Author: Press Room
© Reuters. Precious metals, including gold, experienced a notable surge on Tuesday as the U.S. consumer price index (CPI) for October showed inflation pressures easing more than expected, raising market speculation about a less aggressive Federal Reserve stance on interest rates. The CPI remained unchanged from the previous month and saw a minor annual increase of 3.2%, according to the Bureau of Labor Statistics. This softer inflation data has led to a significant decrease in the value of the dollar and Treasury yields, diminishing the likelihood of another imminent rate hike by the Federal Reserve. As a result, on the…
With CNY 850 billion of MLF loans set to expire this month, the operation resulted in a net CNY 600 billion fresh fund injection into the banking system, the biggest medium-term liquidity injection since 2016. The decision came after China’s banks extended CNY 738.4 billion in new yuan loans in October 2023, the least in three months, compared to CNY 2310 billion in September. The PBoC also pumped CNY 495 billion through a seven-day reverse repurchase operation while keeping borrowing costs unchanged at 1.8%, it said in the statement.Investors now closely watch the meeting between Chinese President Xi Jinping and…
© Reuters. Asian currencies, including the Indian rupee, saw a significant upswing on Wednesday as U.S. consumer price data released the previous day fueled market expectations for a potential Federal Reserve interest rate cut by May 2024. The unchanged consumer prices and the smallest annual rise in underlying inflation in two years have cooled expectations for earlier rate hikes, leading to a buoyant mood across Asian markets. The Indian rupee traded notably stronger against the U.S. dollar, reaching 83.0750 from Tuesday’s 83.3350, marking its best performance in nearly six months. This surge came amidst a broader rally in Asian currencies…
A federal appeals court panel ruled in favor of energy industry groups in an order Tuesday evening requiring the Biden administration to hold a massive offshore oil and gas lease sale without eco restrictions.The 5th Circuit Court of Appeals ruled in the decision that the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) must move forward with Lease Sale 261, a large Gulf of Mexico oil and gas lease sale mandated under the Inflation Reduction Act. The sale was originally scheduled for September, but was postponed after BOEM implemented last-minute environmental restrictions.”Energy independence scored an important win tonight…
In this photo illustration the American online social media, social networking service, and virtual … [+] metaverse company formally known as Facebook (FB), Meta Platforms, logo seen displayed on a smartphone with an economic stock exchange index graph in the background. (Photo Illustration by Chukrut Budrul/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images The regulators are coming for big tech. It’s not what it seems. This is what investors need to know. European regulators outlined in early September the benefits of the Digital Markets Act, a framework designed to curb anti-competitive practices at six tech gatekeepers. The DMA will…
Stay informed with free updatesSimply sign up to the US politics & policy myFT Digest — delivered directly to your inbox.The main US federal government pension fund is to exclude China- and Hong Kong-listed stocks on the recommendation of its adviser, which cited the rising tensions between the world’s two largest economies.The $771bn Federal Retirement Thrift Investment Board said on Wednesday that it would change the benchmark index followed by its international fund. The move will mean a shift away from an index that includes Hong Kong-listed equities.Washington has increasingly limited the range of Chinese companies available to US investors…
3/3 © Reuters. FILE PHOTO: People dressed as Santa and his elves play with children invited to Hamleys toy store, as it announces its’ potential top sellers for the Christmas season, in London, Britain, September 21, 2023. REUTERS/Peter Nicholls/File Photo 2/3 By Richa Naidu and Aishwarya Venugopal LONDON (Reuters) – Santa Claus may not have as much to give this year because hard up shoppers in Europe and the United States are prioritizing food and household staples, global toy makers and industry experts said. Consumers worldwide have struggled to cope with high inflation and sluggish economic growth. The holiday season,…
© Reuters. Baba Food Processing, an agro-food manufacturing company, experienced a mixed debut on the National Stock Exchange (NSE) SME platform today, with its shares opening at the issue price of Rs 76 but subsequently declining by 5% to close at Rs 72.2. Despite this initial dip, the company’s shares still enjoyed a 13% premium over the issue price in the grey market. The initial public offering (IPO), which launched on November 3 with a price band of Rs 72-76, aimed to raise Rs 33 crore through the issuance of approximately 43.42 lakh shares. By Sunday, the offering was heavily…
© Reuters. Investing.com– Gold prices rose on Wednesday as softer-than-expected inflation data fueled bets that the Federal Reserve was done hiking interest rates, while copper prices rose on optimism over some economic resilience in China. The yellow metal extended gains after marking its best intraday rise in over three weeks on Tuesday, as the and fell sharply on the prospect of no more interest rate hikes by the Fed. But bigger gains in gold were still held back by investors pivoting chiefly into risk-heavy assets, with stock and commodity logging stellar gains on Wednesday. Gold prices were also nursing steep…
Gamehost raises dividend by about 33% to CAD 0.04 a share