Author: Press Room

The share of US consumers who plan to visit a foreign country in the next six months is at a record high.Apollo said the strong demand in consumer services means inflation could be difficult to contain.”The bottom line is that rates will stay higher for longer because the Fed is still trying to get non-housing service sector inflation under control.” Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Our Chart of the Day is from Apollo, which shows that the share of US consumers…

Stay informed with free updatesSimply sign up to the Media myFT Digest — delivered directly to your inbox.Lloyds Banking Group is considering an offer by the Barclay family to repay all the £1.1bn in debt behind the Telegraph Media group in a move backed by RedBird IMI, the media and sports investment group run by former CNN boss Jeff Zucker.RedBird IMI, which is in part funded by the Abu Dhabi-based International Media Investments group, has offered to help finance a deal alongside the Abu Dhabi royal family, according to two people close to the talks.Success would halt the auction for…

KUALA LUMPUR – Malaysia’s economy is poised for a 4-5% GDP growth this year, as stated by Bank Negara Malaysia Governor Datuk Shaik Abdul Rasheed Abdul Ghaffour. Today’s announcement highlighted the nation’s economic resilience, underlined by strong domestic demand and a diversified economic structure. Key sectors like the automotive industry have shown positive trends, contributing to the overall private consumption that drives the forecasted growth. The Malaysian economy demonstrated a solid performance with a year-over-year (YoY) increase of 3.3% in the third quarter of 2023, despite facing external headwinds and weakened exports. The central bank’s report revealed that lower costs…

© Reuters. OTTAWA – Foreign investors have stepped back from Canadian securities, divesting a net total of C$15.09 billion, driven by a significant sell-off in bonds as long-term interest rates hit their highest point since December 2007, according to the latest data from Statistics Canada. This move marks a shift in the investment landscape, reflecting global economic pressures and market responses. On Friday, it was reported that this retreat was particularly pronounced in the bond market, where non-residents reduced their holdings substantially. However, it wasn’t all outflows; foreign investors showed renewed interest in Canadian stocks, purchasing C$1.62 billion worth of…

© Reuters. WASHINGTON – US West Texas Intermediate (WTI) crude prices tumbled to $72.90, as the latest data revealed a significant inventory build coupled with a record surge in crude production. The Energy Information Administration (EIA) reported on Thursday that for the week ending November 10th, crude production reached an all-time high of 13.2 million barrels per day. The stockpile increase of 3.6 million barrels pushed total domestic stocks to 439.4 million barrels, slightly above last year’s figures but still below the five-year average. Notably, the Cushing terminal saw supplies jump by 1.9 million barrels, marking the largest increment since…

DNY59 Shares of MAIA (NYSE:MAIA) were down 20% midday Friday, the day after the company said it has issued a warrant to Alumni Capital to purchase up to 239K common shares at the exercise price of $2.09 per share. MAIA said in an SEC filing late Thursday that the warrant was exercisable for up to four years as of Nov. 10, subject to certain vesting conditions. Shares of MAIA fell Wednesday after the company announced in an SEC filing that it had terminated an agreement with Think Equity for an at-the-market equity offering program with an aggregate offering price of…

Just before hard-right House Republicans staged a floor mutiny over spending on Wednesday that sent lawmakers home early for their Thanksgiving break, they managed one final vote, on a measure to reduce the salary of an obscure Biden administration official to $1.It was the 25th time in the three weeks since Speaker Mike Johnson was elected to the top post — and at least the 31st time this year — that Republicans have spent time on the House floor using a spending bill to try to strip the salary of a member of President Biden’s team.On Wednesday, the would-be victims…

Money is pouring into artificial intelligence — which means more jobs in the space. Companies across industries have ramped up their efforts to hire workers who know how to use AI. This article is part of the “5 Trends to Bet Your Career On” series. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Artificial intelligence may have experienced the rapid escalation that characterizes a bubble — but there are no signs that it’s going to burst.Within two months of OpenAI launching its AI chatbot ChatGPT last November,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sir Jim Ratcliffe is closing in on a roughly $33-per-share deal with the Glazer family that would see the British tycoon buy about 25 per cent of Manchester United.If agreed, the deal would value the Premier League club at about $5.4bn and implies an enterprise value of more than $6bn including debt based on the existing number of shares in issue. It would mark the most significant ownership change for the 20-times English football champions since the club’s initial public offering in…

NEW YORK – In light of recent economic indicators pointing towards reduced inflationary pressures, the Federal Reserve has hinted at a potential pause in interest rate hikes. Michael Barr, speaking at an event hosted by The Clearing House with Bloomberg’s Tracy Alloway and Joe Wiesenthal in attendance, suggested that the current economic readings are aligning with the Fed’s goal of achieving a 2% inflation target. This development comes as investors are setting their expectations for no change in the interest rates, currently ranging between 5.25% and 5.5%, at the upcoming Fed meeting next month. The sentiment for a steady policy…