Reuters Africa Business

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar slipped on Friday after data showed inflation in the world’s largest economy subsided last month, cementing expectations the Federal Reserve will start cutting interest rates this year. The dollar initially fell against the yen, the currency pair most sensitive to U.S. economic data because of a …

US dollar slightly weaker on diminishing inflation Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – Global stock indexes edged lower on Friday, reversing early gains as investors absorbed data that showed U.S. inflation was flat in May but in line with expectations, while Treasury yields turned higher. Uncertainty around the U.S. presidential election and the imminent French legislative elections helped to offset the …

Stocks dip as investors digest inflation data; bond yields up Read More »

By Libby George, Karin Strohecker and Aaron Ross LONDON/NAIROBI (Reuters) -Deadly Kenyan protests that scuppered tax hikes and a failed coup amid fading economic prospects in Bolivia this week are violent reminders of the dangers posed by faltering economies and punishing austerity measures.   Bolivia’s President and former economy minister Luis Arce fended off the putsch …

Kenya clashes and Bolivia’s failed coup show perils of economic hardship Read More »

JOHANNESBURG (Reuters) -The South African rand rallied on Friday on optimism that the Democratic Alliance (DA) and African National Congress (ANC) would reach an agreement over cabinet positions, a day after local media reported a major disagreement between the parties. At 1503 GMT, the rand traded at 18.24 against the dollar, about 1.3% stronger than …

South African rand rallies on hope DA and ANC can agree on cabinet posts Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -Global stock indexes edged higher on Thursday, while U.S. Treasury yields declined slightly after a series of U.S. economic reports suggested ebbing momentum. Traders were eager to see Friday’s U.S. personal consumption expenditures (PCE) data, which is the Federal Reserve’s preferred inflation measure and could help investors determine the …

Stocks inch up, bond yields dip; inflation data ahead Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar drifted lower against most currencies on Thursday, pressured by softening data in the world’s largest economy that backs expectations the Federal Reserve will start cutting interest rates this year. The yen edged up from a 38-year low against the greenback following the U.S. numbers, even as …

US dollar eases after soft economic data; yen inches higher Read More »

By Georgina McCartney HOUSTON (Reuters) -Oil futures settled higher on Thursday on worries about global crude supply disruptions as geopolitical pressure in the Middle East and Europe mounted, while a surprise increase in U.S. crude and gasoline inventories gave prices a ceiling. Brent crude oil futures settled up $1.14, or 1.34%, to $86.39 a barrel. …

Oil settles $1 up, war risk premium outweighs ample US stocks Read More »

By Duncan Miriri and Olivia Kumwenda-Mtambo NAIROBI (Reuters) -Protesters took to the streets again in cities across Kenya on Thursday, many calling for President William Ruto to resign, even after he bowed to their demands to withdraw a tax hike bill. Below are some details about those tax proposals, what economic problems they were meant …

Explainer-What’s next after Kenya withdraws finance bill amid protests? Read More »

By Tannur Anders JOHANNESBURG (Reuters) -The South African rand fell sharply on Thursday after media reports of a major disagreement between the pro-business Democratic Alliance (DA) party and President Cyril Ramaphosa over cabinet posts. At 1527 GMT, the rand traded at 18.48 against the dollar, 1.7% weaker than its previous close. The DA agreed to …

South African rand drops on reported discord over cabinet posts Read More »