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Portugal to meet 2% defence spending target ahead of schedule in 2025
LISBON, June 5 (Reuters) - Portugal expects to increase its defence spending to 2% of gross domestic product this year, four years ahead of schedule, Prime Minister Luis Montenegro said on Thursday.Among the 32 members of NATO, Portugal is one of the countries with the lowest defence spending as a s...Reuters
Thu, Jun 5
UK's Reeves says economy is turning a corner, eyes energy investment
LONDON, June 5 (Reuters) - More upbeat business surveys as well as strong first-quarter gross domestic product show that the British economy is recovering from a weak end to 2024, finance minister Rachel Reeves said on Thursday."The most recent GDP numbers, 0.7% growth in the first quarter, the ...Reuters
Thu, Jun 5
CORRECTED-Robinhood exec touts retail investor strength, says overnight trading the future
By Ateev Bhandari June 5 (Reuters) - Robinhood HOOD.O executive Steve Quirk on Thursday credited retail investors with helping the market rebound after a sharp plunge in April, adding that young self-directed traders were increasingly making trades outside traditional hours.His comments came in r...Reuters
Thu, Jun 5
Delta warns tariffs could force airline to stop buying foreign-made airplanes
Airline responds to prospect of national security tariffsIndustry wants Trump administration to maintain tariff-free treatment of planes, parts under 1979 treatyAviation, aerospace sector warn tariffs could put aviation safety at riskBy David Shepardson WASHINGTON, June 5 (Reuters) - Delta Air Li...Reuters
Thu, Jun 5
TREASURIES-US yields climb as trade deal hopes outweigh data
Yields fall after jobless claims, productivity dataTrump-Xi phone talks boost market sentimentTwo-year yield tests 50-day moving averageBy Chuck Mikolajczak NEW YORK, June 5 (Reuters) - U.S. Treasury yields rebounded on Thursday from an initial drop in choppy trading after a round of economic dat...Reuters
Thu, Jun 5
Fed's Harker says trade policy clarity may be most important issue
June 5 - Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday stability in trade policy may outweigh the actual level of tariffs set by the Trump administration.Business leaders “want clarity” amid constantly changing import taxes, Harker said at an event at his bank. When it ...Reuters
Thu, Jun 5
Fed may use AI as it streamlines workforce, says Schmid
June 5 (Reuters) - The Federal Reserve may use artificial intelligence to make its workforce more efficient as it pursues a goal of cutting 10% of its staff over the next two years through attrition or retirement, Kansas City Fed President Jeff Schmid said on Thursday.Schmid did not provide any deta...Reuters
Thu, Jun 5
Fed's Schmid: I expect tariffs to start to show through to prices in the coming months
Federal Reserve (Fed) Bank of Kansas City President Jeff Schmid took a slightly different approach to other Fed officials who also spoke on Thursday, but still remains focused on the overall difficulty of manipulating Fed policy rates in an uneasy post-tariff environment.Fxstreet
Thu, Jun 5
Fed's Harker: Amid uncertainty, the Fed must wait and see on next policy steps
Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker added his own perspective to comments from other Fed officials earlier in the day, noting that whiplash trade policies from the Trump administration are making it difficult for Fed officials to move on policy rates.Fxstreet
Thu, Jun 5
Fed's Harker says its time for caution on monetary policy amid uncertainty
By Michael S. DerbyJune 5 (Reuters) - In his final speech as a central banker, Philadelphia Federal Reserve President Patrick Harker said on Thursday the economic outlook is too unsettled right now to say what's next for monetary policy."America's economy remains resilient," Harker s...Reuters
Thu, Jun 5
Fed's Schmid: uncomfortable with looking through tariff-driven price push
June 5 (Reuters) - Kansas City Federal Reserve Bank President Jeff Schmid on Thursday expressed concern that tariffs could rekindle inflation, saying upward price pressure could be apparent in coming months but not fully known for much longer.The comments show Schmid is likely inclined to hold the F...Reuters
Thu, Jun 5
Fed's Kugler: Watching key employment sectors for effects of lower immigration
June 5 (Reuters) - Federal Reserve Governor Adriana Kugler on Thursday said she expects reductions in net immigration to the U.S. to make the job market tighter, and she said she will be watching several key employment sectors for evidence of that later this year.Kugler, in an event at the Economic ...Reuters
Thu, Jun 5
WRAPUP 2-Weekly jobless claims hit seven-month high; imports post record decline
Weekly jobless claims increase 8,000 to 247,000Continuing claims fall 3,000 to 1.904 millionTrade deficit shrinks by a record 55.5% to $61.6 billionBy Lucia Mutikani WASHINGTON, June 5 (Reuters) - The number of Americans filing new applications for unemployment benefits increased to a seven-month...Reuters
Thu, Jun 5
BoC Deputy Governor Kozicki: Many businesses expect activity to weaken in the near term
Bank of Canada (BoC) Deputy Governor Sharon Kozicki warned on Thursday that a growing number of Canadian businesses are bracing for a general slowdown in overall activity in the coming months, which could undercut job growth performance and put downward pressure on the Canadian economy.Fxstreet
Thu, Jun 5
Fed's Kugler: I see greater upside risks to inflation and downside risks to employment
Federal Reserve (Fed) Board of Governor member Adrianna Kugler noted on Thursday that although growth remains firm (albeit subdued) and Fed policy appears to be holding at a moderate level, key risks are growing, specifically in regards to inflation and a growing bubble of layoff intentions from busFxstreet
Thu, Jun 5
Fed's Kugler: with upside risks to inflation, rates should stay where they are
June 5 (Reuters) - Federal Reserve Governor Adriana Kugler on Thursday said she supports keeping short-term U.S. borrowing costs at their current "moderately restrictive" level as long as tariffs continue to threaten to lift inflation."Disinflation has slowed, and we are already seeing t...Reuters
Thu, Jun 5
Irish corporate tax falls sharply as one-off boost falls away
DUBLIN, June 5 (Reuters) - Growth in Ireland's underlying tax revenue for the first five months of the year slowed to 3.6% after a sharp dip in corporate tax receipts in May that the finance ministry said was due to one-off factors from a year ago falling away.Ireland has collected record levels...Reuters
Thu, Jun 5
Australia is 'safe and reliable' critical minerals alternative, minister says
Australia aims to refine minerals, not just "dig and ship"Australia sends trade officials to Brussels for EU trade talksFarrell urges US to remove tariffs on aluminium and steel PARIS, June 5 (Reuters) - Australia offers a secure alternative supply for critical minerals vital to industry,...Reuters
Thu, Jun 5
NY Fed data shows slight rise in supply chain pressure in May
By Michael S. DerbyJune 5 - Supply chain stress ticked up a hair in May, data from the Federal Reserve Bank of New York said Thursday.The bank said its Global Supply Chain Pressure Index for May rose to 0.19 from -0.28 in April. Positive readings denote above average levels of stress and while May’s...Reuters
Thu, Jun 5
