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TORONTO (Reuters) – Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank left its key interest rate on hold at a 15-year high of 4.50%. MACKLEM ON NEEDING A PERIOD OF WEAK GROWTH “I would remind you that we actually need a period of weak growth. We need growth to be […]

BRUSSELS (Reuters) -The European Commission on Wednesday said U.S. chipmaker Broadcom’s proposed $61 billion takeover of cloud computing company VMware could restrict competition in the market for certain hardware components. The Commission said it had informed Broadcom of its objection that the deal could restrict competition in the global markets for the supply of so-called fibre channel host bus adapters (FC HBAs) and storage adapters, by limiting access for competitors’ […]

OTTAWA, April 12 (Reuters) – Interest rates in Canada may have to stay restrictive for longer to ensure inflation declines to the Bank of Canada’s 2% target, Governor Tiff Macklem said on Wednesday. Macklem, speaking after the bank announced that it was holding its key rate at 4.50%, said the central bank’s governing council had discussed whether rates had been raised enough. Macklem said that while the bank was encouraged […]

(Reuters) -The Federal Reserve has more work to do in bringing inflation back down to its 2% target because the latest data on price pressures is not sufficiently weak, Richmond Fed President Thomas Barkin said on Wednesday. His comments came soon after a key government report showed U.S. consumer prices barely rose in March as gasoline prices fell but stubbornly high rents kept underlying inflation pressures simmering. “It was pretty […]

RIYADH (Reuters) – Syria’s Foreign Minister Faisal Mekdad arrived in Saudi Arabia on Wednesday, state media said, in a major signal that Syria’s decade-long regional isolation is nearing an end. Mekdad landed in the Saudi Red Sea city of Jeddah following an invitation from his Saudi counterpart Prince Faisal bin Farhan Al Saud, the Saudi foreign ministry said in a statement. It is the first visit by a senior Syrian […]

MEXICO CITY (Reuters) -The head of Mexico’s immigration agency, Francisco Garduno, is under investigation over a deadly fire last month at a migrant detention center in the northern border city of Ciudad Juarez, President Andres Manuel Lopez Obrador said on Wednesday. The Mexican attorney general’s office said on Tuesday it had launched a probe against the heads of the National Migration Institute (INM), without giving their full names. “There’s an […]

(Reuters) – Scottish Rugby will lower the tackle height to “below the sternum” in community rugby matches from next season on a trial basis, the governing body said on Wednesday. The trial follows last month’s recommendations from World Rugby, which encouraged member unions to join a global trial of lowering tackle height. “Scottish Rugby’s Rugby Development department were commissioned by the Club Rugby Board to conduct a series of online […]

BRUSSELS (Reuters) – The European Commission on Wednesday said the proposed $61 billion takeover by U.S. chipmaker Broadcom of cloud computing company VMware could restrict competition in the market for certain hardware components. The commission said it had informed Broadcom of its preliminary view, which is the result of an in-depth investigation of the takeover that was opened late last year. Broadcom now has the opportunity to reply to the […]

By Sheila Dang (Reuters) – Snap Inc, owner of photo messaging app Snapchat, said on Wednesday it has hired a former Google executive to help the tech company improve the performance of its digital ads. Darshan Kantak, who previously led product management for search ads at Alphabet Inc’s Google, joins Snap as senior vice president of revenue product. Before Google, Kantak worked at Facebook-owner Meta Platforms Inc and Microsoft Corp. […]