Currencies

Brazil's Lula in "no rush" to retaliate against US tariffs

SAO PAULO -Brazilian President Luiz Inacio Lula da Silva said on Friday he is in no rush to reciprocate tariffs imposed by the United States on goods from his country, and reiterated that his...

Fed's balance sheet drawdown enters new stage as reverse repos largely drained

NEW YORK -The Federal Reserve's effort to shrink the size of its balance sheet is moving into a more uncertain phase as a key proxy of excess liquidity has been very nearly extinguished. ...

Seeking more power, Trump uses firings to test presidential limits

WASHINGTON -U.S. President Donald Trump is pushing for more control over everything the federal government and its agencies do, and a string of firings will test how far he might be able to take his...

Russia's Gazprom first-half net profit down 6% to $12 billion

MOSCOW -Gazprom's net income dropped almost 6% year-on-year in the first half of 2025 to 983.1 billion roubles , the state-owned Russian company said on Friday, due to a stronger rouble and weaker...

Canada's second-quarter GDP contracts, rate cut bets increase

OTTAWA -Canada's economy contracted in the second quarter much more than anticipated on an annualized basis as U.S. tariffs squeezed exports, but higher household and government spending cushioned...

Russia's Transneft reports 3.6% fall in second-quarter profit

MOSCOW -Second-quarter net profit of Russia's oil pipeline monopoly Transneft fell by 3.6% to 73.1 billion roubles , the company said on Friday. Revenue edged up by 2.8% to 357.9...

Canada's economy shrinks by more than expected in second quarter

TORONTO -Canada's economy contracted in the second quarter by a much larger degree than anticipated on an annualized basis as U.S. tariffs squeezed exports, but higher household and government...

US consumer spending strong; core inflation warmer on services

WASHINGTON -U.S. consumer spending increased by the most in four months in July while services inflation picked up, but economists did not believe strong domestic demand would prevent the Federal...

Sterling on course for monthly rise against dollar but fiscal risks linger

Sterling slipped against the dollar and euro on Friday amid concerns over Britain's fiscal position, but remained on track for a monthly gain against the U.S. currency. The pound...

Russia's Aeroflot H1 profit jumps 76%

MOSCOW -Russian flag carrier Aeroflot on Friday reported a 76% year-on-year increase in net profit for the first half of 2025, sayig it had made 74.3 billion roubles . Revenue rose 10%...

Inflation update tests Fed doves

What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Wall Street indexes continue to grind out new records as Federal Reserve...

North Korea posts fastest growth in 8 years in 2024, driven by Russia ties, Seoul says

SEOUL -North Korea's economy grew 3.7% in 2024, the fastest annual pace of growth in eight years, backed by expanded economic ties with Russia, according to estimates by South Korea's central bank...

Indian rupee sinks to record low versus offshore yuan in likely boost to competitiveness

MUMBAI -The Indian rupee weakened to a new all-time low against the offshore Chinese yuan on Friday, a move that could boost competitiveness for a segment of exporters in the South Asian nation...

NZ central bank chair Quigley resigns on fallout from governor's sudden exit

WELLINGTON -Reserve Bank of New Zealand Chairman Neil Quigley has resigned with immediate effect, Finance Minister Nicola Willis said on Friday, citing the fallout over the handling of the sudden...

Japan's output falls as US tariffs bite, inflation slows

TOKYO -Japan's factory output slumped in July as U.S. tariffs bite and a leading indicator of nationwide inflation slowed, data showed on Friday, complicating the central bank's decision on the next...

Dollar trades lower with Fed cut in view, on course for monthly drop

NEW YORK -The dollar weakened against the euro and Swiss franc on Friday, on course for a 2% decline in August against a basket of currencies, as traders prepared for a U.S. interest rate cut by the...

Fed's Waller sees rate cuts over next 3-6 months, starting in September

Federal Reserve Governor Christopher Waller on Thursday said he wants to start cutting U.S. interest rates next month and fully expects more rates cuts to follow to bring the Fed's policy rate closer...

Exclusive-Russia's Ust-Luga port to operate at half capacity in September after pipeline damage, sources say

MOSCOW -Russia's Ust-Luga oil export terminal will operate at around 350,000 barrels per day in September, or about half its usual capacity, following damage to pipeline infrastructure from Ukrainian...

Fed's Cook sues Trump over his attempt to fire her; court hearing set for Friday

Federal Reserve Governor Lisa Cook filed a lawsuit on Thursday claiming President Donald Trump has no power to remove her from office, setting up a legal battle that could challenge long-established...