ECONOMY & MARKETS

U.S. Commerce Secretary Gina Raimondo said on Sunday that President Joe Biden has asked his team to look at the option of lifting some tariffs on China that were put into place by former President Donald Trump, to combat the current high inflation.

Waves of industry consolidation over the decades have resulted in fewer choices for customers from telecoms to banking, with Canadians paying the world's most expensive mobile phone bills and forking out more for everyday banking, consumer advocates say.

Pakistan GDP growth will slow to 5% for the upcoming fiscal year beginning on July 1, from 5.9% in the outgoing year, following budgetary tightening aimed at winning International Monetary Fund (IMF) support, the government said on Saturday.

EU Economic Commissioner Paolo Gentiloni said on Saturday he aimed to present a reform of the eurozone Stability Pact after the summer, adding that the new rules would likely include country-specific debt targets.

A rally that lifted U.S. stocks from the brink of a bear market faces an important test next week, when consumer price data offers insight on how much more the Federal Reserve will need to do in its battle against the worst inflation in decades.

Citigroup Inc Chief Executive Jane Fraser said on Friday that Europe was more likely than the United States to slip into a recession, as she joined other global bank CEOs this week to warn about the health of the global economy.

Russia's failure to send an interest payment to creditors is triggering a payout on debt insurance, taking the country another step closer to its first default on international bonds since the Bolshevik revolution more than a century ago.

U.S. jobs gains of 390,000 in May and still strong wage growth leave the Federal Reserve on track for half point interest rate increases in June and July as the U.S.

The Federal Reserve is on track for half point interest rate increases in June, July, and perhaps even beyond as fresh job market data Friday showed no sign the U.S.

The Federal Reserve is on track for half point interest rate increases in June, July, and perhaps even beyond as fresh job market data Friday showed no sign the U.S.

The European Union wants to accelerate efforts to finalise trade agreements with third parties after a six-month pause, as the bloc adapts to the Ukraine war and other challenges, EU trade commissioner Valdis Dombrovskis said on Friday.

EU countries have reached agreement on their sixth package of sanctions against Russia over its invasion of Ukraine, including a complete import ban on all Russian seaborne crude oil and petroleum products in six to eight months.

U.S. stock indexes fell on Friday after a solid jobs report appeared to give the Federal Reserve a green light to continue on an aggressive policy-tightening path to cool decades-high inflation while shares of Apple and Tesla weighed heavily.

Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of staff at the electric carmaker, he said in an email to executives seen by Reuters.

Tesla CEO Elon Musk has a "super bad feeling" about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters.

Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters.

Wall Street was tipped for a weaker open on Friday, bucking share price gains in Europe and Asia after warnings on the economic outlook from Tesla Chief Executive Elon Musk who outlined plans to lay off 10% of his staff.

Global equity markets fell as U.S. Treasury yields reached two-week highs on Friday after data showed the American economy generated a greater-than-expected number of jobs in May, signaling the Federal Reserve will likely continue raising interest rates in its effort to curb inflation.

New U.S. trade negotiations with Taiwan could move more quickly than broader talks with 12 Indo-Pacific countries given strong interest in Taipei and Washington in deepening economic ties, Deputy U.S.

Australia's central bank will raise rates by a modest 25 basis points for a second straight meeting in June, still opting to move more slowly than most of its peers in a campaign to bring down soaring inflation, a Reuters poll of economists found.

South Korea's consumer inflation picked up more than expected in May to a near 14-year high on a global surge in materials and food costs, data showed on Friday, cementing the case for further interest rate raises.

The United States on Thursday added 71 Russian and Belarusian entities to its trade blacklist including several aircraft factories and shipbuilding and research institutes in its latest effort to deprive the Russian military of U.S.

Portugal's government is aiming to protect young people in the jobs market with a new law to cut the repeated renewals of short-term contracts, increase overtime and redundancy payments, and secure minimum pay levels for interns.

Ukraine jacked up its main interest rate to a seven-year-high of 25% from 10% on Thursday, tightening policy for the first time since the Russian invasion to tackle double-digit inflation and protect the hryvnia as some business activity returns.

Goldman Sachs' President and Chief Operating Officer John Waldron said on Thursday the current economic turmoil is one of the most challenging ones he has ever faced in his career.

U.S. Treasury Secretary Janet Yellen this week issued a 'mea culpa' on getting it wrong on inflation.

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week as demand for labor remained strong, helping to underpin the economy amid rising interest rates and tightening financial conditions.

Wall Street ended sharply higher on Thursday, led by Tesla, Nvidia and other megacap growth stocks in a choppy session ahead of a key jobs report due on Friday.

Wall Street rallied on Thursday, led by Tesla, Nvidia and other megacap growth stocks in a choppy session ahead of a key jobs report due on Friday.