Morning Bid: Rates relief; harvest gloom
A look at the day ahead in European and global markets from Tom Westbrook Gilts and London stocks were poised to catch up with global gains, following Monday's market holiday. Fed Chair Jerome Powell downplaying the risk of rate hikes and weaker-than-e...
1h ago
Asia shares rise on rate cut bets; RBA seen turning hawkish
By Tom Westbrook SINGAPORE (Reuters) - Asian shares made 15-month highs on Tuesday on renewed confidence of U.S. interest rate cuts, while traders waited on a policy meeting in Australia later in the day and had a close eye on a falling yen. MSCI's...
1h ago
Oil edges up after Israel strikes Gaza, while truce talks continue
BEIJING (Reuters) - Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Brent crude futures were up 46 cents, or 0.55%, at $83.79 per barrel at 0010 GMT...
2h ago
Japan warns of action over rapid currency moves
By Satoshi Sugiyama TOKYO (Reuters) -Japan may have to take action against any disorderly, speculative-driven foreign exchange moves, the government's top currency diplomat Masato Kanda said on Tuesday, reinforcing Tokyo's readiness to intervene again ...
2h ago
Amazon to spend $9 billion to expand cloud infra in Singapore, Bloomberg News reports
(Reuters) - Amazon.com Inc. plans to spend $9 billion in expanding its cloud computing infrastructure in Singapore, Bloomberg News reported on Monday. (Reporting by Dagmarah Mackos; Editing by Rashmi Aich)
3h ago
Philippine annual inflation at 3.8% in April
MANILA (Reuters) - Philippine annual inflation increased for a third straight month in April due to a faster pace of price rises for food and transport, the statistics agency said on Tuesday. The consumer price index rose 3.8% in April from a year ...
3h ago
Wesfarmers says breaking up business would be detrimental to Australia
SYDNEY (Reuters) - Australia's Wesfarmers said on Tuesday any move to break up its budget department store chain Kmart, hardware business Bunnings and chemicals maker WesCEF would drive up prices and put Australian businesses at a global disadvant...
4h ago
Australia to unveil decline in projected gross debt, sees lower peak in debt ratio
SYDNEY (Reuters) - The Australian government's budget will show a decline in projected gross debt this year and forecast a lower peak in debt ratios in the years ahead, the Treasury said on Monday. The government's gross debt is expected to come in...
5h ago
Japan's service activity extends gains on solid demand, PMI shows
TOKYO (Reuters) - Japanese service sector activity grew at the fastest pace in eight months in April thanks to solid business and consumer spending, a private survey showed on Tuesday, results that should keep the central bank on track to hike rate...
5h ago
Australia's ANZ announces $1.3 billion buyback despite lower cash earnings
(Reuters) -ANZ Group announced a new A$2 billion ($1.32 billion) share buyback on Tuesday despite reporting a 7% slump in first-half cash earnings due to intense competition in Australia's mortgage lending market coupled with higher operating expenses....
6h ago
UK consumer spending softens in April, surveys show
(Reuters) - British consumers kept a tight rein on their spending last month, according to surveys on Tuesday that showed tepid activity even after accounting for the timing of the Easter holidays. Barclays said annual growth in consumer spending o...
7h ago
Morning Bid: RBA up next, Hang Seng eyes 11th rise
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian markets are rising on the back of a subdued dollar, lower U.S. bond yields and looser financial conditions that the more benign outlook for U.S. interest rates lately has...
7h ago
US Social Security, Medicare finances get slight boost from stronger economy
WASHINGTON (Reuters) - Trust funds supporting Social Security and Medicare benefits for U.S. seniors are showing some improvement due to stronger-than-forecast economic growth, productivity and immigration that is boosting revenue collections, acco...
7h ago
South Korea FX reserves log biggest monthly drop in 19 months on intervention
SEOUL (Reuters) - South Korea's foreign exchange reserves dropped in April by the biggest amount in 19 months as authorities intervened in the currency market to curb weakness in the won currency. Reserves stood at $413.26 billion at the end of Apr...
9h ago
Air Lease Q1 profit misses estimates on higher interest expenses
(Reuters) - Air Lease Corp reported a lower-than-expected quarterly profit on Monday as it made higher interest payments on funds borrowed to finance aircraft purchases. The California-based company's results have gained in recent quarters as suppl...
9h ago
Coty beats Q3 revenue estimates, eyes high-end of annual targets on strong demand
By Ananya Mariam Rajesh (Reuters) - Beauty company Coty beat Wall Street expectations for third-quarter revenue on Monday and said it expects to achieve the high end of its annual targets, riding on steady global demand for its luxury and mass-mark...
9h ago
Exclusive-Wozniak's space firm, Privateer, buys Orbital Insight, raises $56.5 million
By Joey Roulette WASHINGTON (Reuters) - Apple cofounder Steve Wozniak's space data startup, Privateer, has raised $56.5 million and also acquired the analytics firm Orbital Insight, a merger that will add mapping and intelligence services to Privat...
9h ago
US FAA opens new probe into Boeing 787 inspections
By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) said on Monday it has opened a new investigation into the Boeing 787 Dreamliner after the planemaker told the regulator last month it may not have completed required in...
10h ago
Vertex tops Q1 profit estimates on robust demand for cystic fibrosis treatments
(Reuters) - Vertex Pharmaceuticals beat Wall Street estimates for first-quarter profit on Monday, driven by robust uptake for its cystic fibrosis treatments. Cystic fibrosis (CF) - an inherited disorder that causes severe damage to the lungs, diges...
10h ago
US banks report weaker loan demand, Fed survey says
(Reuters) - U.S. banks reported renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year, according to a Federal Reserve survey of senior loan officers published on Monday. Fed o...
10h ago
Citadel's Griffin says Fed's first rate cut may come in December
By Carolina Mandl Beverly Hills (Reuters) - Ken Griffin, Citadel's founder and chief executive, said on Monday that he is unsure when the Federal Reserve may be able to cut interest rates this year, but it may come in December. Speaking at the Milk...
11h ago
Massachusetts top court to hear challenges to gig worker ballot measures
By Nate Raymond BOSTON (Reuters) - The top Massachusetts court on Monday is set to consider whether the state's voters will get to decide two ballot proposals in November that would redefine the relationship between app-based companies like Uber Te...
11h ago
Fed's Williams says next Fed move likely to be lower rates
By Michael S. Derby (Reuters) - Federal Reserve Bank of New York President John Williams said Monday that at some undefined point the U.S. central bank will lower its interest rate target. "Eventually we'll have rate cuts" but for now monetary poli...
11h ago
Investors pull $9.9 billion from hedge funds in March - Nasdaq eVestment
By Nell Mackenzie LONDON (Reuters) - Investors withdrew an estimated net $9.9 billion from hedge funds in March, up from $780 million in February and the 22nd consecutive month where industry outflows totalled more than inflows, a report from Nasda...
12h ago
Nio on track to unveil its first mass-market car in May, executive says
By Gilles Guillaume PARIS (Reuters) - China's premium electric vehicle maker Nio is on track to unveil a new model under a mass-market brand by the end of this month and a second smaller EV to be sold in Europe next year for less than $30,000, a se...
13h ago