The European Central Bank may need to raise interest rates in June if the inflation outlook does not improve significantly in the coming weeks, Bundesbank President Joachim Nagel said on Monday.
The U.S. Customs and Border Protection (CBP) agency said on Monday it now estimates the first electronic refunds from U.S. President Donald Trump’s tariffs deemed illegal by the Supreme Court will start as soon as May 12, a day later than an earlier estimate.
The U.S. Treasury said on Monday it expects to borrow $243 billion in the second quarter, $41 billion more than the January estimate largely due to lower cash receipts, partially offset by a higher cash balance at the beginning of the quarter.
The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with duelling maritime blockades, shaking a fragile truce.
French tire giant Michelin reported a 5.4% decline in first-quarter revenue to 6.2 billion euros, as currency headwinds offset otherwise stable business performance in a challenging global environment.
Japan’s factory output unexpectedly fell in March as production tumbled for a range of chemical and petroleum-based goods, data showed on Thursday (Apr 30), suggesting the Middle East conflict is beginning to harm the country’s fragile economy.