By Laura Sanicola (Reuters) -Oil prices settled down 2% on Wednesday despite a historic drop in U.S. crude stocks, as traders derisk following the downgrade of the U.S. government’s top credit by a major ratings agency. U.S. crude stocks fell in the week by 17 million barrels, the largest drop in U.S. crude inventories according …
Oil settle lower despite record US crude stock drawdown Read More »
By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) -The dollar rose on Wednesday as investors shrugged off Fitch’s U.S. credit rating downgrade while data showing a larger-than-expected increase in private payrolls in July bolstered the greenback as it points to labor market resilience. Private payrolls rose by 324,000 jobs last month, the ADP National …
Dollar shrugs off Fitch’s U.S. downgrade, advances on strong jobs data Read More »
JOHANNESBURG (Reuters) -The South African rand slumped further on Wednesday, after tumbling as much as 2% on Tuesday, as risk-off sentiment increased on concerns about global economic growth and a credit rating agency downgraded the United States. At 1509 GMT, the rand traded at 18.5000 against the dollar, about 1% weaker than its previous close. …
South African rand tumbles as poor PMI data, U.S. downgrade bite Read More »
(Reuters) – South Africa’s Gold Fields on Wednesday said it expects its half-year profit to decline by as much as 16%, mainly due to lower gold production and higher operating costs. Gold Fields expects its headline earnings per share (HEPS) – the main profit measure in South Africa – to come in between $0.49 and …
S. Africa’s Gold Fields sees profit drop on lower production, costs Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged lower on a stronger dollar and signs of profit-taking after a rally in July when investors bet on tighter global supplies and demand growth in the second half of 2023. Brent crude futures for October settled at $84.91 a barrel on Tuesday, down 52 cents or 0.6%. …
Oil dips on stronger dollar, profit-taking signs after rally Read More »
By Herbert Lash NEW YORK (Reuters) – The dollar advanced against major currencies on Tuesday after relatively solid data on U.S. manufacturing and construction in June offset a decline in job openings last month to the lowest level in more than two years. While an ISM survey offered a tough assessment of U.S. manufacturing conditions, …
Dollar gains after relatively strong data, Aussie dollar tumbles Read More »
By Lawrence Delevingne (Reuters) -Most global stocks dipped, while oil prices fell and Treasury yields climbed, as investors weighed declining factory activity in the euro zone and China with stabilizing U.S. manufacturing and job openings that signaled a still-tight labor market. On Wall Street, the Dow Jones Industrial Average rose 0.2%, to 35,630.55, while the …
Gloomy data makes investors more cautious on world economy Read More »
By Katherine Masters NEW YORK (Reuters) – Retailers such as Macy’s and Columbia Sportswear are expanding their use of “breathable” and “cooling” fabrics in a bid to boost sales as record-high temperatures drive demand for clothing that can help consumers beat the heat. Other major companies, including VF Corp and Permira-owned Reformation, are also touting …
Clothiers bet on ‘cooling’ fabrics as global temps rise Read More »
DAKAR (Reuters) – West Africa’s regional central bank, the BCEAO, said on Tuesday it had shut down its branches in Niger due to risks to operations following last week’s military coup. (Reporting by Ngouda Dione; Writing by Anait Miridzhanian; Editing by Alison Williams)
ABIDJAN (Reuters) – All imports and exports of goods from Niger have been suspended due to regional sanctions, the Ivory Coast government said on Tuesday. (Reporting by Ange Aboa; Writing by Anait Miridzhanian; Editing by Alison Williams)
