Bloomberg Wall Street is pushing back against the Federal Reserve’s tougher tone on raising interest rates, as strategists see the bond market warning of potential consequences. Treasuries staged their biggest weekly decline since November after minutes from the Fed’s April meeting rekindled wagers that policy makers will raise rates as soon as next month. The dollar soared and bond-market ...

  Bloomberg Brazil’s new economic team projects the largest budget deficit before interest payments on record this year, underscoring the challenge Acting President Michel Temer will face in turning around Latin America’s biggest economy. Temer’s administration will submit a bill that would allow it to report a primary budget gap of 170.5 billion reais ($48.4 billion) in 2016, Finance Minister ...

  Bloomberg Deere & Co., the world’s biggest agricultural equipment manufacturer, cut its fiscal full-year earnings outlook as lower commodity prices hurt farmers’ income and a glut of unsold machinery continues to pile up at dealerships. Full-year net profit will be about $1.2 billion in the year through October, Moline, Illinois-based Deere said in a statement Friday, compared with the ...

  Bloomberg Mexico’s financial stability is hanging in the balance as the peso’s tumble prompts a dangerous acceleration in outflows from the nation’s bonds, according to BNP Paribas SA. A pullback by foreigners is particularly worrisome for authorities, who have often cited peso bond holdings by international investors as a sign of stability. Central bank policy makers will now have ...

  Bloomberg General Motors Co. will spend about $100 million to reimburse customers who bought 2016 Chevrolet Traverse, GMC Acadia and Buick Enclave sport utility vehicles with overstated fuel economy figures, said a person familiar with the matter. Fuel economy was overstated by 1 to 2 miles per gallon because the company failed to reflect new emissions-related hardware in calculations ...

  Paris / Bloomberg If the sudden disappearance of an EgyptAir flight turns out to be the work of terrorists, it will be the fourth such attack in the past year on air travelers in North African countries battling militant groups. Even as airports in Europe and North America have strengthened security, experts say that gaps in screening of employees ...

  Berlin / AFP The head of Germany’s doctors’ association has lashed out at both Lufthansa and aviation regulators for failing to prevent last year’s Germanwings crash by allowing a pilot who suffered from severe depression to fly. Andreas Lubitz deliberately crashed flight A320 in the French Alps in March 2015, killing himself and the 149 others on board. Investigators subsequently ...

Paris / AFP France will test an EU-wide passenger data sharing system aimed at helping to detect extremists at two of its busiest airports later this month, a senior interior ministry official said on Saturday. The Passenger Name Record system, approved by the European Parliament in April, will be tested at Paris’s Charles de Gaulle airport and that of southeastern Nice ...

  New York / AFP Retail group Gap Inc. said it would shutter 75 stores this year amid sagging sales, including 53 of its kids-focused Old Navy brand outlets in Japan. Announcing a fall in first quarter earnings, the San Francisco-based retailer also warned that it might not achieve previous earnings forecasts for this year given the headwinds buffeting the apparel ...

  Washington / AFP An experimental, solar-powered aircraft took off from Tulsa in the midwestern US state of Oklahoma early on Saturday, kicking off the latest phase of its record-breaking quest to circle the globe without consuming a drop of fuel. Swiss businessman Andre Borschberg, who has teamed up with adventurer Bertrand Piccard for the Solar Impulse 2 project, piloted the ...