Author: News Room

By Giuseppe Fonte ROME (Reuters) – Italy is likely to confirm its budget deficit targets for this year and next, people familiar with the matter said, as the Treasury aims for tighter fiscal policy to limit the impact of rising euro zone interest rates. In its Economic and Financial Document (DEF) to be unveiled next week, the Treasury aims for a 2023 fiscal gap at 4.5% of gross domestic product, unchanged from the target set last November, the people told Reuters. The government is also expected to keep its 3.7% deficit goal for 2024. Last year, Italy reported a budget…

By Ambar Warrick Investing.com — Asian currencies moved in a flat-to-low range on Wednesday, while the dollar stuck to two-month lows as weak economic data fueled increasing concerns over an economic slowdown this year. The was the sole outlier among global currencies, rallying 0.6% after the hiked rates by a bigger-than-expected 50 basis points, and flagged more action against high inflation. But the central bank also warned of slowing economic growth, as the country recovers from the impact of cyclone Gabrielle earlier this year. But most other currencies trended lower, with trading volumes in Asia also muted on account of…

By Laura Sanicola (Reuters) – Oil prices settled largely unchanged on Wednesday, despite greater-than-expected draws in and fuel stockpiles, as the market weighed worsening economic prospects against expectations of U.S. crude inventory declines and plans by OPEC+ producers to reduce output. futures settled up 5 cents, or 0.1%, at $84.99 a barrel, while West Texas Intermediate crude ended 10 cents, or 0.1%, lower at $80.61 a barrel. U.S. crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed. Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million…

© Reuters. FILE PHOTO: The logo for McDonald’s restaurant is seen as McDonald’s Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts (Reuters) -McDonald’s Corp is cutting pay packages for some employees as part of a restructuring that includes layoffs and the shutting down of some offices, the Wall Street Journal reported on Friday, citing people familiar with the matter. Reuters on Monday reported that the number of corporate employees the company was planning to lay off this week will tally in the “hundreds.” The fast-food chain has offered some employees a chance to remain…

Eurozone inflation slowed to a 13-month low in March but underlying price pressures intensified, highlighting the dilemma for the European Central Bank over the pace and size of further interest-rate increases. The consumer price index–which measures what consumers pay for goods and services–increased 6.9% in March on year, easing from an 8.5% rise in February, preliminary data from the European Union’s statistics agency Eurostat showed Friday. This marks the lowest inflation rate since February 2022. The reading is below the 7.1% consensus forecast from economists in a poll by The Wall Street Journal. Inflation eased in March due to falling…

Dear Quentin, My dad died in September in Pennsylvania (although he was a Florida resident), and my stepmother insists there is no will and no estate, but then she texted to say that my father wanted me to inherit an account that listed my late mother as beneficiary. The insurance company told me this account was valued at $80,000 and it would need to go to probate. A few weeks later they emailed and said they decided that all of it should go to my stepmother as my dad forgot to change the account from my mom as beneficiary to…

The hedge fund that owned the National Enquirer during the period when it became embroiled in hush-money payments that have led to the criminal indictment of Donald Trump, has been charged in an unrelated action with illegally manipulating bond prices for the company that published the supermarket tabloid. Don’t miss: How Trump’s presidency became inextricably linked with catch-and-kill — setting the stage for his indictment Chatham Asset Management, a New Jersey–based hedge fund, and its founder, Anthony Melchiorre, have agreed to pay a $19.3 million fine for tampering with the sale process for bonds of American Media Inc. in a way that…

U.S. stock indexes opened lower on Thursday after data shows the number of Americans filing for unemployment benefits came in higher than expected last week, a sign suggesting the labor market has softened more than previously believed in the face of higher interest rates. The Dow Jones Industrial Average DJIA, +0.01% dropped 65 points, or 0.2%, to 33,421. The S&P 500 SPX, +0.36% was down 0.3%, while the Nasdaq Composite COMP, +0.76% declined by 0.5%. In the seven days ended April 1, new jobless claims fell to 228,000 from a revised 246,000 in the prior week, topping the 200,000 level…

Hear lawmaker’s message to the Republicans that voted to expel him from the state house Tennessee’s Republican-controlled House of Representatives voted to expel two Black Democratic lawmakers and spare a White lawmaker after they led a gun reform protest on the House floor in the wake of a mass shooting in Nashville that left six dead, including three children. Justin Jones, one of the lawmakers expelled joins CNN This Morning to discuss. Read the full article here

Italian officials are racing to review a deal to sell the country’s largest refinery after the US government privately raised concerns about the sale of the Russian-owned site to a little-known fund in Cyprus.Russia’s Lukoil agreed in January to sell its Sicilian ISAB refinery to GOI Energy, a newly established branch of the Cypriot private equity group Argus. The €1.5bn deal, which overtook a competing offer from US-based Crossbridge Energy Partners and oil trader Vitol, also involves commodity trader Trafigura. Trafigura will provide working capital and crude oil to the facility, and market the refined fuels its produces.The transaction was…