said on Wednesday.

(Reuters) – Inflation may be falling but it is yet to do so at a rate commensurate with inflation falling back to the Fed’s 2% goal, Richmond Fed President Thomas Barkin said on Wednesday.

CHENGDU, China (Reuters) – Chinese electric vehicle (EV) maker Zeekr on Wednesday launched a new compact sports utility vehicle (SUV) as the Geely-owned brand strives for market share in a premium segment previously dominated by German rivals.

WASHINGTON (Reuters) – U.S. consumer prices barely rose in March as the cost of gasoline declined, but stubbornly high rents kept underlying inflation pressures simmering, likely ensuring that the Federal Reserve will raise interest rates again next month.

By Jonathan Spicer ISTANBUL (Reuters) – The United States on Wednesday imposed sanctions on at least four Turkey-based entities it said violated U.S. export controls and helped Russia’s war effort, in the biggest U.S. enforcement action in Turkey since the invasion of Ukraine last year.

By Sheila Dang (Reuters) – Snap Inc, owner of photo messaging app Snapchat, said on Wednesday it has hired a former Google executive to help the tech company improve the performance of its digital ads.

OTTAWA, April 12 (Reuters) – Interest rates in Canada may have to stay restrictive for longer to ensure inflation declines to the Bank of Canada’s 2% target, Governor Tiff Macklem said on Wednesday.

(Reuters) – JPMorgan Chase & Co is asking all its managing directors to work from office five days a week, the bank said in an memo that was seen by Reuters on Wednesday.

PARIS (Reuters) – French President Emmanuel Macron makes no apology for comments he made in an interview he gave in China, a senior French diplomat told reporters on Wednesday.

MANILA (Reuters) – The Philippines’ central bank could pause its interest rate- hiking cycle at its meeting next month due to easing inflation, its governor said on Wednesday.

By Jody Godoy and Helen Coster (Reuters) – A Fox Corp shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits.