2026-02-10 16:23

MILAN, Feb 10 (Reuters) - The European Parliament gave its first major backing to the digital euro on Tuesday, endorsing the European Council's negotiating stance for a central bank digital currency with both online and offline functionality. The endorsement matters because the European Central Bank needs Parliament's legislative approval before it can issue a digital euro, meaning its goal of a 2029 launch depends on lawmakers signing off. Sign up here. The assembly's position marks a shift from earlier parliamentary proposals focused solely on offline payments and signals closer alignment with the ECB on safeguarding the bloc's monetary sovereignty. The ECB has been developing a digital euro to preserve the role of central bank money in an increasingly digital economy and to reduce reliance on non‑European payment providers. Fraying transatlantic relations and growing geopolitical risks have stoked concerns about the fragmentation of EU payments services and the bloc's dependence on U.S. providers such as Visa (V.N) , opens new tab or Mastercard (MA.N) , opens new tab - with some countries lacking altogether a domestic payment network. The project, however, met resistance from bank lobbies in countries such as Germany and progress in parliament stalled, with the draft stuck for more than two years — far longer than the ECB expected. MEPs on Tuesday approved two amendments to parliament's resolution on the ECB's 2025 annual report, calling for a digital euro that ensures equal access to payment services and provides a new form of public money usable both online and offline. Lawmakers also underlined that a digital euro is essential to bolstering EU monetary sovereignty and deepening the single market while reducing fragmentation in retail payments. "These votes are a big win for the progress of the digital euro," said Laura Casonato, head of policy at Positive Money Europe, a not‑for-profit organisation advocating a digital version of cash. "There is now a clear parliamentary majority in favour of an inclusive future form of cash — money in digital form backed by the central bank, making it safe," she said. The parliament also urged the ECB to step up monitoring of crypto‑assets, warning that the shift to digital payments, if left to private and non‑EU providers, risks creating new forms of exclusion for users and merchants. https://www.reuters.com/business/finance/eu-parliament-backs-digital-euro-aligns-with-council-online-offlineready-2026-02-10/

2026-02-10 15:53

WASHINGTON, Feb 10 (Reuters) - The Trump administration won't hamper American companies' access to advanced artificial intelligence chips designed by Nvidia (NVDA.O) , opens new tab, Commerce Secretary Howard Lutnick said on Tuesday. "We agree that demand by American firms is vast for these chips, and we don't want to do anything that stands in their way," Lutnick said at a Senate hearing. Sign up here. https://www.reuters.com/business/media-telecom/us-wont-impede-american-companies-access-nvidia-chips-lutnick-says-2026-02-10/

2026-02-10 13:34

BRASILIA, Feb 10 (Reuters) - Brazilian Finance Minister Fernando Haddad said on Tuesday that the country should consider a new framework for social-assistance spending, similar to the past overhaul that merged several programs into a single cash‑transfer scheme. "What is being discussed is this: with this level of investment in social assistance, wouldn't it make sense to do what President Lula did in 2003? There were many programs, and Bolsa Familia emerged as the overarching umbrella," Haddad said. Sign up here. Speaking at an event hosted by BTG Pactual, Haddad made the remarks when asked about possible measures to strengthen control over public finances. He stressed, however, that no proposal along these lines has been submitted to President Luiz Inacio Lula da Silva. Haddad had previously said he expected to leave the Finance Ministry by the end of this month while discussing with Lula whether he would help draft a re-election platform or run for office in the October general elections. On Tuesday, however, the minister said he met Lula on Monday and was asked to handle additional tasks before leaving the ministry, including what he described as "important matters" with the Justice Ministry in the area of public security. Many in Lula's leftist Workers Party see the race for governor of Sao Paulo, Brazil's richest and most populous state, as a key platform for the president's bid for a fourth non-consecutive term, with Haddad seen as a potential candidate. Haddad also said he sees no reason for Brazil's real interest rate to continue rising, noting that inflation is easing while the benchmark nominal rate remains steady at 15%. "With a real interest rate at this level, you cannot offset it with any amount of primary surplus," he said. Brazil's central bank has already signaled it is likely to begin an easing cycle at its next monetary policy meeting in March. https://www.reuters.com/world/americas/brazils-finance-minister-suggests-new-architecture-social-assistance-spending-2026-02-10/

2026-02-10 13:28

SAO PAULO, Feb 10 (Reuters) - Brazil's annual inflation edged up in January, broadly in line with expectations, while remaining within the official target range, data from statistics agency IBGE showed on Tuesday. Prices in Latin America's largest economy rose 4.44% in the 12 months through January, up from 4.26% the previous month, but still supporting expectations of monetary easing ahead. Economists polled by Reuters expected it to come at 4.43%. Sign up here. Brazil's central bank targets inflation at 3%, plus or minus 1.5 percentage points, and policymakers have maintained a hawkish tone, stressing the need to keep rates steady to bring inflation to the target's midpoint. In its latest monetary policy decision, the central bank kept the benchmark Selic rate at 15%, a near two-decade high, but signaled in the meeting minutes it would begin cutting interest rates in March. "We look for an initial 50bp cut and now expect the Selic (rate) to end 2026 at 12.0%," said Andres Abadia, chief Latin America economist at Pantheon Macroeconomics. While noting that tight financial conditions continued to weigh on activity and inflation, Abadia argued that high public debt and only gradually re‑anchoring expectations called for keeping real rates in restrictive territory. In January alone, consumer prices in Brazil rose 0.33%, also virtually matching the 0.32% expected by economists in the Reuters poll and staying flat compared with December. Transportation was the main driver of January's reading, IBGE said, citing an increase in fuel prices. https://www.reuters.com/world/americas/brazils-annual-inflation-slightly-up-january-still-backing-easing-outlook-2026-02-10/

2026-02-10 12:28

CAPE TOWN, Feb 10 (Reuters) - Botswana plans to ramp up mining exploration, including for critical minerals, as it seeks to diversify beyond diamonds by surveying the roughly 70% of its territory that remains unexplored, mines minister Bogolo Joy Kenewendo said on Tuesday. The Southern African country, long viewed as an African success story, has been hit hard by a prolonged downturn in the global diamond market, driven by economic uncertainty and the growing popularity of lab-grown stones. Sign up here. Diamonds typically account for about one-third of Botswana's national revenue and three-quarters of its foreign exchange earnings. U.S. INTEREST While diamonds will the backbone of the mining sector, Kenewendo said the government was pushing ahead with its plans to widen the mineral base, including into critical minerals. She said a newly launched state-owned exploration company would focus on raising exploration levels. "We were doing more exploration looking for diamonds than looking for other high-value minerals. And now we're going to change that," Kenewendo told Reuters on the sidelines of an African mining conference in Cape Town. "If you've only explored 30% of your country, it really just shows our strong focus on diamonds." "There's a little hesitation from investors to go into exploration. You can lose a lot of money by exploring and not hitting anything," she added. "We want to ensure that we have the right data, we know what's where, so that we can also decide if we want to be investors in that space." Botswana is the world's top diamond producer by value and an emerging copper-mining hotspot. Interest in critical minerals, such as those used in advanced manufacturing, has grown as the world's two biggest economies, the U.S. and China, compete for resources like copper and cobalt. Kenewendo said the U.S. had expressed interest in partnering with Botswana in exploration and mining, but discussions were at an early stage. "We will see how that goes," she said. "We're just engaging in general investments in the mineral space." https://www.reuters.com/world/africa/botswana-expand-exploration-beyond-diamonds-mines-minister-says-2026-02-10/

2026-02-10 12:14

LONDON, Feb 10 (Reuters) - Shell (SHEL.L) , opens new tab CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets. In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall. Sign up here. Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000 to 800,000 boed by 2035, the company and analysts have said. https://www.reuters.com/sustainability/sustainable-finance-reporting/shell-ceo-says-oil-major-does-not-have-buy-assets-anytime-soon-2026-02-10/