Economic
Economic
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Dollar down and oil slips as Fed readies rate cuts
Oil fell for a fifth day in a row on demand jitters on Thursday, stocks were subdued in Asia, and the dollar hovered near one-year lows as Federal Reserve minutes signalled that U.S. interest rate cuts are set to begin in a few weeks’ time. The minutes validated bets on a rate cut next month […]
European stocks to gain modestly this year on central bank rate cuts:
European shares will rise modestly by the end of the year thanks to central bank rate cuts, according to strategists polled by Reuters who were nevertheless cautious on their outlook for the region’s biggest companies. The STOXX50E (.STOXX50E), opens new tab euro zone blue chip index is up over 7.7% since the start of this year and […]
Poland’s top court rules central bank head cannot be questioned in parliament
Lawmakers should not be allowed to question Poland’s central bank chief, a top court ruled on Tuesday, setting up a fresh clash between the government and judges it says are political appointees of the previous administration. Prime Minister Donald Tusk’s pro-European coalition has vowed to restore democratic standards critics say were eroded during eight years […]
MSCI reclassifying Argentina could trigger $1 bln of inflows, JPMorgan says
A potential upgrade for Argentina to emerging market status from index provider MSCI could see nearly $1 billion in investor money pour into the country’s stocks, JPMorgan said on Tuesday. MSCI classifies Argentina as a Standalone Market rather than as part of its widely followed suite of emerging market indexes. The index provider relegated Argentina […]
ECB may need to cut rates again in Sept, Rehn says
“The recent increase in negative growth risks in the euro area has reinforced the case for a rate cut at the next ECB monetary policy meeting in September, provided that disinflation is indeed on track,” Rehn said in a speech to the European American Chamber of Commerce in New York. Markets see a 90% chance […]
Saudi Arabia is on a high-stakes mission to buy the world
Back in 2015, MBS became chairman of the sovereign wealth fund established in 1971 by a former king at a time when it was ready to be transformed. A slow-moving cog of the state no more, PIF was ready to become an investment juggernaut with global presence. It’s a task the fast-rising royal hasn’t shied […]
US regional bank deals rise as lenders aim to bolster balance sheets
Regional lenders at the heart of last year’s banking crisis are cutting more deals to shore up their balance sheets and compete with rivals, extending a wave of consolidation in the sector that may attract anti-trust scrutiny. The banks, generally with assets between $10 billion and $100 billion, have struck 38 deals so far this year, compared […]
Lendlease reports $1 billion loss amid strategy shift, regulatory delays
Australia’s Lendlease (LLC.AX), opens new tab on Monday reported a wider annual loss as the real estate developer grappled with the impact of an operational strategy shift and delays in reviewing the sale of community projects. Lendlease, the country’s largest property developer, builder and real estate investor, is looking to retreat from its overseas construction business, freeing […]
Aussie earnings season ‘positive surprise’ so far, but tide could turn, Macquarie says
Australian corporate earnings have been a “positive surprise” amid investor euphoria over estimate-beating margins, but historical trends suggest results could take a turn as the earnings season approaches its end, Macquarie analysts said. Companies have posted better-than-expected margins, often supported by lower tax and interest costs, with most of them outperforming market view so far […]
UBS Asset Management to divest Quantitative Investment Strategies business
UBS Asset Management, part of the UBS Group (UBSG.S), opens new tab, will divest its Quantitative Investment Strategies (QIS) business to Manteio Partners LLC and its affiliates, it said on Friday. The QIS portfolio management team, which oversees funds and mandates worth about $1.5 billion, will transfer to Manteio and operate as a distinct group within […]
