News

Oil Gains on Potential Tighter Russian Sanctions, Algo Buying

(Bloomberg) -- Oil rose on the possibility of tighter sanctions on Russian crude, and algorithmic buying activity extended gains after US inventory data kept prices above a key technical floor. Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersHong Kong's Expat Party Hub Reshaped by Chinese InfluxAmerican Institute of Architects CEO ResignsCity Hall Is HiringCloud Computing Tax Threatens Chicago’s Silicon Valley DreamWest Texas Intermediate climbed 2.5% to settle ab

Argentina inflation hits four-year low as locals dare to hope the worst is over

BUENOS AIRES (Reuters) -Argentina's monthly inflation rate slowed to 2.4% in November, the lowest in over four years, the official INDEC statistics agency said on Wednesday, as locals began to warily hope the worst of a biting economic crisis might be over. The South American nation, facing a tough austerity drive by libertarian President Javier Milei, saw the monthly figure come in well below forecasts of 2.8% and lower than 2.7% a month earlier.

Argentina Inflation Unexpectedly Cools in Another Milei Win

(Bloomberg) -- Argentina’s monthly inflation slowed to the lowest level since July 2020, handing President Javier Milei another victory on voters’ biggest concern a year after taking office.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersAmerican Institute of Architects CEO ResignsHong Kong's Expat Party Hub Reshaped by Chinese InfluxCity Hall Is HiringCloud Computing Tax Threatens Chicago’s Silicon Valley DreamConsumer prices rose 2.4% in November, compared with

BNY CEO optimistic on US economic growth, AI potential

NEW YORK (Reuters) -BNY expects a U.S. economic growth boost under the new Donald Trump U.S. presidency and is investing in artificial intelligence and services for digital assets to enhance solutions for its clients, CEO Robin Vince said on Wednesday. "Growth is good for the U.S. economy and President-elect Trump has been very clear that he believes in growth," he said during an interview at the Reuters NEXT conference in New York. "We're pro-growth ... our clients want to be able to take advantage of the opportunities here," he added.

US inflation ticked up last month as some price pressures remain persistent

Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Excluding volatile food and energy costs, so-called core prices increased 3.3%, the same as in the previous month. Measured month to month, prices climbed 0.3% from October to November, the biggest such increase since April.