NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the question remains open as to whether the U.S. central bank will use yield curve controls, reinforcing market expectations that it is gearing up to do so to stimulate the economy. As the U.S. economic reopening has prompted a stock market rebound and […]

SAN FRANCISCO/NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the coronavirus crisis is worsening racial inequality and delivered a passionate pledge to reverse the massive U.S. job losses that have fallen most heavily on blacks and other minorities. Race, gender, and the economically corrosive effects of inequality have become more frequent […]

(Reuters) – European stocks swung both ways before settling lower on Wednesday as investors awaited the U.S. Federal Reserve’s first economic projections since the COVID-19 pandemic set off a recession in February. After gaining as much as 0.9% at the open, the pan-European STOXX 600 ended down 0.4%, falling for a second straight session. Travel […]

JAKARTA (AFP) – Indonesia posted a record number of coronavirus infections on Wednesday (June 10), sparking calls from health experts for the world’s fourth-most populous country to slam the brakes on easing restrictions. Last week, the capital Jakarta opened mosques for the first time in nearly three months, as its governor announced the gradual reopening […]

BRUSSELS (Reuters) – Britain is seeking a trading relationship with the European Union that is too close to that of an EU member, the EU’s Brexit negotiator Michel Barnier said on Wednesday, urging London to adjust its demands in the four months left to reach a deal. Britain left the EU, the world’s largest trading […]

FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) said on Wednesday that it was combining its international retail and wealth management operations into a single division, marking a further step in a broad restructuring. The new division – dubbed the international private bank – has revenues of around 3 billion euros, or 13% of the global bank. […]

BEIJING (REUTERS) – A Chinese vaccine against African swine fever appears to be safe, in clinical trials now under way, the official Xinhua news agency said on Wednesday (June 10), moving a step closer to preventing one of the world’s most devastating livestock diseases. Progress on the vaccine is being watched by pig farmers in […]

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would “improve dramatically” in the third and fourth quarters. Mnuchin, who appears before the U.S. Senate Small Business Committee to review the progress of federal coronavirus rescue loan programs, said […]

BERLIN (Reuters) – German Finance Minister Olaf Scholz is considering borrowing up to another 50 billion euros ($56.8 billion) to finance Berlin’s bumper stimulus package, a senior official with knowledge of the discussions told Reuters. The plan to take on more debt underlines Germany’s massive fiscal shift from Europe’s former austerity champion to one of […]

(Reuters) – European stocks reversed early gains on Wednesday, as investors turned cautious ahead of the U.S. Federal Reserve’s first economic projections since the COVID-19 pandemic set off a recession in February. After gaining as much as 0.9% at the open, the pan-European STOXX 600 was last down 0.5%. Travel & leisure sector .SXTP led […]