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Canada's Champagne says G7 ministers not 'skating around' tariff issue

BANFF, Alberta, May 22 (Reuters) - Canada's Finance Minister François-Philippe Champagne said on Thursday that the discussions on tariffs did come up during a G7 finance leaders' meeting, even though there was mention of them in the final communique that was published.

May 22, 2025 - 6:08 PM

Canadian dollar steadies ahead of retail sales data

TORONTO, May 22 (Reuters) - The Canadian dollar steadied against its U.S. counterpart on Thursday as the greenback notched broad-based gains and ahead of domestic retail sales data that could offer further clues on prospects of the Bank of Canada remaining on hold.The loonie was trading nearly unchanged at 1.3865 per U.S. dollar, or 72.12 U.S. cents, after trading in a range of 1.3847 to 1.3889.

May 22, 2025 - 5:33 PM

Fed's Perli encourages firms' use of Standing Repo Facility

NEW YORK, May 22 (Reuters) - A Federal Reserve Bank of New York official responsible for implementing monetary policy said on Thursday the central bank is encouraging usage of a key liquidity tool that thus far has been largely dormant.

May 22, 2025 - 5:28 PM

Bank of Canada head expects Q2 GDP to be 'quite a bit weaker' than Q1

May 22 (Reuters) - Bank of Canada Governor Tiff Macklem on Thursday said he expected second quarter growth to be "quite a bit weaker" than the first quarter, citing sluggish investment and the effect of U.S. tariffs.

May 22, 2025 - 5:11 PM

Freeport Indonesia says Manyar smelter resumes operations after fire

Copper miner Freeport Indonesia said its $3.7 billion Manyar smelter in East Java has resumed operations earlier than anticipated after a fire took it offline last year, and is expected to produce copper cathode by the fourth week of June.CEO Tony Wenas said in a statement on Thursday the plant was expected to reach full production capacity by December. A fire damaged the plant last October.Wenas said production had been expected to resume in June, but the repairs were completed ahead of schedule.

May 22, 2025 - 5:00 PM

Mali hearing on Barrick’s Loulo-Gounkoto mines postponed to June 2

A Malian court has postponed for the second timea hearing on whether to place Barrick Mining’s Loulo-Gounkoto gold mine under provisional administration to restart operations, the presiding judge said on Thursday.The state had requested the adjournment until June 2, Judge Mahamadou Tipou Keita told Reuters.Mali’s government has asked the local court to appoint a provisional administrator to take over Barrick’s mine, which it suspended in January over the alleged nonpayment of taxes. Barrick has denied those charges.

May 22, 2025 - 4:47 PM

US labor market stable in mid-May; slowdown is looming due to tariffs

WASHINGTON, May 22 (Reuters) - The number of Americans filing new applications for unemployment benefits fell last week as companies hoard labor, suggesting the economy maintained a steady pace of job growth in May, but it is becoming harder for those out of work to find new opportunities.

May 22, 2025 - 2:19 PM

Nornickel says board recommends no dividends for 2024

Russia’s Nornickel, one of the world’s largest producers of nickel and the largest producer of palladium, said on Thursday that its board recommended not to pay dividends for 2024.The company said the decision was “made in order to maintain financial stability”.(By Anastasia Lyrchikova and Gleb Bryanski; Editing by Kirsten Donovan)

May 22, 2025 - 2:16 PM

Head of BHP’s Escondida mine says Chile must do more to spur investment

Chile needs to make greater regulatory and legal changes to boost investment, Alejandro Tapia, head of Escondida, the world’s largest copper mine, said on Thursday at ChileDay investment conference in New York.Chile is the world’s largest copper producer, accounting for nearly a quarter of the world’s global supply in 2024. Miners have complained about the country’s regulatory process and delays.As ore grades drop around the country and global demand increases, large-scale investment is needed to boost output and help offset global shortages.

May 22, 2025 - 2:14 PM

Neo Performance Materials exits separation facilities in China

Neo Performance Materials said on Thursday it has exited its China separation facilities, as the Canadian rare earths company aims to reduce geopolitical risk and price volatility while expanding in Europe and North America.The exit concludes a strategic review it launched last year.The company said it sold its majority stakes in two Chinese separation facilities, the value of which was not disclosed.

May 22, 2025 - 2:13 PM

Global bond markets signal governments must pay more to borrow long-term

SINGAPORE/LONDON, May 22 (Reuters) - From ho-hum debt auctions to plunging long-term bond prices, investors are sending a clear message to governments that in the current climate of uncertainty they need to pay more to borrow for decades ahead.

May 22, 2025 - 1:05 PM

US dollar modestly recovers, but sentiment still tense; euro wobbles

NEW YORK/LONDON, May 22 (Reuters) - The U.S. dollar advanced on Thursday after three days of losses, as the House of Representatives narrowly passed President Donald Trump's bill for huge tax and spending cuts, even as the euro stumbled after data painted a bleak economic picture for the euro zone.Bitcoin , meanwhile, pushed to a new all-time high, partly as investors sought out alternatives to U.S. assets

May 22, 2025 - 12:46 PM

US Treasuries sell-off remains orderly, IMF says

NEW YORK, May 22 (Reuters) - The U.S. Treasury market remains orderly and U.S. government bonds remain liquid safe-haven assets, a spokesperson at the International Monetary Fund said on Thursday, adding the Fund was monitoring tax plans taking shape in Congress.

May 22, 2025 - 12:02 PM

G7 draft pledges tackling 'excessive imbalances' in global economy, Bloomberg News reports

May 22 (Reuters) - Finance ministers and central bank governors from the Group of Seven nations pledged to address "excessive imbalances" in the global economy, Bloomberg News reported on Thursday, citing a draft communique.

May 22, 2025 - 10:53 AM

Fed's Waller sees path to rate cuts later this year, Fox Business reports

NEW YORK, May 22 (Reuters) - U.S. Federal Reserve Governor Christopher Waller said on Thursday he still sees a path to rate cuts later this year, in comments that observed market pricing levels show investors are worried current Republican budget plans are not doing enough to deal with the deficit.

May 22, 2025 - 10:32 AM

S&P 500 slightly down after Trump's 'big, beautiful' tax bill wins House vote

May 22 (Reuters) - The benchmark S&P 500 edged lower in choppy trading on Thursday after the U.S. House of Representatives voted to pass President Donald Trump's tax bill, which is expected to burden the country with trillions of dollars in extra debt, by a razor-thin margin.If what Trump has described as a "big, beautiful bill" becomes law, it is expected to add about $3.8 trillion to the federal government's $36.2 trillion debt in the next decade, according to the nonpartisan Congressional Budget Office.

May 22, 2025 - 10:21 AM

Gold prices ease from two-week high as dollar edges higher

May 22 (Reuters) - Gold slipped on Thursday after hitting a nearly two-week high earlier in the session, hurt by an uptick in the dollar, although worries over the U.S. government's increasing debt burden and fiscal outlook kept prices above $3,300 level.Spot gold was down 0.3% at $3,303.82 an ounce, as of 1020 GMT, after hitting its highest level since May 9 earlier in the session.U.S. gold futures fell 0.3% to $3,304.10.

May 22, 2025 - 9:52 AM

Wall St set for lower open after Trump's tax bill narrowly clears House test

May 22 (Reuters) - Wall Street's main indexes were on track for a lower open on Thursday after the U.S. House of Representatives passed President Donald Trump's tax bill, which is expected to burden the country with trillions in debt, by a razor-thin margin.If the bill becomes law, it is expected to add about $3.8 trillion to the federal government's $36.2 trillion debt in the next decade, according to the nonpartisan Congressional Budget Office.

May 22, 2025 - 9:49 AM

With inflation nearly tamed, ECB keen to project stability, accounts show

FRANKFURT, May 22 (Reuters) - The Euro zone inflation shock is nearly defeated and even if a global trade war could push up prices later on, projecting stability in turbulent times was key, ECB policymakers argued when they cut interest rates in April, the accounts of their meeting showed.

May 22, 2025 - 9:44 AM

Plan to beef up Fed forecasts hits hurdle among its regional presidents

AMELIA ISLAND, Florida, May 22 (Reuters) - A proposal for the U.S. Federal Reserve to release detailed economic forecasts after some of its meetings to anchor the discussion of monetary policy is drawing fire from the heads of its regional banks who worry it will be hard to agree on a common outlook and risks further confusing the public.

May 22, 2025 - 9:13 AM

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