OTTAWA, March 12 (Reuters) – The Bank of Canada released the following text of opening remarks by Governor Tiff Macklem on Wednesday: “Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our policy decision. “Today, we lowered the policy interest rate by 25 basis points, bringing it to 2.75%. …
FULL TEXT- Bank of Canada to be cautious about future rate moves Read More »
OTTAWA, March 12 (Reuters) – The Bank of Canada released the following statement on Wednesday: “The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. “The Canadian economy entered 2025 in a solid position, with inflation close to the …
By Linda Pasquini and Alexander Hübner (Reuters) – Puma on Wednesday announced job cuts and warned of uncertain U.S. consumer demand as the German sportswear group’s shares slumped 23% in the wake of disappointing quarterly and annual forecasts issued a day earlier. The grim outlook, which follows weak quarterly sales and annual profit announced in …
Puma faces weak U.S. demand, plans job cuts as shares plunge Read More »
(Reuters) -GE Aerospace said on Wednesday it would invest nearly $1 billion in its U.S. factories and supply chain in 2025, as it works to strengthen its manufacturing and increase the adoption of new technology and parts. The aerospace giant’s latest investment, which is almost double from last year, comes amid a strong travel environment …
GE Aerospace to invest about $1 billion in US manufacturing this year Read More »
By Duncan Miriri and Karin Strohecker NAIROBI (Reuters) – A pan-African payments infrastructure provider designed to facilitate trade on the continent is piloting an African currency market platform to boost commerce across borders in the region, its chief executive said. The Pan-African Payments and Settlement System (PAPSS), backed by 15 central banks on the continent, …
African payments system PAPSS plans to launch FX market platform this year Read More »
By Mike Dolan LONDON (Reuters) – Morning Bid U.S. What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets The mere threat of a trade war unnerved markets, but they now have to cope with the real thing, as U.S. tariff hikes on metals imports kick in today …
Morning Bid: Forget threats, the tariff war is underway Read More »
By Lewis Krauskopf and Suzanne McGee NEW YORK (Reuters) – Investors are wary about worrisome market signs, after a steep U.S. stocks selloff that has wiped out more than $4 trillion in value and all of the gains notched following President Donald Trump’s election. Among the signs are technical signals such as the S&P 500 …
Analysis-Ominous market signals show more trouble could await US stocks Read More »
By Promit Mukherjee OTTAWA (Reuters) – The Bank of Canada will likely cut its benchmark rate by a quarter point on Wednesday to cushion the economy against U.S. tariffs, several economists said. If the BoC delivers the 25-basis-point cut, it will be the bank’s seventh consecutive reduction, bringing down the policy rate to 2.75%, a …
Bank of Canada likely to cut rates 25 bps to cushion economy from tariffs Read More »
By Saeed Azhar and Svea Herbst-Bayliss NEW YORK (Reuters) -Bank of America has eliminated 150 junior banker jobs in its investment bank, two sources familiar with the matter told Reuters on Tuesday. The bank’s latest cuts follow similar exercises at rivals JPMorgan and Goldman Sachs and are part of an annual process to cut under-performers. …
Bank of America cuts 150 junior jobs in investment banking, sources say Read More »
By Amy Lv and Lewis Jackson BEIJING (Reuters) – Iron ore futures surrendered early gains to trade lower on Wednesday, as sentiment was spooked by resumed market talks of China’s plan of trimming crude steel output to rein in oversupply plaguing the industry. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) …
Iron ore spooked by resumed talks of China’s steel output cut Read More »
