(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The waiting is almost over. U.S. Federal Reserve Chair Jerome Powell delivers his Jackson Hole speech on the economic outlook on Friday, which will give direction to every financial market in the near term, and set the tone until the Fed’s …
(Reuters) – The California Air Resources Board voted Thursday to adopt sweeping regulations to require all new cars sold in the most populous U.S. state to be electric or plug-in hybrid by 2035, a move that will likely speed the end of gas-powered vehicles. The rules, which have been adopted by more than a dozen …
California board votes to phase out gasoline-only cars in state by 2035 Read More »
CARACAS (Reuters) – Efforts by the administration of Venezuelan President Nicolas Maduro to tamp down inflation by increasing supplies of foreign currency may be at risk amid economic growth after years of stagnation, analysts said. Maduro’s government has succeeded in lowering consumer price growth, which was 137% year-on-year through July, by increasing the supply of …
Rising dollar may stymie Venezuela’s efforts to combat inflation Read More »
(Reuters) -Gap Inc beat revenue estimates on Thursday on strong sales at its Banana Republic division, but withdrew its annual forecasts as the apparel chain struggles with an inventory build-up and tepid demand for outdated Old Navy items. People have been opting for suits, dresses and skirts over casual wear as they venture out for …
Gap tops revenue estimates on strong demand for Banana Republic apparel Read More »
(Reuters) -Dell Technologies Inc posted its slowest revenue growth in six quarters on Thursday as a surge in the dollar and COVID-19 flare-ups in major market China offset a jump in its enterprise-focused business. Shares of the company fell more than 7% in extended trading. The greenback surge has this year eaten into the earnings …
Dell revenue growth slows on strong dollar, China lockdowns Read More »
By Ruhi Soni (Reuters) – Fintech firm Bespoke Financial is looking to expand its ‘buy now pay later’ service for cannabis businesses in California and Massachusetts later this year, its Chief Executive George Mancheril said on Thursday. The push comes after a successful pilot launch in July that allowed cannabis retail outlets to buy products …
Cannabis fintech Bespoke to expand BNPL base in cash-starved industry Read More »
By Swati Verma (Reuters) – Texas’ electric grid operator has powered through record demand this summer by paying more to keep higher reserves and rewarding industrial consumers to cut usage, a combination that has added more than $1 billion to power fees. The Electric Reliability Council of Texas (ERCOT) has set new demand records 11 …
Texas grid avoids summer blackouts with $1 billion in extra spending Read More »
By Noel Randewich and Bansari Mayur Kamdar (Reuters) – Wall Street ended sharply higher on Thursday, lifted by gains in Nvidia and other technology-related stocks as investors focused on the Federal Reserve’s Jackson Hole conference for clues about the central bank’s policy outlook. Fed Chair Jerome Powell is due to give a speech on Friday …
Wall Street ends sharply up, fueled by Nvidia and Amazon Read More »
By Andrea Shalal KYIV (Reuters) – Ukraine’s economy should stabilise over the coming year and expand by as much as 15.5% in 2023, depending on military developments in the war against Russia that began on Feb. 24, the country’s economy minister told Reuters in an interview. Yulia Svyrydenko, who also serves as first vice prime …
Ukraine economy could grow by 15.5% in 2023 after deep fall – minister Read More »
By Byron Kaye and Jaskiran Singh SYDNEY (Reuters) -Australia’s companies are split, as big miners and airlines expect higher profits on soaring commodities prices and a rebound from COVID-19, while supermarkets, banks and manufacturers are hurt by inflation and stagnant wages. Annual business results and profit forecasts reveal a divide in the world’s 13th-biggest economy …
Australia companies split: miners boom, airlines turn up, retailers slump Read More »
