IBT Staff Reporter

Home price growth in Canada is "unsustainably strong" and higher interest rates are needed to moderate demand, a senior Bank of Canada official said on Tuesday, while also noting the inflationary risks of the country's overheating economy.

Transit and 'torture': Rescued migrants recount Libya horrors

The four main parties to negotiations on an intellectual property waiver for COVID-19 vaccines have prepared an "outcome document" for approval by the broader membership, the WTO said on Tuesday, with its chief hoping for a final deal by June.

The makers of brand-name products such as Tide detergent and Kraft Macaroni & Cheese are bolstering their defenses against store-brand rivals like Walmart Inc's Great Value products as shoppers' budgets start to show signs of strain due to persistent inflation.

The U.S. Securities Exchange Commission is investigating Didi Global Inc over its $4.4 billion initial public offering in the United States in June last year, the Chinese ride-hailing giant said.

European stocks rose on Tuesday after a string of upbeat earnings, while banking shares gained as government bond yields hit fresh highs in anticipation of quicker interest rate hikes by global central banks to tackle surging inflation.

Brazilian exports to the 22 countries in the League of Arab Nations rose in the first quarter amid a spike in agricultural commodities prices and a drive to stock up on food, according to a statement sent to Reuters on Tuesday.

Universal Music Group (UMG) reported better than expected first quarter sales on Tuesday, driven by 20% growth in subscription and streaming revenue.

Ukrainian civilians fleeing Russian-occupied parts of the country allege violence, extortion and theft at the hands of Russian troops, not to mention daily humiliation at checkpoints.

Activist investor Clearway Capital has written to the board of Glanbia calling for a break-up of the Irish nutrition company to help boost its value to more than 6 billion euros ($6.33 billion), a letter seen by Reuters showed.

Pressure on OPEC+ eases amid oil demand fears

The United States will extend expiring work permits for a year and a half for tens of thousands of immigrants due to lengthy backlogs to process renewals, U.S.

German software firm SAP is working with investment bank Moelis & Co to sell its corporate learning software business Litmos as it seeks to streamline its operations and focus on cloud-based revenue, three sources told Reuters.

The price of a major U.S. junk bond exchange traded fund (ETF) fell to its lowest in over two years this week, as concerns over the impact of a hawkish Federal Reserve on the economy led investors to pull out of riskier assets.

During his 16 years on the U.S. Supreme Court, Justice Samuel Alito has forged a reputation as a staunch conservative on a range of issues, opposing abortion and LGBT rights and supporting religious liberty and gun rights.

The U.S. State Department has determined that Russia has wrongfully detained American basketball player Brittney Griner, a department spokesperson said in a statement.

Facebook-owner Meta Platforms Inc is opening up access to a large language model for artificial intelligence research, the social media company said on Tuesday.

Markets on edge as Fed prepares renewed salvo against inflation

President Joe Biden on Tuesday vowed to protect abortion rights and warned that a potential Supreme Court ruling overturning its landmark decision legalizing the procedure nationwide could undermine other freedoms that Americans possess.

U.S. President Joe Biden on Tuesday appealed to voters to protect abortion rights by backing candidates who support them in November's elections after a leaked Supreme Court draft showed it could soon overturn its 1973 decision legalizing abortion.

Washington has reached a $518 million settlement with drug distributors McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc, ending a months-long trial over the companies' alleged role in fueling the opioid epidemic in the state.

Brazil's new agriculture minister Marcos Montes will visit Jordan, Egypt and Morocco in a tour starting this week to discuss increasing fertilizer imports from those countries.

CNH Industrial beat first-quarter earnings expectations on Tuesday and the agricultural and construction machine maker's CEO said he was confident the company could successfully navigate ongoing global supply chain issues.

French left closes ranks to hobble Macron in parliamentary vote

Coca-Cola's estimated $3 billion initial public offering (IPO) for its African bottling unit will likely take place in the third quarter after market turmoil linked to the war in Ukraine upset plans to list earlier, three sources said on Tuesday.

Investigators from Brazil's electoral courts have given the Economy Ministry 10 days to explain a huge tax cut on industrial goods such as televisions and refrigerators over concerns about its legality and impact on the October election.

Sinn Fein, the former political wing of the IRA, is on course to become the biggest party in Northern Ireland's government after Thursday's election, a milestone in its quest for a united Ireland.

Gold prices are expected to hold firm this quarter as investors seek refuge from soaring inflation and risks such as the Ukraine war, before retreating later this year as interest rates rise, a Reuters poll showed on Tuesday.

British Prime Minister Boris Johnson told Ukraine on Tuesday he believed it would defeat Russia and expose the "gigantic error" of the Kremlin's invasion as he invoked Britain's wartime leader Winston Churchill to underline his support for Kyiv.