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Fed's Collins says rate hikes may be needed to quell inflation

Fed's Collins says rate hikes may be needed to quell inflation

By Michael S. Derby May 13 (Reuters) - Boston Federal Reserve President Susan Collins said on Wednesday the U.S. central bank may need to raise interest rates if inflation pressures do not abate.

UAE and Saudi Arabia Conduct Covert Strikes Against Iran Amid Rising Tensions

UAE and Saudi Arabia Conduct Covert Strikes Against Iran Amid Rising Tensions

The United Arab Emirates (UAE) and Saudi Arabia have reportedly conducted covert military strikes against Iran, marking a significant escalation in regional tensions. According to reports from The Wall Street Journal and Reuters, the UAE targeted an Iranian oil refinery on Lavan Island, while the Saudi Air Force conducted strikes in late March. These actions represent the first known offensive measures by Gulf states against Iran since the U.S. and Israel initiated strikes that triggered the Iran war in February. Analysts suggest these moves indicate a hardening stance by the UAE and Saudi Arabia towards Iran, potentially increasing the risk of retaliation from Tehran and broader instability in the Gulf region.

World markets feel the strain as US–Iran war grinds on

World markets feel the strain as US–Iran war grinds on

By Karin Strohecker and Dhara Ranasinghe LONDON, May 12 (Reuters) - From a rout in Asian currencies to the closure of a low budget U.S. airline, the dragging Middle East conflict is starting to bite across the globe and test the resilience of financial markets.

China's April producer inflation at 45-month peak on energy price shock

China's April producer inflation at 45-month peak on energy price shock

BEIJING, May 11 (Reuters) - China's producer prices surpassed expectations in April to hit a 45-month high, while consumer inflation also accelerated as global energy costs remained elevated, piling more pressure on manufacturers already grappling with weak demand at home.

U.S. stock futures subdued as talks with Iran stall

U.S. stock futures subdued as talks with Iran stall

May 11 (Reuters) - Wall Street futures were subdued on Monday, taking a breather after a record rally last week, as investors fretted over signs of stalled talks between the United States and Iran that pushed oil prices higher. U.S.

Brazil's April inflation matches forecasts despite growing external risks

Brazil's April inflation matches forecasts despite growing external risks

SAO PAULO, May 12 (Reuters) - Brazil's inflation was in line with market expectations in April, official data showed on Tuesday, with the 12-month rate remaining within the central bank's target range even as policymakers warn of risks from the Middle East conflict.

HSBC raises 2026 Brent price forecast to $95 per barrel

HSBC raises 2026 Brent price forecast to $95 per barrel

May 12 (Reuters) - HSBC raised its 2026 average Brent price forecast to $95 a barrel last week, citing a longer effective closure of the Strait of Hormuz.

Italy industry output posts solid gain in March as Iran war impact awaited

Italy industry output posts solid gain in March as Iran war impact awaited

ROME, May 12 (Reuters) - Italian industrial output rose by 0.7% in March compared to the previous month, data showed on Tuesday, offering some hope to the country's long-struggling manufacturing sector, although output in the first quarter still contracted slightly from the previous three months.

Exclusive-Saudi Arabia launched covert attacks on Iran as regional war widened - sources

Exclusive-Saudi Arabia launched covert attacks on Iran as regional war widened - sources

By Timour Azhari and Parisa Hafezi RIYADH/DUBAI, May 12 (Reuters) - Saudi Arabia launched numerous, unpublicized strikes on Iran in retaliation for attacks carried out in the kingdom during the Middle East war, two Western officials briefed on the matter and two Iranian officials said.

US standoff with Iran deepens and strait remains closed after Trump rejects latest proposal

US standoff with Iran deepens and strait remains closed after Trump rejects latest proposal

The United States and Iran are in a deepening standoff after U.S. President Donald Trump rejected Tehran’s latest offer to end the war

Iran and the US are at an impasse ahead of Trump's China trip

Iran and the US are at an impasse ahead of Trump's China trip

Iran and the United States have reached an impasse again over how to end their war

Lebanon urges US to put pressure on Israel to stop attacks and demolitions

Lebanon urges US to put pressure on Israel to stop attacks and demolitions

BEIRUT, May 11 (Reuters) - Lebanon's president has urged the United States to put pressure on Israel to cease fire and stop home demolitions in south Lebanon, the presidency said on Monday, as the death toll from Israeli attacks rose.