Author: Press Room

In an effort to counteract persistent inflation, European central banks have swiftly increased borrowing costs. This move comes in response to the geopolitical event of Russia’s attack on Ukraine, which has had a significant impact on the region’s economy. The International Monetary Fund (IMF) predicts that these measures will lead to a “soft landing” for Europe’s economy, despite a slowdown in GDP growth. The IMF projects that Europe’s GDP growth will slow to 1.3% in 2023 before experiencing a minor recovery to 1.5% in 2024. Emerging European economies are witnessing rising wages, stimulating economic recovery. However, the IMF warns that…

© Reuters. In recent developments, Credit Bureau Asia Limited has seen a notable level of institutional interest, despite the absence of hedge fund ownership. The company’s insider stakeholders, led by CEO Chiang Koo and Senior Key Executive Wah Liang Lim, hold a significant 71% stake, giving them substantial influence over the company’s future trajectory. The company’s institutional investors include abrdn plc, which holds a 4.6% stake in Credit Bureau Asia. The collective views of these investors can potentially cause a swift shift in the share price. Despite no hedge fund involvement, the company’s position in major indexes and its earnings…

Investing.com– Gold prices moved little in Asian trade on Wednesday, but were nursing steep losses over the past two sessions as hawkish comments from Federal Reserve officials saw traders reconsider expectations for more interest rate hikes.  This put an upcoming speech by Fed Chair Jerome Powell squarely in focus, after his comments at a meeting last week were seen as somewhat less hawkish by markets. Gold saw some gains in the past week after the Fed meeting and a softer-than-expected reading pushed up hopes for an end to the central bank’s rate hike cycle. But several Fed officials downplayed expectations…

JodiJacobson/E+ via Getty Images Alpha Metallurgical Resources (NYSE:AMR) +6.2% post-market Tuesday after it was selected for S&P SmallCap 600 index, effective before the opening of trading November 10. The stock will replace Avid Technology, which is being acquired by Symphony Technology Group. Alpha Metallurgical (AMR) had fallen 5.1% in Tuesday’s regular trading after Chinese customs data showed October coal imports fell 14.6% compared to September. Lower domestic coal prices and higher overseas prices hit profits for importers, and coal demand in China was slowed by unseasonably warm weather for much of October and soaring power plant stocks. Other coal companies…

© Reuters. Paramilitary police officers stand guard in front of the headquarters of the People’s Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo BEIJING (Reuters) – China will resolutely guard against overshooting risks of the yuan exchange rate, People’s Bank of China (PBOC) Governor Pan Gongsheng said, according to a report on Wednesday by Financial News, a newspaper owned by the PBOC. The comments come as the has lost more than 5% so far this year to become one of the worst performing Asian currencies, in light of the widening yield differentials…

The race to become Houston’s mayor is heading for a runoff between two longtime Texas Democrats: United States Representative Sheila Jackson Lee and a veteran state senator, John Whitmire, according to The Associated Press. Each emerged from a field of more than a dozen candidates on Tuesday, but neither with a majority of the vote.The runoff election to lead the nation’s fourth-largest city will be held on Dec. 9.Both candidates are in their 70s and have been fixtures of Texas politics for many years. Mr. Whitmire, a prolific fund-raiser even from Republican donors, has long been considered a front-runner for…

Top-line miss in Q3 distracts from the fact that Great Lakes Dredge & Dock (GLDD) is now poised to return to significant profitability in the periods ahead.Getty Images Great Lakes Dredge & Dock’s (GLDD) earnings announcement had its stock down nearly 14% today. Yet while the revenues of $117.2 million reported for Q3 came in well below the $134.2 million consensus estimate, this was consistent with the company’s expectations for it to be a tough period due to two of its vessels expected to undergo their regulatory drydockings and the idling of some equipment due to market delays from 2022…

Stay informed with free updatesSimply sign up to the Aerospace & Defence myFT Digest — delivered directly to your inbox.South Korean defence companies fear a series of multibillion-dollar arms deals to Poland are being put at risk by an expected change of government in Warsaw.Having agreed binding deals with Korean companies worth a total of $13.7bn for rocket launchers, tanks, self-propelled howitzers and fighter jets, Warsaw is negotiating a second round of contracts to bolster its defences and replace military hardware sent to neighbouring Ukraine.The Polish government, presently led by the rightwing Law and Justice party (PiS), used a special…

© Reuters. FILE PHOTO: European Union (EU) flags fly in front of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, July 8, 2020. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) – Rapid wage growth in the euro zone could keep inflation elevated longer and the European Central Bank should hold interest rates at or near record highs through next year to extinguish price pressures, the International Monetary Fund said on Wednesday. The ECB broke a streak of ten straight rate hikes last month, fuelling market expectations that its next move will be a cut, possibly as soon as April,…

© Reuters. View of an Optus shop in Sydney, Australia November 8, 2023. REUTERS/Kirsty Needham By Byron Kaye SYDNEY (Reuters) – For one talkback radio caller, the first sign something was wrong with Australia’s second-largest internet provider, Optus, came when her cat’s wifi-powered food dispenser failed to serve breakfast at 6:10 a.m. and her pet woke her. For disability pensioner Chris Rogers (NYSE:), who needs painkillers for a knee injury that prevents him from working, the problem became apparent when he drove 30 minutes to the pharmacist and his electronic prescription could not be filled. “Because of the outage it…