Citi upgrades India to "overweight" citing stable earnings, economic growth
By Bharath Rajeswaran BENGALURU (Reuters) - Citigroup analysts upgraded India to "overweight" from "neutral" in their emerging markets allocation on Friday, citing strong earnings and economic growth momentum. The brokerage expects India's blue-chi...
May 10, 2024
Futures rise ahead of data, speeches from Fed officials
(Reuters) - U.S. stock index futures rose on Friday with focus on speeches from Federal Reserve officials, after economic data this week supported bets of U.S. interest rate cuts and lifted investor sentiment. Wall Street indexes were back in sight...
May 10, 2024
Column-Forget market angst, just 'KISS' and make up: Mike Dolan
By Mike Dolan LONDON (Reuters) - Worried about a hawkish Fed, over-valued stocks, teetering debt piles, volatile currencies, cliffhanger elections or rancorous geopolitics? Relax and don't over-think it. For those with long-term savings horizons, t...
May 10, 2024
Morning bid: May rescued by jobless jump, BoE shift, HK surge
A look at the day ahead in U.S. and global markets from Mike Dolan World stock indexes have shaken off a month of doubts to come back within 0.5% of record highs on signs of a loosening U.S. labor market, falling European interest rates and another Hon...
May 10, 2024
Fed's Bostic says economy likely slowing, though rate-cut timing uncertain
By Howard Schneider WASHINGTON (Reuters) - The U.S. central bank likely remains on track to cut interest rates this year even if the timing and extent of the policy easing is uncertain and further declines in inflation come only slowly, Atlanta Fed...
May 10, 2024
US auto regulator opens probe into over 200,000 Ford vehicles
(Reuters) - The U.S. auto safety regulator said on Friday it was opening a preliminary evaluation into 210,960 Ford vehicles following complaints alleging diesel fuel leaks that may result in a fire. A preliminary evaluation is the first step to de...
May 10, 2024
US auto regulator opens preliminary evaluation into Fisker's Ocean vehicles
(Reuters) - The U.S. auto regulator on Friday opened a preliminary evaluation into about 6,813 Fisker's Ocean vehicles over reports of inadvertent activation of the automatic emergency braking system. (Reporting by Abinaya Vijayaraghavan in Bengal...
May 10, 2024
China's April car sales swing to contraction despite NEV milestone
BEIJING (Reuters) - China's car sales fell 5.8% in April from a year earlier, industry data showed on Friday, as a ferocious price war and incentives failed to shake off consumers' caution about spending on big items during a shaky economic recover...
May 10, 2024
Porch sues China Construction Bank in US over reinsurance fraud losses
(Reuters) - U.S. insurance and home inspection software provider Porch Group is suing China Construction Bank Corp (CCB), the country's third-biggest lender by assets, for allegedly enabling a "massive fraud" that caused "monumental losses" for Por...
May 10, 2024
Japan economy expected to shrink in Q1 due to weak consumption - Reuters poll
By Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy likely contracted an annualised 1.5% in the January-March quarter as all key drivers of growth slumped due to an uncertain outlook, a Reuters poll showed, which will probably set back Bank of J...
May 10, 2024
Take Five: Go your own way
(Reuters) - Global central banks are starting to break away from the pack as rate cuts roll out across Europe while borrowing costs in the U.S. may stay higher for longer, which is lifting the dollar. A key test of U.S. inflation is at the heart of...
May 10, 2024
UK exits recession with better-than-expected 0.6% GDP growth
By Suban Abdulla and David Milliken LONDON (Reuters) -Britain's economy grew by the most in nearly in three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Mini...
May 10, 2024
European shares open at record high on boost from energy stocks, miners
(Reuters) - European shares opened at a record high on Friday, led by energy companies and miners, setting the benchmark index for its biggest weekly gain since late January on growing interest rate cut bets in the region. The pan-European STOXX 60...
May 10, 2024
Chinese venture capitalists warn IPO freeze will hit innovation
SHANGHAI (Reuters) - Chinese venture capitalists have warned the country's IPO freeze is starving tech startups of funds by keeping market participants locked into existing investments, undermining Beijing's current push to lift innovation in the e...
May 10, 2024
Honda posts six-fold increase in Q4 operating profit
TOKYO (Reuters) - Japan's Honda Motor said on Friday its fourth-quarter operating profit grew more than six fold from a year earlier, helped by a weak yen and strong vehicle sales. Japan's second-biggest automaker by volume saw quarterly operating ...
May 10, 2024
Analysis-Europe sees two-speed IPO recovery as smaller deals lag
By Pablo Mayo Cerqueiro, Andres Gonzalez and Elisa Anzolin LONDON (Reuters) - A string of stock listings this year has infused new life into Europe's anaemic market for initial public offerings, but for some smaller companies it may take longer to ...
May 10, 2024
SoftBank seen returning to loss in Q4 despite tech stock strength
By Anton Bridge TOKYO (Reuters) - Japanese technology investor SoftBank Group is expected to slip back into the red when it reports earnings on Monday despite technology stocks including Arm Holdings, its core asset, performing well over the quarte...
May 10, 2024
Calpers weighs vote against Exxon CEO, FT reports
(Reuters) - Calpers, the U.S.'s biggest public pension plan, is considering a vote against ExxonMobil chief executive Darren Woods' re-election to the company board, the Financial Times reported on Friday. (Reporting by Kanjyik Ghosh;Editing by Ni...
May 10, 2024
BOJ likely eyeing steady rate hikes, says ex-central bank executive Maeda
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) - The Bank of Japan will likely raise interest rates again as early as July and keep hiking borrowing costs next year and beyond if the economy sustains a moderate recovery, former central bank...
May 10, 2024
Morning Bid: Rate cut hopes fan risk rally
A look at the day ahead in European and global markets from Ankur Banerjee Investors are wearing their risk-on hats ahead of the weekend as renewed hopes of monetary easing take hold, a day after the Bank of England opened the door to rate cuts, taking...
May 10, 2024
Australian regulator says Musk's X should not set limits of internet law
By Byron Kaye SYDNEY (Reuters) - Elon Musk's X has policies to take down harmful content when it chooses but should not be allowed to overrule Australian law in deciding what can be viewed there, a lawyer for the cyber regulator told a hearing into...
May 10, 2024
Apple apologizes for iPad Pro 'Crush' ad, Ad Age says
(Reuters) - Apple apologized on Thursday after an advertisement for its latest iPad Pro model sparked criticism by showing an animation of musical instruments and other symbols of creativity being crushed, Ad Age magazine reported. "Our goal is to ...
May 10, 2024
Rio Tinto had considered a bid for BHP-target Anglo American, AFR says
(Reuters) - Mining giant Rio Tinto had considered an offer for British miner Anglo American, which is now BHP Group's $39 billion takeover target, the Australian Financial Review reported on Friday. Rio "management had not ruled out making a play f...
May 10, 2024
Gold set for best week in five on renewed US rate-cut hopes
By Ashitha Shivaprasad (Reuters) - Gold prices firmed on Friday, poised for their best week since April 5, following recent economic data that boosted bets of an interest rate cut from the Federal Reserve. Spot gold gained 0.2% at $2,350.87 per oun...
May 10, 2024
Asia stocks rally on renewed global rate cut optimism
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks rose on Friday, on course for a third week of gains, while the dollar was on the back foot as fresh signs of an easing U.S. labour market stoked optimism around interest rate cuts this year ahead...
May 10, 2024