By Karen Brettell and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar surged to a fresh 11-week high on Thursday after data showed U.S. retail sales rose in September, reinforcing expectations that the Federal Reserve will pursue modest interest rate cuts over the next year and a half as the world’s largest economy remained …
US dollar buoyed by retail sales data, euro falls as more cuts underway Read More »
By Stephen Culp NEW YORK (Reuters) -The S&P 500 and the Nasdaq pared their gains to end essentially unchanged on Thursday, while the Dow notched a record closing high as investors parsed an array of mixed quarterly earnings and digested a series of robust economic reports. Gold hit a record high as the safe-haven metal …
S&P 500, Nasdaq lose steam, Dow nabs closing record, gold hits all-time high Read More »
WASHINGTON (Reuters) – The International Monetary Fund reached a staff-level agreement with Tanzania on a review that will make about $265.8 million available to the African country, the IMF said in a statement on Thursday. (Reporting by Jasper Ward; editing by Kanishka Singh)
By Nicole Jao NEW YORK (Reuters) -Oil prices inched up on Thursday, bouncing back from two-week lows, after data showed falling crude and fuel inventories in the United States. Brent crude futures settled at $74.45 a barrel, up 23 cents, or 0.31%. U.S. West Texas Intermediate crude futures settled down 28 cents, or 0.4%, at …
Oil prices edge higher on US crude stockpiles draw Read More »
JOHANNESBURG (Reuters) -South African grocery retailer Pick n Pay on Thursday forecast a wider half-year headline loss, but said it expects its full-year result before tax and capital items to show a meaningful improvement on the prior year. The company did not indicate whether it expected a profit or a loss for the full year. …
South Africa’s Pick n Pay sees wider H1 headline loss Read More »
JOHANNESBURG (Reuters) -South Africa’s rand slipped against a stronger dollar on Thursday, after data showed U.S. retail sales rose more than expected, signalling a resilient U.S. economy. At 1511 GMT, the rand traded at 17.7150 against the U.S. dollar, 0.41% weaker than its previous close. The dollar last traded 0.21% firmer against a basket of …
South African rand slips after US retail sales data Read More »
By Robert Harvey and Ahmad Ghaddar LONDON (Reuters) – A spike in Egyptian imports of fuel oil used for power generation has coincided with lower supply in Europe, helping to push refiners’ profit margins for the fuel to their highest in over a year, traders and analysts told Reuters. Firmer high-sulphur fuel oil (HSFO) prices …
Heightened Egyptian demand in tight market buoys European fuel oil prices Read More »
JOHANNESBURG (Reuters) – South Africa’s central bank governor, Lesetja Kganyago, said on Thursday that the country could move to a lower inflation target at little cost. Kganyago is a strong advocate for a lower target than the bank’s current 3% to 6% range and told Reuters in April that teams from the central bank and …
South Africa could lower inflation target at little cost, central bank governor says Read More »
ABUJA (Reuters) – Nigeria is beginning to reap the benefits of significant policy reforms following a near fiscal crisis in 2020, but must stay the course, the World Bank said on Thursday. President Bola Tinubu has instituted reforms including ending a decades-old petrol subsidy and devaluing the currency to try to boost output, which has …
Nigeria seeing positive results from fiscal reforms, World Bank says Read More »
JOHANNESBURG (Reuters) – South Africa is considering introducing tax rebates or subsidies for consumers to boost buying of electric vehicles, President Cyril Ramaphosa said on Thursday, as Africa’s most industrialised economy transitions its automotive industry. Global automakers like Ford, Volkswagen, BMW and Toyota manufacture models in South Africa for both the local and European markets. …
South Africa mulls tax rebates, subsidies to boost local EV industry Read More »
