IBT Staff Reporter

Stubbornly hot U.S. inflation is fueling bets that the Federal Reserve will get more aggressive in its bid to cool price pressures, with chances of a jumbo-sized interest rate hike seen rising and the policy rate expected to top 3% by year end.

Japan's Prime Minister Fumio Kishida pledged on Friday to boost its regional security presence to counter multiple threats, from China's expansion in the South China Sea to North Korea's nuclear missile programme.

The United States and the Dominican Republic on Friday said they would form a technical working group to help improve labor law enforcement in the Dominican sugar sector amid concerns voiced by U.S.

Netflix Inc shares fell 5% on Friday after Goldman Sachs downgraded the streaming pioneer over risks of slower consumer spending and tough competition from Amazon and Walt Disney Co.

As the United Nations tries to broker a path for grain from Ukraine and temper worries about a global food crisis, hundreds of mines laid along the Black Sea present a practical nightmare that will take months to resolve even after any agreement.

As the United Nations tries to broker a path for grain from Ukraine and temper worries about a global food crisis, hundreds of mines laid along the Black Sea present a practical nightmare that will take months to resolve even after any agreement.

The Czech government's plan to let companies pay taxes in euros from 2024 will enable the state to raise its borrowing in euros and it expects "low tens of percent" of firms to make the switch, Finance Minister Zbynek Stanjura told Reuters.

Algeria suspended a 20-year friendship treaty with Spain this week and moved to limit trade with its northern neighbour, raising more questions about the potential impact on the long-established gas business between the two countries.

The Biden administration will scrap a paint scheme for Air Force One proposed by former President Donald Trump, after the Air Force determined the design would create too much heat for the presidential aircraft, a U.S.

State-controlled Russian National Reinsurance Company (RNRC) is now the main reinsurer of Russian ships, including Sovcomflot's fleet, after Western insurance firms withdrew cover for Russian shipowners, three people familiar with the matter told Reuters.

The Czech Republic's finance minister told Reuters he aimed to keep next year's budget deficit target below this year's plan - after a report last week showed a higher gap - to help bring the fiscal gap within EU limits by 2024.

Gearing reinvestments of pandemic-era bond purchases back into stressed markets may not be enough to prevent unmanageable divergences in borrowing costs across the euro area as the ECB hopes after ending its bond buying, UBS warned on Friday.

US inflation skyrockets, piling pressure on Biden

Germany will help Ukraine provide medical help for war victims by helping build trauma centres for the wounded, donating prosthetic limbs and deploying German doctors to the country, Health Minister Karl Lauterbach said on Friday.

Uvalde schools police chief Pete Arredondo said he never considered himself the incident commander of the scene of last month's school shooting in Texas that killed 19 children and two teachers, and that he did not order police to hold back on breaching the building.

Hit by war, Ukraine toy maker back in business

Canada's jobless rate inched down to a new record low after adding more jobs than expected in May, and wage growth picked up steam, official data showed on Friday, bolstering the case for an even larger rate increase next month by the central bank.

U.S. President Joe Biden has promised his Brazilian counterpart Jair Bolsonaro the United States will reconsider tariffs levied on Brazilian steel as they met on Thursday, two Brazilian government sources said.

U.S. President Joe Biden has promised his Brazilian counterpart Jair Bolsonaro the United States will reconsider tariffs levied on Brazilian steel as they held a bilateral meeting on Thursday, two Brazilian government sources said.

The fight against climate change is also a fight for the right to education of girls, millions of whom lose access to schools due to climate-related events, Nobel Peace Prize laureate Malala Yousafzai told Reuters on Friday.

The Biden administration will spend $314 million to support Venezuelan migrants across the Western Hemisphere and restart programs allowing some Cubans and Haitians to reunite with family members in the United States, U.S.

Signatories to a declaration at the U.S.-hosted Summit of the Americas on Friday will pledge to expand temporary work programs for migrants and improve their legal options as the region works to manage record levels of migration, U.S.

One of Sri Lanka's richest businessmen will replace the president's brother in parliament, a ruling party official said on Friday, as the cash-strapped country moves forward on talks for a bailout plan with the International Monetary Fund (IMF).

Pope Francis' trip to Africa next month has been cancelled because of the 85-year-old pontiff's knee ailment, the Vatican said on Friday, raising questions about his ability to walk during the rest of his papacy.

Pope Francis' July 2-7 trip to Democratic Republic of Congo and South Sudan has been cancelled because of the 85-year-old pontiff's knee ailment, the Vatican said on Friday.

A former top seller for Amazon in India, Cloudtail, has accused India's antitrust agency of illegally detaining its employees during a raid over suspected competition law violations, court documents seen by Reuters show.

Biden leads Americas pledge on migration after contested summit

Indonesia's head of the armed forces said on Friday that he is investigating a Reuters report that navy officers asked for a payment of $375,000 to release a fuel tanker detained last week on suspicion of anchoring illegally in its waters.

U.S. stock indexes slid on Friday as consumer prices rose more than expected in May, dashing hopes that inflation is peaking and fanning worries about more aggressive steps by the Federal Reserve to tame it.