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WRAPUP 1-Europe's major banks signal caution as ominous outlook tempers profit wins
Provisions and souring loans make comeback in Q1Lenders reaffirmed targets but highlight uncertaintyShares recoup losses from April's investor exitsBy Sinead Cruise and Tommy Reggiori Wilkes LONDON, April 30 (Reuters) - Big European lenders are retaining ambitious performance targets after bu...Reuters
8 hours ago
US crude, gasoline stockpiles fall; distillates build last week, EIA says
HOUSTON, April 30 (Reuters) - U.S. crude oil and gasoline stocks fell, while distillate inventories rose last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 2.7 million barrels to 440.4 million barrels in the week ended April 25, the EIA said, compared with a...Reuters
8 hours ago
INSTANT VIEW-Tame March PCE inflation no salve after downbeat Q1 US GDP report
April 30 (Reuters) - Consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 0.7% in March after an upwardly revised 0.5% gain in February, the Commerce Department' said on Wednesday. Economists polled by Reuters had forecast consumer spending would rise 0.5%...Reuters
8 hours ago
Miu Miu's momentum powers Prada sales growth
Prada first quarter net revenues up 12.5%, driven by Miu Miu's 60% retail sales jumpMiu Miu now accounts for 31% of Prada's total revenuesPrada to adjust prices considering euro strength and potential US tariffsBy Elisa Anzolin MILAN, April 30 (Reuters) - Net revenues at Italian luxury gr...Reuters
8 hours ago
US consumer spending surges in March, inflation cools
WASHINGTON, April 30 (Reuters) - U.S. consumer spending increased solidly in March as households boosted purchases of motor vehicles to avoid higher prices and shortages due to tariffs, but that did little to change economists' views that the economy had shifted into lower gear. Consumer spendin...Reuters
9 hours ago
TREASURIES-Yields gyrate lower investors mull weak GDP and stagflation scenario
NEW YORK, April 30 (Reuters) - U.S. Treasury yields seesawed lower after a weaker-than-expected read on first quarter U.S. growth underscored market reasoning that White House tariff uncertainty will both weaken growth and increase inflation in a dreaded "stagflation" scenario. Gross domesti...Reuters
9 hours ago
Breaking: US core PCE inflation softens to 2.6% in March as expected
Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged lower to 2.3% on a yearly basis in March from 2.5% in February, the US Bureau of Economic Analysis (BEA) reported on Wednesday. This reading came in above the market expectation of 2.2%Fxstreet
9 hours ago
Australia home prices set record in April, sales volume slows on tariff risk, Cotality data shows
SYDNEY, May 1 (Reuters) - Australia's property prices hit a record in April although U.S. tariff risks and election uncertainty led to a slump in the sales and listings volume, property consultant Cotality said on Thursday. Prices rose 0.3% in April from March to a new peak of A$ 825,349 ($528,4...Reuters
9 hours ago
US pending home sales post biggest gain in more than a year
WASHINGTON, April 30 (Reuters) - Contracts to buy U.S. previously owned homes surged by the most in more than a year in March, boosted by a decline in mortgage rates.The National Association of Realtors (NAR) said on Wednesday its Pending Home Sales Index, based on signed contracts, jumped 6.1% to 7...Reuters
9 hours ago
China adopts law to bolster private sector amid trade war
China's private sector contributes over 60% of economic outputLaw will ensure fair competition and promote growth, it saysBeijing has unveiled raft of measures to promote private sectorGovernment has shifted in its approach to tech giantsBy Joe Cash and Kevin Yao BEIJING, April 30 (Reuters) -...Reuters
9 hours ago
WRAPUP 1-Euro zone economy expands faster than forecast but faces trade war hit
GDP grows by 0.4% vs 0.2% expectationInflation slows in Germany, holds steady in ItalyTrade war already hitting sentiment, investmentMore ECB rate cuts seen as inflation is largely defeatedBy Balazs Koranyi FRANKFURT, April 30 (Reuters) - The euro zone economy grew faster than expected in the fir...Reuters
9 hours ago
Brazil's payroll-deductible loans surge in March after new government rules
BRASILIA, April 30 (Reuters) - Payroll-deductible loan issuance to private-sector workers in Brazil rose sharply in March after new rules introduced by the government as part of a broader effort to boost President Luiz Inacio Lula da Silva's flagging approval ratings.According to central bank da...Reuters
9 hours ago
Trump deflects blame for economy contraction, says to be patient
WASHINGTON, April 30 (Reuters) - U.S. President Donald Trump on Wednesday said the contraction in the U.S. economy had nothing to do with his tariff wars and predicted the economy would boom when tariffs kicked in."When the boom begins, it will be like no other. BE PATIENT!!!" Trump wrote in...Reuters
10 hours ago
Mexico avoids technical recession but economists see tough path ahead
April 30 (Reuters) - Mexico's economy performed better than expected in the first quarter of the year, preliminary data released by national statistics agency INEGI showed on Wednesday, although analysts continue to warn of a difficult path ahead.Latin America's second-largest economy grew 0...Reuters
10 hours ago