Author: Press Room

© REUTERS The escalating conflict in the Middle East could have significant impacts on global commodity prices, according to the World Bank’s October 2023 Commodity Markets Outlook report. The Washington-based institution warns of potential hikes in oil and commodity prices if the Israel-Hamas conflict expands across the region. The report suggests that supply disruptions could cause a ripple effect on the global economy and exacerbate food insecurity. In a small disruption scenario, similar to the Libyan civil war in 2011, the global oil supply would decrease by 500,000 to 2 million barrels per day, leading to an initial oil price…

Murata Manufacturing reports 1H results

On Tuesday, the Nigerian naira showed a significant appreciation of 21.81%, closing at an official rate of N815.32/$1, up from N993.82/$1 the previous day. This change was accompanied by intraday figures that ranged between a high of N998.00/$1 and a low of N6475.00/$1, marking a spread of N523/$1. Despite this appreciation, Tuesday also saw a substantial decrease in forex turnover by 66.01% to $881.31 million. The black market also experienced a 2.54% depreciation with rates of N1180/$1 and peer-to-peer traders at N1165.23/$1. Data from FMDQ revealed that the black market exchange rate for the naira remained stable on Wednesday following…

CNN  —  Speaker of the House Mike Johnson closely collaborated with a group in the mid-to-late 2000s that promoted “conversion therapy,” a discredited practice that asserted it could change the sexual orientation of gay and lesbian individuals. Prior to launching his political career, Johnson, a lawyer, gave legal advice to an organization called Exodus International and partnered with the group to put on an annual anti-gay event aimed at teens, according to a CNN KFile review of more than a dozen of Johnson’s media appearances from that timespan. Founded in 1976, Exodus International was a leader in the so-called “ex-gay”…

CHINA – 2023/02/15: In this photo illustration, the American multinational consumer goods company … [+] Procter & Gamble (P&G) logo is seen displayed on a smartphone with an economic stock exchange index graph in the background. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Procter & Gamble PG (NYSE: PG) recently reported its Q1’24 results (P&G’s fiscal ends in June), with revenues and earnings beating the street estimates. However, we believe PG stock has little room for growth, as discussed below. The company reported revenue of $21.9 billion and adjusted earnings of $1.83 per share,…

A view of downtown Charlotte, which has become one of the fastest growing cities in the U.S. and … [+] hotspot for housing activity.getty Charlotte, North Carolina, is one of the hottest spots in the United States. From 1990 to 2000, its population grew by 36.6%: From 395,934 people to 540,828. From 2000 to 2010, it surged by another 35.2%: From 540,828 to 731,424 people. And though less but still impressive, from 2010 to 2020, Charlotte’s population grew by almost one-fifth, from 731,424 people to 874,579. All this growth has not coincidentally led to a major surge in housing market…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Fintech Atom has taken a valuation hit after raising more than £100mn from existing investors as the sector grapples with higher interest rates and weaker investor sentiment.The digital bank raised the equity from Spanish bank BBVA, private equity firm Toscafund and London-based Infinity Investment Partners, three of its longstanding shareholders.A person close to the company said the funding round valued the challenger bank at £362mn, down from a previously reported £435mn at the start of last year. The valuation cut is the…

© Reuters. A Tesla vehicle is charged at a Tesla supercharging station in Kettleman City, California, U.S., January 25, 2023. REUTERS/Mike Blake/File photo (Reuters) -More automakers signed up to access Tesla (NASDAQ:)’s electric-vehicle charging infrastructure across the United States, taking the Elon Musk-led company’s superchargers closer to becoming the industry standard. Texas has approved a plan to require EV charging companies to include Tesla’s plug if they want to be eligible for federal funds. Tesla’s North American Charging Standard is more widely available and reliable than rival charging network CCS, which is backed by automakers such as Volkswagen (ETR:) and…

© Reuters. Today, the S&P/TSX Composite Index in Canada closed up by 16.71 points or 0.09% at 18,873.47, despite a decline in metals and utilities stocks, according to Greg Taylor from Purpose Investments. Meanwhile, U.S. markets also experienced growth with the rising by 123.91 points, the increasing by 26.98 points, and the gaining 61.76 points. This surge in U.S. markets comes ahead of Apple (NASDAQ:)’s Q3 earnings release and crucial upcoming payroll data that may influence central bank decisions. Statistics Canada reported a flat economy with a slight contraction in Q3, while the Bank of Canada maintained its key rate…

© Reuters. Ingots of 99.98 percent pure platinum are placed in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. REUTERS/Alexander Manzyuk/File photo By Harshit Verma and Polina Devitt LONDON (Reuters) – Analysts and traders have lowered their price forecasts for platinum and palladium in 2024 due to weak auto production and concerns about a global economic slowdown, a Reuters poll showed on Wednesday. The two sister metals are used primarily by automakers, which embed them in engine exhausts to reduce emissions. Platinum is also used in other industries, jewellery,…